This document outlines the process for procuring goods and services for institutional and government markets. It involves a bidding process where contracts are typically awarded to the lowest bidder, though quality may also be considered. The spending decisions are subject to public scrutiny, which can lead to delays and shifts in personnel. The procedures must also meet legal requirements and involve announcing a request for prequalification, shortlisting bidders, and evaluating technical and commercial bids.
How do business buyers make their decisions?Sameer Mathur
The business buying process involves several key steps:
1) Problem recognition, where a need within the company is identified that an external good or service could fulfill.
2) Determining general product specifications and requirements to address the need.
3) Identifying potential suppliers through directories, references, advertisements, and online research.
4) Soliciting proposals from qualified suppliers and selecting finalists to make presentations.
How do institutional buyers and government agencies do their buying Sameer Mathur
Institutional markets like governments are major buyers of goods and services, typically requiring suppliers to submit bids where the contract is often awarded to the lowest bidder. Considerable paperwork is required from suppliers as government procedures are elaborate and must meet legal requirements, sometimes floating global tenders for large complex projects that involve major R&D costs and risks and are negotiated instead of awarded solely based on price.
How do institutional buyers and government agencies do their buying?Sameer Mathur
this presentation is based on the question "How do institutional buyers and government agencies do their buying?" as given in south asian perspective of marketing management by kotler and keller.
How do business buyers make their decisionSameer Mathur
The business buying decision process involves 8 stages: 1) recognizing a problem or need, 2) describing general product characteristics, 3) developing technical specifications, 4) searching for suppliers through various sources, 5) soliciting proposals from qualified suppliers, 6) selecting suppliers by evaluating them on key criteria, 7) negotiating final order details, and 8) periodically reviewing supplier performance.
6.6)How do institutional buyers & government agencies do their buying?114iiminternship
Institutional markets consist of organizations like schools, hospitals, and prisons that must provide goods and services to people in their care. They have low budgets and captive clientele. Hospitals must decide on food quality for patients.
Government markets are a major buyer of goods and services. Suppliers submit bids and contracts are normally awarded to the lowest bidder, but quality or reputation may also be considered. Complex projects involving research are negotiated. The process of awarding government work includes announcing requests, shortlisting bidders, and evaluating technical and commercial bids.
How do business buyers make their decisionSameer Mathur
The buying process begins with a company recognizing a need that can be met through acquiring a good or service. The buyer then determines general characteristics and requirements and solicits proposals from suppliers. The buying center specifies desired supplier attributes, selects the best supplier, and negotiates the final order details. The buyer periodically reviews supplier performance and may continue, modify, or end the relationship based on reviews.
The document discusses factors that influence consumer behavior, including cultural, social, personal, and motivational factors. It also outlines the consumer buying process, which begins with problem recognition and need identification, followed by information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Various consumer decision-making theories are also mentioned, as well as business buying processes and the roles of different participants in organizational purchases.
This document outlines the process for procuring goods and services for institutional and government markets. It involves a bidding process where contracts are typically awarded to the lowest bidder, though quality may also be considered. The spending decisions are subject to public scrutiny, which can lead to delays and shifts in personnel. The procedures must also meet legal requirements and involve announcing a request for prequalification, shortlisting bidders, and evaluating technical and commercial bids.
How do business buyers make their decisions?Sameer Mathur
The business buying process involves several key steps:
1) Problem recognition, where a need within the company is identified that an external good or service could fulfill.
2) Determining general product specifications and requirements to address the need.
3) Identifying potential suppliers through directories, references, advertisements, and online research.
4) Soliciting proposals from qualified suppliers and selecting finalists to make presentations.
How do institutional buyers and government agencies do their buying Sameer Mathur
Institutional markets like governments are major buyers of goods and services, typically requiring suppliers to submit bids where the contract is often awarded to the lowest bidder. Considerable paperwork is required from suppliers as government procedures are elaborate and must meet legal requirements, sometimes floating global tenders for large complex projects that involve major R&D costs and risks and are negotiated instead of awarded solely based on price.
How do institutional buyers and government agencies do their buying?Sameer Mathur
this presentation is based on the question "How do institutional buyers and government agencies do their buying?" as given in south asian perspective of marketing management by kotler and keller.
How do business buyers make their decisionSameer Mathur
The business buying decision process involves 8 stages: 1) recognizing a problem or need, 2) describing general product characteristics, 3) developing technical specifications, 4) searching for suppliers through various sources, 5) soliciting proposals from qualified suppliers, 6) selecting suppliers by evaluating them on key criteria, 7) negotiating final order details, and 8) periodically reviewing supplier performance.
