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  1. 1. P r e s e n t e d B y S o n a k s h i N a r a n g
  2. 2. Contents  So what is marketing?  What can be marketed?  Segmentation, Targeting & Positioning  Branding  The Marketing Mix  Product Management  Marketing Communications  Expanding Marketing’s Traditional Boundaries
  3. 3. So what is marketing?  Marketing actually covers everything from company culture and positioning, through market research , new business/product development, adverting and promotion PR(public/Press relation), and arguably all of the sales and customer service functions as well;  Systematic attempt to fulfill human desires by producing good and services that people will buy.  Where the cutting edge of human nature meets the versatility of technology  Market oriented companies help us discover desires we never knew we had, and ways of fulfilling them we never imagined could be invented.
  4. 4. Definition  American Marketing Association the process of planning and executing the conception, pricing , promotion, and distribution of idea, goods, and services to create exchanges that satisfy individual and organizational objectives.  Philip Kotler : Marketing is a social process by which individuals and groups obtain what they need and want through creating and exchanging product and value with other.  Chartered Institute of Marketing : Marketing is the management process that identifies anticipates and satisfies customer requirements profitably.
  5. 5. Three Level of Marketing  The Top Level Marketing  Marketing as a business philosophy  In essence it’s the process by which a company decides what it will sell, to whom, when & how and then does it!
  6. 6.  The second Level of Marketing  Marketing as strategy  It talks about the environment the business is operating in; customers, competitors, laws, regulations etc. and planning market strategy to make a successful business.  This layer is about:  SEGMENTING the market  Deciding which customer to TARGET  Deciding what messages you want the targets to associate with you: POSITIONING
  7. 7.  This level also talks about Branding Concept  It is not just about logos and names  Brands are about image – or more correctly its perception, branding is link b/w the attributes customers associate with a brand and how the brand owner wants the customer to perceive the brand: the brand identity.  Level two of Marketing can thus be summarized as STP + Branding.
  8. 8.  The third level marketing is about  day to day operational running of marketing  Encompasses the control of the marketing mix and the processes within a business that help create and deliver that company’s products and services to the customer.  This level spans all aspects of a business and across all customer contact points including:  A company’s website  How they answer the phones  Their marketing & PR campaigns  Their sales process  How customer contact staff present themselves  How a business delivers its services  How business “managers” its clients  How a business solicits feedback from its clients
  9. 9. Review:  Marketing involves an ongoing process. The environment is “dynamic”  Market tends to change – what customer want today is not necessarily what they want tomorrow  This process involves both planning and implementing the plan.  A simple definition would be: the right product, in the right place, at the right time, at the right price.
  10. 10. The Value of Marketing  Fundamental idea of marketing is organizational survival through meeting the needs and wants of customers.  Marketing Concept – is a philosophy and business orientation about matching a company’s capabilities with customers’ wants.  This matching process – marketing environment  It involves  Strategic  And tactical marketing within the organization's structure.
  11. 11.  Needs:  An organization that adopts the marketing concept accepts the needs of potential customers as the basis for its operations and thus its success depends on satisfying those customer needs.  Basic requirement that an individual has to satisfy to continue to exist.
  12. 12.  Maslow's Hierarchy of need is the best way to understands the needs of the customers.  Helps understanding human behavior through needs motivation.  These needs are created from human biology and the nature of social relationships, it is just that human society and  Marketers have evolved many different ways to satisfy these basic needs. Source: Maslow's Hierarchy (1943)
  13. 13.  Utility:  Is a measure of relative satisfaction from or desirability of consumption of various goods and services.  In other words it is the want satisfying power of the goods and services.  Types of utilities:  Form Utility: Product planning and developing activity creates form utility.  Time Utility: making the product available when consumer wants to purchase it.  Place utility: making the product available in a location convenient for customers to buy from.  Ownership Utility: refers to the orderly transfer of legal title to the product or service from the seller to the buyer via a sales transaction.
