Completed the very first module 'CULTIVATE' taught by Dr. Deepak R Gupta. As a communication professional I have always been supporting the marketing team of the organization I have been working for but never had a chance to gather the actual insights of the subject. This module helped me dive deep and enhance my understanding which will definitely help me extend further uplifted communication solutions. This presentation highlights the primary yet one of the key quotient of marketing. All of us have either heard of it and knowingly unknowingly have experienced it. Would be a quick refresh!

1. Marketing Management
A Race Without A Finishing Line
Creation: Lokesh Mansukhani | Guidance: Dr. Deppak R Gupta
Institute: NMIMS | Date: 02102020

2. 4 Essentials
Of Marketing
Strategy

3. 4 Essentials of Marketing Strategy – AN OUTLINE
Product refers to a
good or service that a
company offers to
customers. Ideally, a
product should fulfill
an existing consumer
demand.
Price is the cost
consumers pay for a
product. Marketers
must link the price to
the product's real and
perceived value, but
they also must consider
supply costs, seasonal
discounts, and
competitors' prices.
When a company makes
decisions regarding
place, they are trying to
determine where they
should sell a product
and how to deliver the
product to the market.
Promotion includes
advertising, public
relations, and
promotional strategy.
The goal of promoting a
product is to reveal to
consumers why they
need it and why they
should pay a certain
price for it.

4. 4 Essentials of Marketing Strategy – AN EXAMPLE
When you come to know that there is a Coca-Cola with the Green
Label somewhere in the world and that it is still not sold
worldwide you probably think
“What-The-H...?”.
Most people still find it weird but after years of dominating the
market with the product and powerful advertising campaign, Coca-
Cola found itself in a world where everyone wanted to feel more
sustainable and healthier.
So, after 5 years of research, they came up with the Coca-Cola Life,
with less sugar and stevia, a natural sweetener.
After a Market test in Chile and Argentina, the product was
launched in different countries of the world.
What does this teach about the first P of the marketing mix?
Well, that products must always respond to the needs of the
market. No matter how strong your starting position is, no matter
how strong your marketing there are moments where you have to
start from a product.

5. 4 Essentials of Marketing Strategy – THE CONCLUSION
At the end of the day if you want to succeed in business you have to be looking to create long-lasting relationships
with your customers.
The four elements must be in harmony and none most portray conflicting messages. The marketing mix must be
customer-centric, that is why the 4Cs must be used alongside the 4Ps while determining answers to the variables.
That is:
• The price must be a cost the customer can afford
• The promotion must solely be based on communicating with the customers
• The product must offer a solution to the problem of the customer
• The place must be one that is convenient for the customers to reach
And, just as in your personal life, you don’t create any long-lasting relationships by shouting loud, showing off and
lying.

6. 3 Essentials
To Analyze
The Offering

7. 3 Essentials to analyze the offering – SEGMENTATION
This is to divide customers into groups of people with
common characteristics and need which allows to tailor the
approach and meet each group's needs cost-effectively. The
key approaches include demography, geography,
pshychography, and behavior.
Example: The Adventure Travel Company is an online travel
agency that organizes worldwide adventure vacations. It has
split its customers into three segments, because it's too
costly to create different packages for more groups than this.
Segment A is made up of young married couples, who are
primarily interested in affordable, eco-friendly vacations in
exotic locations. Segment B consists of middle-class families,
who want safe, family-friendly vacation packages that make
it easy and fun to travel with children. Segment C comprises
upscale retirees, who are looking for stylish and luxurious
vacations in well-known locations such as Paris and Rome.

8. 3 Essentials to analyze the offering – TARGETING
Segments can be targeted by considering several factors like
profitability, size and potential growth, comparison with
other segments, and how efficiently these segments can be
served.
Example: The Adventure Travel Company analyzes the
profits, revenue and market size of each of its segments.
Segment A has profits of $8,220,000, Segment B has profits
of $4,360,000, and Segment C has profits of $3,430,000. So,
it decides to focus on Segment A, after confirming that the
segment size is big enough (it's estimated to be worth
$220,000,000/year.)

9. 3 Essentials to analyze the offering – POSITIONING
Here the goal is to identify how product can be positioned to
target the most valuable customer segments. Later an
appropriate / strategic marketing mix can be defined. Unique
selling proposition in union with value proposition forms the
basis of effectively positioning the product.
Example: The Adventure Travel Company markets itself as
the "best eco-vacation service for young married couples"
(Segment A).
It hosts a competition on Instagram® and Pinterest® to reach
its desired market, because these are the channels that these
people favor. It asks customers to send in interesting pictures
of past eco-vacations, and the best one wins an all-inclusive
trip.
The campaign goes viral and thousands of people send in
their photos, which helps build the Adventure Travel
Company mailing list. The company then creates a monthly
e-newsletter full of eco-vacation destination profiles.

10. Interesting Marketing Facts
LESSONS LEARNED
• Take risks.
• Accept the change.
• If you refuse to change over time, it will become obsolete.
• Become so powerful that your competitors become your
allies.
• Reach top position and work smart with competition.
• Keep innovating.
DECISIONS TAKEN
• Nokia rejected Android.
• Yahoo rejected Google.
• Kodak turned down digital cameras.
• Blockbuster reject Netflix.
• Facebook takes over WhatsApp and
Instagram.
• Grab takes over Uber in Southeast Asia.

11. Just keep working hard.
Invest your time wisely.
Don't be afraid to fail.