6.6)How do institutional buyers & government agencies do their buying?114iiminternship
Institutional markets consist of organizations like schools, hospitals, and prisons that must provide goods and services to people in their care. They have low budgets and captive clientele. Hospitals must decide on food quality for patients.
Government markets are a major buyer of goods and services. Suppliers submit bids and contracts are normally awarded to the lowest bidder, but quality or reputation may also be considered. Complex projects involving research are negotiated. The process of awarding government work includes announcing requests, shortlisting bidders, and evaluating technical and commercial bids.
How do business buyers make their decisionSameer Mathur
The buying process begins with a company recognizing a need that can be met through acquiring a good or service. The buyer then determines general characteristics and requirements and solicits proposals from suppliers. The buying center specifies desired supplier attributes, selects the best supplier, and negotiates the final order details. The buyer periodically reviews supplier performance and may continue, modify, or end the relationship based on reviews.
The document discusses factors that influence consumer behavior, including cultural, social, personal, and motivational factors. It also outlines the consumer buying process, which begins with problem recognition and need identification, followed by information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Various consumer decision-making theories are also mentioned, as well as business buying processes and the roles of different participants in organizational purchases.
How can companies build strong relationships with business customerSameer Mathur
The document discusses how companies can build strong relationships with business customers. It identifies four forces that influence relationships between business partners: availability of alternatives, importance of supply, complexity of supply, and supply market dynamism. It also categorizes buyer-supplier relationships into eight categories ranging from basic buying and selling to mutually adaptive relationships, with higher levels of cooperation, trust, and adaptation indicating stronger relationships.
6.5)How can companies build strong relationships with business customers?114iiminternship
This document discusses managing business-to-business customer relationships and the benefits of vertical coordination between buyers and sellers. It describes how closer relationships are driven by supply chain management and purchasing alliances. It also discusses the categories used to classify buyer-supplier relationships, from basic transactions to collaborative partnerships. The document notes that while vertical coordination can strengthen ties, it may also increase risks and opportunism that need to be mitigated. New technologies allow top firms to more effectively engage and communicate with their business customers.
This document discusses various institutional innovations that have been implemented in Indian agricultural markets following domestic market reforms. It describes initiatives like contract farming, farmer producer organizations, private markets, direct purchase centers, warehouse receipts, ICT use for market intelligence, and e-NAM - a national agricultural market platform. While many of these provided benefits like higher prices and technology adoption for farmers, some tended to exclude small farmers and the gains were often appropriated by processing firms. Successful initiatives like direct purchase centers and e-mandi/e-NAM platforms in Karnataka improved price discovery and reduced trader collusion. Overall, continued reforms along with infrastructure development and credit linkage are needed to better support Indian farmers.
How do institutional buyers and government agencies do their buyingSameer Mathur
Institutional buyers and government agencies form decision-making units or committees to identify needs and wants. They then ask suppliers to submit bids for contracts and often award the contract to the lowest bidder. Large government projects may also float global tenders to receive bids from international suppliers.
This document discusses government and institutional projects. It appears to be a presentation or proposal related to providing services for various government and institutional organizations. The document suggests it will cover multiple government and institutional clients and projects that the organization supports.
What buying situations do organizational buyers faceSameer Mathur
Organizational buyers face different purchase situations depending on complexity, requirements, number of people involved, and time. There are three main buying situations: straight rebuy which is routine reordering from an approved supplier list; modified rebuy where buyers want to change specifications or terms; and new task which involves purchasing a new product or service for the first time and passing through awareness, interest, evaluation, trial, and adoption stages with different information sources most useful at each stage.
Who participates in the business to-business buying process?Sameer Mathur
There are typically several participants involved in business-to-business purchasing decisions including initiators who request a purchase, users of the product or service, influencers who help define specifications and provide evaluation information, deciders who determine requirements or select suppliers, approvers who authorize decider's proposed actions, buyers who formally select suppliers and negotiate terms, and gatekeepers who can prevent sellers from engaging other participants.
What is the business market, and how does it differ from the consumer marketSameer Mathur
Business markets involve fewer but larger buyers who purchase raw materials and components for resale or manufacturing. Close supplier-customer relationships are important as purchases are made by trained agents following organizational policies. Buying committees consisting of technical and senior management experts commonly influence major purchases through a long sales cycle sometimes lasting years. Demand for business goods is ultimately derived from consumer demand and tends to be inelastic but fluctuating based on consumer demand levels.
