Marketing, its problems and methods

Front matter

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Contents

Pketagb .*.'.*. V . T

I. iMTBODircnON •• 1

2. Commereial Organisation in the Eoonomio Ptaoen 2

Part I Raw Materials And Foodstuffs ^

N n. Analysis of tbb Commoditt 21

19. Purpose 21

21. Characteristics of the Commodity 22

22. New or Established Commodity 22

28. Necessity or Luxury 23

24. Staple or Novelty 24

25. Perishable, Semi-perishable, Non-perishable • • . 26

26. Dependability of Supply of Commodity .... 26

27. Control of Supply 28

28. Substitutes 29

29. Units of the Commodity 29

30. Requiring or Not Requiring Preparation .... 80

31. Indepen<fent or Group Product 81

32. Varieties, Species, etc 31

Tii via CONTENTS

33. Physical and Chemical Teiti ~~32

34. Supply of Commodity 33

35. Means of Plxxiuction 34

36. Geographical Location of Producing Regbns ... 36

37. Historical Survey of Plxxiucing Regions .... 37

38. Characteristics of Plxxiucing Aegions . . • • 38

39. Volume of Production 40

40. Value of Output 40

41. "Visible Supply" 40

III. Analtbib of thb Mabket 42

43. The Market 42

44. Geogn^hical Location of Maricet Centem . > . 43

45. Boundaries and Overlapping of Market Areas . 48

46. Market Competition 49

47. Consumer Demand in Relation to Matket Centen . 50

48. Character of Market Demand 50

49. Character of Market 52

50. Historical Considerations ........ 53

51. Climatic Considerations . 56

52. Seasonal Considerations 56

53. Financial and Market Relationship ..... 57

IV. Tbadb Orgajnization 61

55. Functions and Institutions 61

56. Market Functions 62

58. The Transportation Function 65

60. The Warehousing Industry 65

61. Commercial Grading and Inspection .... 65

62. Market News 66

64. Financing Distributbn 67

65. Trade Or^nisations Modified by Commodity . . 68

66. Strategic Points in Marketing 69

67. Thuie Ormnisation Chart 71

68. Types of Trade Organization 72

69. Typical Organisatbn Charts 81

70. Flexibility of Trade Oisaniiation ...••. 82

V. Thb MiddlbuAn 87

72. Who the Middleman Is 87

73. Development of Middleman Functions .... 88

74. Buyers and Sellers in the Local Maricet .... 94

75. Buyers and Sellers in the Wholesale Trade ... 96

76. The Retail Trade 102

77. Tendency to Eliminate Middlemen 104

78. Outstandiiig Problems 105

GONTEWTB ix

TL Tbanbpobtation 107

79. Tran^)ortation as a Commercial Problem . • • 107

80. TRmsportatiQn to Local Market 110

81. Transportatioa to the Primary Market . . . . 113

82. Tranaportatiou to Terminal Markets 117

83. Rate Districts 117

84. New Endand Rate District 119

85. Trunk Lme and Central Traffic District ... 119

86. Trans-Mississippi and Trans-Missouri District 120

87. Southeast Rate jDistrict 120

88. Texas Rate District 121

89. Pacific Coast and Transcontinental Rates . . . 122

90. Claasification Rates 122

91. Commodi^ Rates 123

92. Terminal Charges 124

93. ftiedalCan 125

94. C&r Supply and Routing 126

96. Demurrage 128

96. Trolley Unes 129

97. Motor-Truck Lines 130

96. Conchision 130

Til. Qboanizbd Ezcbangbs . 134

99. What an Oivanized Exchange Is 134

100. P^mctions of Organised Exchanges 135

101. Produce Exchanges 138

102. Grain Exchanges 140

103. The Cotton Exchange 142

104. The Coffee Exchange 145

105. Butter and E^ Board 146

106. Stockyards 146

107. WoolMarket 149

108. Iron and Steel Institute 150

109. Sugar Exchanges 151

110. TheAuctiott 15r

112. Municipal Markets 155

118. Speculation as a Conmieroial Problem .... 155

