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Historical Overview and Functioning of The Marketing

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The earliest form of exchange was known as barter. Modern marketing began in the early 1990s. In the twentieth century, the marketing process progress through three distinct eras – production, sales, and marketing. In the 1920s, firms operated under the premise that production was a seller’s market. Product choices were nearly nonexistent because firm managers believed that a superior product would sell itself. This philosophy was possible because the demand for products outlasted supply. During this firm success was measured totally in terms of production. (Business Encyclopedia) Marketing in the 1940s and 1950s was highly descriptive and preoccupied with establishing its domain and functions6. The overarching characteristics of the marketing field were its reliance on economics, which provided the philosophical assumptions of rational choice, functional utility of products, the objectivity of the researcher, a single reality, and separable and independent marketing elements. The primary focus was on the activities of the firm. The consumer was seen as a utility optimizing individual who would consciously weight the costs and benefits of a purchase.

Quality, price, and durability were deemed the most important attributes. Along with these economic assumptions, researchers stressed business transactions. The role of marketing was to stimulate and service demand 7. For example, the 1935 American Marketing Association definition of marketing was the “performance of business activities that direct the flow of goods and services from producers to consumers”. Marketing is then a process of providing customers with parts of a potential mosaic from which they, as artists of their own lifestyles, can pick and choose to develop the composition that for the time may seem the best. Marketing is not only an impersonal economic activity, but in addition to its conventional considerations about exchanges, buying and selling values, income, budget, outlets, and transportation, it is inevitably interwoven with other personal, the noneconomic relationship in society. There is a clear indication that the paint industry in India is poised for a growth further, based on changing national and international economic developments. However, such a growth is likely to be affected by certain inherent local specific problems. These problems call for an in-depth study so as to bring about suitable corrective mechanism and through which relieves the industry of such problems of a free and fair growth. The supply of paints in India is limited on account of low capacity utilization of production of paints. Equally, limiting factor is its per capita consumption or demand for paints in India. As a result, companies are investing in sophisticated supply chain management tools. Margins remained under pressure due to dropping prices, which have been more strategic and forced by the market leader. Companies have been working on improving internal efficiencies to retain profits. The pressure from original equipment manufacturers to reduce prices has also been a cause for low profits for paint companies.

The performance of the decorative division also hinges on rainfall (which may lead to heavy corrosion). In the last five years, the country witnessed three years of poor rainfall which adversely impacted the total paint demand. So the demand for and supply of paints in India need to be improved by strengthening the existing systems. India has a large number of paint shops or outlets, more than 50,000. Unlike in most of the developed world. There is a large number of small paint and hardware shops that cater to the local population. The Indian paint industry has more or less equal and highly competitive players in both organized sectors. The unorganized sector consists of small and medium enterprises (SME). Asian paints, Godless Nerolac, ICI (India), Berger, Jenson & Nicholson, and Shalimar are the leading companies under the organized sectors. The threat of global competition is minimal in this industry. Asian Paints Limited dominate the decorative segment, with a 29 percent market share. Berger paints go next with a 10 percent market share.

Nerolac and ICI have 8 percent shares, respectively, in this segment followed by Shalimar. In this connection, it could be stated that the sales promotion measures taken by the units under the organized sector have yet to reach the customers of both organized and unorganized sectors. The advertisement of the paint industry does not serve the purpose and as such the producers of unorganized sector encase upon, among the rural consumer. The one impotent thing to look into it is that the strategic advertising opportunities were not really explored well enough. The awareness of the brand almost diminished in places where it was already low. The brand is far from being recognized and there was a marginal increase in sales and in the monthly average survey of the brand knowledge. In India, there has been no other marketing and brand strategizing as good as its Indian competitor. The very classy advertisements do not really resonate with the elite Indians also. What they need is something that touches them and not just informs them. It is clear from the above that paint industry in India is an is not comfortable in the delivery of the desired services to the target audience in view of the problems stated above paint industry in India with special reference to Tamilnadu on the basis of the objectives listed below. The topic is to execute the effectiveness of the marketing strategies of Asian Paints. It will help the all of its stakeholders to ensure its market share growth as well as increase its performance. This research will reflect the awareness level as well as feedback from the customers and will help to generate new ideas about future products along with product awareness program. it is dealers and customers opinion, new ideas paint new products produced and marketing in the high targeting of Asian paint company. v To study the effectiveness of various sales promotion measures adopted by Asian paints manufactures and dealers v To offer a suggestion for enhancing the marketing strategies of paints. The researcher made reviews of earlier studies.

Among the reviews made few studies have been made on the marketing of consumer goods. As paints and paint products are consumer’s goods, the research made an attempt to study the marketing strategies adopted by Asian paints products Ltd especially in the southern districts of Tamilnadu.

