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MARKETING
SELL
IDEA
PRODUCT
MEDIA
MARKETMIX
STRATEGY
PLANNING
ANALYSIS
GOALS
OBJECTIVES
TARGET
VALUE
NETWORK
SALES
PROCESS
BUSINESS
PROMOTION
GROWTH
BRANDING
PLACE
PRICE
Presented By :
ADITI WALIA
PERSONAL SELLING
ADVERTISING
PUBLICITY
DECISION
IMPLEMENTATION
CONTROL
SITUATION
ENVIRONMENT
COST
COMMUNICATION
SOLUTION
CONVENIENCE
DISTRIBUTION
PURCHASING POWER
TECHNIQUES
SEGMENTATION
POSITIONING
ORGANIZATION
CONTENTS
▪ Introduction
▪ Marketing Decision
▪ Delivering Value To Consumer
▪ Marketing Process
▪ Marketing Analysis
▪ Marketing Utilities
▪ Marketing Management Concepts
▪ Traditional V/S Modern Marketing
▪ Marketing Planning
▪ Marketing Mix
▪ Different Marketing Strategy Techniques
▪ Conclusion
“ Marketing” can defined as an activity that creates &
sustains exchange relationships among those who are
willing & able to buy
and sell products,
services, satisfaction &
even ideas. In the
present day for business,
it is considered to be the
activities related to identifying
the needs of the consumers & taking such actions to
satisfy them, in return of some consideration.
In marketing, it is more important
to do what is strategically right rather than what is
immediately profitable.
MARKET
RESEARC
H
COMPETITOR
INTELLIGENC
E
MARKET
ANALYSIS
PRODUCT
INTELLIGEN
CE
MARKET
INTELLIGENC
E
KEY PRODUCT
CONCERNS
ACQUISITIONS
TECHNOLOGY
TRENDS
CUSTOMER
PREFERENCES
INVESTMENTS
CUSTOMER
FEEDBACK
INVESTMENTS
MARKET
FEATURES
MARKET SIZE
STRATEGY
BRAND
LOYALTY
LOYALTY
The term “ marketing ” constitute different processes,
functions, exchanges & activities that create perceived
value by satisfying needs
of the individuals .
Marketing induces or
helps in moving people
closer in making decision
to purchase & facilitate a
sale.
Marketing in recent decades, has gain a
lot of importance. It is an immediate cause & effect of
rapid economic growth, globalization, technological
upgradation, development of ever-increasing human
needs, wants & increasing purchasing power.
MARKETING DECISION
A
business organization faces
countless marketing variables
that affect the success & failure
of strategy implementation.
Some examples of marketing
decisions that may require
special attention are as follows :
▪ The kind of distribution network to be used. Whether
to use exclusive dealership or multiple channels of
distribution.
▪ Whether to limit or enhance the share of business
done with a single or a few customers ?
▪ Whether to be a price leader or a price follower ?
▪ Whether to offer a complete or limited warranty ?
▪ Whether to reward salespeople based on straight
salary, straight commission or on a combination of
salary/commission ?
▪ The amount & extent of
advertising. Whether to use heavy
or light advertising. What should be
the amount of advertising in print
media, television or internet ?
DELIVERING VALUE TO
CONSUMER
Marketing needs to work in co-ordination with other
departments to produce superior value to the consumer.
It acts as a part of the organizational chain of activities.
Marketers are challenged to find ways to get all the
other departments to think with focus on consumer. In
its search for competitive advantage, the firm needs to
look beyond its own chain of activities & into the chains
of its suppliers, distributors and ultimately consumers.
This “partnering” will produce a value delivery network.
COMPANY’S CHAIN OF
ACTIVITIES
COMPANY’S CHAIN OF
ACTIVITIESCONSUMERS
SUPPLIERS
VALUE
DELIVERY
NETWORK
To succeed in today’s competitive
market place, companies must be
customer centered. They must win
customers from competitors and
retain them by delivering greater
value. Since companies cannot
satisfy all consumers in a given
market, they must divide up the
total market ( MARKET
SEGMENTATION ), choose the best
segments ( MARKET TARGETING ) &
design strategies for profitably
choosing targeted segments better
than the competition ( MARKET
POSITIONING ).
MARKETING PROCESS
Once the strategic plan has
defined the company’s
overall mission & objectives,
marketing plays a crucial role
in carrying out these objectives.
The marketing process is the
process of analyzing market
opportunities, selecting the target markets, developing
the marketing mix and managing the marketing effort.
Target customers stand at the center of the marketing
process.
AWARENESS
INTEREST
LIKE
TRUST
TRIAL
SALE
REPEAT SALE
REFERRALS
MARKETING
PROCESS
MARKETING ANALYSIS
Marketing analysis involves a
complete analysis of the
company’s situation. A
company performs analysis
by identifying environmental
opportunities & threats. It
also analyses its strengths &
weaknesses to determine
which opportunity the
company can best pursue.
Marketing Analysis has
three components as
planning,
implementation &
control. Through
analysis organization
feed information &
other inputs to each of
the other marketing
management
functions.
