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  • Subject area(s): Marketing
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  • Published on: 14th September 2019
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A  STUDY OF MARKETING STRATEGY FOR INDUSTRIAL

GOODS IN   KARNATAKA  WITH SPECIFIC REFERENCE   

TO   OEM MANUFACTURERS”

CHAPTER 1

INTRODUCTION

The industrial sector has been the focus of most of the economic reforms which are being carried out over the last decade. The observation in the slowdown in industrial production over the past five years is therefore being particularly concerned. The reforms of 1990s, which are forced in removing entry barriers to investments, opened trade, provided free access to foreign technology, opened up foreign technologies, opened up foreign direct investments, and removed barriers inhibiting access to capital markets will be expected to results in sustained high growth in industrial production. It is expected that, in keeping with the countries comparative advantage, the structure of investment in industry would shift from more capital intensive industries to more labor intensive ones. It is also expected that such a shift would render for a greater profitability and earnings growth more export oriented production and greater employment opportunities in industry. With such for reaching economic reform and the changing international environment, Indian industry must be enabled to compete through the provision of the economic regulatory structures, which allows for restricting on a minimal continuous basis. The government has recognized the need for such flexibility and has initiated a number of measures to ensure a smoother functioning of the enterprise and allowing both the entry and exit. (The parliament has introduced a considerable policy to establish national company law tribunals to address the issues of sickness and bankruptcy, also with that for the cancellation of the sick industrial companies act, (SICA) and the dissolution of the board for industrial and financial restructuring). As these bills get enacted the process of industrial restructuring should pursue a simpler and faster. Similarly, the one which is initiated by the government on the process for amending labor laws to provide for greater an easy way in employing labor, and for out sourcing of services so that labor use has been enumerated more liable and essential. Progress in the implementation of these initiatives is essential in enabling Indian industries to re construct themselves in coping up with the more competitive domestic and international environment, and to induce employment generating industrialization. The key rigidity in inhibiting Indian industries from investing in labor and making themselves involved in the activities which are export oriented in the continuation of small scale industries reservations.

The removal of quantitative restrictions on almost all the imports has become a sort of rigidity in becoming more anomalous. Whereas large foreign enterprises are going to produce all these services and products to even export them to India, large Indian enterprises are not permitted to manufacture these products. An initiation has been made along with the de reservation of a number of items which are connected with the sectors like garments, toys, shoes and leather goods. It is essential now that this process is accelerated so that Indian industry can invest freely in these activities and compete with the rest of the world. Greater investments in these areas will be a key ingredient of employment oriented policies that are nevertheless for generating improved industrial employment in any country.

The data which is available being suggests that the employment in Indian organized sectors is less than that of fifth of that in china. The rigidities in labor legislation and small scale industry reservations have been contributed to this huge imbalance.

For a long time in the Indian economy there is a persistence of increased and high interest rates. The shares of interest in cost of Indian companies are in strong competition amongst the highest in competition in developing countries like India. Particular problems faced by some industries are that heavy investments will be made during the initial beginning years of liberalization, when the nominal interest rates are considerably high. With the reduction in these two inflation and nominal interest rates, then leading these to legacy interest rates have an overhang behavior which resulted as a significant debt for these industries. Furthermore, in the presence of increased competition leading to lots of uncertainties in the global environment where is an even greater need to provide for stable and predictable industrial policies. Considerable progress has been made in this area against the previous years with the drastic simplification and rationalization that has been carried out in all areas. Considerably market conditions are being changing. Advancing technologies are affecting products and applications requirements. Emerging companies, on one hand, and increased merger activities, on the other, are changing customer profiles. New standards are slightly but surely becoming a market factor. Theodore Levitt a noted Harvard Professor of Business, states that the purpose of every business enterprises is to "initiate all categories of customers.” Consistently, the sudden aim of achieving this objective is to create modulative advantage in competition. This is how one can convince the buyers (potential customers) which have to be offered are coming emerging very nearer for meeting their essential needs at the same time whenever required.  

Eventually it is possible to provide all the consistent advantages so that the customer can have a prolonged alternatives as an habit while purchasing any product or service, such a behavior exerted by the public who drive some selected vehicles like ford will brush daily with crest only, while the other sector of customers who take

Dell computers will go for their sanitation works always with Samson plumbing on a 24x7x365 days scheme.

Relaying on such an unusual, blunt decisions without having any idea of the substitutes and alternatives available in the day today markets and simply dreaming about extraordinary business aesthetics. The vigorous marketing program to employ without any support is an impossible factor. While there is peculiar responsibility of marketing in providing an advanced marketing assistance for identifying, selecting, choosing, satisfying and finally retaining the customers of the both the sector i.e.; external and internal customers. Whereas in general terms the marketing factors are always straight forward, in accepting all kinds of definition attachments to the conception making a bit difficult. An author who once explained in his article about defining the marketing goes like this “defining marketing is not an easy task”. Till now there is no proper definition for marketing has been confined, the definitions which are defined are only concise to convince the customers but not in acceptance globally. A clear and perfect meaning of marketing is still under the researchers mind only as an un compiling confusion about what is all about the word marketing. What are the key factors which are involved in this peculiar marketing activity and what are the different kinds and forms of this marketing. Sometimes it's a kind of activity, while the others think it as an advertising method of any product or service. There are variety of terms which comprises this marketing such terms are event marketing, advertising, doorstep marketing, sales representatives, online, web marketing, commercial marketing, using emails etc., but it's very difficult in carrying out this marketing activity to its extreme efficiency, for this the existence of raining cells, institutions, training articles are provided and conducted to teach about how will be this marketing activity is all about. Then the issue of buyer's behavior and the relationship between buyers and sellers, market and market structure, size, everything will come into existence, while the marketing to stay stable is maintaining a better customer relationship with the market during a long run market status.

 The market and marketing activities can be extended and expanded by advanced technological implementations of ideas and providing 100 percent satisfaction to the customers with unlimited background works such as working on the customers issues and feedbacks, review without relaying only on profit, profit is a third kind of expectation for the startup companies whereas for the well established industries profit is based on the retainment of customers with 100 percent satisfaction. “Planning and executing process is known as marketing conception. Also the organizational objectives with satisfying a individual and to create customer services in exchanging ideas, distribution of ideas, pricing and promotion.”

While this definition can help in better comprehending the parameters of marketing, it does not provide a full picture. The marketing defined till now is just an alternative meaning specified by the customers and the ultimate end users but its not the exact definition of the prescribed elements. The following are the some of the equivalent definitions given by some expert thinkers about marketing and its elements.

1. The mission of any organization or firm depicts the exactness or the ultimate objective that is going to be the out put or out come of that particular firm or organization which may further be mentioned as the organizational goal which will be a mirror image of the organization business philosophy.  

2. Every organization has a set of functional areas such as (e.g., accounting, production, finance, data processing, and marketing) in which tasks that is necessary in bringing an organization to perform in a righteous way towards its success. Thus the functional areas must be managed if they are to achieve maximum performance.  

3. Every functional area is being guided by a philosophy such as (derived from the mission statement in other words organization goals) which will govern its towards its ultimate approach to a set of tasks.  

4. Marketing differs from the other functional aspects such as their basic concerns which interchange in evolution of markets; outside the organization it is (known as transactions).  

5. A successful marketing is observed when its philosophy, tasks, and manner of

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