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Question 1 What are important trends in marketing practices? (Chapter 21) (Anurag Kar)

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Sameer mathur
Sameer mathur

Based on Chapter 21 of Marketing Management A South Asian Perspective by Koller Ketler and Jha

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What are the important trends in marketing practices?
By, Anurag Kar B.Tech. Student Department of E and ECE IIT Kharagpur Based on Chapter 21: Managing a Holistic Marketing Organisation for the Long Run Of Marketing Management: A South Asian Perspective By Kotler, Keller, Koshy and Jha
Consumers have become more DISCRIMINATING.
This results is increase in Competition.
As the general awareness about environmental degradation improves…
Marketers have to act more responsibly.
Consumers have now adopted the ideology of… LESS is MORE
Companies can’t win by standing still.
Balsara Hygiene Failure by these firms recently…
And the success of these firms…
Show that consumers want firms to invest in improving their offerings by finding new ideas.
Marketers must work closely with…
Marketers must work closely with… Product Development R&D Sales Force Finance Manufacturing Logistics
To satisfy the customers fully and to establish a value creation mind set in the organization.
Some important shifts in marketing and business practices are…
Reengineering Appointing teams to customer value building processes and break down walls between departments.
Buying more goods and services from outside domestic or foreign vendors. Reengineering Outsourcing
Studying “best practice companies” to improve performance. Reengineering Outsourcing Benchmarking
Partnering with fewer but better value adding suppliers. Reengineering Outsourcing Benchmarking Supplier Partnering
Working more closely with customers to add value to their operations. Reengineering Outsourcing Benchmarking Supplier PartneringCustomer Partnering
Acquiring or merging with firms in the same or complementary industries to gain economies of scale and scope. Reengineering Outsourcing Benchmarking Supplier PartneringCustomer Partnering Merging
Increasing efforts to “think global” and “act local”. Reengineering Outsourcing Benchmarking Supplier PartneringCustomer Partnering Merging Globalizing
Reducing the number of organizational levels to get closer to the customer. Reengineering Outsourcing Benchmarking Supplier PartneringCustomer Partnering Merging Globalizing Flattening
Reengineering Outsourcing Benchmarking Supplier PartneringCustomer Partnering Merging Globalizing Flattening Focusing Determining the most profitable businesses and customers and focusing on them.
Reengineering Outsourcing Benchmarking Supplier PartneringCustomer Partnering Merging Globalizing Flattening Focusing Justifying Becoming more accountable by measuring, analysing and documenting the effects of marketing actions.
Reengineering Outsourcing Benchmarking Supplier PartneringCustomer Partnering Merging Globalizing Flattening Focusing Justifying Accelerating Designing the organization and setting up processes to respond more quickly to changes in the environment.
Reengineering Outsourcing Benchmarking Supplier PartneringCustomer Partnering Merging Globalizing Flattening Focusing Justifying Accelerating Empowering Encouraging and empowering personnel to produce more ideas and take more initiative.
Reengineering Outsourcing Benchmarking Supplier PartneringCustomer Partnering Merging Globalizing Flattening Focusing Justifying Accelerating EmpoweringBroadening Factoring the interests of customers, employees, shareholders, and other stakeholders into the activities of the enterprise.
Reengineering Outsourcing Benchmarking Supplier PartneringCustomer Partnering Merging Globalizing Flattening Focusing Justifying Accelerating EmpoweringBroadeningMonitoring Tracking what is said online and studying customers, competitors, to improve business practice.
Reengineering Outsourcing Benchmarking Supplier PartneringCustomer Partnering Merging Globalizing Flattening Focusing Justifying Accelerating EmpoweringBroadeningMonitoring
Thank You!
Credits Pictures Sourced from: www.flickr.com www.pinterest.com http://commons.wikimedia.org www.theguardian.com www.imgur.com Fonts Sourced from: www.fontsquirrel.com Based on “Marketing Management: A South Asian Perspective” By Kohler, Kelter, Koshy and Jha

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Question 1 What are important trends in marketing practices? (Chapter 21) (Anurag Kar)