Comprehensive Exam 2008 <ul><li>Prof M C Rashid Khan </li></ul><ul><li>[email_address] </li></ul>Prof M C Rashid Khan , mc...
Crazy Marketing <ul><li>Creating high curiosity among the customers through innovative communication mix strategy (PR, Adv...
Connected   Marketing <ul><li>It is umbrella term for viral , buzz and word of mouth marketing . </li></ul><ul><li>Any pro...
Green Marketing <ul><li>.  Marketing efforts to produce, promote, and reclaim environmentally sensitive products are calle...
Example of Green marketing  <ul><li>Taj Hotel prides in being eco-friendly  </li></ul><ul><li>It uses herbal toiletries , ...
Ethical Marketing <ul><li>An emergent and growing marketing philosophy </li></ul><ul><li>Companies  continually strive to ...
Unethical Practices Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
Marketing Mix <ul><li>Marketing Mix is particular combination of the products , its price , the method to promote it and t...
What Is a Product ? <ul><li>Anything that can be offered to a market for attention, acquisition, use, or consumption that ...
Product  Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in <ul><li>Product decision involves deciding what goods or services...
Price <ul><li>Price is the cost that customer is willing to bear for the product </li></ul><ul><li>Payment period and cred...
Promotions <ul><li>Decisions have to be made with respect to promotion mix , advertising , personal selling , sales Promot...
Place <ul><li>It involves decisions concerning distribution channels to be used </li></ul><ul><li>Location of outlets </li...
Distribution Channel  <ul><li>Independent intermediaries , such as retailers ,  wholesales and distributors through which ...
Function of distribution channel <ul><li>Transfer product from manufacturer to the customers </li></ul><ul><li>Pass inform...
Segmentation <ul><li>Segmentation is the process of clubbing together similar customers in a group so that thy can continu...
Target Market <ul><li>A company may not have the resources and the capabilities to serve all the segments </li></ul><ul><l...
Positioning <ul><li>Positioning is the process of creating a distinct offer and communicating it to the customers </li></u...
Marketing Redefined <ul><li>“ Marketing is a process of satisfying customer’s demand for a product or service or solution ...
De-Marketing  <ul><li>Marketers attempt to reduce the demand for a product when the demand for the product is greater than...
Dual Marketing <ul><li>“ When a new product in being marketed and existing old product is being  demarketed using a compan...
Dual Marketing Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in <ul><li>Inability to maintain the desired price ,product qu...
Bi Marketing Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in <ul><li>“ When a company markets a product as a major product...
Customer Value Maximization <ul><li>Providing superior product than its competitors </li></ul><ul><li>Customizing the prod...
Value Creating Process <ul><li>Bring voice of the customer in the organization </li></ul><ul><li>Develop a value propositi...
STP of Rebook <ul><li>Segment :  aiming at the high end segment of those with the income of Rs. 4 to 5 lacs </li></ul><ul>...
Segment strategy <ul><li>Geographic : region , state , city , rural ,urban </li></ul><ul><li>Demographic : Income, age , g...
Target Market Strategy  <ul><li>Mass Marketing strategy  </li></ul><ul><li>Example: Vitamin tables, soap , pen etc. </li><...
Positioning Strategies  <ul><li>Positioning is the act of fixing the locus (place) of the products in the minds of the tar...
Clinical marketing <ul><li>Concept 1  : Marketing under observation by the marketers /users. </li></ul><ul><li>Example: Tr...
What is Marketing strategy <ul><li>“ A  marketing strategy  is a process that can allow an organisation to concentrate its...
Element of marketing Strategy  <ul><ul><li>Marketing strategy : a firm’s overall program for selecting and satisfying a ta...
Market Driven <ul><li>Market Driven : strategies begin with an unmet customer need .  </li></ul><ul><li>Customers are know...
Market driving <ul><li>Strategy begin with a new technology . </li></ul><ul><li>Example; The Original Palm PDA, Lap top, I...
Role of Music in Marketing <ul><li>It creates warmth and friendliness and foster healthy public relation  </li></ul><ul><l...