TARGET MARKET ANALYSIS
PRIMARY
RESEARCH
SECONDARY
RESEARCH
DEMOGRAPHIC
ANALYSIS
PSYCHO-GRAPHICAL
ANALYSIS
BEHAVIOUR
ANALYSIS
ANALYZING
COMPETITORS
POSITIONING/SALES
ANALYZING
CONSUMER REPORTS
ONLINE
MARKETING UTILITIES
There are four
marketing utilities,
which are the
capabilities of the
product offering to
satisfy the needs
of a customer are
enhanced when
exchange occurs.
These include the
following :
▪ FORM UTILITY : The product is produced or modified for
the customer. An example of this might be a car
manufacturer designing their car so that a driver will be
able to plug in his I-pod or other devices.
▪ TIME UTILITY : The consumers ability to buy the product
when he or she wants to have the product. A grocer may
store certain amounts of certain foods until the prime
season they are bought. It is ensuring that the customers
will have access to the food when they desire it the most.
▪ PLACE UTILITY : This describes when a consumer is able
to buy the product at a location that is convenient to him
or her. The best example of this is online sales since
home is the most convenient location for a consumer.
▪ POSSESSION UTILITY : Ownership of the product is
transferred from the marketer to the buyer. An example
is getting a loan & then buying a car. This utility is
concerned with the ease of transferability for the
consumer.
THE CONCEPT OF
MARKETING MANAGEMENT
There are FOUR marketing management concepts that
companies will utilise
in their marketing
objectives. All of
these aim to achieve
profits and objectives,
but the focus & means
by which they do so
will differ. They will
typically follow one of
the four major concepts as follows.
PRODUCT
CONCEPT
SELLING
CONCEPT
MARKETIN
G CONCEPT
SOCIETAL
CONCEPT
CONCEP
T
FOCUS MEANS ENDS
PRODUCT Product
Quality product,
reasonable price,
little marketing
effort
Achieve profits or
objectives by products
generating consumer
demands
SELLING Product
Aggressive
advertising &
selling efforts
Achieve profits or
objectives by
generating sales
volume
MARKETING Customer
Needs
Integrated
marketing
Achieve profits or
objectives through
customer satisfaction
SOCIETAL
Customer
Satisfaction
& Long Run
Public
Constant search
for better products
in terms of appeal
& benefit
Satisfy organizational
goals & responsibilities
for society
TRADITIONAL APPROACH
VS MODERN APPROACH
To understand the
fundamentals of
marketing, it is important
to understand two
different approaches
used when a company
choose to introduce a
new product. These two
approaches are
“Traditional Marketing”
and “Integrated
Marketing”.
There are
typically 5
different
departments
directly
involved
with the
product
during
creation and
launch. They
are :
If a company opts to use “traditional approach”, all of
the departments i.e. Development, Engineering,
Production, Marketing & Distribution work as separate
entities. For example, Development will draw up a
product and then pass it along to Engineering to create
it. Engineering will then pass it along to Production to
produce it. After that it will be moved to Marketing
who will eventually move the product to Distribution
for a product launch.
TRADITIONAL
APPROACH
If a company opts for “Integrated Marketing”, all of the
departments work together as a single unit.
Engineering will not begin a product without ensuring
that Production has the capability to produce it.
Development will check with Marketing to make sure
that the product is in line with the company’s image
and approach. Basically, in this approach every
department will at some point integrate their work
with all the other departments in the process.
INTEGRATED APPROACH
WHICH IS BETTER ?
Clearly, “Integrated Marketing” is the better approach.
While following this approach, it may take a little longer
to launch a product but the likelihood of success is also
greater.
The “Traditional Methodology” not only leaves much
room for interdepartmental conflicting interest but also
often ignores the needs of the consumers & is therefore
regarded as an outdated approach in the field of
marketing.
DIFFERENCE
BETWEEN
TRADITIONAL
&
DIGITAL
MARKETING
TRADITIONAL
MARKETING
DIGITAL MARKETING
Marketing needs to interrupt the
customers to get attention.
Customers control their attention and
marketers engage when and what
consumers want.
Marketing pushes a consistent message
to the marketplace.
Marketers join the conversation by
enabling communities of customers,
prospects, partners and other influencers.
Limited set of marketing channels. Rapid proliferation of (and
experimentation with) new measures and
targetable channels.
Marketing is mostly “right-brained”
(creative).
Marketing is mostly left-brained
(calculative).
Marketers are not held fully accountable
and as a result are not considered
strategic at many organizations.
Marketers can demonstrate bottom-line
impact, justify their budget and plan the
marketing mix with quantitative rigour.
MARKETING PLANNING
Marketing Planning involves
deciding on marketing strategies
that will help the company attain its
overall strategic objectives. A
detailed plan is needed for each
business, product or brand.
A product or brand plan may contain different sections :
 Executive Summary
 Current Marketing Situations
 Threats & Opportunities Analysis Objectives & Issues
 Marketing Strategies
 Action Programs
 Budgets & Controls
MARKETING
PLANNING
EXECUTIVE
SUMMARY
CURRENT
MARKET
SITUATION
THREAT &
OPPORTUNITY
ANALYSIS
MARKET
STRATEGIES
ACTION
PROGRAMS
BUDGET &
CONTROLS
❖ The “Executive Summary” is a short summary of the
goals & recommendations to be presented in the plan.
