This document provides an introduction to marketing concepts. It discusses definitions of marketing, the evolution of marketing thought from a production to a customer orientation, and key concepts including needs, products/services, value, exchange, and markets. It describes the modern marketing concept with its focus on target markets, customer needs, integrated marketing, and profitability through customer satisfaction. Relationship marketing is discussed as an extension focusing on building and maintaining profitable customer relationships.
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Use shopper insights to make better merchandising decisions
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2. PREVIEW
ļ¢ Discuss what is marketing and core concepts of
marketing and review some possible definitions
ļ¢ See the evolution of marketing thought and discuss
various orientations toward marketplace
ļ¢ Focus on modern marketing concept, identify four pillars
of modern marketing
ļ¢ Describe 4Ps of marketing, as elements of total marketing
mix
ļ¢ Discuss modern marketing concept comparing it with
selling concept and extending it with relationship
marketing concept
3. INTRODUCTÄ°ON TO MARKETÄ°NG
Marketing;
ļ āSatisfying
customer needsā
ļ āMeeting needs profitablyā
ļ āGenerating customer value at a profitā
ļ¢ āManaging profitable customer relationships by delivering superior value to
customersā
4. WHAT Ä°S MARKETÄ°NG?
ļ¢ No single correct definition or approach
ļ¢ Common subject matters:
ļ The ability to satisfy customers,
ļ The identification of favorable marketing opportunities,
ļ The need to create an edge over competitors,
ļ The capacity to make profits to enable a viable future for the
organization,
ļ The use of resources to maximize a businessā market position,
ļ The aim to increase market share mainly in target markets
5. MARKETÄ°NG PROCESS
Capture
value from
Create value for customers and customers
build customer relationships in return
Capture
Capture
Understand
Understand Design aa Construct aa Build value from
value from
Design Construct Build
the
the customer- marketing profitable customers
customers
customer- marketing profitable
marketplace
marketplace driven program that relationships to create
to create
driven program that relationships
and customer
and customer marketing delivers and create profits and
profits and
marketing delivers and create
needs&wants
needs&wants strategy superior customer customer
customer
strategy superior customer
value delight quality
quality
value delight
6. CORE CONCEPTS OF MARKETING
Needs, wants,
and demands
Markets Products
and services
Exchange,
Value and
transactions,
satisfaction
and relationships
7. CORE CONCEPTS OF MARKETING
ļ¢ Need
ļ¢ Needs, wants, and demands ļ Basic human requirements
ļ¢ Marketing offers: including ļ State of felt deprivation
products, services and ļ¢ Example: Need food
experiences ļ¢ Wants
ļ¢ Value and satisfaction ļ Needs directed to specific
objects
ļ¢ Exchange, transactions and ļ The form of needs as shaped by
relationships culture and the individual
ļ¢ Example: Want a Big Mac
ļ¢ Markets ļ¢ Demands
ļ Wants which are backed by
buying power
8. CORE CONCEPTS OF MARKETING
ļ¢ Needs, wants, and demands ļ¢ Marketing offering
ļ¢ Marketing offers: including ļ Combination of products,
products, services and services, information or
experiences that satisfy a
experiences need or want
ļ¢ Value and satisfaction ļ Offer may include services,
ļ¢ Exchange, transactions and activities, people, places,
information or ideas
relationships
ļ¢ Markets
9. CORE CONCEPTS OF
MARKETING
Products
Anything that can be Offered to a Market to Satisfy a Need or Want
Experiences
Experiences Persons
Persons Places
Places
Organizations
Organizations Information
Information Ideas
Ideas
Services
Activities or Benefits Offered for Sale That Are Essentially
Intangible and Donāt Result in the Ownership of Anything
11. MARKET OFFERÄ°NGS- EXAMPLES
ļ® Marketing ideas
(social marketing)
This is the watch
Stephen Hollingshead, Jr.
was wearing when he
encountered a drunk driver.
Time of death 6:55 p.m.