What is Co-branding? <ul><li>Use of multiple brand names together  </li></ul><ul><li>on a single product or service to the...
Role of co-branding in advertising <ul><li>It increase the visibility of the both the brands </li></ul><ul><li>It help to ...
Recession <ul><li>Income, production and  employment fall </li></ul><ul><li>Reduced demand for  goods and services </li></...
Recession Marketing Strategies <ul><ul><li>Improve existing products </li></ul></ul><ul><ul><li>Introduce new products </l...
 
 
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Marketing Comprehensive Examination 2008, Clinical Marketing, Bi-marketing, Crazy marketing, role of music in marketing

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Marketing Comprehensive Examination 2008,By M C Rashid khan Clinical Marketing, Bi-marketing, Crazy marketing, role of music in marketing, Demarketing, Customer value Maximization, Value creating process

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  • Marketing Comprehensive Examination 2008, Clinical Marketing, Bi-marketing, Crazy marketing, role of music in marketing

    1. 1. Comprehensive Exam 2008 <ul><li>Prof M C Rashid Khan </li></ul><ul><li>[email_address] </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    2. 2. Crazy Marketing <ul><li>Creating high curiosity among the customers through innovative communication mix strategy (PR, Advertisement, Promotion, publicity etc). </li></ul><ul><li>Providing innovative and break through product . </li></ul><ul><li>Generate high demand in less time for a product . </li></ul><ul><li>Using seduction and adventurous stunts in ads </li></ul><ul><li>Applying loss leader strategy in pricing </li></ul><ul><li>Making the product available everywhere through out 24/7. </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    3. 3. Connected Marketing <ul><li>It is umbrella term for viral , buzz and word of mouth marketing . </li></ul><ul><li>Any promotional activities that uses word of mouth connections between people , whether digital or traditional as communication media to stimulate demand. </li></ul><ul><li>Example: Connected customers </li></ul><ul><li>Direct friends </li></ul><ul><li>Friends-of-friends </li></ul><ul><li>New connectivity tools: Web, GSM, SMS, Messenger, Blogs </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    4. 4. Green Marketing <ul><li>. Marketing efforts to produce, promote, and reclaim environmentally sensitive products are called green Marketing </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    5. 5. Example of Green marketing <ul><li>Taj Hotel prides in being eco-friendly </li></ul><ul><li>It uses herbal toiletries , no smoking designated rooms, stationary from recycled papers and educating guests on the need to protect Mother earth by using less detergents. </li></ul><ul><li>Avoided the poly-utherane bags </li></ul><ul><li>DTC uses CNG after court order </li></ul><ul><li>Wastage management my MCD and corporate </li></ul><ul><li>Philips introduces energy saving fluorescent bulbs </li></ul><ul><li>McDonald wastage reduction and un-bleached paper carry out bags </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    6. 6. Ethical Marketing <ul><li>An emergent and growing marketing philosophy </li></ul><ul><li>Companies continually strive to find morally effective ways to attract and retain customers </li></ul><ul><li>Handling marketing in a way that contributes to the well being of society, do what is right , obey laws, </li></ul><ul><li>Companies not only consider its customers and its profitability but also the good of the wider community (local and globally) </li></ul><ul><li>It Leads to better market share and profitability </li></ul><ul><li>Consumer protection and curbing potential harm. </li></ul><ul><li>Example of unethical marketing : high price, poor service, deceptive practices, high pressure selling , privacy invasion, producing shoddy and unsafe products , creates barriers to other players to entry etc. </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    7. 7. Unethical Practices Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    8. 8. Marketing Mix <ul><li>Marketing Mix is particular combination of the products , its price , the method to promote it and the ways to make the product available to the customers </li></ul><ul><li>Based upon its understanding of customers a company develop its marketing mix of product , price , place and promotion </li></ul><ul><li>Managers must manage these 4p’s in a way that they satisfy customers needs better than the competitors </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    9. 9. What Is a Product ? <ul><li>Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Kotler. </li></ul><ul><li>A product is a total package of attributes the customers obtains when making a purchase. … Quelch </li></ul><ul><li>A product is any offering by a company to a market that serves to satisfy customer needs and wants. </li></ul><ul><li>It can be an object, service, idea, etc </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    10. 10. Product Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in <ul><li>Product decision involves deciding what goods or services should be offered to customers </li></ul><ul><li>The products or services serves the basic needs of the customers </li></ul><ul><li>It provides the primary value to the customers </li></ul><ul><li>As technologies and tastes changes product become out of date and inferior to the competition </li></ul><ul><li>Company must replace them with new designs and features that customers value </li></ul><ul><li>Products decisions involves choices regarding brand , names , warranties , Packaging and services </li></ul>