❖ The “Current Marketing Situation” is a section of a
marketing plan that describes the target market & the
company’s position in it. Important sections include :
A market description
A product review
Analysis of the competition
A section on distribution
COMPONENTS OF
MARKETING PLANNING
❖ In the “Opportunities &
Threats” section, managers are
forced to anticipate important
developments that can have an
impact, either positive or
negative, on the firm.
❖ Having studied the product’s
threats & opportunities, the
manager can set objectives &
consider issues that will affect
them. The objectives should be
stated as goals that the company
would like to attain during the
plan’s term.
❖ Marketing strategy is the marketing logic by which the
business unit hopes to achieve its marketing objectives.
Strategies should be created for all marketing mix
components.
❖The Marketing Budget is a section of the marketing plan
that shows projected revenues, costs and profits.
❖ The last section of the marketing plan outlines the
controls that will be used to monitor progress. This allows
for progress checks & corrective actions.
DEALING WITH THE
MARKETING ENVIRONMENT
A company must
carefully analyse its
environment in order to
avoid the threats and
take advantage of the
opportunities. Areas to
be analysed in the
environment normally
include the following :
MICRO
ENVIRONMENT
CONSUMER
COMPETITION
ORGANIZATION
MARKET
SUPPLIER
MARKET
INTERMEDIARY
Forces close to the company such as its
ability to serve customers, other company
departments, other channel members that
comprise the organization, suppliers,
competitors, market intermediaries as well
as market.
MACRO
ENVIRONMENT
DEMOGRAPHIC
ENVIRONMENT
ECONOMIC
ENVIRONMENT
POLITICAL
ENVIRONMENT
SOCIO-CULTURAL
ENVIRONENT
TECHNOLOGICAL
ENVIRONMENT
GLOBAL
ENVIRONMENT
Broader forces such as
demographic factors, economic
forces, political and Legal forces,
Technological and Ecological
forces, as well as social and
cultural factors.
MARKETING MIX
Marketing Mix forms an
important part of overall
competitive marketing strategy.
The marketing mix is the set of
controllable marketing variables
that the firm blends to produce
the response it wants in the
target market. The marketing
mix comprises of everything that
the firm ca do to influence the
demand for its product. These
variables are often referred to as
“4Ps”.
The 4Ps stand for Product, Price,
Place & Promotion. An effective
marketing program blends all of
the marketing mix elements into
a coordinated program designed
to achieve the company’s
marketing objectives by
delivering value to the customer.
The 4Ps
are from the “Marketer’s Angle”.
When translated to the
perspective of “Buyers”, they
may be termed as 4Cs.
COMMUNICATION
CONVENIENCE
CUSTOMER COSTPRICE
PLACE
PROMOTION
CUSTOMER SOLUTIONPRODUCT
MARKETER’s
ANGLE
BUYER’s
ANGLE
EXPANDED MARKETING MIX
Typically, all organisations use a
combination of 4 Ps in some form
or the other. However, the above
elements of marketing mix are not
exhaustive. It is pertinent to discuss
a few more elements that may form
part of an organizational marketing
mix strategy. They have got more
currency in recent years. Growth of
services has its own share for the
inclusion of new elements in
market.
People
Physical
Evidenc
e
Process
EXPANDED
MARKET MIX
INCLUDE :
MARKET
MIX
PRODUCT
PRICE
PLACE
PROMOTIONPEOPLE
PHYSICAL
EVIDENCE
PROCESS
PRODUCT
Product stands for the “goods & services” combination
the company offers to the target market.
Strategies are needed for
managing the existing products
over time adding new ones &
dropping failed products.
Strategic decisions are to be
made regarding branding,
packaging & other product features such as warrantees.
Products can be differentiated on the basis of size,
shape, color, packaging, brand names, after sales services
and so on.
Organizations formalize
product differentiation through christening “brand
names” to their respective products. Brands enable the
customers to identify the product & the organization
behind it. The product’s even the firm’s image is built
around brand through advertising & other promotional
strategies. Customers tend to develop strong brand
loyalty for a particular product over a period of time.
Organizations seek to hammer into the
customer’s mind that their products are different from
others, it does not matter whether the difference is real
or imaginary.
PRICE
Price stands for the amount of
money consumers have to pay to
obtain the product. Necessary
strategies pertain to the location
of the consumer, price flexibility,
related items within a product line
& terms of sale. The price of a
product is its composite
expression of its utility & value to
the consumer, its demand, quality,
reliability, safety, the competition
its faces, the desired profit and so
on.
In an industry, there would be organizations with low
cost products and other organizations with high cost. the
low cost organization may adopt aggressive pricing
strategy as they enjoy more freedom of action in respect
of their prices.
However, in the competitive
environment such an approach may not be feasible.
More and more companies of today have to accept the
market price with minor deviations & work towards their
costs. They reduce their cost in order to maintain their
profitability.
PRICE SKIMMIMG &
PENETRATION
PRICING
In penetration, firm keeps a tempting low price for a
new product which itself is the selling point. A very
large number of potential consumer may be able to
afford and willing to try the product.
In skimming, prices are set at a very high level. The
product is directed to those buyers who are relatively
insensitive to prices but sensitive to the novelty of the
new product.