āFriends Donāt Let Friends
Drive Drunkā
12. CORE CONCEPTS OF MARKETING
ļ¢ Value
ļ¢ Needs, wants, and demands ļ Customers form expectations
ļ¢ Marketing offers: including regarding value
products, services and ļ Marketers must deliver value to
experiences consumers
ļ¢ Value and satisfaction ļ¢ Satisfaction
ļ¢ Exchange, transactions and
ļ A satisfied customer will buy
again and tell others about their
relationships good experience
ļ¢ Markets
13. CORE CONCEPTS OF
MARKETING
Value Gained From Owning a Product and
Costs of Obtaining the Product is
āCustomer Valueā
Productās Perceived Performance in Delivering Value
Relative to Buyerās Expectations is
āCustomer Satisfactionā
Total Quality Management Involves Improving the Quality of
Products, Services, and Marketing Processes
14. CORE CONCEPTS OF
MARKETING
ļ¢ Exchange
ļ¢ Needs, wants, and demands ļ The act of obtaining a desired
object from someone by offering
ļ¢ Marketing offers: including something in return
products, services and ļ¢ Transaction
experiences ļ Trade of values between two or
ļ¢ Value and satisfaction more parties
ļ¢ Exchange, transactions and ļ¢ One exchange is not the goal,
relationships with several exchanges are
relationships the goal
ļ¢ Markets
ļ¢ Relationships are built
through delivering value and
satisfaction
ļ Marketing network Ä consists of
the company and all its supporting
stakeholders
15. CORE CONCEPTS OF
MARKETING
ļ¢ Needs, wants, and demands ļ¢ Market
ļ¢ Marketing offers: including ļ Set of actual and potential
products, services and buyers of a product
experiences ļ Marketers seek buyers that
are profitable
ļ¢ Value and satisfaction
ļ¢ Exchange, transactions and
relationships
ļ¢ Markets
16. SIMPLE MARKETING SYSTEM
Communication
Products/services
Industry Market
(a collection (a collection
of sellers) Money of Buyers)
Information
17. MARKETING DEFÄ°NED AS...
Process by which individuals and groups obtain what
they need and want through creating and
exchanging products and value with others.
Simply put: Marketing Ä the delivery of customer satisfaction at a profit.
18. MORE DEFÄ°NÄ°TÄ°ONS OF MARKETÄ°NG
ā¢ A social and managerial process by which individuals and
groups obtain what they need and want through creating,
offering and exchanging products and services of value
with others.
ā¢ The management process responsible for identifying,
anticipating and satisfying customer requirements
profitably.
ā¢ Marketing consists of individual and organizational activities that
facilitate and enhance satisfying exchange relationships in a
dynamic environment through the creation, servicing,
distribution, promotion and pricing of goods, services and ideas
19. MORE DEFÄ°NÄ°TÄ°ONS OF MARKETÄ°NG
(CONT.)
ļ¢ From the societal perspective; some marketers describe
marketing as the creation and delivery of a standart of living.
ļ¢ From the managerial perspective; marketing (management) is
the process of planning and executing the conception, pricing,
promotion and distribution of goods and services to create
exchanges that satisfy individual and organizational goals.
20. MARKETÄ°NG MANAGEMENT
ļ¢ Marketing management Ä the art and science of choosing
target markets and building profitable relationships with them.
ļ This definition must include answers to 2 questions:
ļ¢ What customers will we serve?
ļ¢ How can we serve these customers best?
ļ Getting, keeping, and growing customers through creating,
delivering, and communicating superior customer value
ļ¢ Marketing management involves Ä managing demand Ä
involves managing customer relationships
21. MARKETÄ°NG MANAGEMENT
ļ¢ Marketing management can be defined in broader terms as
ādemand managementā;
ļ Marketers aim to influence the level, timing and composition of
demand to meet organizational goals.
ļ¢ Marketing management is concerned
ļ not only with finding and increasing demand,
ļ but also with changing or even reducing it : demarketing!
ļ¢ Demarketingās aim is to reduce the number of customers or to
shift their demand temporarily or permanently
ļ¢ (e.g. move traffic away from a popular tourist attraction during peak demand
times)
22. EVOLUTÄ°ON OF MARKETÄ°NG THOUGHT
ļ¢ How marketing has become
āmarketingā as we understand it
and apply its practices today?