Assessment of socio-economic, institutional and political constraints and opp...RiceAdvice
Assessment of socio-economic, institutional and political constraints and opportunities for RiceAdvice scaling out and up. By: Espérance ZOSSOU. IS/IP Specialist, AfricaRice
Organisational buying decisions are influenced by environmental, organisational, and individual variables. Environmental variables refer to external factors outside the control of the buying organisation like economic conditions, technology, competition, and government regulations. Organisational variables relate to internal characteristics of the buying firm such as size, structure, and policies. Buying centre variables pertain to the people and dynamics within a buying group that evaluates potential purchases.
What major psychological processes influence consumer responses to the market...Sameer Mathur
This document discusses psychological processes that influence responses to marketing programs, including motivation, perception, learning, and memory. It analyzes theories of motivation from Freud, Maslow, and Herzberg. It describes perception as a selective process of attention, distortion, and retention. Learning is defined as changes in behavior from experiences. Memory has two parts - short term and long term. Associative network memory connects nodes of information through links.
1) Organizations should invest adequate time and resources to fully understand customer requirements, which may change over time, rather than trying to save resources.
2) In service industries, requirements are often expressed subjectively rather than objectively, so ensuring customer satisfaction is important. Requirements are also commonly discussed orally between customers and service providers.
3) Organizations should have documented policies and checklists to clarify requirements, review contracts, handle conflicts, and foresee potential amendments to agreements.
This document discusses customer handling and its importance for businesses. Customer handling involves understanding customer needs, fulfilling their requirements through regular interaction and excellent service. It aims to establish long-term, one-to-one relationships with customers rather than just expanding the customer base. This helps with customer retention, loyalty, repeated business and better price negotiations. The key to good customer handling is delivering excellent basic service while also building strong relationships and creating competitive differentiation to provide excellent customer experiences and achieve business goals.
Institutional efforts and role of government in developing enterprenuership -...sksbatish
Entrepreneurial development programmes - as conducted by government and the governmental role in developing future entrepreneur
includes the various institutions started by govt. for development and conduct of EDP's with the aim of developing self employed to help in the progress of the country.
This document discusses organizational buying behavior in business-to-business contexts. It describes the differences between consumer and organizational buying processes. Organizational buying involves multiple people and stages, including problem recognition, specification, supplier search, selection, and review. Key roles in organizational procurement include buyers, users, initiators, gatekeepers, influencers, and deciders. The document outlines factors that influence organizational buying behavior such as product type, risks, and complex buying centers. It also discusses considerations for B2B marketing including long decision times, high risks, flexibility, and technical knowledge.
The document summarizes key points from Seth Godin's book "Purple Cow" about creating remarkable products. The book introduces the concept of a "Purple Cow", which is a product or service that is remarkable and stands out. It argues traditional marketing is no longer effective and companies must create Purple Cows to attract attention in today's crowded marketplace. Some key steps to developing a Purple Cow include targeting a niche, finding influencers to spread ideas, continually innovating new products, and having the courage to take risks.
1. A neuromarketing study analyzed consumer brain responses to brands through fMRI scans. It found that traditional self-reported surveys did not accurately predict purchase behaviors, as emotional brain regions still encouraged smoking despite claimed intentions to quit.
2. An experiment analyzed brand memory from viewers of the TV show American Idol. It found Coca-Cola placements within the show were best remembered, while Ford commercials saw reduced recall from lack of integration. This highlighted how emotionally engaging placements boost brand memory over disconnected ads.
3. Neuromarketing techniques can better predict consumer actions by understanding unconscious emotional brain responses that often contradict rational thinking. Well-integrated product placements that engage emotional regions are more effective than
Integrated Marketing Communications to Build Brand EquitySameer Mathur
This document discusses integrated marketing communications and how companies can use various communication channels like advertising, promotions, public relations, and personal selling in a coordinated way to build brand equity. It defines these different promotional tools and marketing communication options and emphasizes the importance of delivering consistent messaging across channels to avoid confusing customers. The document is authored by Prof. Sameer Mathur and provides an overview of integrated marketing communications.
This document discusses sales promotion. It targets consumers, retailers, and sales forces with short-term sales, product trials, trade promotions, and commissions. The types of promotions include coupons, deals, sweepstakes, samples, loyalty programs, mail-in rebates, and product placements. The twelve objectives of promotions are to increase volume, trial, repeat purchase, loyalty, usage, awareness, deflect attention from price, gain intermediary support, discriminate among users, restore brand perceptions, and retain brand perception after service failures.
The document discusses integrated marketing communications (IMC). IMC is the concept where a company carefully integrates and coordinates its various communication channels, like advertising, sales promotion, public relations, etc. to deliver a consistent message about the organization and its products. The document then covers topics like the promotional mix, communication process, and three reasons for adopting an IMC approach including media explosion, consumers taking more control, and branding becoming increasingly important.
