BUSINESS LETTER FORMAT:

Address
Telephone Number
Email Address
Date
Recipient's Name
Address
Dear Mr./Ms. (Recipient's Full Name),
Subject: (PURPOSE OF THE LETTER)
In the first paragraph, you can introduce yourself, if the recipient does not know you. After this, mention the purpose
of the letter. (Use Double Paragraph Spacing)
In the second paragraph, give out the details i.e., the facts that support the statement you made in the first paragraph.
You can end the letter with this paragraph or you can have another one, if the information you want to convey does
not fit in this paragraph. Complete the letter by thanking the recipient for taking out time to read the letter.
Respectfully Yours,
(Your Signature)
(Your Name)
Enclosure(s) (mention the number)

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Sample Letter : Letter to a friend inviting him for your birthday party.
12 XYZ Lane,
PO Box: 1234,
New Delhi
13th February 2014
Dear Aditya,
How are you my friend? It has been some time since we met. How was your trip to Kerala? Hope you enjoyed. I received all the postcards which you had sent me
from there. Thanks a bunch! I loved each of them.
Hey! Guess what? My Aunt has organized an early birthday party for me, and she has asked me to invite all my friends. You know very well that no party of mine is
complete without you. So please be at my place this Sunday. The party doesn't start till 4, but do come early so then we can play with my new play station. Bring
Anjali along with you too. Don't be late.
Hope you parents are all right? Give them my regards. And wish you all the best for your basketball match today. Miss you loads pal. See you this Sunday.
Take care,
Deepesh
P.S.- Don't forget to bring me my novel which I borrowed you last time.

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014
Dear readers, Here we are presenting you some quick notes on Marketing which will be helpful in the upcoming SBI Associates PO - 2014 Exam.

Quick Notes:
1. Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service.
2. Mass Marketing means marketing the mass produced goods.
3. Strategic marketing means decision making process that involves the analysis of the internal capabilities and external environment of a company.
4. Stimulation marketing means there is no demand for the product and people are not interested to purchase the product hence special offers are
given to stimulate the people.
5. Synchrome marketing means irregular demand.
6. De-marketing means the demand for the product exceeds the supply.
7. Producer goods means goods which are priced high and required a few to produce other goods in the industry ex: lathe, motor etc
8. Consumer goods are required in large number and directly used by the consumer.
9. Derived goods means the demand for the product is derived from the demand of other products ex: the selling of stabilizer depends upon the
selling of TVs and refrigerator.
10. The client of an advertising agency is called Customer.
11. CRM means Customer Relationship Management.
12. Segmentation of consumer market is based on consumer characteristics and consumer responses.
13. B2B means business to business
14. Database marketing is direct form of marketing.
15. A Buyers Market means supply exceeds demands
16. Niche market means a specified market for the target group.
17. HNI marketing means High Networth Individual.
18. Relationship marketing is useful for cross selling of products.
19. Good public relations indicate

Improved marketing skills

Improved brand image

Improved customer service

20. Marketing functions includes

Designing new products

Advertisements

Publicity

After sales service

21. Effective selling skills depends on

Effective lead generation

Sales call planning

Territory allocation

Effective communication skills

22. Marketing channels mean

Delivery period

Delivery outlets

Delivery time

Delivery place

23. Marketing information means

Knowledge level of marketing staffs

Information about marketing staff

Information regarding share market

Knowledge of related markets

24. A DSA means Direct Selling Agent.

25. Service marketing resorted to in Insurance companies and banks.
26. Service marketing is same as

Internet marketing

Telemarketing

Internal marketing

Relationship marketing

27. Market segmentation helps to determine target groups.

28. The seven Ps of marketing

Product

Price

Place

Promoting

Process

People

Physical Evidence

29. SWOT Strengths Weakness Opportunities Threats.

30. Standard marketing practices include lowering the selling price.
31. USP of a product means Unique Selling Proposition.
Rosser Reeves coined the term USP.
32. MBO means Management by Objectives (Peter Drucker)
33. AIDA Attention Interest Desire Action
34. BTL Below the line
35. Right-time marketing is an approach to marketing which selects an appropriate time and place for the delivery of a marketing message.
36. A group of related products manufactured by a single company is called product line.
37. MDSS Marketing Decision Support System.
38. Target group for the marketing of Internet Banking All the computer educated customers.
39. Innovation means new ideas and product designing.
40. Service after sale is not the function of marketing staff.
41. A good seller should have the following quality/qualities

