Modern marketing process involves something more than just developing a good product, pricing it attractively & making it accessible. It calls for communication with the present & potential stakeholders & the general public. For most companies today, the question is not whether to communicate, but rather what to say, to whom, & how often.
3. WHAT IS MARKETED-1
Marketing people are involved in marketing 10
types of entities –
• Goods – physical products, consumer
products, consumer durables
• Services – transport, repair & maintenance,
legal, financial, consultancy, hotel, specialised
skills
• Experiences – theaters, opera, Disney-world,
ocean cruise, cinema, music concerts
4. WHAT IS MARKETED-2
• Events – trade shows, sports, world cups,
vintage car rally, fashion shows, artistic
performance shows
• Persons – celebrity marketing, film stars,
politicians, artists, performers, advertisers
• Places – cities, states, countries for tourism,
leisure & place for industrialisation & business
5. WHAT IS MARKETED-3
• Properties – ownership of tangible properties
like real estate, house, apartment, farm house,
precious metals and intangible properties like
financial portfolio of various securities
• Organisations – building up identity, image,
reputation, and value in the minds of
consumers
6. WHAT IS MARKETED-4
• Informations – can be packaged & marketed
as a product – text books, encyclopaedias,
magazines & journals on literature, science,
technology, medicine space, now available
thru internet
• Ideas – concept regarding a utility, business
opportunity, advertising / marketing ideas,
scientific & technical, social, financial,
psychological etc.
8. INTRODUCTION
• Modern marketing process involves
something more than just developing a good
product, pricing it attractively & making it
accessible. It calls for communication with the
present & potential stakeholders & the
general public. For most companies today, the
question is not whether to communicate, but
rather what to say, to whom, & how often.
9. INTRODUCTION
• In a simple marketing system there is a two-
way flow of entities between
• the “Industry” (a collection of marketers) and
• the “Market” (a collection of buyers)
• They are given in the following matrix, and we
clearly see that it’s a two-way process:
10. FLOW OF ENTITIES
Entities that flow from
Industry to Market are
• Goods / Services,
• Communications.
Entities that flow from
Market to Industry are
• Money,
• Information /
Feedback.
11. COMMUNICATIONS
• Communication and information have attained so
much of refinement and popularity, that the
world has become a global village.
• Despite the incidents of hatred and distrust, the
world has shown that it is united by the instant &
relentless communications.
• In addition to being a global force communication
is the unique tool that marketers use to persuade
the consumers to act as in a desired way, say to
vote, to buy, to donate, to patronise, etc.
12. COMMUNICATIONS
• Communications take many forms, like verbal,
visual or symbolic, and convey special meaning
that the marketers want to impart to the
consumers.
• Communications can evoke emotions that put
consumers in more receptive frames of mind, and
it can encourage purchases that help consumers
solve problems or avoid negative outcomes.
• In short, Communications is the bridge between
marketers & consumers, and between consumers
& their socio-cultural environments.
13. THE MARKETING
COMMUNICATIONS MIX
• This is a way of looking at the whole
marketing process from the viewpoint of the
customer (-Kotler).
• The modern marketing communications mix
(also called the Promotional mix) consists of
Six major tools or models of communications
(which may be further sub-divided), they are:
14. THE MC MIX – 1 & 2
–Advertising: Any paid form of nonpersonal
presentation & promotion of ideas, goods,
or services by an identified sponsor.
–Sales Promotion: A variety of short term
incentives to encourage trial or purchase of
a product or service.
15. THE MC MIX – 3 & 4
–Public Relations & Publicity: A variety of
programmes designed to promote or
protect a company’s image or its individual
products.
–Personal Selling: Face-to-Face interactions
with one or more prospective purchasers
for the purpose of making presentations,
answering questions, and procuring orders.
16. THE MC MIX – 5 & 6
–Direct & Interactive Marketing: Use of mail,
telephone, fax, e-mail, or internet to
communicate directly with or solicit
response or dialogue from specific
customers and prospects.
–Events & Experiences: Company sponsored
activities and programmes designed to
create daily or special brand related
interactions.