Mordern Marketing Practices

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  • Mordern Marketing Practices

    1. 1. AMIT KUMAR LAL CHARU MORDERN MARKETING PRACTICES copyright @ hum
    2. 2. TRADITIONAL MARKETING <ul><li>MARKETING WHICH BASICALLY USES </li></ul><ul><ul><li>Segmenting </li></ul></ul><ul><ul><li>Targeting </li></ul></ul><ul><ul><li>Positioning </li></ul></ul><ul><ul><li>Mass media promotion distribution </li></ul></ul><ul><ul><li>As these marketing practices are losing their value hence its time for modern practices </li></ul></ul>copyright @ hum
    3. 3. Why we need modern marketing <ul><li>Media fragmentation </li></ul><ul><li>Customer apathy </li></ul><ul><li>Brand disloyalty </li></ul><ul><li>Changing social norms </li></ul><ul><li>Internet </li></ul><ul><li>Global competitors </li></ul>copyright @ hum
    4. 4. Mass media fragmentation <ul><li>There are so many TV channels and magazines due to which there is a clutter </li></ul><ul><li>For this purpose marketer is going for---- </li></ul><ul><ul><li>Advertisement in dailies </li></ul></ul><ul><ul><li>Television soap which are frequently watched </li></ul></ul><ul><ul><li>During cricket matches </li></ul></ul>copyright @ hum
    5. 5. internet <ul><li>Customers are using more search engines </li></ul><ul><li>Even some of the sites like www.compareindia.com enable customers to compare various products from diverse manufactures. </li></ul><ul><li>It’s use can be seen more in hotel and retail . </li></ul>copyright @ hum
    6. 6. Changing social norms <ul><li>Disposable income is increasing </li></ul><ul><li>Working women are increasing </li></ul><ul><li>nuclear family structure </li></ul>copyright @ hum
    7. 7. Global competitors <ul><li>Competitor is increasing day by day. Even companies like Ford and GE are fighting for the survival </li></ul><ul><li>Sometimes the global competitors are not even physically present in the local markets </li></ul><ul><ul><li>Example </li></ul></ul><ul><ul><li>Crossword in India is a book store chain giving competition to Amazon which is a online book store </li></ul></ul>copyright @ hum
    8. 8. Modern marketing practices <ul><li>Product innovation </li></ul><ul><li>Experiential marketing </li></ul><ul><li>Differential pricing </li></ul><ul><li>One to one personalization </li></ul><ul><li>Value added services </li></ul><ul><li>Use of unconventional brand persona </li></ul><ul><li>Let us discuss in detail </li></ul>copyright @ hum
    9. 9. Product innovation <ul><li>Earlier product was introduced mainly by the product line extension and brand extension </li></ul><ul><li>Now company goes for “ break through innovation” by Harvard professor Clayton Christensen </li></ul><ul><li>examples </li></ul><ul><ul><li>Ipod by Apple </li></ul></ul><ul><ul><li>Suv by Mahindra and Mahindra </li></ul></ul><ul><ul><li>Setwet braked the shield of Brylcream </li></ul></ul>copyright @ hum
    10. 10. Experiential marketing <ul><li>Today product differentiation is very difficult hence company goes for it in the manner in which customer experiences the offering that made the differentiator. </li></ul><ul><li>Examples </li></ul><ul><ul><li>Marketer is selling the experience like automakers gives test drives </li></ul></ul><ul><ul><li>Kingfisher’s special attraction to the customer at each interaction </li></ul></ul><ul><ul><li>Sony sells their product through their Sony centre to maintain standard services </li></ul></ul>copyright @ hum
    11. 11. Differential pricing <ul><li>This is new technique used by the marketer today </li></ul><ul><ul><li>Airtel uses different mobile tariff for different states </li></ul></ul><ul><ul><li>Maruti Suzuki Swift comes in 6 variants </li></ul></ul><ul><ul><li>Airlines charges high price in peak seasons and low prices at lean seasons </li></ul></ul><ul><ul><li>International airline give 3 tier structure </li></ul></ul><ul><ul><ul><li>Economy </li></ul></ul></ul><ul><ul><ul><li>Business </li></ul></ul></ul><ul><ul><ul><li>Executive </li></ul></ul></ul>copyright @ hum
    12. 12. One on one personalization <ul><li>Basically it talks about one to one interaction </li></ul><ul><li>Insurance companies do it very well with the help of the agents </li></ul><ul><li>Even Amazon do it by seeing what customer have searched and then provide them the same type of searches </li></ul><ul><li>Use of CRM is increasing </li></ul><ul><li>Hdfc has preferred account for the premium customers </li></ul>copyright @ hum
    13. 13. Unconventional brand personae <ul><li>Let us discuss wid the examples </li></ul><ul><li>Close up </li></ul><ul><ul><li>There target is youth </li></ul></ul><ul><ul><li>As youth is not having the good image </li></ul></ul><ul><ul><li>Close up depicts the youth as crazy and outlandish and hence it appeal to youth </li></ul></ul><ul><ul><li>Musical track is also very attractive </li></ul></ul>
    14. 14. More examples <ul><li>Titan </li></ul><ul><ul><li>Aamir khan as brand ambassdor </li></ul></ul><ul><ul><li>Those who want distinct identity </li></ul></ul><ul><ul><li>Those who want to stand out of the crowd </li></ul></ul><ul><ul><li>Proctor and gamble has created a buzz market to connect to the youth through www.tremor.com </li></ul></ul>
    15. 15. Value addition services <ul><li>These can be provided through </li></ul><ul><ul><li>Airlines has collabrated with so many hotels and amd car rental service company </li></ul></ul><ul><ul><li>Yatra.com has cobranded with the barclays bank for credit card for travelling facilities </li></ul></ul><ul><ul><li>It’s a win win situation </li></ul></ul>

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