23. EVOLUTÄ°ON OF MARKETÄ°NG THOUGHT
ļ¢ Production Era (1850s-1920s)
ļ Industrial revolution; mass production
ļ Few products and little competition
ļ¢ Sales Era (1920s-1950s)
ļ The focus was on personal selling and advertising
ļ Sales seen as the major means for increasing profits
ļ¢ Mktg Era (1950s-present)
ļ Customer orientation replaced the āhard sellā of the sales-led era
ļ Determination of the needs and wants of customers before introducing
products or services
24. EVOLUTÄ°ON OF MARKETÄ°NG THOUGHT
ļ¢ Relationship Marketing Era: 1990s-
ļ Marketing era has recently shifted from being ātransaction-basedā
Ä to focusing on ārelationshipsā
ļ The argument Ä traditional marketing practices focused on
attracting new customers rather than retaining existing ones.
ļ It is equally important to hang on to existing customers so that
they become repeat buyers and long term loyal customers
ļ ācustomer relationship managementā!
25. COMPANY ORIENTATIONS TOWARDS THE
MARKETPLACE
Consumers prefer products that are
Production Concept
Production Concept widely available and inexpensive
Consumers favor products that
Product Concept
Product Concept offer the most quality, performance,
or innovative features
Consumers will buy products only if
Selling Concept
Selling Concept the company aggressively
promotes/sells these products
Focuses on needs/ wants of target
Marketing Concept
Marketing Concept markets & delivering value
better than competitors
26. PRODUCTÄ°ON CONCEPT
ļ¢ Consumers will favor those products that are widely
available and low in cost.
ļ¢ Managers concentrate on achieving high production
efficiency and wide distribution.
ļ¢ The assumption is valid at least in 2 situations :
ļ The demand for a product exceeds supply (suppliers will
concentrate on finding ways to increase production)
ļ The productās cost is high and has to be decreased to expand
the market.
27. PRODUCT CONCEPT
ļ¢ Consumers will favor those products that offer the most
quality, performance or innovative features.
ļ¢ Managers in product-oriented organizations concentrate on
making superior products and improving them over time.
ļ¢ The assumption Ä the customers will admire well-made
products and can evaluate product quality and performance
ļ¢ This concept may lead to marketing myopia
28. SELLÄ°NG CONCEPT
ļ¢ Agressiveselling and promotion
ļ¢ Assumptions are;
ļ Consumers must be convinced of buying company products
ļ Company is powerful in generating effective selling and
promotion to stimulate more buying
ļ¢ This concept is mostly used by firms which have
overcapacity.
ļ¢ The aim is āto sell what they makeā rather than āmake
what the market wants.ā
ļ¢ Short-term profits are more important (customer
dissatisfaction may occur)
29. MARKETÄ°NG CONCEPT
ļ¢ Key to achieving organizational goals consists of being
more effective than competitors in creating, delivering
and communicating customer value to target markets.
ļ¢ 4 pillars of modern marketing :
1. Target market
2. Customer needs
3. Integrated marketing
4. Profitability through customer satisfaction
30. MARKETING AND SALES CONCEPTS
CONTRASTED
Starting
point Focus Means Ends
Existing Selling and Profits through
Factory products promotion sales volume
(a) The selling concept
Customer Integrated Profits through
Market needs marketing customer
satisfaction
(b) The marketing concept
32. MARKETÄ°NG CONCEPT (CONT.)
1) Target market Ä homogenous group of customers to
whom the company wishes to appeal
2) Customer needs
ļ Consumers may not be fully conscious of their needs
ļ It may not be easy to articulate these needs
ļ They may use words that require some interpretation
ļ Customer-oriented thinking Ä to define customer needs from the
customerās point of view
ļ Sales revenue Ä New customers + Repeat customers
ļ āCustomer Retentionā vs. āCustomer Attractionā
ļ Customer satisfaction is a function of the product perceived
performance and buyerās expectations
33. MARKETÄ°NG CONCEPT (CONT.)
3) Integrated Marketing
1. Various marketing functions must work together for
customer satisfaction (coordination of 4Ps; marketing mix
elements)
ļ¢ Marketing Mix Ä controllable variables the company puts
together to satisfy its target market(s).