This document discusses brand positioning and provides guidance on how to define and communicate a brand's competitive frame of reference and choose points of parity and points of difference. It defines brand positioning as designing a company's offer and image to occupy a distinct place in customers' minds. The document outlines determining the target consumer, main competitors, similarities to competitors, and differences from competitors to set the frame of reference. It advises choosing points of parity and points of difference based on desirability from the consumer perspective and deliverability from the firm perspective.
This document discusses brand mantras and core brand values. It is authored by Prof. Sameer Mathur, who has a Ph.D. and M.S. in Marketing from the Indian Institute of Management, Lucknow. The document defines core brand values as concepts or phrases that characterize the most important dimensions of a brand's mental map. It also defines brand mantras as short three- to five-word phrases that capture the essence or spirit of a brand's positioning and values. The document provides guidance on designing an effective brand mantra using a descriptive modifier, brand function, and emotional modifier.
How can companies build strong relationships with business customerSameer Mathur
The document discusses how companies can build strong relationships with business customers. It identifies four forces that influence relationships between business partners: availability of alternatives, importance of supply, complexity of supply, and supply market dynamism. It also categorizes buyer-supplier relationships into eight categories ranging from basic buying and selling to mutually adaptive relationships, with higher levels of cooperation, trust, and adaptation indicating stronger relationships.
6.5)How can companies build strong relationships with business customers?114iiminternship
This document discusses managing business-to-business customer relationships and the benefits of vertical coordination between buyers and sellers. It describes how closer relationships are driven by supply chain management and purchasing alliances. It also discusses the categories used to classify buyer-supplier relationships, from basic transactions to collaborative partnerships. The document notes that while vertical coordination can strengthen ties, it may also increase risks and opportunism that need to be mitigated. New technologies allow top firms to more effectively engage and communicate with their business customers.
This document discusses various institutional innovations that have been implemented in Indian agricultural markets following domestic market reforms. It describes initiatives like contract farming, farmer producer organizations, private markets, direct purchase centers, warehouse receipts, ICT use for market intelligence, and e-NAM - a national agricultural market platform. While many of these provided benefits like higher prices and technology adoption for farmers, some tended to exclude small farmers and the gains were often appropriated by processing firms. Successful initiatives like direct purchase centers and e-mandi/e-NAM platforms in Karnataka improved price discovery and reduced trader collusion. Overall, continued reforms along with infrastructure development and credit linkage are needed to better support Indian farmers.
How do institutional buyers and government agencies do their buyingSameer Mathur
Institutional buyers and government agencies form decision-making units or committees to identify needs and wants. They then ask suppliers to submit bids for contracts and often award the contract to the lowest bidder. Large government projects may also float global tenders to receive bids from international suppliers.
This document discusses government and institutional projects. It appears to be a presentation or proposal related to providing services for various government and institutional organizations. The document suggests it will cover multiple government and institutional clients and projects that the organization supports.
What buying situations do organizational buyers faceSameer Mathur
Organizational buyers face different purchase situations depending on complexity, requirements, number of people involved, and time. There are three main buying situations: straight rebuy which is routine reordering from an approved supplier list; modified rebuy where buyers want to change specifications or terms; and new task which involves purchasing a new product or service for the first time and passing through awareness, interest, evaluation, trial, and adoption stages with different information sources most useful at each stage.
Who participates in the business to-business buying process?Sameer Mathur
There are typically several participants involved in business-to-business purchasing decisions including initiators who request a purchase, users of the product or service, influencers who help define specifications and provide evaluation information, deciders who determine requirements or select suppliers, approvers who authorize decider's proposed actions, buyers who formally select suppliers and negotiate terms, and gatekeepers who can prevent sellers from engaging other participants.
What is the business market, and how does it differ from the consumer marketSameer Mathur
Business markets involve fewer but larger buyers who purchase raw materials and components for resale or manufacturing. Close supplier-customer relationships are important as purchases are made by trained agents following organizational policies. Buying committees consisting of technical and senior management experts commonly influence major purchases through a long sales cycle sometimes lasting years. Demand for business goods is ultimately derived from consumer demand and tends to be inelastic but fluctuating based on consumer demand levels.
Assessment of socio-economic, institutional and political constraints and opp...RiceAdvice
Assessment of socio-economic, institutional and political constraints and opportunities for RiceAdvice scaling out and up. By: Espérance ZOSSOU. IS/IP Specialist, AfricaRice
Organisational buying decisions are influenced by environmental, organisational, and individual variables. Environmental variables refer to external factors outside the control of the buying organisation like economic conditions, technology, competition, and government regulations. Organisational variables relate to internal characteristics of the buying firm such as size, structure, and policies. Buying centre variables pertain to the people and dynamics within a buying group that evaluates potential purchases.
