Marketing process - Segmenting, Targeting, Positioning and marketing concepts
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Conclusions Like it or not, globalization is a reality Cultural sensitivity is key to successful market entry Consumers entering the global economy are learning and negotiating how to be a part of this process. MNCs have a moral and social responsibility that should go beyond profitability when entering new markets. While MNCs have knowledge of their products they also have a lot to learn from emerging markets. Important for MNCs to remember this two-way street to marketing knowledge
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Marketing process - Segmenting, Targeting, Positioning and marketing concepts
- 1. MARKETING PROCESS pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 2. The Marketing Process Target Consumers Product Place Price Promotion M arketing Im plem entation M arketing Planning M arketing Control M arketing Analysis Competitors Marketing Channels PublicsSuppliers Demographic- Economic Environment Technological- Natural Environment Political- Legal Environment Social- Cultural Environment pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 3. The Marketing Process The strategic planning and business portfolio analysis processes help to identify and evaluate marketing opportunities. The purpose of the marketing process is to help the firm plan how to capitalize on these opportunities. Analyzing marketing opportunities Selecting target markets Developing the marketing mix Managing the marketing effort Key ElementsKey Elements pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 4. The Marketing Process The segmentation process divides the total market into market segments. Target marketing determines which segment(s) are pursued. The market positioning for the product is then determined. Analyzing marketing opportunities Selecting target markets Developing the marketing mix Managing the marketing effort Key ElementsKey Elements pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 5. The Marketing Process Competitor analysis guides competitive marketing strategy development. Strategy leads to tactics by way of the marketing mix: • The “Four Ps” – product, price, place, promotion (seller viewpoint) • The “Four Cs” – customer solution, cost, convenience, and communication (customer viewpoint) Analyzing marketing opportunities Selecting target markets Developing the marketing mix Managing the marketing effort Key ElementsKey Elements pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 6. The Marketing Process Marketing analysis • Provides information helpful in planning, implementation, and control Marketing planning • Strategies and tactics Marketing implementation • Turns plans into action Marketing control • Operating control • Strategic control • Marketing audit Analyzing marketing opportunities Selecting target markets Developing the marketing mix Managing the marketing effort Key ElementsKey Elements pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 7. CONCEPTS OF MARKETING Production Concept Product Concept Selling Concept Marketing Concept Customer concept Societal Concept pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 8. PRODUCTION CONCEPT Consumer will prefer those products that are widely available and inexpensive. Focus on high production efficiency, low costs & mass distribution. Applicable to service sector also: Medical & Dental practices. pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 9. PRODUCT CONCEPT Consumer will favor those products which offer most quality, performance or innovative features. Focus on making of superior products. GM’s executive said:- HOW CAN THE PUBLIC KNOW WHAT KIND OF CAR THEY WANT, UNTIL THEY SEE WHAT IS AVAILABLE? pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 10. SELLING CONCEPT Consumers shows buying inertia or resistance in buying. Focus is aggressive selling & promotion effort. Happens with most of the products that don’t get sold easily like:- insurance, encyclopedias, funeral plots. pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 11. MARKETING CONCEPT Concept came in 1950s. Instead of right customers for your product… “RIGHT PRODUCTS FOR RIGHT CUSTOMERS” Focus on :-Meeting need profitably, find wants and fill them, love the customer not the product. “YOU ARE THE BOSS” – UNITED AIRLINES “PUTTING PEOPLE FIRST”- BRITISH AIRWAYS “HAVE IT YOUR WAY”- BURGER KING pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 12. FACTORY PRODUCTS SELLING & PROFITS THROUGH PROMOTING SALES VOLUME TARGET CUSTOMER INTEGRATED PROFITS THROUGH MARKET NEEDS MARKETING CUSTOMER SATISFACTION STARTING POINT FOCUS MEANS ENDS (A) THE SELLING CONCEPT (B) THE MARKETING CONCEPT SELLING Vs MARKETING CONCEPT pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 13. STARTING POINT FOCUS MEANS ENDS THE CUSTOMER CONCEPT INDIVIDUAL CUSTOMER CUSTOMER NEEDS & VALUES 1 TO 1 MARKETING INTEGRATION & VALUE CHAIN PROFITABLE GROWTH THROUGH CAPTURING CUSTOMER LOYALTY, SHARE AND LIFETIME VALUE pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 14. SOCIETAL CONCEPT Focuses on social & ethical considerations in marketing practices. E.g.:- FAST FOOD HAMBURGER INDUSTRY TASTY BUT UNHEALTHY, HIGH FAT CONTENT, WRAPPED IN CONVIENIENT PACKAGE –LEADS TO WASTE. FINALLY, HURTS CONSUMER HEALTH & ALSO CAUSES ENVIRONMENTAL PROBLEMS. pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 15. Are MNCs good or harmful to a nation’s culture? The case of McDonalds McDonalds more than any company signifies the transnational global company in today’s world. Countries have varied in their acceptance of McDonalds Considered to be harmful to existing eating customs Also, considered to be a manifestation of ‘American Imperialism’ Critics of globalization call the ‘McDonald -dization’ of the world a bad consequence of globalization. pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 16. So is McDonald’s good or bad? A group of cultural anthropologists studied countries in Asia to assess the impact of McDonalds The researchers found that meanings differ dramatically in East Asia from the US as to what McDonalds really means East Asians see McDonalds as a representation of America The Chinese see it as a place to relax and socialize at, rather than as a ‘fast food’ place. Its also more expensive and upscale to eat at a McDonalds rather than in the US. pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 17. McDonalds in India McDonalds radically altered its menu to enter India - no beef or pork is served, only vegetable based foods and a mutton burger - it is the only country in the world where McDonald’s has deviated so widely from its standard menu When food confronts something so central to a culture - religious beliefs in this case - Indian consumers have chosen to ‘Indianize’ the food system The McVeggie burger has now been introduced in NYC, illustrating how the consumer in an emerging market can affect the globalization process pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!
- 18. Conclusions Like it or not, globalization is a reality Cultural sensitivity is key to successful market entry Consumers entering the global economy are learning and negotiating how to be a part of this process. MNCs have a moral and social responsibility that should go beyond profitability when entering new markets. While MNCs have knowledge of their products they also have a lot to learn from emerging markets. Important for MNCs to remember this two-way street to marketing knowledge pdfMachine A pdf writer that produces quality PDF files with ease! Produce quality PDF files in seconds and preserve the integrity of your original documents. Compatible across nearly all Windows platforms, if you can print from a windows application you can use pdfMachine. Get yours now!