The study determines the marketing strategy adopted by top for Asian paints manufacturer and dealers in districts of Tamilnadu. As the study is descriptive in nature, designed to analyze the factors influencing the marketing of paints products in the Southern district. The researcher has collected both primary and secondary data for the purpose of this study. The primary data were collected directly from the sample respondents including, dealers and customers. Using a well-structured interview schedule the data has been collected from 15 dealers and 200 customers of Asian Paints. The secondary data was collected from the textbooks, magazines, journals, internet sources of an Asian paints private company limited. The simple random sampling method is used to collect primary data.

LIMITATION

The limitations of the study are as follows

Time constraint is one of the limiting factors. A limited sample size to 15 dealers and 200 customers were considered as sample units because of time constraints. Types of sales promotion Among 200 respondents, 34 % of the respondents have the opinion that sample supply, 25.5%of the respondents have the opinion of contests offered, 23.5% of the respondents have the opinion of the free coupon, and 17% of the respondents have the opinion of others factors motivated them to buy Asian Paints. Hence it is clear that majority of the respondents 34% of the respondents have been motivated by sample supply. Advertising in paints in media Among 200 respondents, 43.5% of the respondents are has been watching an advertisement for paint on television, 12.5%of the respondents in the paint in radio, 15% of the respondents in the newspaper. 13% of the respondents in the magazine. 27% of the respondents on the internet. Hence it is clear that majority of the respondents 43.5% of the respondents are has been watching an advertisement on television for paints.

Advertising media & purchase performance Among 200 respondents, 43.5% of the respondents have purchased paints based on a television advertisement, 11.5%of the respondents through radio advertising, 15% of the respondents through newspaper advertising. 13% of the respondents through magazines advertising. 27% of the respondents through internet advertising. Hence it is clear that majority of the respondents 43.5% of the respondents are purchasing through television advertising Advertising level and performing sales Among 13 respondents, 46%of the respondents are highly sale for heavy advertising periods, 31% of the respondents have are a moderate sale for heavy advertising periods, and 23% of the respondents have are a Satisfactory sale for heavy advertising periods Hence it is clear that majority of the respondents are 46% of the respondents are highly sale for heavy advertising periods.

A manufacturer selling out of products Among 15 respondents, 26.67% of the respondents are advertising products, 13.33% of the respondents are launching sales promotion, 36.67% of the respondents are proper destruction, and 53.33% of the respondents are providing financial incentives Hence it is clear that majority of the respondents 53.33% of the respondents are providing financial incentives The margin on maximum retail price Among the 15 respondents, 13.33%of the respondents are up to five percents, and 86.67% of the respondents are 6-10 percents. Hence it is clear that majority of the respondents are 86.67% of the respondents are 6-10 percents. Sales below the cost price Among the 15 respondents, 80% of the respondents that the sale bellows the cost price, and 20% of the respondents are not selling below the cost price. Hence it is clear that majority of the respondents 80% of the respondents that the sale bellows the cost price Create Awareness through Advertisement Advertisements are important for (low involvement products like paint; because the customer has less brand awareness and about the type of popular company. So, paint companies may change their advertisements, in the way they inform customers about the durability of a particular product, the frequency of painting work and defects of not painting the houses. Paint companies also inform about healthy paints (eco-friendly) through advertisements. It is to create necessary awareness about water-based paints in India. The advertisement is an effective marketing strategy, especially in the paint industry. The advertisements strategies of paint and developing a long-term image of the products. This will help the paint companies in the way to create better brand awareness among the customers and improve their market share.

A great is built form a great product that is of high quality. There is a need to improve the quality of products from time to time. This helps to make the product a great brand, thereby improving the demand for the products in the market. Ø Monitoring the strategies in practice The marketing department of the paint companies have to develop a strategy viz., promotion strategies, distribution strategies, pricing strategies, service strategies, product strategies, service strategies, product strategies and market information on customer preferences, expectations, purchase pattern, behavior and their feedback through the distribution network. Thus, the constant touch with the customers and the pulse of the market can be maintained which in turn will be helpful in designing marketing strategies. The paint companies succeed or otherwise as determined by their marketing strategies. All organized players are introducing various service those attract the customers.

Some new types of paints launched by the companies to attract more customers and washable, odorless interior paints, water-based enamels, and anti-bacterial paints. In the case of architectural paints, the customer prefers good quality paint that lasts longer as the cost of painting forms a significant percentage of their entire spending. Certain paints do not last long, which is a major cause of concern among customers. Paints ar

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Historical Overview and Functioning of the Marketing. (2018, Jun 11). GradesFixer. Retrieved May 23, 2022, from https://gradesfixer.com/free-essay-examples/historical-overview-and-functioning-of-the-marketing/
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Historical Overview and Functioning of the Marketing. [online]. Available at: <https://gradesfixer.com/free-essay-examples/historical-overview-and-functioning-of-the-marketing/> [Accessed 23 May 2022].
Historical Overview and Functioning of the Marketing [Internet]. GradesFixer. 2018 Jun 11 [cited 2022 May 23]. Available from: https://gradesfixer.com/free-essay-examples/historical-overview-and-functioning-of-the-marketing/
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