  14. 14.  Exchange Process:  Marketing involves two or more parties trading something of value with each other. E.g. while going to restaurant you exchange money for food and services  Steps that involve in exchange process:  There must be two parties each with unsatisfied needs or wants.  Each must have something to offer.  Parties must communicate.  This process exists only when two or more parties benefit from trading something of value.
  15. 15.  Concept of demand:  It involves a group of Potential customers with shared need that can be satisfied through an exchange relationship to mutual satisfaction of the potential customers and suppliers.  In other words it is the want for a specific product / service supported by the ability and willingness to pay for it.  STP- Segmenting the market on the basis of demand.
  16. 16. The Marketing concept  There are 4 era in the development of business which have sequentially led to the development of the marketing Concept.  The 4 era’s of business philosophy.
  17. 17. Adopting The Marketing Orientation  Sales Orientation: pays little attention to the customers needs and wants.  Production Orientation pays attention to bulk production only i.e. maximize profitability by exploiting economies of scale.  Product Orientation: obsess with its own product
  18. 18. What Can Be Marketed?  Right from a pure service to a pure commodity everything can be marketed.  These services and commodities are differentiated on the bases of :  Tangibility  Perishability  Separability  Standardization
  19. 19. TPO : Total Product Offering  This is the total package that makes up and surrounds the product including all supporting features such as branding, servicing, and warranties, indeed the TPO includes all elements of the marketing mix so that marketers must design a complete, co-ordinated, cohesive and congruent package.
  20. 20.  Core Benefit Product:  These product  do not create a new need in themselves.  will satisfy a need in its basic sense.  E.g. Communication: E-Mail, SMS, Messaging app replaced fax, letters , telegrams etc.  Basic Product:  Is the Product that stripped down to its essentials and is often referred to as the FAB.  Features- quality  Attributes- features presented in such a manner that it adds value  and Benefits- favorable results customers expect to obtain by using a product.
  21. 21.  Augmented Product:  Contains supporting features.  Aim to provide ways to enhance the offering and can be used to counter objections or resolve doubts in the customer’s mind.  Perceived product  It is the way customer looks ant the product.  Marketers need to make efforts so that the customers perceives the product as it is intended- Positioning.
  22. 22. Types of Marketing  B2C- marketing to consumers  B2B- marketing to business
  23. 23. Segmenting, Targeting, & Positioning
  24. 24. Segmenting  Is a process of breaking down the total market for a product of service into distinct sub segment where each segment may conceivably represent a separate target market to be reached with marketing mix.  Segmentation helps to know  customers insights.  Needs of actual and potential customers  Bases of segmentation:  Geographic Variables: Location, east west north south  Demographic variables: statistics about age, income, gender, family size etc.  Psychographic variables: lifestyle, attitude, values, personality.  Behavior: brand loyalty, User type i.e. heavy user or light user.
  25. 25. Targeting  Target marketing is identification of market segments that are identified as being the most likely purchasers of a company’s products.  Targeting of the segment depends on various factors:  Level of competition in existing market  How large is the segment and how can we expect it grow?  Do we have strength as a company to appeal to the targeted group of customers.  Are we actually able to communicate with the selected segment.
  26. 26. Positioning  It refers to the way in which an organization sets itself apart in the market and how its products and services are perceived by the target markets as a whole.
  27. 27. Positioning and perception  Positioning concept has two dimensions  What the organization wishes to achieve  What consumers actually believe about a particular product or service.
  28. 28. Ries and Trout (1981) : Positioning Concept  They believed that positioning can be achieved within 3 major concepts:
  29. 29. 4 C’s positioning frame work
  30. 30. Strategies of product positioning  Positioning in relation to:  Attributes: durability, quality, style, design.  Usage: heavy usage, light usage  Competitors:  Positioning : • directly against the competitor • Away from competitor • In relation to different product class
  31. 31. Product repositioning  It is required when performance drops or doesn’t materialize.  Few repositioning strategies  Image repositioning: only the image is changed  Product repositioning: total product offering is adapted  Intangible Repositioning: less tangible aspect of the product is given more emphasis  Tangible Repositioning: Both market and product is adapted.
