Marketing concept of today

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The Concept of Marketing and its Evolution

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Marketing concept of today

  1. 1. Evolution of Marketing & Customer Orientation….
  2. 2. • Concept of Marketing is essentially a Customer Orientation concept. • ‘Customer is King’- customer/services are bought not because of their quality, packaging or brand name, but because they satisfy a specific need of the customer. • Marketing is ‘understanding’ & ‘responding’ to the customer’s needs.
  3. 3. 1. Customer Orientation 2. Competitive Orientation 3. Ability to respond to Environmental changes.
  4. 4. (a) Consumer Orientation: continuously monitoring customer needs, wants and preferences. E.g., Asian Paints. (b) Integrated approach to Exploiting Market Opportunities: integrate all elements of Marketing Mix, not merely advertising and selling, into a sound business plan. E.g., Maggi noodles. (c) Futuristic Approach: money spent on above mentioned tasks are not as expenditure but as investments, to reap profits later. Investment in Market Share development.
  5. 5. (d) Highly Developed Marketing Systems: all major marketing decisions are taken on the basis of market information emerging from the developed marketing systems. (e) Marketing Culture: the customer is given key importance and, accordingly, his interests override organizational interests. E.g., Windsor Manor- Hospitality Industry. (f) Speed: speed at which the customer’s problems are solved.
  6. 6. • Selling approach is more transaction based. • Selling approach generally, undermines the research. • E.g., Hindustan Motors and Premier Automobiles are the classic cases of selling concept. • Marketing is emphasized on customer management. • Customer is the focal point of the marketing orientations. • Ultimate aim here is to maximize profits through increased customer satisfaction. • E.g., Maruti in 1984.
  7. 7. • Relationship Marketing emphasizes aspects of product reliability, • use of interactive technologies, • retail stores, • human interactions and thereby work on dependability issues among salespersons, service personnel, intermediaries and so forth. • The underpinning of Relationship Marketing is CUSTOMER LOYALTY.
  8. 8. Customer Finance R & D PersonnelIT Production Marketing
  9. 9. • The concept of Marketing Mix involves a deliberate and careful choice of strategies and policies for org's, product, price, place and promotion. • The Task of Marketing Manager is to develop the most appropriate and creative marketing mix for his organization. • E.g., HMV loosing its share to T-series.
  10. 10. Target Customer Place Product Price Promotion Government Policy Technology External Environment Socio- economic factors Taxes & Tariffs Competition Political Factors
  11. 11. • Entrepreneurial Marketing- often characterized by high risk taking and innovative way to reach out to the customers. E.g., Reliance in its textile fabrics under the brand Vimal. • Formulated Marketing- is research centric and well planned. Firms spend money on advertising, sales persons, marketing research, and product planning. • Intrapreneurial Marketing- firms pushing their managers to understand the consumers and improve their lifestyle, or add value to their lives. E.g., HUL.
  12. 12. • Non Profit Marketing- propagating non profit causes like- family planning, child care, immunization, abolition of child marriages, etc. • Cause Marketing- implies marketing skills to effect social changes which would benefit the individual and the society. E.g., Tata Tea’s ‘Jaago Re’, P & G’s Project Drishti (supported by Brand Whisper), save Tiger campaign, etc.
  13. 13. • You have been hired by a Five Star deluxe hotel in Goa. This hotel has been experiencing uneven demand for its facilities. The management has asked you to develop a marketing plan to even out this demand.

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