For a new product, an organization may either
choose to “skim” or “penetrate” the market.
PLACE
PLACE stands for the company activities that make the
product available to the target consumers.
One of the most basic marketing
decision is choosing the most
appropriate marketing channel.
Strategies should be taken for
the management of channel(s) by which ownership of
product is transferred from producer to consumer and in
many cases, the system(s) by which goods are moved
from where they are produced from where they are
purchased by the final consumer.
Strategies applicable to the middlemen
such as wholesalers & retailers must be designed &
implemented.
The distribution system of a
policy are important determinants of the functions of
marketing. The decision to utilise a particular marketing
channel or channels sets the pattern of operations of
sales force.
PROMOTION
Promotion stands for those
activities that communicate the
merits of the product & persuade
the target consumers to buy it.
Strategies are needed to combine
individual methods such as
advertising, personal selling and
sales promotion into a coordinated
campaign. In addition, promotional
strategies must be adjusted as a
product move from an earlier stage
from a later stage of its life.
Modern Marketing is highly ‘promotion oriented’.
Organizations strive to push their sales & market standing
on a sustained basis & in a profitable manner under
conditions of complex direct & indirect competitive
situations.
Promotion also acts as an impetus
to marketing. It is simultaneously a communication,
persuasion and conditioning process. There are atleast
four major promotional methods or tools as follows :
PROMOTION
PERSONAL
SELLING
ADVERTISING
PUBLICITY
SALES
PROMOTION
PERSONAL SELLING
▪ It is one of the oldest form of marketing, involving face
to face interaction of sales force with the prospective
buyers & provides a high degree of personal attention to
them.
▪ It may initially focus on developing relationships with
the consumer but end up with efforts to make a sale.
▪ Personal Selling suffers from very high cost as sales
personnel are expensive. Also they can attend one
physical customer at a time. This method is used in every
industry for all kind of products.
ADVERTISING
▪ It is a non personal, highly flexible and dynamic
promotional method. Advertising may be directed
towards consumers, middlemen or opinion leaders.
▪ There are several media for advertising such as
Pamphlets, Brochures, Newspapers, Hoardings,
Magazines, Radio, TV, Display Boards, & so on.
▪ Advertising is likely to succeed in promoting the sales
of an organization but its effectiveness with respect to
the expenditure cannot be directly measured.
PUBLICITY
▪ Publicity is a communication of a Product, Brand or
Business by placing information about it in the media
without paying for the time or media space directly.
▪ It is also a non-personal form of promotion similar to
advertising but here no payments are made to any kind of
media. Thus, it is a way of reaching consumers with
negligible cost.
▪ Basic tools for publicity are press releases, press
conferences, stories, reports and internet releases. These
releases must be of interest to the public.
SALES PROMOTION
▪ Sales Promotion is an omnibus term that includes all
activities that are undertaken to promote the business
but are not included specifically under the previous
three.
▪ Activities like discount, money refunds, contests,
installments, kiosks, exhibition & fair constitute sales
promotion.
▪ They are meant to boost sales and are done periodically
to help in attaining a larger market share to the
organization.
PEOPLE
It comprises all human
actors who play a part in
the delivery of the
market offering and thus,
influence the buyer’s
perception , namely the
firm’s personnel and
customers.
PHYSICAL EVIDENCE
It is the environment in which
the market offering is
delivered and where the firm
and firm interact. Physical
evidence can also be referred
to as the proof that the
consumer has been offered
and delivered the product or
service for which he has paid
the price.
PROCESS
The actual procedures,
mechanisms and flow of
activities by which the
product/service is delivered
to the customer. This is the
last step that leads to the
goal seeking of the
organization that is to satisfy
the customer.
MARKETING STRATEGY
TECHNIQUES
In order for businesses to win market
share & stay relevant they need
to consider many types of marketing
strategies. Each marketing strategy
can communicate to the target
market the benefits and features of its product. For
example, “Apple” has invested in creating commercials for
televisions, billboards & magazines that showcase their
products in such a way that their customers feel an affinity
towards apple products.
SERVICE MARKETING : It is
applying the concepts, tools
and techniques of marketing
to services. Service is any
benefit or activity that one party can offer to another
which is essentially intangible and does not result in
banking, savings, relating, education or utilities.
DIRECT MARKETING : Marketing
through various advertising media that
interact directly with consumers,
generally calling for the consumers to
make a direct response. Direct
marketing includes catalogue selling,
mail, telecomputing, electronic
marketing, TV shopping, etc.
SOCIAL MARKETING : It refers to the
design, implementation & control of
programs seeking to increase the
acceptability of a social idea, cause
or practice among a target group.
AUGMENTED MARKETING : It is the provision of additional
customer services built around
the care of products that
relate to introduction of
high-tech services such
as movies on demand, on-line computer repair services,
secretarial services, etc. Such innovative offerings
provides set of benefits that promise to elevate customer
service to unprecedented levels.
RELATIONSHIP MARKETING : The process
of creating, maintaining and enhancing
strong value-laden relationships with
customers and other stakeholders. For eg.
Airlines offer special lounges at major
airports for frequent flyers, providing
benefits to selected customers to
strengthen bonds which will go a long way
building relationships.
