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Final marketing ppt 1


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Final marketing ppt 1

  1. 1. Concept, Tools & Retention
  2. 2. A market is any place or body where the sellers of a particular good or service can meet with the buyers of that goods and service where there is a potential for a transaction to take place. The buyers must have something they can offer in exchange for there to be a potential transaction.
  3. 3. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
  4. 4. Thus Marketing concept is the way of life in which all the resources of an organization are mobilized to create, stimulate and satisfy the consumer at a profit. Marketing concept is 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.
  5. 5. The marketing concept rests on four pillars:  A) Target market,  B) Customer needs,  C) Integrated marketing, and  D) Profitability.
  6. 6. TARGET MARKET No company can operate in every market and satisfy every need. Nor can it always do a good job within one broad market.
  7. 7. Customer needs Marketing is about meeting needs of target markets profitably. The key to professional marketing is to understand their customers’ real needs and meet them better than any competitor can.
  8. 8. INTEGRATED MARKETING When all the departments of company work together to serve the customer’s interests, the result is integrated marketing. Integrated marketing takes on two levels.  First, the various marketing functions-sales force, advertising, product management, marketing research, and so on – must work together.  Second must be well coordinated with other departments of company.
  9. 9. PROFITABILITY  The ultimate purpose of the marketing concept is to help organizations achieve their goals. In the case of private firms, the major goal is profit. Marketing managers have to provide value to the customer and profits to the organization. Marketing managers have to evaluate the profitability of all alternative marketing strategies and decisions and choose most profitable decisions for long-term survival and growth of the firm
  10. 10. 5 Marketing Concepts Marketing philosophy/concepts has their evolution with the industrial revolutions in mid 19th Century and undergone to various changes and modifications from that time to modern marketing era. Some of famous marketing philosophies are –  Production Orientation Philosophy  Product Orientation Philosophy  Sales Orientation Philosophy  Customer Orientation Philosophy  Social Orientation Philosophy
  11. 11. Marketing Tools are the techniques and materials used by those who are involved in the promotion of goods and services. Most business that need to sell their goo ds or services to the public will make extensive use of various marketing tools, such as market research and advertising to help further their success.
  12. 12.  Marketplace,  Market space,  Marketers and Prospects  Needs, Wants, and Demands  Products  Offers  Brand Value  Customer Satisfaction  Advertisement  Internet  Research & Development Some Important Marketing Tools
  13. 13.  Customer retention is about keeping the customers you’ve invested in to acquire.  Customer retention and customer retention marketing are key components in maintaining a profitable business. The goal of customer retention marketing is to convert first-time or occasional buyers into loyal, long term customers. And to accomplish this, a business needs to understand what it is that converts the occasional or first-time buyer into a loyal customer. Through customer retention marketing, businesses are able to uncover what it is that makes this conversion happen.
  14. 14. Customer Retention Diagram
  15. 15. TOP 5 CUSTOMER RETENTION MARKETING TACTICS  A) Regular Communication with Customized Content and Special Offers. E.g. Big Bazar, Nilgiri’s Strargy  B) Customer service e.g. Lenovo , LG, Samsung, Soni  C) Listen (and then talk) e.g. Twitter, AOC, LIC, TATA group
  16. 16.  D) Loyalty programs, appreciation awards and customer referral rewards e.g. Software companies like pentacle softwares, Microsoft etc.  E) Bring Your Customers Together e. g. custom social networks, face book or LinkedIn groups, etc