What major psychological processes influence consumer responses to the market...Sameer Mathur
This document discusses psychological processes that influence responses to marketing programs, including motivation, perception, learning, and memory. It analyzes theories of motivation from Freud, Maslow, and Herzberg. It describes perception as a selective process of attention, distortion, and retention. Learning is defined as changes in behavior from experiences. Memory has two parts - short term and long term. Associative network memory connects nodes of information through links.
1) Organizations should invest adequate time and resources to fully understand customer requirements, which may change over time, rather than trying to save resources.
2) In service industries, requirements are often expressed subjectively rather than objectively, so ensuring customer satisfaction is important. Requirements are also commonly discussed orally between customers and service providers.
3) Organizations should have documented policies and checklists to clarify requirements, review contracts, handle conflicts, and foresee potential amendments to agreements.
This document discusses customer handling and its importance for businesses. Customer handling involves understanding customer needs, fulfilling their requirements through regular interaction and excellent service. It aims to establish long-term, one-to-one relationships with customers rather than just expanding the customer base. This helps with customer retention, loyalty, repeated business and better price negotiations. The key to good customer handling is delivering excellent basic service while also building strong relationships and creating competitive differentiation to provide excellent customer experiences and achieve business goals.
Institutional efforts and role of government in developing enterprenuership -...sksbatish
Entrepreneurial development programmes - as conducted by government and the governmental role in developing future entrepreneur
includes the various institutions started by govt. for development and conduct of EDP's with the aim of developing self employed to help in the progress of the country.
This document discusses organizational buying behavior in business-to-business contexts. It describes the differences between consumer and organizational buying processes. Organizational buying involves multiple people and stages, including problem recognition, specification, supplier search, selection, and review. Key roles in organizational procurement include buyers, users, initiators, gatekeepers, influencers, and deciders. The document outlines factors that influence organizational buying behavior such as product type, risks, and complex buying centers. It also discusses considerations for B2B marketing including long decision times, high risks, flexibility, and technical knowledge.
The document summarizes key points from Seth Godin's book "Purple Cow" about creating remarkable products. The book introduces the concept of a "Purple Cow", which is a product or service that is remarkable and stands out. It argues traditional marketing is no longer effective and companies must create Purple Cows to attract attention in today's crowded marketplace. Some key steps to developing a Purple Cow include targeting a niche, finding influencers to spread ideas, continually innovating new products, and having the courage to take risks.
1. A neuromarketing study analyzed consumer brain responses to brands through fMRI scans. It found that traditional self-reported surveys did not accurately predict purchase behaviors, as emotional brain regions still encouraged smoking despite claimed intentions to quit.
2. An experiment analyzed brand memory from viewers of the TV show American Idol. It found Coca-Cola placements within the show were best remembered, while Ford commercials saw reduced recall from lack of integration. This highlighted how emotionally engaging placements boost brand memory over disconnected ads.
3. Neuromarketing techniques can better predict consumer actions by understanding unconscious emotional brain responses that often contradict rational thinking. Well-integrated product placements that engage emotional regions are more effective than
Integrated Marketing Communications to Build Brand EquitySameer Mathur
This document discusses integrated marketing communications and how companies can use various communication channels like advertising, promotions, public relations, and personal selling in a coordinated way to build brand equity. It defines these different promotional tools and marketing communication options and emphasizes the importance of delivering consistent messaging across channels to avoid confusing customers. The document is authored by Prof. Sameer Mathur and provides an overview of integrated marketing communications.
This document discusses sales promotion. It targets consumers, retailers, and sales forces with short-term sales, product trials, trade promotions, and commissions. The types of promotions include coupons, deals, sweepstakes, samples, loyalty programs, mail-in rebates, and product placements. The twelve objectives of promotions are to increase volume, trial, repeat purchase, loyalty, usage, awareness, deflect attention from price, gain intermediary support, discriminate among users, restore brand perceptions, and retain brand perception after service failures.
The document discusses integrated marketing communications (IMC). IMC is the concept where a company carefully integrates and coordinates its various communication channels, like advertising, sales promotion, public relations, etc. to deliver a consistent message about the organization and its products. The document then covers topics like the promotional mix, communication process, and three reasons for adopting an IMC approach including media explosion, consumers taking more control, and branding becoming increasingly important.
This document discusses brand positioning and provides guidance on how to define and communicate a brand's competitive frame of reference and choose points of parity and points of difference. It defines brand positioning as designing a company's offer and image to occupy a distinct place in customers' minds. The document outlines determining the target consumer, main competitors, similarities to competitors, and differences from competitors to set the frame of reference. It advises choosing points of parity and points of difference based on desirability from the consumer perspective and deliverability from the firm perspective.
