Marketing session 1
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Marketing session 1

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Marketing

Marketing

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  • Marketing Handouts
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Marketing session 1 Marketing session 1 Presentation Transcript

  • Sessions I Objectives• What concepts underlie the discipline of marketing• What basic tasks do marketing managers perform• What is marketing concept and how does it contrast with other philosophies of doing business Pratap Rawal 1
  • What is said?1. The best product or service will win.2. Attack your competitors’ weakness with your marketing.3. You have to run an ad 3-6 times before it is effective/profitable.4. “I know this product like the back of my hand. I’ll be able to sell it.” Pratap Rawal 2
  • What is said?5. Everyone loves it. I’ll have no problem selling a bunch.6. The Internet is an easy place to make money.7. You should cut back on your marketing and advertising expenditures in a recession.8. I’ll be able to get money to finance my new product. Pratap Rawal 3
  • Core Concepts of Marketing• Needs, Wants and Demands• Product or Offering• Value and Satisfaction• Exchange and Transactions• Relationships and Networks• Marketing Channels• Supply Chain• Target Markets Pratap Rawal 4
  • Marketing ManagementProcess of analyzing,planning,implementing,coordinating and controlling programs involving the conception,pricing,promotion and distribution of goods, services and ideas designed to create and maintain beneficial exchanges with the target markets for the purpose of achieving organisational objectives Pratap Rawal 5
  • Modern Marketing System Suppliers Company Competitors (Marketer)Environment Environment Marketing Intermediaries End User Market Pratap Rawal 6
  • Marketing Management Marketing Demand ProfitableManagement Management Customer RelationshipsImplementing Finding and programs increasing Attracting new to create demand, also customers and exchanges changing or retaining and with target reducing building buyers demand such relationships to achieve as in with currentorganizational Demarketing customers goals Pratap Rawal 7
  • Essential requirements of marketing• The identification of consumer needs(What goods & services are bought, how they are bought, by whom they are bought and why they are bought)• The definition of target market(grouping of customers by common characteristics, geographic, demographic, psychological etc)• The creation of differential advantage by which a distinct competitive position relative to other companies can be established Pratap Rawal 8
  • How the differential advantage can be established?• Manipulation of the elements in the marketing mix Pratap Rawal 9
  • The P’s of marketing• Product-Product Management, New Product Development, Branding, Packaging• Pricing-Discounts, Allowances, Terms of Business etc• Promotion-Advertising, Sales Promotion, Publicity, Public Relations, personal selling• Place-Channel Management ,Physical Distribution• People-Employee selection, training, motivation• Physical evidence-layout , décor, ease of access, forms of presentation• Process Management-How the customers are handled and managed from the point of very first contact with the organization Pratap Rawal 10
  • Company orientation towards marketplace• The Production Concept• The Product Concept• The Selling Concept• The Marketing Concept• The Societal Marketing Concept Pratap Rawal 11
  • Marketing and Sales Concepts ContrastedStarting Focus Means Ends Point Selling Profits ExistingFactory and through Products Promoting Volume The Selling Concept Profits Customer IntegratedMarket through Needs Marketing Satisfaction The Marketing Concept Pratap Rawal 12
  • Societal Marketing Concept Society (Human Welfare) Societal Marketing Concept Consumers Company(Want Satisfaction) (Profits) Pratap Rawal 13
  • Holistic Marketing Concept• Relationship Marketing• Integrated Marketing• Internal Marketing• Socially Responsible Marketing Pratap Rawal 14
  • Pillars of the Marketing Concept• Target Market• Customer Needs• Integrated Marketing• Profitability Pratap Rawal 15
  • Marketing Tasks• Target those customers most compatible with its resources• Develop products that meet the needs of the target market better than the competitive products do• Make products readily available• Develop customer awareness of the problem solving capabilities of the company’s product line• Obtain feedback from the market about the company’s products Pratap Rawal 16
  • The Customer FocusFactors influencing customer satisfaction• Delivery system• Product Performance• Image• Price Value Relationship• Employee Performance• Competition Pratap Rawal 17
  • Requirement for developing customer driven organization• Instilling customer oriented values and beliefs supported by top management• Integrating market and customer focus into strategic planning process• Developing strong marketing managers and programs• Creating market based measures of performance• Developing customer orientation throughout the organization Pratap Rawal 18
  • Marketing Myopia• Because of myopic product focus others gain the benefits of growth• Define the business in terms of basic customer needs rather than product – Transportation Business rather than railroad business- energy instead of petroleum business, communication rather than telephone business – Xerox changed focus from copiers when it became the document company• Defining a business in terms of generic need is useful in fostering creativity and generating strategic options and avoiding internally oriented product/production focus Pratap Rawal 19
  • Dynamism in Business and Marketing Pratap Rawal 20
  • ESCALATING INFULENCE OF TECHNOLOGY• Competitive Advantage• High Cost• Short Life Cycles• Range of Choices• Innovation Process• Analyzing Customer Needs• Information technology• Environmental responsibility Pratap Rawal 21
  • Gillette Sensor Case• Gillette sensor razor introduced in 1990• Required about $200 million do develop and start manufacturing• Another $110 million in commercialization• Business Challenge was formidable To substantially increase Gillette’s profits sensor must perform a marketing miracle: halt a 15 year old trend towards inexpensive disposable razors at double the cost of shaving using disposables - sensor will be a hard sell Pratap Rawal 22
  • Challenges …Customers Expect higher quality and service and customization Perceive fewer real product differences Show greater price sensitivity Can obtain extensive product information Pratap Rawal 23
  • Challenges …Brand Manufacturers Intense competition from local and foreignbrands Rising promotional costs and shrinkingprofits Bargaining power of retailers who command limited shelf space Pratap Rawal 24
  • Challenges … Store based retailers Small retailers versus the giant retailers Store retailing versus non store retailing Large retailers selling “experience” rather than only product assortment Pratap Rawal 25
  • Shifts• Marketing does marketing-Everyone does marketing• Making everything-outsourcing• Many Suppliers- Few suppliers- Partnerships• Relying on old market positions- uncovering new ones• Emphasizing on tangible assets- emphasis on intangible assets• Advertising- IMC• Store retailing-non store retailing• Selling to everyone- Selling to well defined target market• Market Share- Customer Share• Local- Glocal• Focusing on financial scorecard- Marketing Score card• Shareholder focus – Stakeholder focus Pratap Rawal 26
  • Company responses and adjustments tochallengesReengineeringOutsourcing-virtual companiesE-commerceBenchmarking-study world class performers and adoptbest practicesAlliancesPartner suppliersMarket CenteredGlobalDecentralized Pratap Rawal 27
  • Marketer responses and adjustments tochallenges Relationship Marketing Customer lifetime value Customer Share instead of market share-Variety to existing customers Target Marketing Individualization Customer Database Integrated Marketing Communication Channels as partners Every employee a marketer Model based decision making Pratap Rawal 28
  • The five major elements of strategy Where will we be active? How will we obtain Arenas our returns?What will be our speed Staging Economic Logic Vehicles How will we getand sequence of moves? there? Differentiators How will we win in the market place? 13/03/12 Pratap Rawal 29