Product: Product variety, quality, design, features, brand name,
packaging, sizes, services, warranties, returns
Price: List price, discounts, allowances, payment period, credit terms
Promotion: Sales promotion, advertising, sales force, public relations,
direct marketing
Place: Channels, coverage, assortments, locations, inventory, transport
35. MARKETÄ°NG CONCEPT - THE 4 PāS Ä THE
4 CS
Marketing
Pro
Mix
duc
t
Pla
ce
Convenience
Customer Pri
c e Pro
Solution mo
tio
n
Customer
Cost Communication
36. MARKETÄ°NG CONCEPT (CONT.)
Integrated Marketing (cont.)
2. Marketing must be well coordinated with other
departments in the company;
all departments have to work together to satisfy
customersā needs and wants
4) Profitability through customer satisfaction
ļ To achieve profits as a result of creating superior
customer value
37. SELLING ā MARKETÄ°NG...
āThere will always be need for
some selling. But the aim of marketing
is to make selling superfluous. The aim
of marketing is to know and understand
the customer so well that the product or
service fits him and sells itself. Ideally,
marketing should result in a customer
who is ready to buy.ā
Peter Drucker
39. CHART
C
us
Fr
on t om
M t -li er
id n s
dl
e e
m pe
ers
an op
ag le
m T em
an op en
m a
Custom
en ge t
t -
MODERN MARKETÄ°NG CONCEPT
CUSTOMER-ORIENTED ORGANIZATION
40. RELATÄ°ONSHÄ°P MARKETÄ°NG CONCEPT
ļ¢ Customer Relationship Management Ä the overall process
of building and maintaining profitable customer
relationships by delivering superior customer value and
satisfaction.
ļ Itdeals with all aspects of acquiring, keeping and growing
customers
ļ Relationship building blocks Ä ācustomer valueā and
ācustomer satisfactionā
ļ āCustomer retentionā and ācustomer loyaltyā
ļ The intention Ä to gain a greater proportion of an existing
customerās purchases over a long period (increase āconsumer
lifetime valueā!)
41. RELATÄ°ONSHÄ°P MARKETÄ°NG CONCEPT
āOur slogan ā5+Million More Smiling Customersā is not
about reaching sales targets but about whether we are able
to provide greater satisfaction to a greater number of
customers...
The goal is to improve customer satisfaction which
translates to an increased number of āsmiling customers.ā
Tokuichi Uranishi
Executive Vice President,
Toyota Motor Corporation
42. CONNECTIONS WITH CUSTOMERS ā
NOT ALL CUSTOMERS ARE EQUAL
ā¢ Most marketers are targeting fewer, potentially more
profitable customers.
ā¢ Asking:
ā« What value does the customer bring to the organization?
ā« Are they worth pursuing? ā customer profitability analysis
ā¢ Focus has shifted to:
ā« keeping current customers, and
ā« building lasting relationships based on superior satisfaction
and value.
ļ It costs 5 to 10 times as much to attract a new customer as it does
to keep a current customer satisfied.
43. CUSTOMER RELATÄ°ONSHÄ°P
MANAGEMENT CAPTURING VALUE
FROM CUSTOMERS
Key Concepts
ļ¢ Customer delight leads to
ļ¢ Customer Loyalty and emotional relationships and
Retention loyalty
ļ¢ Share of ļ¢ Customer Lifetime Value
Customer
ļ¢ Customer Equity
(CLV) shows true worth of a
customer
44. CUSTOMER RELATÄ°ONSHÄ°P
MANAGEMENT CAPTURING VALUE
FROM CUSTOMERS
Key Concepts
ļ¢ Share of customerās purchase
ļ¢ Customer Loyalty and in a product category.
Retention ļ¢ Achieved through offering
ļ¢ Share of Customer greater variety, cross-sell and
ļ¢ Customer Equity up-sell strategies.
45. CUSTOMER RELATÄ°ONSHÄ°P
MANAGEMENT CAPTURING VALUE
FROM CUSTOMERS
Key Concepts ļ¢ The combined customer
lifetime values of all current
ļ¢ Customer Loyalty and and potential customers.
Retention ļ¢ Measures a firmās
ļ¢ Share of Customer performance, but in a
ļ¢ Customer Equity manner that looks to the
future.
ļ¢ Choosing the ābestā
customers is key
46. SOCÄ°ETAL MARKETÄ°NG CONCEPT
ļ¢ Companyās negative effects on society
ļ¢ Conflict between consumer wants and long-term social welfare
ļ¢ Marketing managers should be concerned with social
responsibility
ļ¢ The societal marketing concept
ļ Companyās task is to determine needs and wants of target
markets & to satisfy them more effectively and efficiently than
competitors --in a way that preserves or enhances the
consumerās and societyās well-being.