    11. 11. Price <ul><li>Price is the cost that customer is willing to bear for the product </li></ul><ul><li>Payment period and credit terms also affect the real price received in any transaction </li></ul><ul><li>Change in price can damage customer perceptions about the value of the product </li></ul><ul><li>If price is reduced customers may start regarding it as an inferior quality product </li></ul><ul><li>Higher price may also bring negative impact </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    12. 12. Promotions <ul><li>Decisions have to be made with respect to promotion mix , advertising , personal selling , sales Promotion, exhibition, sponsorship and public relations </li></ul><ul><li>By these means the target audience is made aware of the existence of product and the benefits that it confers to customers </li></ul><ul><li>Example: an expensive product like machinery with limited number of customers should be promoted through personal contacts between the buyers and sales persons </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    13. 13. Place <ul><li>It involves decisions concerning distribution channels to be used </li></ul><ul><li>Location of outlets </li></ul><ul><li>Method of transportation </li></ul><ul><li>Inventory level to be held </li></ul><ul><li>Product should be available in right quantity at right time and place </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    14. 14. Distribution Channel <ul><li>Independent intermediaries , such as retailers , wholesales and distributors through which goods passed onto the customers </li></ul><ul><li>They provide cost effective access to the market place </li></ul><ul><li>Company has to manage and structure good relationship with intermediaries </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    15. 15. Function of distribution channel <ul><li>Transfer product from manufacturer to the customers </li></ul><ul><li>Pass information from manufacturer to the customers </li></ul><ul><li>Retrieve payments from the customers to the manufacturers </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    16. 16. Segmentation <ul><li>Segmentation is the process of clubbing together similar customers in a group so that thy can continue to segments its market into smaller and more homogeneous (same) groups. </li></ul><ul><li>It can be used as a vehicle for entering a market. </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    17. 17. Target Market <ul><li>A company may not have the resources and the capabilities to serve all the segments </li></ul><ul><li>It may decide to serve one or more segment depending upon its capabilities and resources </li></ul><ul><li>The segment that a company chooses to serve is called target market </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    18. 18. Positioning <ul><li>Positioning is the process of creating a distinct offer and communicating it to the customers </li></ul><ul><li>The process of positioning is continuous in nature and it should always be proactive because new needs and competitors keep cropping up. </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    19. 19. Marketing Redefined <ul><li>“ Marketing is a process of satisfying customer’s demand for a product or service or solution beyond his / her expectations , taking into account customer value or value addition to customer and social responsibility as compared with a competitor.” </li></ul><ul><li>-- Dr. P. L. Maggu </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    20. 20. De-Marketing <ul><li>Marketers attempt to reduce the demand for a product when the demand for the product is greater than the manufacturer's ability to produce it. </li></ul><ul><li>Demarketing strategies involve raising prices, reducing advertising or promotion activities, or eliminating product benefits. </li></ul><ul><li>Demarketing does not aim to destroy the demand but only to lower it to make it level with the ability to produce the product. </li></ul><ul><li>Eg: An oil company is faced with an ever increasing demand. The marketer here has to de-market oil by educating motorist on the importance of conservation of oil. </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    21. 