Special Studies in Marketing - Lec 1
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Special Studies in Marketing
VSIT BMS 2012
Reema Rijhwani
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Agenda Section 1 • Principles of Marketing & Branding • Promotional Activities
Section 2• Consumer Behaviour
Section 3 • Communication
Section 4 • Media (Planning & Buying)
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Market (Mercor – to buy Latin)• Potential + existing customers sharing a common
need/want, able & willing to engage / enter in exchange to satisfy their needs/wants
Marketing • Identify, create & manage demand to provide
value to a customer for a profit – Kotler
Marketing Management • Optimal utilisation of resources to achieve
marketing objectives; Demand Management
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Marketing Mix
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Terminologies
Value Proposition • Bundle of benefits a product offers to fulfill
customer/consumer needs and wants Prosumer • Producing consumers, active, regular and
influencing consumers who also initiate feedbackProduct Line & Vertical extension • In different kinds & for all pockets
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Product Line Extension Product Vertical Extension
Rs. 20 / -Rs. 10 / -Rs. 5 / -
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Product Mix • Width – No. of product lines• Depth – No. of variations in a product line • Mix – Widht x Depth
Generic Product • Identical to the category
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Marketing Research
Types 1.Primary• Research Approaches – Survey, Behavioural
Data, Experimental research• Research Instruments – Questionnaires,
Psychological tools (laddering techniques, depth interviews), Mechanical devices, Qualitative measures
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2. Secondary Research• Internal Sources • Government Publication • Periodicals & Books• Commercial Data
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Marketing Research Process
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Segmentation
• Where to compete • Identify buyer subsets with similar needs
demonstrating similar buying behaviour
Effective Segment Measurable, Substantial, Accessible,
Differentiable, Actionable
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• Geographic – Region, City, Metro, Climate
• Demographic – Age, Family size, Family Life cycle, Gender, Income, Occupation, Education, Religion, Race, Generation, Nationality, Social Class
• Psychographic – Lifestyle, Personality
• Behavioural – Occasions, Benefits, User status, Usage rate, Loyalty status, Readiness stage, Attitude toward product
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Targetting
• Which product to which market1.Post Segmentation – Single segment, Selective
specialization, Product Specialization, Marketing specialization, Market Coverage
2.Mass Marketing3.Differentiated Marketing4.Niche Marketing
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Differentiation
• How to compete • Add meaningful & valuable differences to
distinguish company’s offering from competitors
• Tangible – Performance, Quality, Rate, Range, Service, Technology, Utility, Value, Convenience, Form/features
• Intangible – Status, House value, Brand perception, Service, People, Image
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Branding
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Brand• A promise • Strategic Asset• Value Proposition
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Positioning
• Creating distinct and valued, physical and perceptual differences between one’s product and its competitors as perceived by the target customer
• Create a space, identity in the minds of the buyer
• Managing perception resulting in understanding brand identity and creating an image
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Types of Positioning• Attribute & Benefit, Use, User, Category,
Quality, Value, Price
“Dare to wear Black” “Bada Bisleri, same price”
“Surf Excel hena!”“Beginning of good things”
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Positioning Strategies • Single – Camry – Touch Perfection• Double – Tavera – Confortable Family Car• Triple – Liquidity, safety, returns – MF’s• Multiple – Kellogg's - Nutritious for kids,
Healthy for women, Quick and healthy breakfast, Nostalgic association
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Guidelines for Effective Positioning• Target Audience & Product knowledge
(differentiation, mass, technology etc)• Competitors • Clear or unambiguous• Addresses needs, wants or benefits (value) • Credible & believable
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Effective Positioning Statement “to (target group & need) our (brand) is
(concept) that (point of difference)”
“For upscale American families, Volvo is the family automobile that offers maximum safety.”
"No.2, We Try Harder"
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The End