Vm. Teob Wabehoubs 159

116. Recrat Developments in Warehousing .... 159

116. Functions of the Warehouse 163

117. Economic Advantages of the Warehouse . . . 165

118. IVpes of Warehouses 166

119. Il^ General Mercantile Warehouse 166

120. The Bonded Warehouse 168

12L The Gram Elevator 168

122. Cotton Warehouses 171

123. Wool Wardiouses 173

CONTENTS . _

124. Tobaooo WaiehoiueB 174

125. Cold Storage 175

126. Stockroonu 178

127. Warehousing Problems 179

128. Place of Ws^ouse in Commercial Organisation . 180

129. The Need of Uniform Standards 183

130. Commerciid Function of Grading 184

131. Scientific Analysis as a Basis for Grading . . . 187

132. Machinery for Grading 188

133. Commercial Units and Standards 189

137. Potatoes 195

138. Hides and Skins 197

141. Tendency to Gradins and Effect on Commodity . 199

142. Effects upon Trade Organization 201

143. Grades and Prices 201

144. Responsibility for Standard Grades 202

145. Grading and Packing 203

X. Tbadb Information 205

146. What Is Trade Information? 205

147. Function of Market News .• • • ^7

148. Organization for Securing Market Information . . 209

149. Gov^nmental Organizations 209

150. Private Organizations 213

151. Essentialsof Market News 217

152. Control of Trade Information 218

153. Discounting the Future . . , 219

154. Trade Information and Competition 220

155. Use and Abuse of Trade Information .... 221

156. Market News as a Business Force 222

XI. Markbt Pbicb \ . 225

157. Price Factors and Influences 225

158. Local Market Price 228

159. Primary and Terminal Market Pnce . . • . ' . 230

160. Retail Prices 235

161. Price Quotations 239

162. Price '^Steps" or Intervals 241

163. Sympathetic Prices 241 >

165. Price F&ing 243

166. Fair Price 244

167. Prices and Costs . . ; . 246

CONTENTS xi

Zn. FiNAifciNCi DiBTStBtrnoN 248

168. The Relation of Finanoe to Marketbg .... 248

189. Methods of Sale 248'

170. The Check 260

171. Bfll of Exchange 251

172. BOl of Lading 264

173. The Warehouae Receipt 264

174. The Trade Acceptance 268

175. Functions of Credit Instromenta 270

PART n MANUFACTURED PRODUCTS

^ Xm. ASALTSm OF THB COMHODITT 277

176. Differences Between Raw Materials and Finished

Goods 277

177. Historical Development 278

178. Philosophical Analysis 280

179. Analysis D^>endent on Point of View .... 281

180. Character of Demand 284

181. Supply of Commodity 288

182. AnalyBis'a Middleman Function 291

183. Analysis and Grading 292

184. Analysis and the Market 293

185. Some Aspects of Market Analysis 296

186. Trade Geoffraphv 296

187. Historical Considerations 298

188. Market Units 300

189. Social Elements in the Market 301

190. Population Movements ....••.. 303

191. Population Analysis 304

192. Incomes 306

193. Budgets 307

194. Individual Items 309

195. Shifting Demand 310

196. Form and Scope of a Market 311

197. Fmancial and Trade Conditions 312

198. The Human Element 313

199. Character of Distributive Organization .... 316

200. Development of Distributive Organization . . . 317

201. Channels of Distribution 325

202. Choosing Ftoper Agencies 330

203. Types of Trade Organization 332

204. Chaos in Trade Organisation 337 iH COimiiNTB

XVI. *'Nbw Ttpb'' RsTAiLEaB 840

206. Regular Venua New Type Retailer 940

206. The Department Store 841

207. The Cham Stom 847

206. The Mail-Order House 351

209. The Manufaoturer'fl Branch Store . • . « . 355

210. The Codperative Stores 357

211. Cooperative Buying 358

XVn. BnsiNiBSS PouczBS 362

