Marketing

Introduction

American Marketing Association (AMA) defines marketing as, “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large” (2007)

The marketing definition given above, emphasises the need for today’s market to value not only the customer but also the “stakeholders”. The “king of the market” has widened from customers to a broad range of stakeholders- that includes employees, distributors, suppliers and partners. Thus, relationship management becomes an important entity of marketing.

To study about marketing and various marketing techniques, a product is taken as an example and each topic is studied with the product. The product that I have taken to study is ITC BINGO.

ITC BINGO:

Bingo, launched in March 2007, is large range of salted potato and finger chips. This brand associates itself to youth, fun and excitement. It caters to the consumers need for a novelty and a variety of snacks.

Bingo has four sub brands:

• Bingo! Yumitos
• Bingo! Madangles
• Bingo! Tedhe Medhe
• Bingo! Tangles 

More about Bingo as a brand, its marketing stories will be posted in the blog with the help of inputs from the classroom and other references.