CONCENTRATED MARKETING : It
Is a market-coverage strategy
in which a firm goes after
a large share of one or
few sub-markets.
PERSON MARKETING : People are also
marketed. Person marketing consists of
activities undertaken to create,
maintain or change attitudes or
behaviour towards particular people.
For eg. Politicians, sports or movie stars,
market themselves to get votes or to
promote their careers or incomes.
PLACE MARKETING : Place
Marketing includes activities
undertaken to create, maintain and
change attitudes or behaviours
towards particular places such as
business sites, tourism sites.
ENLIGHTENED MARKETING : A marketing
philosophy holding that a company’s
marketing should support the best long-
run performance of the marketing
system. Its five principles include –
customer oriented marketing, innovative
marketing, value marketing, sense of
mission marketing & societal marketing.
DIFFERENTIAL MARKETING : It
is a market-coverage strategy
where a firm decides to target
several market
segments & makes
separate product offers to each. Like Hindustan Unilever
Ltd. has Lifebuoy, Lux & Rexona in popular whereas Dove
& Pears in premium segment.
DEMARKETING : It
comprises of marketing strategies to reduce
demand temporarily or permanently – the
aim is not to destroy demand but only to
reduce or shift it. This happens when there
is overfull demand. For eg. Zoological parks
are overcrowded on weekends & holidays.
Here, demarketing is used to regulate
demand.
SYNCHRO MARKETING : When
the demand for a product is
irregular due to season, causing
Idle or overworked capacity,
synchro-marketing can be used
to find ways to alter the same pattern of demand through
flexible pricing, promotion & other incentives.
CONCLUSION
Ordinarily, Marketing is an activity performed by business
organizations. However, it is not necessarily confined only
to business enterprises.
“ Marketing is a social and managerial process by which
individuals and groups obtain what they need and want
through creating, offering and exchanging products of
value with customers”.
- Philip Kotler.

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ALL ABOUT MARKETING by Aditi Walia

  • 1. MARKETING SELL IDEA PRODUCT MEDIA MARKETMIX STRATEGY PLANNING ANALYSIS GOALS OBJECTIVES TARGET VALUE NETWORK SALES PROCESS BUSINESS PROMOTION GROWTH BRANDING PLACE PRICE Presented By : ADITI WALIA PERSONAL SELLING ADVERTISING PUBLICITY DECISION IMPLEMENTATION CONTROL SITUATION ENVIRONMENT COST COMMUNICATION SOLUTION CONVENIENCE DISTRIBUTION PURCHASING POWER TECHNIQUES SEGMENTATION POSITIONING ORGANIZATION
  • 2. CONTENTS ▪ Introduction ▪ Marketing Decision ▪ Delivering Value To Consumer ▪ Marketing Process ▪ Marketing Analysis ▪ Marketing Utilities ▪ Marketing Management Concepts ▪ Traditional V/S Modern Marketing ▪ Marketing Planning ▪ Marketing Mix ▪ Different Marketing Strategy Techniques ▪ Conclusion
  • 3. “ Marketing” can defined as an activity that creates & sustains exchange relationships among those who are willing & able to buy and sell products, services, satisfaction & even ideas. In the present day for business, it is considered to be the activities related to identifying the needs of the consumers & taking such actions to satisfy them, in return of some consideration. In marketing, it is more important to do what is strategically right rather than what is immediately profitable.
  • 5. The term “ marketing ” constitute different processes, functions, exchanges & activities that create perceived value by satisfying needs of the individuals . Marketing induces or helps in moving people closer in making decision to purchase & facilitate a sale. Marketing in recent decades, has gain a lot of importance. It is an immediate cause & effect of rapid economic growth, globalization, technological upgradation, development of ever-increasing human needs, wants & increasing purchasing power.
  • 6. MARKETING DECISION A business organization faces countless marketing variables that affect the success & failure of strategy implementation. Some examples of marketing decisions that may require special attention are as follows : ▪ The kind of distribution network to be used. Whether to use exclusive dealership or multiple channels of distribution.
  • 7. ▪ Whether to limit or enhance the share of business done with a single or a few customers ? ▪ Whether to be a price leader or a price follower ? ▪ Whether to offer a complete or limited warranty ? ▪ Whether to reward salespeople based on straight salary, straight commission or on a combination of salary/commission ? ▪ The amount & extent of advertising. Whether to use heavy or light advertising. What should be the amount of advertising in print media, television or internet ?
  • 8. DELIVERING VALUE TO CONSUMER Marketing needs to work in co-ordination with other departments to produce superior value to the consumer. It acts as a part of the organizational chain of activities. Marketers are challenged to find ways to get all the other departments to think with focus on consumer. In its search for competitive advantage, the firm needs to look beyond its own chain of activities & into the chains of its suppliers, distributors and ultimately consumers. This “partnering” will produce a value delivery network.
  • 9. COMPANY’S CHAIN OF ACTIVITIES COMPANY’S CHAIN OF ACTIVITIESCONSUMERS SUPPLIERS VALUE DELIVERY NETWORK
  • 10. To succeed in today’s competitive market place, companies must be customer centered. They must win customers from competitors and retain them by delivering greater value. Since companies cannot satisfy all consumers in a given market, they must divide up the total market ( MARKET SEGMENTATION ), choose the best segments ( MARKET TARGETING ) & design strategies for profitably choosing targeted segments better than the competition ( MARKET POSITIONING ).
