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Introduction to Service Marketing in Infrastructure Services


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Introduction to Service Marketing in Infrastructure Services

  1. 1. Introduction to Infrastructure Marketing Introduction to Marketing MBA~ IM – VTU
  2. 2. Introduction to Infrastructure Marketing What Is Marketing? Simple definition: “Marketing is the management process responsible for identifying, anticipating, and satisfying customer requirements profitably.” (CIM,2001) Goals: 1. Attract new customers by promising superior value. 2. Keep and grow current customers by delivering satisfaction. MBA~ IM – VTU
  3. 3. Introduction to Infrastructure Marketing Marketing Defined • Marketing is the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. OLD view of marketing: Making a sale—“telling and selling” NEW view of marketing: Satisfying customer needs MBA~ IM – VTU
  4. 4. Introduction to Infrastructure Marketing Customer Value and beneficial relationship Defining the term Marketing Creating Value Product Place Exchange A B Price Delivering Value Promotion Communicatin g value MBA~ IM – VTU
  5. 5. Introduction to Infrastructure Marketing Why is Marketing Important? Shifting Business Paradigms Buyers’ markets Sellers’ markets MBA~ IM – VTU
  6. 6. Introduction to Infrastructure Marketing The Marketing Process A simple model of the marketing process: • Understand the marketplace and customer needs and wants. • Design a customer-driven marketing strategy. • Construct an integrated marketing program that delivers superior value. • Build profitable relationships and create customer delight. • Capture value from customers to create profits and customer quality. MBA~ IM – VTU
  7. 7. Introduction to Infrastructure Marketing Marketing Management philosophies Describe four marketing management philosophies Orientation Focus Production What can we make or do best? Sales How can we sell more aggressively? Marketing What do customers want and need? Societal What do customers want and need, and how can we benefit society? MBA~ IM – VTU
  8. 8. Introduction to Infrastructure Marketing Needs, Wants, and Demands Need: State of felt deprivation including physical, social, and individual needs. • Physical needs: Food, clothing, shelter, safety • Social needs: Belonging, affection • Individual needs: Learning, knowledge, self-expression Want: Form that a human need takes, as shaped by culture and individual personality. • Wants + Buying Power = Demand MBA~ IM – VTU
  9. 9. Introduction to Infrastructure Marketing Need/ Want Fulfillment Needs & wants are fulfilled through a Marketing Offering: • Products: – Persons, places, organizations, information, ideas. • Services: – Activity or benefit offered for sale that is essentially intangible and does not result in ownership. • Experiences: – Consumers live the offering. MBA~ IM – VTU
  10. 10. Introduction to Infrastructure Marketing Customer Value and Satisfaction Dependent on the product’s perceived performance relative to a buyer’s expectations. Care must be taken when setting expectations: • If performance is lower than expectations, satisfaction is low. • If performance is higher than expectations, satisfaction is high. Customer satisfaction often leads to consumer loyalty. Some firms seek to DELIGHT customers by exceeding expectations. MBA~ IM – VTU
  11. 11. Introduction to Infrastructure Marketing Marketing Management The art and science of choosing target markets and building profitable relationships with them. • Requires that consumers and the marketplace be fully understood. • Aim is to find, attract, keep, and grow customers by creating, delivering, and communicating superior value. MBA~ IM – VTU
  12. 12. Introduction to Infrastructure Marketing Marketing Management Marketing managers must consider the following, to ensure a successful marketing strategy: 1. What customers will we serve? — What is our target market? 2. How can we best serve these customers? — What is our value proposition? MBA~ IM – VTU
  13. 13. Introduction to Infrastructure Marketing Choosing a Value Proposition The set of benefits or values a company promises to deliver to consumers to satisfy their needs. • Value propositions dictate how firms will differentiate and position their brands in the marketplace. MBA~ IM – VTU
  14. 14. Introduction to Infrastructure Marketing The Marketing Concept The marketing concept: “A marketing management philosophy that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors” MBA~ IM – VTU
  15. 15. Introduction to Infrastructure Marketing Customer Perceived Value Customer perceived value: – “Customer’s evaluation of the difference between all of the benefits and all of the costs of a marketing offer relative to those of competing offers.” (Armstrong & Kotler) – Perceptions may be subjective – Consumers often do not objectively judge values and costs. Customer value = perceived benefits – perceived sacrifice. MBA~ IM – VTU
  16. 16. Introduction to Infrastructure Marketing The Marketing Mix The set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market. • Product: Variety, features, brand name, quality, design, packaging, and services. • Price: List price, discounts, allowances, payment period, and credit terms. • Place: Distribution channels, coverage, logistics, locations, transportation, assortments, and inventory. • Promotion: Advertising, sales promotion, public relations, and personal selling. MBA~ IM – VTU
  17. 17. Introduction to Infrastructure Marketing Infrastructure Projects Marketing Point of View MBA~ IM – VTU
  18. 18. Introduction to Infrastructure Marketing Few examples of Infrastructure Projects • Airport projects • METRO RAIL projects • Ports • SEZ’s • Roads (High ways, Expressways, corridors) • Urban Services & PURA • Integrated Townships and leisure's • Telecom Projects MBA~ IM – VTU
  19. 19. Introduction to Infrastructure Marketing Thank You Continue in next class……. MBA~ IM – VTU