213. What the Business Policy Is 362

214. The House or Store Foli<7 362

215. General Price Problem 364

216. Calculating Price Percentages 368

217. Maintained Prices 369

218. Commercial Phase 370

220. PtoUem of Credit 374

221. Unfair Competition ..377

222. Price Cutting 379

XVIII. DEVBNDINa AMD EzTBMDZNQ THB MaBKBT .... 384

223. The Problems of Market Extensbn 384

224. Scope and Character of Market 385

225. Analyzing the Appeal 386

226. Appearance of Commodity Unit , . 387

227. Identification of Commodity . 393

228. Trade Names . 394

229. Trade-Marks r . . 396

230. Plant or Store as Appeal Asset 399

231. Potential Markets * . . 401

XIX. Thb Sales Oboanizatzon 405

232. The Importance of a Sales Organixatioa .... 405

233. The Sales Manager 406

234. Persoimel Department 407

235. Selecting the Sales Force 407

236. Training the Sales Force 409

237. Hokiing Sales Conventions 413

238. Disciplming the Sales Force 413

239. AdvertiBing Department 413

240. Sales-Promotion Department 414

241. Keeping Records 414

242. Coordinating the Force 415

243. Advertising Manager 416

244. Advertising Agency . .' 417

245. Research Department 419

246. Sales Conferences 419

247. General Consideratbns of Salesmanship • . • . 420

CX>NTENTS

EcoNoiaoi o9 ADTWimNQ 426

24a. The Study of AdvertttiDg Media 426

24». What fiiAdTertiBmgr 427

26L Character of Market and AdvertifliDg .... 430

262. 8lae of Market and Advertiamg 432

268. Selection of Media 432

264. NewapapeiB 483

266. Magaiines 486

266. HooeeOisans 487

267. BumneoB Letters 438

268. Oatdoor Ad^ertHmg 430

260. StreetrCar Advertumg 480

2ea Window DkfplayB 441

261. CatafegoflB 442

262. ''Dealer Helps'' 443

268. Demanstratois 448

264. Checking Up Returns 444

MmiOHAWPBBwq Costs and Fbicbs 448

266. Faetors of Eroense 440

266. CommiflBicHis for Jobbers and Broken .... 462

268. Bayins Advertising Space 465

200. Price Influences 466

27a Price Systems 462

271. Profits 463

272. One-Price Policy 464

278. UstPrice 464

274. Discounts 464

276. Seasonal Prices 466

276. SpeculatlTe Prices 466

277. 'lTanQ)ortation Charges 466

278. The Forces of Social Control ....... 460

270. Enforced Competition 470

280. Protecting Standards 471

281. Ptatecting Rights 472

282. Enforcing Honesty 478

288. Price Control 476

284. Poblio UtiUties 476

286. Methods of Control 476

286. By Enacting Laws 476

287. By Licenfles or Examinations 477

288. BylVuntion 477

280. By Force of Example 478

290. By Group Action 478

201. ByPuUleity 470

MS. By limitittg Pkofits 480 xiv CONTENTS

294. By "Suggeeting" Prices 480

296. Madiinerytor CJontrol 481

296. Governmental Machinery 481

297. Private Machinery 483

IHXMBZ J ... 487

ILLUSTRATIONS

Oiait of Channels of Food Difltributbn '70

Maiket OrgEuusatkm Chart for Fann Products 71

Maiket OrgGuuzataon Qiart for Bituminous Coal 81

Mtt&et Organization Chart for Pig Iron 82

Maricet Organisation Chart for Cane Sugar 83

Mailcet Oiganization CSiart for Antimony Ore 84

Map of RaifaxMul Freight Ckasification Territories and Fieii^t

Traffic Association Territories 118

Oiart of the Auction System of Handling Ploduoe .... 153

Cbarta Showing Effect of Cold Storage on Butter and Egg Prices 234 Cbarta Showing the Effect of Price Fixing During the War . 244,245

Bin of Ezdhange, with Endorsements 253

Warehouse Receipt ^ 267

TVmde Acceptance ^ 270

Market Organization Chart for Shelf Hardware 334

Marfcet Organization Chart for Farm Implements 836

ITS PROBLEMS AND METHODS