Devotion to the work

Sympathy

Submissive

42. Planned cost service means additional profit on same cost.

43. A non-traditional, low-cost, flexible and highly effective marketing is termed as Gorilla marketing.
44. The aim of successful marketing is to increase the outlet of the seller.
45. Low end market means a market for lower price products.
46. The strategy used to charge different prices for the same product is called price discrimination.
47. The system designed to support marketing decision making is marketing information system.
48. Conversion in marketing means converting suspect into prospect.
49. MC means Marginal Cost.
50. Personalized marketing (also called personalization, and sometimes called one-to-one marketing) is an extreme form of database
marketing. Personalization tries to make a unique product offered for each customer.

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What is Demarketing?
Demarketing is a type of marketing which discourages certain customers on a temporary or a permanent basis. This marketing is mainly applied on such products
which are either harmful or very rare. Example: Tobacco, petroleum products, water, electricity etc.

This marketing process is generally supported by government or international organization with a sole aim of humankind welfare. It is also done for the sake of
conservation of resources, controlling inflation, eliminating the factor of over competition and over demand.

This technique is applied by following methods:

Bringing substitute

Suppress demand

Increase the cost of the product itself manifold

Through government legislation

What is Remarketing?
Remarketing is a marketing process by which the demand of such product is renewed which has witnessed declining trend of demand. It is done by spreading
awareness in general, introducing new and interesting use of the existing product, resale of second hand well fabricated products.
This concept of marketing is opposite to the Demarketing concept.
What is Synchro Marketing?
Synchro Marketing is marketing process which solves the problem of irregular demand pattern of a product. For example a Beach side hotel is overcrowded during
evening time, whereas it is almost like desert during morning hours. A cotton shop is crowded during summer season whereas during winter it is not.So, Synchro
Marketing finds a way to solve the problem of inconsistent demand pattern by the following methods:
(a) Keeping high price during season
(b) Offers lucrative options during offseason
(c) Using the stores with many varieties of item
(d) Promotion and incentives
What is differentiated marketing?
This is a type of marketing in which customers are divided into groups on the basis of some common characteristics like religion, income, age, sex, caste,
education etc. Thus the customer base is segmented. This is why this marketing is also known as market segmentation. This technique is customer oriented with
higher customer satisfaction and profits.
It has following advantages:
(a) Increased sales and profits
(b) Large number of customers from all segments
(c) Quality products manufacturing can be accurate
(d) Customer oriented
It has following disadvantages:
(a) Chances of cost rise due to small quantity manufacturing. So, it is opposite to mass
marketing.
(b) Huge amount of work for R & D for customer segmentation.
(c) Wastage of money for separate advertisements for different segments
What is market segmentation?
It is a marketing strategy which involves the following criteria:
(a) Divides the target consumer/market as per their common want/need/relevant goods.
(b) It is internally homogenous and externally heterogeneous.
(c) Cost effective
(d) Profit maximization
(e) Responsiveness
(f) Sustainable
(g) Measurable
(h) Needs can be satisfied by particular product category
So, through this strategy, within a market, a market segment is created which is a subgroup of people or organization. Sharing one or more characteristics that
cause them to have similar needs. So, this strategy is a process of enabling the marketer to tailor marketing mixes to meet the need of one or more specific
segments.
It has following advantages:
(a) It helps decision makers to more accurately define marketing objectives and better allotment of resources.
(b) Performance evaluation is also more precise.
(c) Better marketing results.
What is undifferentiated marketing?
It is just opposite to differentiated marketing and similar to mass marketing. Under this technique company identifies the entire consumers as one with common
head. This strategy does not consider segmented demand pattern. It involves same product, same brand, same price, same marketing program, same advertising
media with mass production and distribution.
It has following advantages:
(a) Large scale production is possible.
(b) Cheap products
(c) One type of advertisement, so, less expense
(d) One marketing mix
(e) Single brand name
It has following disadvantages:
(a) It is product oriented rather than consumer oriented.
(b) Reduces profits due to product competition.

