Marketing management

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Marketing management

  1. 1. MARKETING MANAGEMENT A THEORITICAL AND PRACTICAL PERSPECTIVE
  2. 2. Definitions of MARKETING <ul><li>The performance of business activities that direct the flow of goods and services from producer to consumer. </li></ul><ul><li>Getting the right goods , to the right people in the right place , at the right time , at the right price , with the right level of communication profitably. </li></ul><ul><li>Identifying the needs, wants , desires of consumers and fulfilling them in such a way that the customer is delighted and the company objectives are met profitably. </li></ul><ul><li>Solving customer problems profitably. </li></ul>
  3. 3. Difference Between Marketing & Sales <ul><li>Marketing Sales </li></ul><ul><li>Focus on customer Focus on seller (product) </li></ul><ul><li>Is about profit this year is about revenue this week </li></ul><ul><li>Delighting the customer converting product into cash </li></ul><ul><li>Both new and repeat New customers is a priority, </li></ul><ul><li>customers important not bothered much about </li></ul><ul><li>with focus on repeat customers repeat customers. </li></ul><ul><li>5. Long term vision Short Term Outlook (week/ </li></ul><ul><li>month) </li></ul>
  4. 4. SEGMENTATION <ul><li>Segmentation Base </li></ul><ul><li>Geographic </li></ul><ul><li>Region </li></ul><ul><li>City Size </li></ul><ul><li>Climate </li></ul><ul><li>Psychographic </li></ul><ul><li>Lifestyle </li></ul><ul><li>Personality </li></ul><ul><li>Variables </li></ul><ul><li>North South, East, West </li></ul><ul><li>Major Metros, Sub –Metros, Town </li></ul><ul><li>Hot, cold, humid </li></ul><ul><li>Conservative, Status Seekers </li></ul><ul><li>Extrovert, Introvert, Aggressive </li></ul>
  5. 5. SEGMENTATION <ul><li>C) Demographic </li></ul><ul><li>Age </li></ul><ul><li>Sex </li></ul><ul><li>Family Size </li></ul><ul><li>Education </li></ul><ul><li>Occupation </li></ul><ul><li>Income </li></ul><ul><li>Religion </li></ul><ul><li>0-11,12-19,20-34 etc. </li></ul><ul><li>Male, Female </li></ul><ul><li>1-2,3-4,5+ </li></ul><ul><li>school, Graduate, PG </li></ul><ul><li>Farmer, Professional, </li></ul><ul><li>Housewife, Retired </li></ul><ul><li><15k,16-25k,26-35k etc. </li></ul><ul><li>Hindu, Muslim, Sikhs, </li></ul><ul><li>Christians </li></ul>
  6. 6. SEGMENTATION <ul><li>D) Behavioral </li></ul><ul><li>Benefit </li></ul><ul><li>Use Related </li></ul><ul><li>1) Usage Rate: </li></ul><ul><li>2) Awareness Status </li></ul><ul><li>3) Brand Loyalty </li></ul><ul><li>Use-Situational </li></ul><ul><li>Time/Objective </li></ul><ul><li>Quality, Service, Economy, Speed, Prestige. </li></ul><ul><li>Heavy, Medium , Light users </li></ul><ul><li>Unaware, aware, interested </li></ul><ul><li>enthusiastic. </li></ul><ul><li>Strong, Medium , None </li></ul><ul><li>Leisure, work, Morning, Night </li></ul><ul><li>Gift, Fun , Achievement </li></ul>
  7. 7. Positioning <ul><li>Positioning starts with the product. But Positioning is not what you do to a product. Positioning is what you do to the mind of the prospect. </li></ul><ul><li>Easiest way to get into the mind -  Be First </li></ul><ul><li>KODAK- Photography </li></ul><ul><li>Xerox -- Copier </li></ul><ul><li>Hertz --- Rent-a –car </li></ul>
  8. 8. PRODUCT <ul><li>Defn : A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. </li></ul><ul><li>e.g. :- Physical Goods :-- Cars, W/M </li></ul><ul><li>Services :- Training </li></ul><ul><li>Persons :- Michael Jackson </li></ul><ul><li>Ideas : - Family Planning </li></ul><ul><li>Five Levels of Product </li></ul><ul><li>Level 1 : Core Benefit : Fundamental benefit that the customer is buying . E.g. :- Hotel :-Rest, CTV :- Entertainment </li></ul>
  9. 9. Product <ul><li>Level 2:- Generic Benefit : Basic version of the product. </li></ul><ul><li>e.g. : Hotel : consists of a building with rooms. </li></ul><ul><li>W/M : Metal/plastic body with console </li></ul><ul><li>panel </li></ul><ul><li>Level 3 : Expected Product : A set of attributes and conditions that buyers normally expect and agree when they purchase the product. </li></ul><ul><li>e.g. : Hotel : Clean Bed, soap, towels, telephone </li></ul><ul><li>CTV : Tuning on remote, cable ready. </li></ul>
  10. 10. Product <ul><li>Level 4 : Augmented Product : includes additional services and benefits that distinguishes the company’s offer from competitor’s offers. </li></ul><ul><li>e.g. : Hotel : Complimentary breakfast, Flat CTV, </li></ul><ul><li>24 Hrs checkout, etc. </li></ul><ul><li>Level 5: Potential Product: All augmentations and transformations that the product might ultimately undergo in the future. </li></ul><ul><li>e.g. : Computer compatible TV (which can operate at room temperatures) </li></ul>