  • 11. MARKETING PROCESS Once the strategic plan has defined the company’s overall mission & objectives, marketing plays a crucial role in carrying out these objectives. The marketing process is the process of analyzing market opportunities, selecting the target markets, developing the marketing mix and managing the marketing effort. Target customers stand at the center of the marketing process.
  • 13. MARKETING ANALYSIS Marketing analysis involves a complete analysis of the company’s situation. A company performs analysis by identifying environmental opportunities & threats. It also analyses its strengths & weaknesses to determine which opportunity the company can best pursue.
  • 14. Marketing Analysis has three components as planning, implementation & control. Through analysis organization feed information & other inputs to each of the other marketing management functions.
  • 16. MARKETING UTILITIES There are four marketing utilities, which are the capabilities of the product offering to satisfy the needs of a customer are enhanced when exchange occurs. These include the following :
  • 17. ▪ FORM UTILITY : The product is produced or modified for the customer. An example of this might be a car manufacturer designing their car so that a driver will be able to plug in his I-pod or other devices. ▪ TIME UTILITY : The consumers ability to buy the product when he or she wants to have the product. A grocer may store certain amounts of certain foods until the prime season they are bought. It is ensuring that the customers will have access to the food when they desire it the most.
  • 18. ▪ PLACE UTILITY : This describes when a consumer is able to buy the product at a location that is convenient to him or her. The best example of this is online sales since home is the most convenient location for a consumer. ▪ POSSESSION UTILITY : Ownership of the product is transferred from the marketer to the buyer. An example is getting a loan & then buying a car. This utility is concerned with the ease of transferability for the consumer.
  • 19. THE CONCEPT OF MARKETING MANAGEMENT There are FOUR marketing management concepts that companies will utilise in their marketing objectives. All of these aim to achieve profits and objectives, but the focus & means by which they do so will differ. They will typically follow one of the four major concepts as follows.
  • 21. CONCEP T FOCUS MEANS ENDS PRODUCT Product Quality product, reasonable price, little marketing effort Achieve profits or objectives by products generating consumer demands SELLING Product Aggressive advertising & selling efforts Achieve profits or objectives by generating sales volume MARKETING Customer Needs Integrated marketing Achieve profits or objectives through customer satisfaction SOCIETAL Customer Satisfaction & Long Run Public Constant search for better products in terms of appeal & benefit Satisfy organizational goals & responsibilities for society
  • 22. TRADITIONAL APPROACH VS MODERN APPROACH To understand the fundamentals of marketing, it is important to understand two different approaches used when a company choose to introduce a new product. These two approaches are “Traditional Marketing” and “Integrated Marketing”.
  • 23. There are typically 5 different departments directly involved with the product during creation and launch. They are :
  • 24. If a company opts to use “traditional approach”, all of the departments i.e. Development, Engineering, Production, Marketing & Distribution work as separate entities. For example, Development will draw up a product and then pass it along to Engineering to create it. Engineering will then pass it along to Production to produce it. After that it will be moved to Marketing who will eventually move the product to Distribution for a product launch. TRADITIONAL APPROACH
  • 25. If a company opts for “Integrated Marketing”, all of the departments work together as a single unit. Engineering will not begin a product without ensuring that Production has the capability to produce it. Development will check with Marketing to make sure that the product is in line with the company’s image and approach. Basically, in this approach every department will at some point integrate their work with all the other departments in the process. INTEGRATED APPROACH
  • 26. WHICH IS BETTER ? Clearly, “Integrated Marketing” is the better approach. While following this approach, it may take a little longer to launch a product but the likelihood of success is also greater. The “Traditional Methodology” not only leaves much room for interdepartmental conflicting interest but also often ignores the needs of the consumers & is therefore regarded as an outdated approach in the field of marketing.
  • 28. TRADITIONAL MARKETING DIGITAL MARKETING Marketing needs to interrupt the customers to get attention. Customers control their attention and marketers engage when and what consumers want. Marketing pushes a consistent message to the marketplace. Marketers join the conversation by enabling communities of customers, prospects, partners and other influencers. Limited set of marketing channels. Rapid proliferation of (and experimentation with) new measures and targetable channels. Marketing is mostly “right-brained” (creative). Marketing is mostly left-brained (calculative). Marketers are not held fully accountable and as a result are not considered strategic at many organizations. Marketers can demonstrate bottom-line impact, justify their budget and plan the marketing mix with quantitative rigour.
  • 29. MARKETING PLANNING Marketing Planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. A detailed plan is needed for each business, product or brand. A product or brand plan may contain different sections :  Executive Summary  Current Marketing Situations  Threats & Opportunities Analysis Objectives & Issues  Marketing Strategies  Action Programs  Budgets & Controls
  • 31. ❖ The “Executive Summary” is a short summary of the goals & recommendations to be presented in the plan. ❖ The “Current Marketing Situation” is a section of a marketing plan that describes the target market & the company’s position in it. Important sections include : A market description A product review Analysis of the competition A section on distribution COMPONENTS OF MARKETING PLANNING
  • 32. ❖ In the “Opportunities & Threats” section, managers are forced to anticipate important developments that can have an impact, either positive or negative, on the firm. ❖ Having studied the product’s threats & opportunities, the manager can set objectives & consider issues that will affect them. The objectives should be stated as goals that the company would like to attain during the plan’s term.