Read more: http://www.bankersadda.com/2014/10/sbi-associates-po-marketing-notes-v.html#ixzz3HgwXfDb6

Notes - I
Hello Readers,
As we all know, SBI Associates PO exam will held in the month of November 2014 and Marketing is asked in the exam. Starting today, we will try to
provide Notes on Marketing everyday, which will help you in the exam. Hope it helps!!
What is the market?
Any structure which may be a place or may not be can be defined as the market that allows buyers and sellers to exchange any type of goods, services
and information. It can also be called as an arrangement constructed by buyers and sellers. It facilitates trade and enables the distribution of resources
in a society.
Thus a market:
1. It establishes the prices of goods and services.
2. It consists of systems, institutions, procedures, social relations and infrastructure.
3. It brings a sense of competition.
4. It works on a basic force of demand and supply.
Types of market:
On the basis of place
1. Local market
2. National market
3. International market
On the basis of time
1. Very short period market
2. Short period market
3. Long period market
4. Very long period market
On the basis of competition
1. Perfectly competitive It consists many sellers. E.g. Mobile market, internet providers etc.
2. Imperfectly competitive
(a) Monopoly one seller. E.g. Indian Railway
(b) Duopoly two sellers.
(c) Oligopoly few sellers. E.g. petroleum product market
(d) Monopolistic many sellers
On the basis of product
1. Consumer market - These are the markets where products and services bought by consumers for their own and family use.
Types:
(a) Fast moving consumers goods (FMCG)

High volume

Low unit cost

Fast and frequent purchase

E.g. Biscuits, soaps, detergents, newspapers etc.

(b) Consumer durables

Low volume

High unit cost

E.g. Freeze, TV, computers, motorbikes, laptops etc.

(c) Soft goods - It is like consumer durable.

Low/high volume

High/low unit cost

Frequently purchased

E.g. Clothes, shoes, specs etc.

(d) Services

Targeted consumers

Brand name more important

Intangible

E.g. Health insurance, beauty parlours, insurance etc.

2. Industrial market- These markets are not intended directly to consumers but among businessmen.

Finished goods market

Raw material market

Services

E.g. Accountancy, legal advice, security services, waste disposal services etc.
What is a market economy?
It is an economy system in which economic decisions regarding monetary control, products and their production and methods and control over
distribution are based on supply and demand. These are decided solely by the aggregate interaction of a countrys citizens as consumers and
businesses and there is very little government intervention or central planning.
Since in market economy, markets are governed by the law of supply and demand, the market itself will determine the price if goods and services.
Businesses can decide which goods to produce and in what quantity and consumers can decide what they want to purchase and at what price. The
prices of goods and services are determined in a free price system. In such economy, the government allows and protects ownership of property and
exchange. Government plays an important role as the protector of property rights and individual liberty.
In theory, market economy is completely different from practical market economy. However most developed nations today can be classified as mixed
economies, they are often said as market economies because they allow market forces to drive most of their activities, typically engaging in
government intervention only to the extent that it is needed to provide stability. It can be contrasted with planned economy or centrally planned
economy, in which government decisions drive most aspects of a country's economic activity.
What do you understand by Market Penetration?
Market Penetration is basically a strategy to increase the base or market share of the existing product. It is one of the four growth strategies of the
product market growth matrix defined by Ansoff. It occurs when a company penetrates a market in which current or similar products already exist.
Market Penetration can be done by the following means:
(a) Attracting nonusers of the product
(b) Encouraging existing users to use more quantity of products.
(c) Advertisement
(d) Mega sales
(e) Lowering prices
(f) Bundling
Market Penetration can also be mathematically calculated using following formula
Market Penetration = (sales volume of the product 100) total sales volume of all competing products.
What is a product?
A product can be defined as anything which can be offered to a market to satisfy a need or want. Here want or need can be different from different
angles. For example if a product biscuit is sold in a market, it is satisfying the need of stomach of a person and same time maximizing profit of the
company selling the biscuit. In retail product are called as merchandise.
Product can be classified as:
1. Tangible Vehicle, cloth, gadget etc.
2. Intangible Cannot be perceived by touch. E.g. sad songs, action movies etc.