This document discusses brand mantras and core brand values. It is authored by Prof. Sameer Mathur, who has a Ph.D. and M.S. in Marketing from the Indian Institute of Management, Lucknow. The document defines core brand values as concepts or phrases that characterize the most important dimensions of a brand's mental map. It also defines brand mantras as short three- to five-word phrases that capture the essence or spirit of a brand's positioning and values. The document provides guidance on designing an effective brand mantra using a descriptive modifier, brand function, and emotional modifier.
This document outlines the 5 crucial steps in a consumer's purchase decision process: 1) problem recognition, where a consumer realizes a problem or need; 2) information search, where the consumer searches internally or externally for information; 3) evaluation of alternatives, where the consumer evaluates different options; 4) purchase decision, where the consumer decides on a purchase; and 5) post-purchase behavior, where the consumer evaluates the purchase decision. The document discusses each step using examples and provides an overview of factors that can influence the consumer decision process.
This document provides 5 definitions of marketing from various sources. It begins with an agenda stating it will outline 5 marketing definitions. It then provides the definitions from the American Marketing Association, The Chartered Institute of Marketing, The Chartered Institute of Marketing, Pearson Education, and Merriam-Webster. The definitions generally portray marketing as involving creating value for customers through product promotion, distribution and sales to meet customer needs profitably.
Marketing is defined as the process of building profitable customer relationships by creating value for customers and capturing value in return. The marketing process involves 5 steps: 1) Understanding customer needs and wants through research; 2) Designing a customer-driven marketing strategy through market segmentation, targeting, and positioning; 3) Constructing a marketing program involving the 4Ps - product, price, place, and promotion; 4) Building profitable relationships with customers and suppliers through relationship management; 5) Capturing value from customers in the form of revenue, profit, loyalty, and market share.
This document summarizes key points from an analysis of online customer reviews and their impact on marketing strategies. It discusses how customers now rely on online reviews rather than just marketing messages. Companies need to shift strategies to account for customer influence and understand where their products fall on the online influence continuum. Analyzing customer segments and tailoring strategies accordingly is important. Positive reviews can boost brands while negative reviews hurt them, so companies must monitor reviews and address issues. A case study found online real estate reviews significantly impacted customer decisions.
The document summarizes Nancy Duarte's key insights from her presentation in the LinkedIn Speaker Series. Duarte discussed important concepts for communicators such as resonance, ideas, and the pattern of contrasting the present with the future that successful storytellers employ. The document then analyzes famous speeches from various influential figures throughout history and finds they all effectively drew contrasts between "what is" and "what could be" to motivate and inspire their audiences.
How do we define and classify services, and how do they differ from goodsSameer Mathur
This document summarizes how services differ from goods and how they can be classified. It outlines six ways that services can be classified, such as by equipment versus people-based delivery or for-profit versus non-profit objectives. The key differences between services and physical goods are discussed as well, noting that services are intangible, inseparable, can vary in quality, and are perishable if not provided at the right place and time. The document was prepared by Kartik Singla as part of an internship.
Managing customer expectations and incorporating self-service technologies are two key factors that help improve service quality. Managing expectations involves understanding how customers form expectations from past experiences and communications. Any marketing that aims to close gaps between customer expectations and service delivery can strengthen relationships. Incorporating self-service technologies provides convenience for customers, replacing some person-to-person services, but customers must understand their role and see clear benefits from technologies they can actually use.
How can companies differentiate productsSameer Mathur
Companies can differentiate their products in several ways, including by size, shape, features, customization, performance levels, quality consistency, expected lifespan, probability of malfunction, ease of repair, aesthetics, and appearance. Differentiation allows companies to target specific customer needs and preferences.
Why is product design important and what factors affect a good design?Sameer Mathur
This document discusses the importance of product design and the factors that affect a good design. Well-designed products are easy to manufacture, distribute, and please customers as they are simple to use. Good design involves intensive customer research, creative brainstorming sessions, collaborative teamwork, and design thinking principles. Unique, high-quality designs can differentiate products in the market and are key to luxury brands.
What are the characteristics of products and how do marketers classify products?Sameer Mathur
This document discusses different ways to classify products that marketers use. It defines a product as anything that can satisfy a need and explains that products can be physical goods, services, or ideas. The document then outlines two main ways that marketers classify products: by durability and tangibility as durable goods, nondurable goods, or services, and by use as shopping goods, convenience goods, unsought goods, specialty goods, or industrial goods which are further broken down. It concludes by attributing the source and including a disclaimer.