  • 33. ❖ Marketing strategy is the marketing logic by which the business unit hopes to achieve its marketing objectives. Strategies should be created for all marketing mix components. ❖The Marketing Budget is a section of the marketing plan that shows projected revenues, costs and profits. ❖ The last section of the marketing plan outlines the controls that will be used to monitor progress. This allows for progress checks & corrective actions.
  • 34. DEALING WITH THE MARKETING ENVIRONMENT A company must carefully analyse its environment in order to avoid the threats and take advantage of the opportunities. Areas to be analysed in the environment normally include the following :
  • 36. Forces close to the company such as its ability to serve customers, other company departments, other channel members that comprise the organization, suppliers, competitors, market intermediaries as well as market.
  • 38. Broader forces such as demographic factors, economic forces, political and Legal forces, Technological and Ecological forces, as well as social and cultural factors.
  • 39. MARKETING MIX Marketing Mix forms an important part of overall competitive marketing strategy. The marketing mix is the set of controllable marketing variables that the firm blends to produce the response it wants in the target market. The marketing mix comprises of everything that the firm ca do to influence the demand for its product. These variables are often referred to as “4Ps”.
  • 40. The 4Ps stand for Product, Price, Place & Promotion. An effective marketing program blends all of the marketing mix elements into a coordinated program designed to achieve the company’s marketing objectives by delivering value to the customer. The 4Ps are from the “Marketer’s Angle”. When translated to the perspective of “Buyers”, they may be termed as 4Cs.
  • 42. EXPANDED MARKETING MIX Typically, all organisations use a combination of 4 Ps in some form or the other. However, the above elements of marketing mix are not exhaustive. It is pertinent to discuss a few more elements that may form part of an organizational marketing mix strategy. They have got more currency in recent years. Growth of services has its own share for the inclusion of new elements in market.
  • 45. PRODUCT Product stands for the “goods & services” combination the company offers to the target market. Strategies are needed for managing the existing products over time adding new ones & dropping failed products. Strategic decisions are to be made regarding branding, packaging & other product features such as warrantees. Products can be differentiated on the basis of size, shape, color, packaging, brand names, after sales services and so on.
  • 46. Organizations formalize product differentiation through christening “brand names” to their respective products. Brands enable the customers to identify the product & the organization behind it. The product’s even the firm’s image is built around brand through advertising & other promotional strategies. Customers tend to develop strong brand loyalty for a particular product over a period of time. Organizations seek to hammer into the customer’s mind that their products are different from others, it does not matter whether the difference is real or imaginary.
  • 47. PRICE Price stands for the amount of money consumers have to pay to obtain the product. Necessary strategies pertain to the location of the consumer, price flexibility, related items within a product line & terms of sale. The price of a product is its composite expression of its utility & value to the consumer, its demand, quality, reliability, safety, the competition its faces, the desired profit and so on.
  • 48. In an industry, there would be organizations with low cost products and other organizations with high cost. the low cost organization may adopt aggressive pricing strategy as they enjoy more freedom of action in respect of their prices. However, in the competitive environment such an approach may not be feasible. More and more companies of today have to accept the market price with minor deviations & work towards their costs. They reduce their cost in order to maintain their profitability.
  • 50. In penetration, firm keeps a tempting low price for a new product which itself is the selling point. A very large number of potential consumer may be able to afford and willing to try the product. In skimming, prices are set at a very high level. The product is directed to those buyers who are relatively insensitive to prices but sensitive to the novelty of the new product. For a new product, an organization may either choose to “skim” or “penetrate” the market.
  • 51. PLACE PLACE stands for the company activities that make the product available to the target consumers. One of the most basic marketing decision is choosing the most appropriate marketing channel. Strategies should be taken for the management of channel(s) by which ownership of product is transferred from producer to consumer and in many cases, the system(s) by which goods are moved from where they are produced from where they are purchased by the final consumer.
  • 52. Strategies applicable to the middlemen such as wholesalers & retailers must be designed & implemented. The distribution system of a policy are important determinants of the functions of marketing. The decision to utilise a particular marketing channel or channels sets the pattern of operations of sales force.
  • 53. PROMOTION Promotion stands for those activities that communicate the merits of the product & persuade the target consumers to buy it. Strategies are needed to combine individual methods such as advertising, personal selling and sales promotion into a coordinated campaign. In addition, promotional strategies must be adjusted as a product move from an earlier stage from a later stage of its life.
  • 54. Modern Marketing is highly ‘promotion oriented’. Organizations strive to push their sales & market standing on a sustained basis & in a profitable manner under conditions of complex direct & indirect competitive situations. Promotion also acts as an impetus to marketing. It is simultaneously a communication, persuasion and conditioning process. There are atleast four major promotional methods or tools as follows :
  • 56. PERSONAL SELLING ▪ It is one of the oldest form of marketing, involving face to face interaction of sales force with the prospective buyers & provides a high degree of personal attention to them. ▪ It may initially focus on developing relationships with the consumer but end up with efforts to make a sale. ▪ Personal Selling suffers from very high cost as sales personnel are expensive. Also they can attend one physical customer at a time. This method is used in every industry for all kind of products.