  32. 32. Step in product Positioning  Define market segment  Determine which segment to target  Understand the targeted customer’s needs  Evaluate perceived positioning of competitors product  Select positioning bases for product service vis a vis targeted customers' needs and competitor's positioning in the market  Communicate the selected positioning / image to the targeted customers.
  33. 33. Branding  Brands?  The culmination of a user’s total experience with the product over many years.  That experience is made of a multitude of good neutral and bad encounters such as the way a product performs an advertising message, a press repot, a telephone call, or a rapport with a sales assistant.  Branding in business terms lies with the need for groups and individual to have an identity that was easily recognizable by others.
  34. 34. Why do we brand products?  A strong brand is now seen as key to commercial success by providing the following main advantages:  High brand equity  Increased product awareness levels  The ability to charge a premium  Premium pricing  Competitive edge  Building relationships: e.g. Diageo- Smirnoff, Johnny Walkers, Captain Morgan  Higher likelihood of repeat purchases  Retail leverage  New product success thanks to the brand name
  35. 35. Marketing Mix  The marketing mix  refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market.  The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like process, people, and physical evidence as vital mix elements in context to services only.
  36. 36. Explanation of 4P’s  Price:  refers to the value that is put for a product.  It depends on costs of production, segment targeted, ability of the market to pay, supply - demand and a host of other direct and indirect factors.  There can be several types of pricing strategies:  Premium pricing: used in case of uniqueness of the product.  Penetration pricing: to maximize the market share in short time scale.  Economy Pricing: cost kept minimum
  37. 37.  Price skimming: charge high due to substantial competitive advantage.  Psychological pricing  Product line pricing: where there is rage of products and services and pricing is done on the bases of benefits provided.  Optional product pricing: Seller attempts to increase the amount customer spends once they start to buy.  Promotional pricing: buy one get one free  Geographical pricing: online buying shipping charges
  38. 38.  Place:  refers to the point of sale.  Along with total channel of distribution and consideration of the value chain for raw material through the customer.  Various distribution intermediaries:  Wholesalers: break down the bulk  Agents: get orders  Retailers: has strongest personal relationship with customer  Internet: expose products to wide audience.
  39. 39. • Product: refers to the item actually being sold. Anything that satisfies customers needs. The product must deliver a minimum level of performance; otherwise even the best work on the other elements of the marketing mix won't do any good.  Types of products:  B2C: consumer products:  B2B: Industrial Products:  Durable goods: TV, PC’s  Non durable goods: Fresh food  Service products: cleaning broadband, gardening  Shopping goods: cars, clothes, shoes  Specialty goods: antiques, classic cars, wedding dress etc.  FMCG: coffee, milk, tea etc..  Capital goods: cars, vans, building  Accessories: Pc’s Telephones, Mobile phones  Raw material: flour, yeast, sugar, water, herbs ,spices  Supplies: stationery, pens, papers  Services: Transports. IT support, Accounting.
  40. 40.  Promotion:  this refers to all the activities undertaken to make the product or service known to the user and trade.  This can include:  Personal selling  Sales Promotion: coupons, discounts, competitions  Public relations:  Direct Marketing  Trade fair and exhibition  Advertising  Sponsorship
  41. 41.  Physical evidence:  Material part of services  Customers tend to rely on physical cues to help them evaluate the product before they buy it.  The role of the marketer is to design and implement such tangible evidence.  Types of evidence are:  Packaging  Internet  Ambiences  Paperwork  Corporate branding (signs, symbols and artifacts)  Business cards  Building itself
  42. 42.  People:  Most important element of any service or experience.  They add value to an experience  As a part of marketing mix :  Training  Personal selling  Customer service
  43. 43.  Process:  of giving a service, and the behavior of those who deliver are crucial to customer satisfaction.  Issues such as waiting times, the information given to customers and the helpfulness of staff are all vital to keep customers happy.
