B.V.Raghunandan-Marketing Concepts

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B.V.Raghunandan-Marketing Concepts

  1. 1. Poornaprajna Institute of Management, Udupi August 19, 2008
  2. 2. <ul><li>Concepts do not Change </li></ul><ul><li>The Circumstances in which the Concepts are applied will Change </li></ul><ul><li>Basic Concepts of an Entrepreneur get Modified from Time to Time </li></ul><ul><li>A Highly Successful Companies try all the Concepts </li></ul>
  3. 3. <ul><li>Basic Approach to the Consumers </li></ul><ul><li>Conditions of the Market </li></ul><ul><li>Product Nature </li></ul><ul><li>Racial Qualities </li></ul><ul><li>Religious Beliefs </li></ul><ul><li>Personal Qualities of the Entrepreneur </li></ul><ul><li>Reaction to the Market </li></ul><ul><li>Exploitation of the market </li></ul>
  4. 4. <ul><li>Short Term Profit </li></ul><ul><li>Life Time Consumers </li></ul><ul><li>Nature of Risk Taking </li></ul><ul><li>Believing in the Ignorance of Consumers </li></ul><ul><li>Belief that Good Product sells by Itself </li></ul><ul><li>Putting Morals Above business and profit </li></ul><ul><li>Easier Selling Efforts </li></ul>
  5. 5. <ul><li>Monopoly: legal or natural </li></ul><ul><li>Created Monopoly </li></ul><ul><li>Branded Monopoly </li></ul><ul><li>Competition </li></ul><ul><li>Market becoming Homogenous </li></ul><ul><li>Consumer becoming complex </li></ul><ul><li>Unpredictability of Consumer Behaviour </li></ul>
  6. 6. <ul><li>Insurance Products </li></ul><ul><li>Booking for Graveyards </li></ul><ul><li>Vacuum Cleaners </li></ul><ul><li>Water Purifiers </li></ul><ul><li>Encyclopedias </li></ul>
  7. 7. <ul><li>Mongolian Race: Techno-Savvy, </li></ul><ul><li>Amoral in Business Practices (Beg, Borrow or Steal), Product innovation, Firm Belief in Product Concept; Business is War </li></ul><ul><li>Caucasian Race: Risk-taking, Brand Building, Advertising, and Belief in Marketing Concept; Business is Gambling </li></ul>
  8. 8. <ul><li>Parsi Community’s Belief in Product Concept </li></ul><ul><li>Approaches of Tata Group and Godrej Group </li></ul>
  9. 9. <ul><li>Microsoft </li></ul><ul><li>Apple Computers </li></ul><ul><li>IBM Computers </li></ul><ul><li>Reliance Group </li></ul><ul><li>Amul </li></ul>
  10. 10. <ul><li>Protecting Market Share </li></ul><ul><li>Gaining Shelf Space </li></ul><ul><li>Shooting in the Air </li></ul><ul><li>Competition </li></ul><ul><li>Diversification, Dithering, Consolidation, Restructuring ………..Total surrender to the Market </li></ul>

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