21. Dual Marketing <ul><li>“ When a new product in being marketed and existing old product is being demarketed using a company’s goodwill for the old product in introducing the new one by withdrawing the old product at the same moment.” Dr. P. L. Maggu </li></ul><ul><li>This type of situation has been designated as the concept of dual marketing. </li></ul><ul><li>The business situation in which the concept of dual marketing can be visualized for example: </li></ul><ul><li>A business situation in which a company uses its brand name to introduce a new product in place of the existing product or a substitute product by withdrawing it from the market on account of the following reasons: </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    22. 22. Dual Marketing Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in <ul><li>Inability to maintain the desired price ,product quality in the global market. </li></ul><ul><li>Rapid change in technology and incapability to cope up with it. </li></ul><ul><li>considering to increase the cost of existing product by changing its pattern and design </li></ul><ul><li>Replace the existing product anticipating the shortage of raw materials as per the government changed business policies. </li></ul>
    23. 23. Bi Marketing Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in <ul><li>“ When a company markets a product as a major product and introduces a new product as a minor product the cost of which may be included in the major product and further the minor product is not being produced by any other competitor . Minor product is just a sample product which after some time may be inducted as a major product . This situation has been designated here as Bi-Marketing.” Dr. P. L. Maggu </li></ul><ul><li>Example: A business situation in which a company is introducing a gift product along with the major (main) product. </li></ul>
    24. 24. Customer Value Maximization <ul><li>Providing superior product than its competitors </li></ul><ul><li>Customizing the product as per customer requirement </li></ul><ul><li>Communicating the customers about the benefits and usage of the products and services. </li></ul><ul><li>Providing product at less price , value for money </li></ul><ul><li>Making the product available at the convenient locations </li></ul><ul><li>Giving customers full freedom for product and service choice </li></ul><ul><li>Listening to the customers with empathy and solving their problems immediately </li></ul><ul><li>Maintaining long term interactive relationship with the customers. </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    25. 25. Value Creating Process <ul><li>Bring voice of the customer in the organization </li></ul><ul><li>Develop a value proposition and competitive positioning based on customers needs </li></ul><ul><li>Integrating the product ,pricing, placement, and promotion policies to deliver what the target market wants. </li></ul><ul><li>Example: Godrej-GE provides inbuilt curd make in its 400 liter fridge. </li></ul><ul><li>Example: Virgin Atlantic adds new service for no cost or negligible cost . </li></ul><ul><li>Example: FedEx provides the details of assignments free of cost on its websites and even mention name of persons who received the assignments. </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    26. 26. STP of Rebook <ul><li>Segment : aiming at the high end segment of those with the income of Rs. 4 to 5 lacs </li></ul><ul><li>Targeting the Urban marketing in the initial phase later focused on “B” category cities. </li></ul><ul><li>Positioning : Initially Youths(boys and girls) especially sports loving individuals. Later young working women. </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    27. 27. Segment strategy <ul><li>Geographic : region , state , city , rural ,urban </li></ul><ul><li>Demographic : Income, age , gender, family life cycle, social class , education, occupation, ethnic back ground etc. </li></ul><ul><li>Psychographic : Personality , lifestyle, values . </li></ul><ul><li>Behavioral : Benefits desired , user rate </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    28. 28. Target Market Strategy <ul><li>Mass Marketing strategy </li></ul><ul><li>Example: Vitamin tables, soap , pen etc. </li></ul><ul><li>Single segment strategy(Niche marketing) </li></ul><ul><li>Example: Royal Royce , Ferrari, Mercedes , Apollo Hospitals offering Cradle for pregnant omen </li></ul><ul><li>Multi segment strategy </li></ul><ul><li>Example: University offering course for Executive as well as regular students. Evian bottled water targeting athletes as well as pregnant women and environmentalists </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    29. 29. Positioning Strategies <ul><li>Positioning is the act of fixing the locus (place) of the products in the minds of the target customers . </li></ul><ul><li>Selecting the positioning concept (i.e, what is important to the target markets) </li></ul><ul><li>Design dimension and features that most effectively convey the position ( brand name, a slogan, the appearance etc) </li></ul><ul><li>Coordinate the marketing mix components to convey a consistent position ( consistently conveying the same positioning of marketing mix) </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    30. 