Marketing Myopia (Team 5)
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Transcript of Marketing Myopia (Team 5)
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Marketing Myopia
Presented by-
Vruti Shah
Vivek Kedia
Yashraj Bhatt
Viraj Patil
Vivek Kapasi
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Key Learnings
• What business are we in?
• Substitution Effect
• Complacency – Population Myth
• Achieving Sales Target – Production Pressures
• Focus on Product & not Customer
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What Business are we in?
• Growth is life
• Obvious opportunities exhausted
• THINK AGAIN!
• Helicopter View
• Cater to the sector & not the industry.
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What Business are we in?
•Selling EXPERIENCE… NOT Movies
•Facilities – Cafeteria, Parking space, Shopping, Recreation
MULTIPLEXES
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What Business are we in?
• COMMUNICATION & NOT Tele-communication.
• Mobile - Faster & cheaper.
MTNL
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What Business are we in?
•INDIAN POST OFFICE
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Substitution Effect
• Every product is substituted… sooner or later.
• The belief – no competitive substitute will be available – MYOPIC APPROACH.
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Substitution Effect
•CABLE OPERATORS – TATA SKY (DTH)
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Substitution Effect
• Identified Potential Threat – TATA 1Lac Car
• Exploring Introduction of $3000 Car
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Population Myth - Complacency
• Increase In Population – Increase in Income - Increase in Sales???
• To Survive – CUSTOMER FOCUS – Innovation
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Population Myth - Complacency
•Largest Network of Branch – Assumed Leadership Position
•No Focus on Service – Today having tough time
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Population Myth - Complacency
•Sugar Industry – Complacent
•Customers Demanding Low-Calorie Products
•Absence Of Customer Oriented innovation
•Availability of low calorie,economical substitute – Kills the Market
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Production Pressures – Hardcore Selling
•Mass production – Low cost – But No guaranteed sales
•To MOVE products – Selling Is done and not Marketing
•Creating, Delivering And SATISFYING Consumer is required
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Production Pressures – Hardcore Selling
•Mobile Service Provider - DSA
•To Reduce Cost – increase Subscriber base
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Production Pressures – Hardcore Selling
•Banks like ICICI use aggressive marketing for Credit cards & loans.
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Production Pressures – Product Provincialism
•Change your product to adapt to the changing patterns of consumer tastes & needs.
•No amount of improvement can stave off its death.
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Dangers Of R&D
•Even a Superior product Sells If & Only If Consumer need is satisfied & it is well marketed.
•Excessive R&D sometimes leaves marketing strategies high & dry.
•Understand the Consumer First and then develop the product to suit his need.
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Dangers Of R&D
•Microsoft “ZUNE” – “Apple iPod”
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Dangers Of R&D
•POWER(HPCL) & SPEED(BPCL) could have done with better marketing.
•The companies don’t focus on other possible sources of energy.