How can companies combine products to create strong co brands or ingredient b...Sameer Mathur
This document discusses different types of co-branding strategies that companies can use, including company co-branding, joint venture co-branding, retail co-branding, and ingredient branding. It provides examples of how movie makers use co-branding by promoting lead actors together before a movie release. It also explains that ingredient branding involves creating a brand for components within other branded products and discusses how Intel used this strategy successfully.
How can a company build and manage its product mix and product linesSameer Mathur
The document discusses how companies can manage their product mix and product lines. It defines key terms like product mix, product line, depth, width, and consistency. It then explains strategies for managing product lines, including analyzing sales and profits to determine what products to invest in or remove. Companies can also enhance their market profile by positioning their lines against competitors. Other strategies involve line stretching to attract new customer segments and line filling to block out competitors. The document was prepared by Kartik Singla as part of an internship under Prof. Sameer Mathur.
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Top 10 AI Trends to Watch in 2024 with Intelisyncnehapardhi711
As we advance further into the digital age, artificial intelligence (AI) continues to evolve, shaping various industries and aspects of our daily lives. The advancements in AI for 2024 promise significant transformations across multiple sectors. From agentic AI and open-source AI to AI-powered cybersecurity and sustainability, these trends highlight the growing influence of AI on our world. By staying informed and embracing these trends, businesses and individuals can harness the power of AI to innovate and thrive.
This article explores the top 10 AI trends to watch in 2024, providing an overview, impact, and examples of each trend.
Top 10 AI Trends to Watch in 2024
Trend 1: Agentic AI
Overview of Agentic AI
Agentic AI represents a fundamental shift in artificial intelligence. These AI systems are designed to comprehend complex workflows and pursue difficult objectives autonomously, with minimal human assistance. Essentially, agentic AI functions similarly to human employees, understanding intricate contexts and instructions in normal language, defining goals, deducing subtasks, and adapting actions to changing circumstances.
Impact of Agentic AI
Agentic AI has the potential to drastically alter organizational roles, procedures, and relationships. AI assistants with advanced thinking and planning capabilities can perform tasks previously managed by humans. This shift enhances productivity by fully automating complex processes, freeing workers from repetitive tasks to focus on more critical activities. The ability to adapt quickly to changing circumstances ensures continuous operational improvements.
Examples and Use Cases of Agentic AI
Autonomous Vehicles: Self-driving cars use agentic AI to navigate roads, interpret traffic signals, and make real-time decisions to ensure passenger safety.
Smart Home Devices: AI-powered home assistants, like smart thermostats and security systems, operate autonomously to optimize energy usage and enhance security.
Customer Service Bots: Advanced chatbots handle complex customer queries, provide solutions, and escalate issues to human agents when necessary.
Trend 2: Open Source AI
Overview of Open Source AI
Open-source AI involves freely available source code, encouraging developers to collaborate, use, adapt, and share AI technology. This openness fosters innovation and speeds up the development of practical AI solutions across various sectors, including healthcare, finance, and education.
Impact of Open Source AI
The collaborative nature of open-source AI promotes transparency and facilitates continuous improvement, leading to feature-rich, reliable, and modular solutions. These platforms enable the creation of applications such as real-time fraud detection, medical image analysis, personalized recommendations, and customized learning experiences.
Examples and Use Cases of Open Source AI
TensorFlow: An open-source machine learning framework by Google, widely used for building and deploying AI models.
How to Start Affiliate Marketing with ChatGPT- A Step-by-Step Guide (1).pdfSimpleMoneyMaker
Discover the power of affiliate marketing with ChatGPT! This comprehensive guide takes you through the process of starting and scaling your affiliate marketing business using the latest AI technology. Learn how to leverage ChatGPT to generate content ideas, create engaging articles, and connect with your audience through personalized interactions. From building your strategy and optimizing conversions to analyzing performance and staying updated with industry trends, this eBook provides everything you need to know to succeed in affiliate marketing. Whether you're a beginner looking to start your online business or an experienced marketer wanting to take your efforts to the next level, this guide is your roadmap to success in the world of affiliate marketing.
Advanced Storytelling Concepts for MarketersEd Shimp
Every marketer knows you’re supposed to tell a story, but do you know how to tell a story? Do you know why you’re supposed to tell a story? Do you even truly know what a story is? While many marketing presentations emphasize the value of mythic storytelling, the nuts and bolts of actually constructing a story are never explored.
The goal of marketing may be to achieve specific KPIs that drive sales, which is very objective, but the top of the marketing funnel requires a softer approach. In our data-driven results-oriented fast-paced world, marketers must quantify results, but those results will never be achieved unless prospects are first approached with humanity.