47. SOCIETAL MARKETING CONCEPT
Society
(Human Welfare)
Societal
Marketing
Concept
Consumers Company
(Want Satisfaction) (Profits)
50. MARKETS
MARKET SEGMENTS
MARKET SEGMENTS
Groups of customers with different wants,
Groups of customers with different wants,
buying preferences or product-use behavior
buying preferences or product-use behavior
TARGET MARKET
TARGET MARKET
A market segment for which
A market segment for which
the seller designs a marketing mix
the seller designs a marketing mix
51. MARKET SEGMENTATION
Process of dividing the total market
Process of dividing the total market
for a good or service into several smaller,
for a good or service into several smaller,
internally homogeneous groups
internally homogeneous groups
Members of each group are
Members of each group are
similar with respect to the factors
similar with respect to the factors
that influence demand
that influence demand
52. PROCESS OF MARKET
SEGMENTATION
Identify wants within a market
Identify wants within a market
Identify characteristics that
Identify characteristics that
distinguish the segments
distinguish the segments
Determine size and satisfaction
Determine size and satisfaction
53. MARKET SEGMENTATION
CONDITIONS
Measurable
Measurable Segment is
Segment is
and
and Accessible
Accessible
Obtainable Data
Obtainable Data
Large enough
Large enough
to be
to be
Profitable
Profitable
MICROMARKETING
MICROMARKETING
Treat each single customer
Treat each single customer
as a separate segment
as a separate segment
54. MARKET SEGMENTATION - FIRST
CUT
Customerās reason for buying
Customerās reason for buying
CONSUMER
CONSUMER
Purchase for personal use
Purchase for personal use
BUSINESS
BUSINESS
Purchase to use in organizations,
Purchase to use in organizations,
to resell, or to make other products
to resell, or to make other products
55. SEGMENTATION BASES
FOR CONSUMER MARKETS
1.Geographic
1.Geographic Possible Market Segments
Possible Market Segments
Region
Region
--North, South,
North, South,
Urban- Rural
Urban- Rural East West
East West
--Coastal, Non-coastal
Coastal, Non-coastal
Climate
Climate --Metro, Large towns,
Metro, Large towns,
Small towns
Small towns
Metro, A, B, C
Metro, A, B, C --Rural, Urban
Rural, Urban
--Villages > 1000,
Villages > 1000,
Etc.
Etc. < 1000 population etc
< 1000 population etc
56. SEGMENTATION BASES
FOR CONSUMER MARKETS
2.Demographic
2.Demographic Possible Market Segments
Possible Market Segments
Age
Age
--< 6M, 4-6 Yrs, 20-40,
< 6M, 4-6 Yrs, 20-40,
Gender
Gender 50+ etc
50+ etc
--Male, Female
Male, Female
Family life-cycle
Family life-cycle --Young couples w/o
Young couples w/o
children, Bachelor etc
children, Bachelor etc
Income
Income --10K-20K/M, >50K/M
10K-20K/M, >50K/M
-- Graduate, PG,
Graduate, PG,
Education, etc.
Education, etc. Engineers etc
Engineers etc
57. SEGMENTATION BASES
FOR CONSUMER MARKETS
3.Psychographic
3.Psychographic Possible Market Segments
Possible Market Segments
Personality
Personality
--Introvert/Extroverts,
Introvert/Extroverts,
Achievers, etc
Achievers, etc
Life-style (Activities,
Life-style (Activities, --Spiritual, Yoga, Music
Spiritual, Yoga, Music
Interests & Opinion)
Interests & Opinion) Politics, Business etc
Politics, Business etc
--Strength of Values
Strength of Values
such as fun, love &
such as fun, love &
Consumer values
Consumer values warmth, relationship
warmth, relationship
Etc.
Etc.
