marketing

1. Group 1: Nabankur Ray/Aakansksha Bhatia/
Abhishek Nag/Saurabh Kumar/Priyanka Barre/
Gautham Balaji/Habib Rahman
Indian Institute of Management Raipur

2. 
 Meeting needs ‘profitably’
 STEPS INVOLVED
 Choosing target market
 Getting customers
 Keeping them
 Growing them through ‘delivering superior
customer value’
Indian Institute of Management Raipur
What is marketing?

3. 
 A pool of existing and prospective buyers
 Market Place: A physical place
 Ex. Barle-G All-in-one store outside IIM Raipur
 Market Space: A digital domain
 Ex. Flipkart, Amazon, Ebay
 Meta Market: A pool of complimentary products and
services which are interrelated but from different
industries.
 Ex. Auto industry + services + insurance + Auto sites
What is a market?
Indian Institute of Management Raipur

4. 
 Mass consumer goods like Shoes, Stationary,
Clothes, Fashion Products etc.
 Promotion/advertising plays a huge role
 High competition
 Ex. (Nike, Adidas, Reebok) (Levis, Wrangler, Lee)
(Lakme, Lo’real) (HUL, PNG)
Consumer Market
Indian Institute of Management Raipur

5. 
 Selling goods/services to professional buyers skilled
at evaluating competitive offerings
 Company reputation more important than
advertising
 Ex. Maruti Suzuki buying steel for manufacturing
chassis of cars from TATA Steel
Business Market
Indian Institute of Management Raipur

6. 
 Which country to enter?
 How to enter? ( exporter, joint venture, solo etc. )
 How to adapt product to different countries?
 How to price the products?
 How to design communication for different cultures?
 Ex. Amazon.com in India
Global Market
Indian Institute of Management Raipur

7. 
 Limited purchasing power
 Lower selling price affects quality and features
 Lowest bids are preferred mostly
 Ex. Universities, NGOs
Non-profit/Govt. Market
Indian Institute of Management Raipur

8. 
 INDUSTRY
 Gives-Goods/Services
 Takes-Money
 MARKET
 Takes-Communication in terms of surveys
 Gives-Feedback for market research
Industry-Market Relationship
Indian Institute of Management Raipur

9. 
 Goods – soap, shampoo
 Services – banking, restaurants
 Events – world cup, company anniversaries
 Experiences – amusement parks, Theme Based
restaurants
 Persons – SRK, KRK, Amir Khan, CEO’s, Artists
 Places – tourism
 Ideas – smoking kills
What is marketed?
Indian Institute of Management Raipur

10. 
 Needs: basic human requirements: Ex. Water
 Wants: a need directed towards a specific object Ex.
Packaged Mineral Water
 Demands: a want backed by the ability to pay. Ex.
Lamborghini won’t manufacture for people who
want to buy their car but don’t have the ability to
pay for it.
Needs Wants Demands
Indian Institute of Management Raipur

11. 
 Negative-Dislike product/ pay to avoid it
 Non-existent -Unaware/ Uninterested in the product
 Latent-Strong need that can’t be fulfilled
 Declining-Buyers tend to buy less frequently
 Irregular-Varies periodically/seasonally
 Full-All product in market is adequately bought
 Overfull-More consumers than supply
 Unwholesome-Consumers attracted to undesirable
products
Indian Institute of Management Raipur
Types of demands

12. 
 Segmenting: dividing the sample space based on
demographics and economic status
 Targeting: choosing one segment for the product
offered
 Positioning: Spreading awareness about the product
in the targeted segment
Segmenting. Targeting. Positioning.
Indian Institute of Management Raipur

13. 
 The Production Concept: produce more and cheap
 The Product Concept: produce less but quality
 The Selling Concept: products won’t buy if they are not
sold, pushing the product to the market
 The Marketing Concept: take feedback from the market
and customize the products based on customer needs
Marketing Concepts
Indian Institute of Management Raipur

14. 
 Product : the features associated with a product
 Price : pricing based on the target segment
 Place : where to position the product
 Promotion : how and where to advertise
Marketing Mix
Indian Institute of Management Raipur