3. Branded It carries a brand name.

4. Unbranded It does not carry any brand name.
Note Goods, idea, method, information, object or service that is the end result of a process and serves as a need or want satisfier. It is a bundle of
tangible and intangible attributes like benefits, features, functions, uses etc. that a seller offers to buyers for purchase.
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Notes - II
Hello Readers,
As promised, here we are providing you all the Marketing Notes for SBI Associates PO 2014. Please refer to the previous post of the Marketing Notes
too. The link is given at the end of the post. Happy Reading!!
What is a good?
It can be defined as something that is intended to satisfy some wants or needs of a customer with some economic utility.
Types:
On the basis of tangibility
(a) Tangible goods However in economics, all goods are considered tangible but in reality certain classes are not tangible like information. All
tangible goods occupy physical space.
(b) Intangible goods - Cannot be perceived by touch. E.g. information (it is different from services because final in goods can be transferrable and
traded but not services)On the basis of relative elasticity
(a) Elastic goods It is one for which there is a relatively large change in quantity due to a relatively small change in the price.
(b) Inelastic goods It is one for which there is very little change in quantity due to relative change in the price.
Note
1. Normal goods Elasticity is greater than zero.
2. Inferior goods Elasticity is smaller than zero.
3. Luxury goods Elasticity is greater than one.
4. Necessary goods Elasticity is less than one.
Other types:
(a) Convenience goods These are easily available to consumers without any extra efforts. It mostly comprises non-durable goods. E.g. fast foods,
sweets, cigarettes, etc.
(b) Staple convenience goods This type comprises basic demands like breed, sugar, milk etc.
(c) Impulse convenience goods These are goods which are bought without any prior planning with impulse. E.g. Candies, chocolates, wafers.
(d) Consumer goods These are final goods that are brought from retail stores to meet the needs and wants.
(e) Emergency goods These are goods that are bought quickly when they are urgently needed in the time of the crisis. These are typically
distributed at the stores.
E.g. Tents, flashlights, lighters, shovels, umbrellas etc.
(f) Specialty goods These goods are unique or special enough to persuade the consumer to exert unusual effort to obtain them. It means that they
are bought after extensive research. E.g. Designer clothes, painting, perfumes, limited edition cars, stunning design, typically expensive, antiques,
diamonds, wedding gowns etc.
What is a customer?
Customer can be defined as the recipient of a good, service, product or idea obtained from a seller, vendor or supplier for a monetary or their valuable
consideration.
Types:
(a) Intermediate customer These are who purchases goods for resale.
(b)Ultimate customer These are consumers.
What is a Captive Market?
Captive markets are markets where the potential consumers face a severely limited amount of competitive suppliers Their only choices are to
purchase what is available or to make no purchase at all. Captive markets result in higher prices and less diversity for consumers. The term therefore
applies to any market where there is a monopoly or oligopoly.
Examples of captive market environments include the food markets in cinemas, airports, and
sports arenas and food in jails prisons.
What is Marketing?
Marketing is the activity, set of institutions and process for creating, communicating, delivering and exchanging offerings that have value for customers,
clients, partners and society at large. It is a function that links consumers, public to the marketer of a product through information. Here the information
addresses the issues regarding all aspects of the products. Products can be tangible or intangible. It differs from selling because in selling, the main
motive remains the maximization of profit by way of selling a product but with absence of value but in marketing value is also considered at the par with
profit. So marketing is a integrated effort to discover, create, raise and satisfy customer needs with values. It is one of the competing concepts which
can be looked as an organizational umbrella function to benefit the organization with superior customer value.

What is niche marketing?

Niche marketing is a type of marketing in which a narrowly defined customer group is targeted. It focuses on small segment of consumers who have
unique and similar needs.
The market in which this marketing technique is applied is called niche market. E.g. Blackberry application or Android application, sports car, luxury
cars, internet based marketing etc.
This technique of marketing can be contrasted with mass marketing.
What is Relationship Marketing?
Relationship Marketing is a technique of marketing which involves creating and maintaining strong ties with customers and other parties like dealers,
suppliers, contractors, shareholders, stakeholders, employees etc.
This technique revolves around a concentric chain of long term relationship. It also includes Partner Relationship Management (PRM) apart from
Customer Relationship Management (CRM). Its main objective is to find, maintain and enhance the customer base and mutually long term satisfying
relationship.In Relationship Management buyer and seller continuously improves their understanding and thus they build up more loyalty towards each
other. The final product of this system is a
unique asset that is marketing network.
This marketing technique includes following steps:

Creating a customer database

Identifying key customers

Creating details

Getting closer through different channels

Maintaining relationship

Advantages of Relationship Management

Consistency of business within the marketing network

Long term brand recognition

Easy redressal of customer grievances

Read more: http://www.bankersadda.com/2014/10/sbi-associates-po-2014-marketing-notes.html#ixzz3HgwtkBuU

Hello Readers,
Here, we are presenting you the "Notes on Marketing" for SBI Associates 2014. Hope you like the post!!!
What is product life cycle management?
This management is a process of managing a product throughout its lifecycle. It starts from its introduction, growth, maturity and disposal.
This management integrates people, data, processes and business systems. It works in the following areas:
(a) Product system engineering
(b) Product and portfolio management
(c) Product design
(d) Manufacturing process management
(e) Product data management
This management process basically involves:
(a) Conceive Imagine, specify, plan, innovate
(b) Design Describe, define, develop, test, validate
(c) Realize Make, procure, produce, deliver, launch
(d) Service Maintain, support, sustain
(e) Dispose Recycle, disposal, retire
What is product life cycle?
In the same fashion of our life cycle i.e. birth, growth, maturity and finally death, a product also goes through a life cycle which consists of following stages:
(a) Product introduction/market development this is the stage when a new product is first brought to market. It can be on the basis of demand or innovation of
a company. In this stage sales are low and slow. However, thanks to our communication channels and modern management techniques that at this stage also
sales goes up.

(b) Market growth at this stage the demand begins to accelerate and it takes off.
(c) Maturity
(d) Disposal
What is marketing management?
It is a business discipline which applies different type of marketing techniques, resources, and trends. The application of this discipline can vary significantly based
on businesss size, culture and environment.
Marketing management employs various tools like SWOT analysis, product positioning, product differentiation, value chain analysis, strategic group analysis,
statistical surveys, ethnographic observations, competitive intelligence, environment scanning etc.
So, this discipline is very broad one and to create an effective marketing management, it is very necessary for a company to have its elaborated and objective
understanding of its own business model and markets.
What is marketing environment?
It is an umbrella term used for forces and variables inside as well outside the organization which influence the decision of marketing managers.
Marketing environment comprises trends that appear and disappear and determine the success of the organization marketing efforts. For better marketing and
formulation of a marketing strategy, it is necessary to scan internal and external marketing environment variables.
Marketing environment can be classified into three groups:
(a) Micro (internal) Objective of the company Finance Resources like man power, raw material, capital etc.
(b)Macro (external) Technology Economic Social Physical National/international
(c) Market (just outside) Competitors Intermediaries Suppliers Threats Opportunities
What is marketing mix?
Marketing mix is a tool in the hand of marketer, which is a mixture of several ideas and plans, to promote a particular product. Different models of marketing mix:
Four P model-This is also known as producer oriented model. It was proposed by EJ McCarthy in 1960.
Elements:
(a) Product The thing which is offered
(b) Price High/low, stable/fluctuating
(c) Promotion Brand recognition and positioning
(d) Place Convenient for consumers
Seven P model
It was proposed by Booms and Bitner in 1981.
Elements:
(a) Physical evidence Interior
(b) People Human resources
(c) Process Quality
Four C model
It is a consumer oriented model. It was proposed by Lauterborn in 1993.
Elements:
(a) Product Consumer
(b) Price Cost
(c) Promotion Communication
(d) Place Convenience/channel for consumers
Seven C model Elements:
(a) Consumers
(b) Cost
(c) Communication
(d) Convenience/channel
(e) Corporation
(f) Commodity
(g) Circumstances
Compass model Elements:
(a) N National and international
(b) W Weather
(c) S Social
(d) E Economic