  • 57. ADVERTISING ▪ It is a non personal, highly flexible and dynamic promotional method. Advertising may be directed towards consumers, middlemen or opinion leaders. ▪ There are several media for advertising such as Pamphlets, Brochures, Newspapers, Hoardings, Magazines, Radio, TV, Display Boards, & so on. ▪ Advertising is likely to succeed in promoting the sales of an organization but its effectiveness with respect to the expenditure cannot be directly measured.
  • 58. PUBLICITY ▪ Publicity is a communication of a Product, Brand or Business by placing information about it in the media without paying for the time or media space directly. ▪ It is also a non-personal form of promotion similar to advertising but here no payments are made to any kind of media. Thus, it is a way of reaching consumers with negligible cost. ▪ Basic tools for publicity are press releases, press conferences, stories, reports and internet releases. These releases must be of interest to the public.
  • 59. SALES PROMOTION ▪ Sales Promotion is an omnibus term that includes all activities that are undertaken to promote the business but are not included specifically under the previous three. ▪ Activities like discount, money refunds, contests, installments, kiosks, exhibition & fair constitute sales promotion. ▪ They are meant to boost sales and are done periodically to help in attaining a larger market share to the organization.
  • 60. PEOPLE It comprises all human actors who play a part in the delivery of the market offering and thus, influence the buyer’s perception , namely the firm’s personnel and customers.
  • 61. PHYSICAL EVIDENCE It is the environment in which the market offering is delivered and where the firm and firm interact. Physical evidence can also be referred to as the proof that the consumer has been offered and delivered the product or service for which he has paid the price.
  • 62. PROCESS The actual procedures, mechanisms and flow of activities by which the product/service is delivered to the customer. This is the last step that leads to the goal seeking of the organization that is to satisfy the customer.
  • 63. MARKETING STRATEGY TECHNIQUES In order for businesses to win market share & stay relevant they need to consider many types of marketing strategies. Each marketing strategy can communicate to the target market the benefits and features of its product. For example, “Apple” has invested in creating commercials for televisions, billboards & magazines that showcase their products in such a way that their customers feel an affinity towards apple products.
  • 64. SERVICE MARKETING : It is applying the concepts, tools and techniques of marketing to services. Service is any benefit or activity that one party can offer to another which is essentially intangible and does not result in banking, savings, relating, education or utilities. DIRECT MARKETING : Marketing through various advertising media that interact directly with consumers, generally calling for the consumers to make a direct response. Direct marketing includes catalogue selling, mail, telecomputing, electronic marketing, TV shopping, etc.
  • 65. SOCIAL MARKETING : It refers to the design, implementation & control of programs seeking to increase the acceptability of a social idea, cause or practice among a target group. AUGMENTED MARKETING : It is the provision of additional customer services built around the care of products that relate to introduction of high-tech services such as movies on demand, on-line computer repair services, secretarial services, etc. Such innovative offerings provides set of benefits that promise to elevate customer service to unprecedented levels.
  • 66. RELATIONSHIP MARKETING : The process of creating, maintaining and enhancing strong value-laden relationships with customers and other stakeholders. For eg. Airlines offer special lounges at major airports for frequent flyers, providing benefits to selected customers to strengthen bonds which will go a long way building relationships. CONCENTRATED MARKETING : It Is a market-coverage strategy in which a firm goes after a large share of one or few sub-markets.
  • 67. PERSON MARKETING : People are also marketed. Person marketing consists of activities undertaken to create, maintain or change attitudes or behaviour towards particular people. For eg. Politicians, sports or movie stars, market themselves to get votes or to promote their careers or incomes. PLACE MARKETING : Place Marketing includes activities undertaken to create, maintain and change attitudes or behaviours towards particular places such as business sites, tourism sites.
  • 68. ENLIGHTENED MARKETING : A marketing philosophy holding that a company’s marketing should support the best long- run performance of the marketing system. Its five principles include – customer oriented marketing, innovative marketing, value marketing, sense of mission marketing & societal marketing. DIFFERENTIAL MARKETING : It is a market-coverage strategy where a firm decides to target several market segments & makes separate product offers to each. Like Hindustan Unilever Ltd. has Lifebuoy, Lux & Rexona in popular whereas Dove & Pears in premium segment.
  • 69. DEMARKETING : It comprises of marketing strategies to reduce demand temporarily or permanently – the aim is not to destroy demand but only to reduce or shift it. This happens when there is overfull demand. For eg. Zoological parks are overcrowded on weekends & holidays. Here, demarketing is used to regulate demand. SYNCHRO MARKETING : When the demand for a product is irregular due to season, causing Idle or overworked capacity, synchro-marketing can be used to find ways to alter the same pattern of demand through flexible pricing, promotion & other incentives.
  • 70. CONCLUSION Ordinarily, Marketing is an activity performed by business organizations. However, it is not necessarily confined only to business enterprises. “ Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of value with customers”. - Philip Kotler.