ALL ABOUT MARKETING

PRESENTED BY:MARKETING GROUP(PGDM 2008-10)

Identifying & meeting human and social needs profitably.

‘Exchange’

At least two parties Each party has something of value to other party Each party is capable of communication and delivery Each party is free to accept or reject the exchange offer Each party believes it is appropriate or desirable to deal

with the other party

What is Marketed ?

Goods Services Events Experiences Persons Places Organization

Marketing environment The marketing environment surrounds and

impacts upon the organization. There are three key perspectives on the marketing environment, namely

'macro-environment 'micro-environment'

TYPES OF ENVIRONMENT

Micro Company Suppliers Stakeholders

Macro Economic Technological Political-Legal Social-Cultural

LAWS OF MARKETING Law #1: The Law of Leadership Law #2: The Law of the Category Law #3: The Law of Perception Law #4: The Law of Focus Law #5: The Law of Exclusivity Law #6: The Law of success Law #7: The Law of hype Law #8: The Law of resource

MARKETING MIX

4P’S PRODUCT PRICE PROMOTION PLACE

PRODUCT LIFE CYCLE

Different Stages of Product Life Cycle

Introduction Growth Maturity Decline In reality very few products follow such a

prescriptive cycle. Some go from introduction to decline. It is not easy

to tell which stage the product is in. Remember that PLC is like all other tools. Use it to inform your gut feeling.

Those activities directly involved in obtaining , consuming and disposing of products and services, including the decision processes that precede and follow these actions

Overall Model of Consumer Behaviour

Self-Concept&

Learning

Decision ProcessesExternal Influences

Internal Influences

culturalSocial status

demography

Perception

Motives

PersonalityEmotions

Attitudes

Problem Recognition

Information Search

Alt Eval & Selection

Outlet select & Purchase

Post purchase Processes

MARKET RESEARCH What is Marketing Research ? Systematic design, collection, analysis and

reporting of data and findings relevant to a specific marketing situation facing the company..

MARKET RESEARCH Why is Market Research required ? Identify & define problems including cause, Important to understand consumer, likes and

dislikes and reasons for them. Design new products or services accordingly. Develop promotional and distribution strategies in

line with consumer preference.

Market research process

Situation Analysis

Research design

Sources of data

Data analysis

Report preparation

Recommendation and follow up

Preliminary investigation

Areas of marketing Research

Market Research

area

Product

Price

Distribution channel

Advertising

Sales Promotion

Personal Selling

Brand Packaging

DEFINATION Market segmentation is the process in

Marketing of dividing a market into

distinct subsets (segments) that behave

in the same way or have similar needs

Why Segmentation?

To identify Different Segment of Buyers Select One or More segment to enter To select Market Offering To compete Effectively

Targeting It is the second step in market identification process. It recognizes the diversity of customers and does not try to

please them with the same offering Target market is, the market segment to which a

particular product is marketed. Targeting is the selection of the customers you wish to

service. The decisions involved in targeting strategy include: which segments to targeting how many products to offer which products to offer in which segments

Positioning

Positioning is the development of a service and a marketing mix to occupy a specific place in the minds of customers within target markets.

Positioning is all about 'perception'. As perception differs from person to person, so do

the results of the positioning map. The term 'positioning‘ also refers to the consumer's

perception of a product or service in relation to its competitors.

7 STEP OF NEW PRODUCT DEVELOPMENT PROCESS

IDEA GENERATION. IDEA SCREENING. CONCEPT DEVELOPMENT. BUSINESS ANALYSIS. PRODUCT DEVELOPMENT. MARKET TESTING. COMMERCIALIZATION.

WHY NEW PRODUCT FAIL OR SUCCED

Successful factors of new product

Unique feature Understand customer need R&D of the company Innovative idea

Failure factor…… Lack of product uniqueness or superiority Poor planning Improper Timing Technical problems Inadequate marketing research High cost

Marketing Strategy

Product Market Growth Strategies

Market Penetration(increase usage)

Product Development(new uses)

Market Development(new users)

Diversification(new users, new uses)

Markets

Products

Old

Old

New

New

Marketing Strategy

Difference Between where we want to go & where we are.

A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage[3 A marketing strategy should be the key concept that customer satisfaction is the main goal.

NICHE MARKETING

A NICHE IS A NARROWLY DEFINED CUSTOMER GROUP.SEEKING A DISTINCTIVE MIX OF BENEFITS.

CUSTOMER ARE READY TO PAY A PREMIUM AMOUNT.

NICHE IS FAIRLY SMALL SIZE,BUT HAS PROFIT AND GROWTH POTENTIAL.

NICHE MARKETERS AIM TO UNDERSTAND THEIR CUSTOMER NEEDS VERY WELL.

EXAMPLES…………

EZEE – LIQUID DETERGENT QTV,AASTHA – T.V CHANNEL HALL MARK – PERSONAL EXPRESSION CARD D.C - CAR MODYFICATION FIRM

Distribution Channel There may be a chain of intermediaries, each

passing the product down the chain to the next organization, before it finally reaches the consumer or end-user.

This process is known as the 'distribution chain' or the 'channel.'

Each of the elements in these chains will have their own specific needs, which the producer must take into account, along with those of the all-important end-user

Types of Distribution

Intensive Distribution Exclusive Distribution Selective Distribution

BRANDING What is Brand? E.g. of the brand : Orange : Wherever you go, our network follows. Reliance India Mobile : Kar lo Duniya Mutthi

Mein. Raymond : For the complete man. Tata Salt : Desh ka namak Nokia :Connecting people Aaj Tak : Sabse Tej.

Role of Brand Management: Long Term

Short Term

Types of Brands: Manufacture Brands. Dealer Brands.

CONCEPT OF INTERNATIONAL MARKETING

Domestic market extension Multi –domestic market Global marketing

REASON FOR GOING INTERNATIONAL

Saturated home market Competition Excess capacity Advantage in product, skill or technology Product life cycle differences Geographic diversification Organizational reasons Financial reasons

DO’S AND DON’T’S IN MARKETING

Do’s Time Plan & Prioritize Renewing Contacts Relationships Enthusiasm & Momentum Praise Logically Rhetorical Find & Help

DO’S AND DON’T’S IN MARKETING

DON’T’S

Trifling – Conversations Never Fail –Appreciation ; Lead Never Forget & Never Let Commitments – Clients/Customers Inside; Outside – Ball court Don’t Only Products – But also Ideas Trickery & Subterfuge – Dishonest action to achieve aim Meet & Greet Convince & Confuse

THANK

YOU !