Ch1 understanding marketing_in_new_perspective

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Ch1 understanding marketing_in_new_perspective

  1. 1. Chapter 1 <ul><li>Understanding Marketing in a New Perspective </li></ul>
  2. 2. The Need for a New Perspective in Understanding Marketing <ul><li>Traditionally, texts on Marketing have addressed Marketing through ‘the customer cum 4P framework’ </li></ul><ul><li>(Product, Place, Price and Promotion) </li></ul><ul><li>Discussions were centred on the Customer and the 4P </li></ul><ul><li>In this scheme the crux of marketing had been denied its due prominence. </li></ul><ul><li>‘ Value Delivery ’, got blurred in the mire of </li></ul><ul><li>marketing terminologies and prescriptions. </li></ul><ul><li>The problem was one of perspective . </li></ul><ul><li>This Course is presenting Marketing in a new perspective </li></ul>
  3. 3. Marketing Under Attack <ul><li>In yester years, Marketing enjoyed the pride of place in the world of business </li></ul><ul><li>But in recent times, marketing has been under attack and marketing men on the firing line </li></ul>
  4. 4. Main Criticisms against Marketing`s performance <ul><li>Fails to deliver targeted top and bottom line & shuns accountability </li></ul><ul><li>Fails to help avoid industry price pressures </li></ul><ul><li>Fails to graduate from selling products to marketing solutions </li></ul><ul><li>Fails to graduate from tactical to strategic marketing </li></ul><ul><li>Lacks the required concerns for the customers & hence fails to retain them </li></ul>
  5. 5. <ul><li>Fails to grasp that abundance of choice in itself does not help to retain the customers </li></ul>
  6. 6. Ignoring ‘Value Delivery’ the Main Reason Behind Marketing’s Trouble <ul><li>Where did Marketing go wrong? </li></ul><ul><li>It is marketing’s failure to recognise ‘value delivery’ as the crux of marketing that caused the trouble </li></ul><ul><li>Marketing men forgot that Value Delivery is the foundation of customer satisfaction and that it is by sticking to ‘value delivery’ that marketing can get its practical direction </li></ul>
  7. 7. How Did Marketing Men Happen To Ignore ‘Value Delivery’? <ul><li>Excessively Preoccupied with the 4P Framework </li></ul><ul><li>4P framework has been operating at a narrow, tactical level </li></ul><ul><li>Marketing men tying up marketing to mere implementation issues </li></ul><ul><li>Attending More to ‘Downstream’ and Less to ‘Upstream’ Marketing Activities </li></ul><ul><li>Relying Increasingly on Gimmicks and ‘Quick Fixes’ </li></ul><ul><li>Clinging Excessively to Segmentation Approach, Neglecting the Individual Needs of the Customer </li></ul><ul><li>Making Exaggerate Product Premises </li></ul>
  8. 8. Marketing in a New Perspective <ul><li>A Paradigm Shift in Understanding Marketing has Become Imperative </li></ul><ul><li>This course presents Marketing in a New Perspective- A Perspective centered on Value </li></ul>

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