30. Clinical marketing <ul><li>Concept 1 : Marketing under observation by the marketers /users. </li></ul><ul><li>Example: Try to Know why a particular toy attracts most of the kids. </li></ul><ul><li>Concept 2: Selling clinical research (psychological / medical R & D data ) to the target market. </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    31. 31. What is Marketing strategy <ul><li>“ A marketing strategy is a process that can allow an organisation to concentrate its limited resources on the greatest opportunities (to increase sales and profit) and achieve sustainable competitive advantage” </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    32. 32. Element of marketing Strategy <ul><ul><li>Marketing strategy : a firm’s overall program for selecting and satisfying a target market </li></ul></ul><ul><ul><li>Elements of Marketing strategies : </li></ul></ul><ul><li>Product selection(Customization /standardization) </li></ul><ul><li>Market selection </li></ul><ul><li>Setting the price </li></ul><ul><li>Choosing the distribution system (company sales force distributors, agents , franchise out let, wholesale , retail) </li></ul><ul><li>Communication strategy (Print and television advertising, direct mail, trade show, sampling, telemarketing, point of sales displays) </li></ul><ul><li>Plant location </li></ul><ul><li>Technical service </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    33. 33. Market Driven <ul><li>Market Driven : strategies begin with an unmet customer need . </li></ul><ul><li>Customers are known, they can be easily surveyed. </li></ul><ul><li>Their needs are explicit . We can test customer satisfaction with the new product. </li></ul><ul><li>Example: Adding internet-enabling technology to a Palm PDA, mobile handsets . </li></ul><ul><li>The role of marketing: </li></ul><ul><li>Carefully researching the unmet customers needs </li></ul><ul><li>Devising a marketing plan that effectively communicates the availability of the incremental innovation at an acceptable price point and at a convenient distribution place. </li></ul><ul><li>Motorola utmost focused on product and ignoring the customer interest in digital technology led the rise of its competitors like Nokia, Ericssion, Qualcomm . </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    34. 34. Market driving <ul><li>Strategy begin with a new technology . </li></ul><ul><li>Example; The Original Palm PDA, Lap top, I-Pod etc. </li></ul><ul><li>These types of products innovation is describe as breakthrough. </li></ul><ul><li>Customers need to be educated about their need , use , availability of the product etc. </li></ul><ul><li>Qualitative Marketing research is used </li></ul><ul><li>Marketers need to research customers and their expressed and latent needs. </li></ul><ul><li>Role of marketer is to </li></ul><ul><li>Create new customers </li></ul><ul><li>Company should keep on innovating the product and should not be obsessed with the technologies. </li></ul><ul><li>Example: Palm PDA , replaced by Newton PDA of Apple. </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    35. 35. Role of Music in Marketing <ul><li>It creates warmth and friendliness and foster healthy public relation </li></ul><ul><li>The jingles increases the recall value of the product/service </li></ul><ul><li>It provides aesthetic value and cerate soothing selling environment </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    36. 36. What is Co-branding? <ul><li>Use of multiple brand names together </li></ul><ul><li>on a single product or service to the </li></ul><ul><li>mutual benefit of both </li></ul><ul><li>brands </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    37. 37. Role of co-branding in advertising <ul><li>It increase the visibility of the both the brands </li></ul><ul><li>It help to reduce advertisement costs </li></ul><ul><li>It widens the reach of its communication </li></ul><ul><li>It helps to maintain effective Public relation </li></ul><ul><li>It make promotion and publicity easier </li></ul><ul><li>It helps to improve Sales guarantee/security </li></ul><ul><li>It creates awareness among the mass about the utility of the products </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    38. 38. Recession <ul><li>Income, production and employment fall </li></ul><ul><li>Reduced demand for goods and services </li></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in
    39. 39. Recession Marketing Strategies <ul><ul><li>Improve existing products </li></ul></ul><ul><ul><li>Introduce new products </li></ul></ul><ul><ul><li>Maintain customer services </li></ul></ul><ul><ul><li>Emphasize top-of -the line products and promote product value </li></ul></ul>Prof M C Rashid Khan , mcrashidkhan@yahoo.co.in

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