  44. 44. Production Management  Is an organizational function that deals with the planning, forecasting and marketing the product at all the stages of product life cycle.  It encompasses the broad set of activities required to get the product to market and to support it thereafter.  Objective:  Design product strategies  Spot market opportunities as it is the messenger to the market and delivers information to the department  Develop strategies for all the stages of product life cycle  Generate new idea  Empower the sales effort by defining sales process
  45. 45. Marketing Communications  Marketing communication (MarCom) provides the means by which brands and organizations are presented to their audiences.  The goal is to stimulate a dialogue that will, ideally, lead to a succession of purchases and complete engagement.  Marketing communications is an audience-centered activity  This interaction represents an exchange between each organization and each customer; according to the quality and satisfaction of the exchange process, it will or will not be repeated.  Marketing communication includes advertising, direct marketing, branding, packaging, your online presence, printed materials, PR activities, sales presentations, sponsorships, trade show appearances and more; which attempts to promote the interest of the brand, product range, and company.
  46. 46. The Marketing Communication Mix  The marketing communications mix consists of a set of tools (disciplines) that can be used in various combinations and different degrees of intensity in order to communicate with a target audience.  Advertising  Advertising is a non-personal form of mass communication that offers a high degree of control to those responsible for the design and delivery of advertising messages. However, advertising’s ability to persuade the target audience to think or behave in a particular way is suspect.  Furthermore, the effect on sales is extremely hard to measure.
  47. 47.  Personal Selling  is traditionally perceived as an interpersonal communication tool that involves face-to-face activities undertaken by individuals, often representing an organization, in order to inform, persuade or remind an individual or group to take appropriate action, as required by the sponsor’s representative.  A salesperson engages in communication on a one-to-one basis where instantaneous feedback is possible.  The costs associated with interpersonal communication are normally very large.
  48. 48.  Sales Promotion  Sales promotion comprises various marketing techniques that are often used tactically to provide added value to an offering, with the aim of accelerating sales and gathering marketing information.  Like advertising, sales promotion is a non-personal form of communication, but it has a greater capability to be targeted at smaller audiences.  It encourages quick action buyers.
  49. 49.  Public Relations  Public relations is ‘the art and social science of analyzing trends, predicting their consequences, counseling organizations' leadership, and implementing planned programmes of action which will serve both the organization's and the public interest.  The increasing use of public relations, and publicity in particular, reflects the high credibility attached to this form of communication.  Publicity involves the dissemination of messages through third-party media such as magazines, newspapers or news programmes.
  50. 50. Marketing Communication Process  Effective communication means effective marketing.  Buyers’ perceptions of market offering are influenced by the amount and the type of information they receive as well as their reaction to the information  There must be a good flow of information b/w seller and the buyer to assist decision making that precedes the sales  An effective marketing communication system also allows feedback from the customer to the seller.
  51. 51. Marketing related messages  Receivers of a message - greatly influenced by the nature of its source;  Audience perceives a communicator as credible. Then they are more likely to accept their view.  Communicators underlying objective- audience less persuasive.  Methods to Enhance credibility-  advertisers use candid television interviews.  Endorsement of the product bye an expert with appropriate knowledge.  Credibility of the source is also a function of prestige/ status.  Source is to be restated- repeat advertisement.
  52. 52. The development of MarCom  Above the line promotional techniques- renting space on TV, newspaper. Posters, radios etc.  Below the line promotional technique: sales promotion, sponsorship, and exhibitions.  Marketing effectiveness depends on communication effectiveness.  Professional researchers have developed  Underlying theories using strategic elements of branding & marketing in order to ensure consistency od the message delivery throughout organization  Market activate –information flows.
  53. 53. Expanding marketing’s traditional boundaries
  54. 54. The whole area of marketing we now call Non traditional marketing or alternative marketing or off street marketing. Major categories are as follows: 1. Ambient Marketing 1. Place Marketing 2. Astroturf Marketing 2. Presence Marketing 3. Buzz Marketing 3. Social Marketing 4. Cause Related Marketing 4. Social Media Marketing 5. Event Marketing 5. Sports Marketing 6. Experiential Marketing 6. Organizational Marketing 7. Guerrilla Marketing 7. Person marketing 8. Grass Roots Marketing 8. Viral Marketing