58. SEGMENTATION BASES
FOR CONSUMER MARKETS
4.Behavioral
4.Behavioral Possible Market Segments
Possible Market Segments
--Virtually forBenefits desired
Virtually for all desired
all
Benefits
products
products
--Heavy, Medium,
Heavy, Medium,rate
Usage rate
Usage
Low user, Non-user
Low user, Non-user
59. SEGMENTATION BASES
FOR BUSINESS MARKETS
1.Customer
1.Customer
Location Possible Market Segments
Possible Market Segments
Location
Region
Region
--North, South,
North, South,
Country
Country East West
East West
--Coastal, Non-coastal
Coastal, Non-coastal
Town etc
Town etc --Metro, Large towns,
Metro, Large towns,
Small towns
Small towns
--Rural, Urban
Rural, Urban
--Europe, Asea
Europe, Asea
60. SEGMENTATION BASES
FOR BUSINESS MARKETS
2.Customer
2.Customer
Type Possible Market Segments
Possible Market Segments
Type
Industry
Industry
--Steel, Cement, Textile
Steel, Cement, Textile
Size
Size
--Large, Small, Medium
Large, Small, Medium
--Centralized, Decentr-
Centralized, Decentr-
Organizational structure
Organizational structure
allized,
allized,
--Price, Price & quality,
Price, Price & quality,
Purchase Criteria
Purchase Criteria process for selection
process for selection
Etc.
Etc.
61. SEGMENTATION BASES
FOR BUSINESS MARKETS
3.Transaction
3.Transaction
Condition Possible Market Segments
Possible Market Segments
Condition
Buying Situation
Buying Situation
--Straight/Modified
Straight/Modified
Usage Rate
Usage Rate re-buy, New Buy
re-buy, New Buy
--Non/Light/Heavy user
Non/Light/Heavy user
Purchase Process
Purchase Process -- Competitive Bidding,
Competitive Bidding,
Leasing, Service etc
Leasing, Service etc
Order Size
Order Size --Large, small etc
Large, small etc
--More frequent,
More frequent,
Service Reqrmt
Service Reqrmt occasional, etc
occasional, etc
62. TARGET-MARKET STRATEGY
Market-aggregation
Market-aggregation
Strategy
Strategy
āmass-marketā
āmass-marketā
āundifferentiated-marketā
āundifferentiated-marketā
Single
Single
and
and Marketing
Marketing
Strategy
Strategy
āshotgunā
āshotgunā
Product differentiation
Product differentiation
Strategy
Strategy
63. TARGET-MARKET STRATEGY
Single-Segment
Single-Segment
Strategy
Strategy
āconcentration āā
āconcentration
One
One
Marketing
Marketing
Mix
Mix
NICHE
NICHE
MARKETERS
MARKETERS
65. SELECTING A TARGET MARKET
GUIDELINES
Compatible
Compatible
with companyās goals
with companyās goals
Match
Match
market opportunity
market opportunity
with resources
with resources
Profit that
Profit that
justifies investment
justifies investment
Competitors
Competitors
are few and/or weak
are few and/or weak
66. POSITIONING
Firm creating and maintaining
Firm creating and maintaining
in the minds of a target market a particular
in the minds of a target market a particular
image relative to competing products
image relative to competing products
THREE STEPS
Select position concept
Design the feature that
conveys position
Coordinate the marketing mix
to convey position
67. MARKET POSITIONING
ļ¢ Positioning is defined as the process of designing the
companyās products and image to occupy a unique place in the
target marketās mind.
ļ¢ Many marketers favor promoting only one major benefit and
Rosser Reeves called it as āa unique selling propositionā. Some
unique selling propositions (USPs) companies use are best
quality, best service, lowest price, best value, safest, more
advanced technology, etc.
67
68. THE FOUR MAJOR POSITIONING ERRORS
ā¢ Under positioning: Some companies find that buyers have
only an unclear idea of the brand.
ā¢ Over positioning: Buyers have very narrow image of the
brand.
ā¢ Confused positioning: Buyers have confused image of the
brand because the company has made too many claims or
changed the brand positioning too frequently.
ā¢ Doubtful positioning: Buyers do not easily believe the
claims made by brands about the productās features, price or
manufacturer.
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69. BASES OF POSITIONING THE
PRODUCT
1. Attribute positioning: The company positions itself on the basis
of attribute like size or number of years in existence. Sunfeast
positions its snacky brand as bigger, lighter and cheaper.