  11. 11. <ul><li>Product width : Different Product categories the company is in </li></ul><ul><li>Product Length : In each product category how many products </li></ul><ul><li> are available </li></ul><ul><li>Product depth : Variants that are offered for each product. </li></ul><ul><li>Product Strategies </li></ul><ul><li>1) Downward Stretch </li></ul><ul><li>2) Upward Stretch </li></ul><ul><li>3) Two-way Stretch </li></ul>
  12. 12. BRANDING <ul><li>“ Products don’t sell , Brands sell” </li></ul><ul><li>The ultimate aim of product manager must be to convert the product into a successful brand. </li></ul><ul><li>Japanese Name : TOKYO TSHUSIN KOGYO </li></ul><ul><li>KABUSHIKI KAISHA </li></ul><ul><li>English name : Tokyo Telecommunications </li></ul><ul><li>Engineering company </li></ul>
  13. 13. BRANDING <ul><li>CITIBANK : The citi never sleeps. </li></ul><ul><li>HSBC : The world’s local bank. </li></ul><ul><li>Canara Bank: Growing to serve. Serving to grow. </li></ul><ul><li>L’OREAL: Because you’re worth it. </li></ul><ul><li>Maybelline: May be she’s born with it. May be its Maybelline. </li></ul><ul><li>GO GOA : 365 days on a holiday. </li></ul><ul><li>Kerala : God’s own country. </li></ul><ul><li>Retreat : city ends. Life begins. </li></ul><ul><li>KL : VISION CITY </li></ul><ul><li>Malaysia : Truly Asia. </li></ul><ul><li>Singapore : Singapore Roars </li></ul><ul><li>Hong Kong: Live it up. </li></ul>
  14. 14. BRANDING <ul><li>BPL : Believe in the best. </li></ul><ul><li>Videocon : Bring home the leader </li></ul><ul><li>Technology for health and Pleasure. </li></ul><ul><li>Sansui :Better then the best </li></ul><ul><li>Born in Japan . Entertaining the world. </li></ul><ul><li>LG :Digitally yours. </li></ul><ul><li>Nokia :Connecting people </li></ul><ul><li>Motorola : Intelligence everywhere. </li></ul><ul><li>Ceat Tyres : Born Tough. </li></ul><ul><li>Femina : For the woman of substance. </li></ul><ul><li>For generation W. </li></ul>
  15. 15. BRANDING <ul><li>Orange : Wherever you go, our network follows. </li></ul><ul><li>Reliance India Mobile : Kar lo Duniya Mutthi Mein. </li></ul><ul><li>Aaj Tak : Sabse Tej. </li></ul><ul><li>Chevrolet optra : The new name for luxury. </li></ul><ul><li>Santro Xing : The sunshine car. </li></ul><ul><li>Tata Indigo: Spoil Yourself. </li></ul><ul><li>Mitsubishi Lancer: Always in control. </li></ul><ul><li>Raymond : For the complete man. </li></ul><ul><li>Tata Salt : Desh ka namak. </li></ul><ul><li>Louis Philippe: The upper crest. </li></ul>
  16. 16. BRANDING <ul><li>Defn:- A name ,symbol, design which is intended to identify the goods ,services of one company and to differentiate the goods from those of competitors. </li></ul><ul><li>BRAND NAME DECISION </li></ul><ul><li>Individual Brand Name : P & G :- Ariel, Pantene </li></ul><ul><li>A Blanket Family Name : Philips </li></ul><ul><li>Company Name combined with individual product names:- </li></ul><ul><li>Britannia 50-50 </li></ul><ul><li>Videocon Bazoomba </li></ul>
  17. 17. BRANDING <ul><li>Brand Strategy </li></ul><ul><li>Line Extension </li></ul><ul><li>Brand Extension </li></ul><ul><li>Multi Brand </li></ul><ul><li>New Brands </li></ul>
  18. 18. Promotion <ul><li>Advertising </li></ul><ul><li>Sales Promotion </li></ul><ul><li>Personal Selling </li></ul><ul><li>PR and publicity </li></ul><ul><li>Direct marketing </li></ul>
  19. 19. Sales promotion <ul><li>Consumer Promotion </li></ul><ul><li>(Manufacturer point of view) </li></ul><ul><li>To increase sales of self brand </li></ul><ul><li>To divert attention from competition brands. </li></ul><ul><li>Enables manufacturers to adjust to periods of low demand. </li></ul><ul><li>Induce customers to try new products/brands. </li></ul><ul><li>Customer point of view. </li></ul><ul><li>Enables customers to have a better understanding of real prices. </li></ul><ul><li>Consumers feel good that they get value for money deals. </li></ul>
  20. 20. Sales Promotion <ul><li>Consumer Promotion Tools: </li></ul><ul><li>Samples : Free samples with TOI , Mid-day, Filmfare. </li></ul><ul><li>Coupons: FMCG companies: 15% discount coupon or some rupees off for the next purchase. </li></ul><ul><li>Price Packs: Pack of 2 or more at reduced price. </li></ul><ul><li>Banded Pack : Two related products banded together (toothpaste with toothbrush, VCD player with software.) </li></ul><ul><li>Contests : Answer a few questions, write a slogan. </li></ul><ul><li>Free Trials: Free auto drives. </li></ul><ul><li>Warranties: 3 yr on CTV, 7 yrs on compressor. </li></ul>
  21. 21. Sales Promotion <ul><li>Scratch ’n’ win offer: </li></ul><ul><li>Money back offer </li></ul><ul><li>Loyalty promotion: Frequent Flyer programs </li></ul><ul><li>Cross promotion: Two related product categories promoting together , mostly the second product is free. </li></ul><ul><li>Tie-in promotion : used in conjunction with consumer durables wherein total is lower then if bought separately. </li></ul>

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