There is a common misunderstanding that the so-called “soft skills” of marketing such as language and art are unmeasurable and subjective, but while the objective measures of market research are merely 100 years old, the rules of aesthetics have been perfected over the last 2,500 years.
Great story construction is a skill that requires significant knowledge and practice. This presentation will be a review of the ancient art of story construction.
We will discuss:
• Rhetoric – The art of effective communication
• The Socratic Method – You cannot teach, but you can persuade people to learn
• Plato’s Cave – You sell products, but you market ideas
• Aristotle’s Six Dramatic Elements – The secret recipe for marketing stories
This is for senior marketers who are tasked with creating effective narratives or guiding others in the process. By the end of the session, attendees will have gained the knowledge needed to work storytelling into all phases of the buyer’s journey.
Title: Making Money the Easy Way: A Quick Guide to Generating IncomeWilliamZinsmeister
Welcome to "Making Money the Easy Way: A Quick Guide to Generating Income." This book is designed to provide you with practical, actionable strategies to generate income with minimal effort. Whether you’re looking to supplement your current income or create a full-time revenue stream, this guide covers a variety of methods to help you achieve your financial goals. We will explore opportunities available online, various investment strategies, profitable side hustles, creative approaches, and essential financial tips to ensure sustainable income growth.
3 Best “Add to Calendar” Link Generator Tools (2024)Y
“Add to Calendar” link generator tools allow users to create links that add events directly to digital calendars like Google Calendar, Apple Calendar, and Outlook.
These tools simplify event scheduling by generating short URLs or QR codes that, when clicked or scanned, automatically insert event details into a user’s calendar.
They are ideal for streamlining the promotion of events in emails, websites, and social media, enhancing engagement and ensuring attendees don’t miss important dates.
These tools are designed to cater to diverse needs, from personal event planning to professional event promotion, ensuring your attendees can easily add events to their preferred calendar.
Cal.et is a versatile and user-friendly tool that allows you to create “Add to Calendar” links for seamless event scheduling and promotion.
Why bridging the gap between PR and SEO is the only way forward for PR Profes...Isa Lavs
The lines between PR and SEO are blurring. SEOs are increasingly winning PR briefs by leveraging data and content to secure high-value placements. In this presentation, I explore the merging of PR and SEO, highlighting why SEO specialists are increasingly taking ‘PR’ business. I uncover the hidden SEO potential using PR tactics and discuss how to identify missed opportunities. I'll also offer insights into strategies for converting PR initiatives into successful link-building campaigns.
What is Digital Marketing: A Comprehensive GuideV-tech Marketing
Digital technologies have transformed marketing. Traditional methods like print and TV ads are giving way to digital strategies, reshaping how brands connect with consumers online. Welcome to the era of digital marketing, where engagement in the digital realm is key. Let's delve into what digital marketing entails in our interconnected world.
AI Best Practices for Marketing HUG June 2024Amanda Farrell
During this presentation, the Nextiny marketing team reviews best practices when adopting generative AI into content creation. Join our HUG community to register for more events https://events.hubspot.com/sarasota/
Evaluating the Effectiveness of Women-Focused MarketingHighViz PR
Women centric marketing is a vital part in reaching one of the most influential groups of consumers. Here is a guide to know and measure the impact of women-centric marketing efforts-
How to Generate Add to Calendar Link using Cal.etY
Cal.et is a free tool that helps you create “Add to Calendar” links for your events. It supports popular calendar platforms like Google, Apple, Outlook, Yahoo, and Office365. Users can generate short, shareable URLs, customize event details, and even create QR codes for easy access. It’s ideal for embedding event links in emails, websites, and social media, making it easier for participants to save event information directly to their calendars.
3. DMU
First of all They form a DMU a decision making unit or in plain language;
a committee that draws up a list of wants and needs
4. On Contract basis
Then They asks suppliers to submit bids and often
Award the contract to the lowest bidder
5. Based on Quality and
Reputation
In some cases, they will make allowance for superior
quality or a reputation for completing contracts on time
6. Online
Now a days Web-based catalogs are there that allow
authorized defense and civilian agencies to buy everything
from medical and office supplies to clothing online
7. Summary
The institutional market consists of schools,
hospitals, nursing homes, prisons, and other
institutions that provide goods and services to
people in their care. Buyers for government
organizations tend to require a great deal of
paperwork from their vendors and to favor
open bidding and domestic companies.
Suppliers must be prepared to adapt their
offers to the special needs and procedures
found in institutional and government markets
8. Credit
KOTLER, P. & KELLER, K. 2011. Marketing
Management 14th Edition,Upper Saddle River,
NJ, Prentice Hall(With due thanks to the owners
of Photographs)