2. Benefit positioning: The company positions its product as leader
in providing a certain benefit. For example Santro positioned itself
as Indiaās simplest car to drive.
3. Use or application positioning: The company positions its
products as best for certain use or application. For example,
Kenstar positioned its products as unexpectedly cold.
4. User positioning: The company positions its product as best for
some user group. For example, Parle-G positions the boy in the
advertisement as rock star targeting the kids and boys.
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70. BASES OF POSITIONING THE PRODUCT
5. Competitor positioning: The company claims its products as
better than a named competitor.
6. Product category positioning: The company positions its
product as leader in certain product category. For example, Bajaj
CT 100 was positioned as leader in the entry segment bikes.
7. Quality or price positioning: The product is positioned as
offering the best value. For example, the vegetable oil brand Dhara
positions itself as āanokhi shuddata, anokha asarā. This means the
company offers unique purity and unique effect.
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72. FORECASTING MARKET DEMAND
MARKET SHARE
Proportion of total sales of a
Product during a stated period
in a specific market
that is captured by a single firm brand x brand y
our company brand z
MARKET FACTOR
1) exists in the market
2) is measurable
3) is related to the demand
for a product in a known way
73. FORECASTING MARKET DEMAND
MARKET POTENTIAL
MARKET POTENTIAL
Total sales of a
Total sales of a
Product during a
Product during a
Period in a market
Period in a market
under
under
ideal conditions
ideal conditions
74. FORECASTING MARKET DEMAND
SALES POTENTIAL
SALES POTENTIAL
Portion of market potential
Portion of market potential
that a specific company
that a specific company
could expect
could expect
under ideal conditions
under ideal conditions
75. FORECASTING MARKET DEMAND
SALES FORECAST
SALES FORECAST
Estimate of sales
Estimate of sales
For one company
For one company
during a period
during a period
in a specific market
in a specific market
assuming
assuming
a defined marketing plan
a defined marketing plan
76. METHODS OF SALES FORECASTING
Market-Factor
Market-Factor Survey of
Survey of
Analysis
Analysis Buyer Intentions
Buyer Intentions
Test Past Sales
Past Sales
Test
Marketing and
and
Marketing
Trend Analysis
Trend Analysis
Sales-Force
Sales-Force Executive
Executive
Composite
Composite Judgment
Judgment
77. CHALLENGES IN NETWORKED WORLD
OF MARKETING
Challenges ļ¢ Growth of the Internet
ļ¢ Advances in
ā¢ Digital age telecommunications,
information, transportation
ā¢ Globalization ļ Customer research and tracking
ā¢ Ethics and social ļ Product development
responsibility ļ Distribution
ļ New advertising tools
ā¢ Not-for-profit marketing ļ 24/7 marketing through the
ā¢ Marketing relationships Internet
78. Challenges in Networked World of Marketing
Challenges
ļ¢ Geographical and cultural
ā¢ Digital age distances have shrunk
ā¢ Globalization ļ Greater market coverage
ļ More options for purchasing
ā¢ Ethics and social and manufacturing
responsibility ļ Increased competition from
ā¢ Not-for-profit marketing foreign competitors
ā¢ Marketing relationships
79. CHALLENGES IN NETWORKED WORLD
OF MARKETING
Challenges
ļ¢ Marketers need to take
ļ¢ Digital age great responsibility for the
ļ¢ Globalization impact of their actions
ļ¢ Ethics and social
responsibility
ļ¢ Not-for-profit marketing
ļ¢ Marketing relationships
80. CHALLENGES IN NETWORKED WORLD
OF MARKETING
Challenges ļ¢ Many organizations are
ā¢ Digital age realizing the importance of
strategic marketing
ā¢ Globalization
ļ Performing arts
ā¢ Ethics and social ļ Government agencies
responsibility ļ Colleges, universities
ā¢ Not-for-profit marketing ļ Hospitals
ā¢ Marketing relationships
81. CHALLENGES IN NETWORKED WORLD
OF MARKETING
Challenges ļ¢ Profits through managing
ā¢ Digital age long-term customer equity
ļ Improve customer knowledge
ā¢ Globalization
ļ Target profitable customers
ā¢ Ethics and social ļ Keep profitable customers
responsibility
ā¢ Not-for-profit marketing
ā¢ Marketing relationships