Marketing Basics (1)
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MarketingLESSON 101
What is marketing?The management process through
which goods and services move from concept stage to the hands of the customer. It includes the coordination of four elements called the 4 P's of marketing
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Needs, wantsdemands
Utility, Value &Satisfaction
Xchange, TransactionRelationships
Products
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
External Analysis:
Macro/micro environment, Porter’s 5
forces
Internal Analysis:
Analyze all functions,
5M framework,
Portfolio analysis
Internal + External Analysis:
SWOT Analysis
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Situational Analysis
External environment analysis (PEST = Political-legal, Economic-demographic, Socio-
cultural, and Technological)
Micro environment analysis (Value Chain Analysis = Customers, Competitors, Suppliers & Distributors)
Industry or competitive analysis (Porter’s 5 Forces Analysis)
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Situational Analysis
Rivalry among existing
firms
Threat of New
Entrants
buyer power
supplier power
Threat of
substitute
products
Porter’s 5 Forces
Very limited threat of new entrants as the two players are well established
The bargaining power is with the buyers owing to the stiff competition
In general the bargaining power of suppliers is limited as most of the supply comes from developing nations
The threat of substitutes is more as people are observed to switch to other hot drinks
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Marketing Objectives
Specific Measurable Achievable Realistic Time-bound
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Segmentation
Targeting
Positioning
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Segmentation
Targeting
Positioning
Market segmentation is the process of dividing the total market for a good or service into several smaller, internally homogeneous groups.
Segmentation is necessary because customers in a market have: Differences in buying habits Differences in the way the good
or service is used Different motives for buying
Segmentation
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Segmentation
Targeting
Positioning
Segmentation Parameter
Sample Segments
Geographic Continents: N America, Asia, Europe, AfricaWithin India: North, west, south etc.
Demographic Age, gender, income, Cohort, household typePsychographic VALs (Innovators, thinkers, achievers,
experiencers, believers, strivers, makers and survivors)
Benefits Convenience, economy, prestigeGeo-demographic Urban, established, sophisticated town houses,
affluent retireesLoyalty Not loyal, somewhat loyal, completely loyalUsage Rate Heavy, Moderate & Lower (Pareto’s Law 80/20
principle)Occasions Festivals, Everyday shopping list, self
indulgence
Segmentation
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Segmentation
Targeting
Positioning
Targeting
Targeting is the process of evaluating different segments and focussing on those which are most likely to yield the maximum benefits
Segment AttractivenessSubstantial
Accessible
Differentiable
Measurable
Actionable
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Segmentation
Targeting
Positioning Positioning
Positioning refers to the consumer’s perception of the product and its benefits in relation to its competitors. The aim is to occupy a clear, distinct and desirable space in the mind of the customer
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Segmentation
Targeting
Positioning Positioning
Identify
• Identify possible differences and competitive advantages - explore services, channels, people, image etc.
Chose
• How many differences to promote ?• Which differences to promote ? IDSCAP
Select • Select the right overall positioning strategy.
Develop• Develop a statement – To target segment, our
brand is concept that creates point of difference
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Sample Positioning Statement Frameworks
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Sample Positioning Statement
“Tide HE Turbo is the HE detergent that delivers more time and water saving, 6X
more cleaning power because only Tide HE Turbo has proprietary, quick-dissolving
Smart Suds™ technology that helps prevent HE Machines from running additional rinse
cycles”
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Core Concepts of Marketing
Situational Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
Product Life Cycle
Innovation Adoption Model
AIDA
AIDA
ANSOFF MATRIX
Audit and Control
Audit and Control involves constant monitoring during implementation to ensure that the intended outcomes are achieved.
•Monitor sales and profits against projections and annual plans
•Take corrective action as and when necessary
Operating Control
•Ensure current strategies are matched to opportunities
• Periodically assess overall approach to the marketplace
Strategic Control