Click here to View the Previous Notes on Marketing -

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Notes - I
Hello Readers,
As we all know, SBI Associates PO exam will held in the month of November 2014 and Marketing is asked in the exam. Starting today, we will try to
provide Notes on Marketing everyday, which will help you in the exam. Hope it helps!!
What is the market?
Any structure which may be a place or may not be can be defined as the market that allows buyers and sellers to exchange any type of goods, services
and information. It can also be called as an arrangement constructed by buyers and sellers. It facilitates trade and enables the distribution of resources
in a society.
Thus a market:
1. It establishes the prices of goods and services.
2. It consists of systems, institutions, procedures, social relations and infrastructure.
3. It brings a sense of competition.
4. It works on a basic force of demand and supply.
Types of market:
On the basis of place
1. Local market
2. National market
3. International market
On the basis of time
1. Very short period market
2. Short period market
3. Long period market
4. Very long period market
On the basis of competition
1. Perfectly competitive It consists many sellers. E.g. Mobile market, internet providers etc.
2. Imperfectly competitive
(a) Monopoly one seller. E.g. Indian Railway
(b) Duopoly two sellers.
(c) Oligopoly few sellers. E.g. petroleum product market
(d) Monopolistic many sellers
On the basis of product
1. Consumer market - These are the markets where products and services bought by consumers for their own and family use.
Types:
(a) Fast moving consumers goods (FMCG)

High volume

Low unit cost

Fast and frequent purchase

E.g. Biscuits, soaps, detergents, newspapers etc.

(b) Consumer durables

Low volume

High unit cost

E.g. Freeze, TV, computers, motorbikes, laptops etc.

(c) Soft goods - It is like consumer durable.

Low/high volume

High/low unit cost

Frequently purchased

E.g. Clothes, shoes, specs etc.

(d) Services

Targeted consumers

Brand name more important

Intangible

E.g. Health insurance, beauty parlours, insurance etc.

2. Industrial market- These markets are not intended directly to consumers but among businessmen.

Finished goods market

Raw material market

Services

E.g. Accountancy, legal advice, security services, waste disposal services etc.
What is a market economy?
It is an economy system in which economic decisions regarding monetary control, products and their production and methods and control over
distribution are based on supply and demand. These are decided solely by the aggregate interaction of a countrys citizens as consumers and
businesses and there is very little government intervention or central planning.
Since in market economy, markets are governed by the law of supply and demand, the market itself will determine the price if goods and services.
Businesses can decide which goods to produce and in what quantity and consumers can decide what they want to purchase and at what price. The
prices of goods and services are determined in a free price system. In such economy, the government allows and protects ownership of property and
exchange. Government plays an important role as the protector of property rights and individual liberty.
In theory, market economy is completely different from practical market economy. However most developed nations today can be classified as mixed
economies, they are often said as market economies because they allow market forces to drive most of their activities, typically engaging in
government intervention only to the extent that it is needed to provide stability. It can be contrasted with planned economy or centrally planned
economy, in which government decisions drive most aspects of a country's economic activity.
What do you understand by Market Penetration?
Market Penetration is basically a strategy to increase the base or market share of the existing product. It is one of the four growth strategies of the
product market growth matrix defined by Ansoff. It occurs when a company penetrates a market in which current or similar products already exist.
Market Penetration can be done by the following means:
(a) Attracting nonusers of the product
(b) Encouraging existing users to use more quantity of products.
(c) Advertisement
(d) Mega sales
(e) Lowering prices
(f) Bundling
Market Penetration can also be mathematically calculated using following formula
Market Penetration = (sales volume of the product 100) total sales volume of all competing products.
What is a product?
A product can be defined as anything which can be offered to a market to satisfy a need or want. Here want or need can be different from different
angles. For example if a product biscuit is sold in a market, it is satisfying the need of stomach of a person and same time maximizing profit of the
company selling the biscuit. In retail product are called as merchandise.
Product can be classified as:
1. Tangible Vehicle, cloth, gadget etc.
2. Intangible Cannot be perceived by touch. E.g. sad songs, action movies etc.
3. Branded It carries a brand name.
4. Unbranded It does not carry any brand name.
Note Goods, idea, method, information, object or service that is the end result of a process and serves as a need or want satisfier. It is a bundle of
tangible and intangible attributes like benefits, features, functions, uses etc. that a seller offers to buyers for purchase.

NOTE - Keep visiting for more notes on Marketing. We will try to update it everday!!

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