The document discusses the marketing audit process. It begins by defining a marketing audit as a systematic, critical, and impartial review of a company's marketing goals, policies, methods, and personnel. It then outlines the key steps in conducting a marketing audit, including: 1) determining who conducts the audit, 2) when and how often it is done, 3) the areas to be audited, 4) developing audit forms, 5) implementing the audit, and 6) presenting results to management. The marketing audit considers both internal and external factors and reviews marketing plan performance.
This document provides notes on marketing management from Jain College. It defines key marketing concepts such as market, marketing, customer value and satisfaction. It also discusses different marketing orientations like selling, production and marketing orientations. Additionally, it outlines various types of marketing organizations including functional, geographic and product-based structures. The document aims to impart foundational knowledge on marketing to MBA students.
Perceived Consumer-Centric Marketing- Mix at the Urban Bottom of the Pyramid-...QUESTJOURNAL
ABSTRACT: Purpose of study: The current research study strives to develop a reliable and valid consumercentric marketing- mix for the core or essential food items at Urban Bottom or Base of the Pyramid market. Design/methodology/approach: This research paper reviews the existing marketing- mix elements of western food market (Product, Price, Place and Promotion). A survey of six hundred households was conducted in six selected slum areas of Delhi. Thereby, based on the exploratory factor analysis existing elements of marketingmix were refined for the essential food items. Findings: Through a survey of 600 respondents residing in six highly dense slum area of Delhi (India), 4 Ps marketing-mix instrument was redefined and empirically tested through exploratory factor analysis. The resultant marketing-mix for BOP segment comprised of four dimensions renamed as Core product, Price Sensitivity, Social sources of information and Place Loyalty. Practical implications: For managers, this research suggests a set of guidelines for designing an efficient marketing-mix for core food items in consumer-sensitive manner. Social Implications: Recommendations will lead to inculcating a long forgotten market in mainstream, economy and improving the standard of their living by providing significant choices. Originality Value: This paper makes an original contribution in direction of revival of existing western marketing-mix based on the BOP consumer survey. Research limitation- The food items consumed by BOP market is further pronged into two categories- Core and Non-core Food items. This study is limited to understanding the purchase behavior for core or essential food items. This study was conducted in six densely populated urban slum areas of Delhi. Paper type: Empirical Research Paper
Marketing management book 1 st sem mba @ bec domsBabasab Patil
This document provides an overview of marketing management concepts. It discusses the nature and scope of marketing, including definitions of marketing and the types of entities that are marketed such as goods, services, experiences, events, persons, places, properties, organizations, information and ideas. It also covers analyzing consumer markets and buyer behavior, explaining how cultural, social, personal and psychological factors influence consumer decisions. Specific topics covered include reference groups, family influences, and social roles/statuses.
This document provides an overview of marketing management concepts including:
- The definition of marketing as creating value for customers through communication and delivery while managing relationships.
- Marketing involves specialized functions like integrating production with distribution, promotion, and price to accomplish organizational goals.
- The scope of marketing covers goods, services, experiences, events, people, places, properties, organizations, information, and ideas.
- Marketing functions include buying, assembling, selling, transportation, storage, distribution, pricing, market information, and after-sales service.
- Objectives of marketing management are to create new customers, satisfy customer needs, enhance profitability, and raise standards of living through the marketing mix.
This document provides an overview of marketing concepts and approaches. It discusses five concepts that guide a business's marketing activities: the production concept, product concept, selling concept, marketing concept, and societal marketing concept. The marketing concept views customers as central and focuses on satisfying customer needs. The document also defines key marketing terms like needs, wants, demands, products, value, exchange, and markets. It emphasizes that the most effective approach is to understand customer needs and wants.
Marketing management involves influencing demand to meet organizational objectives. There are 8 states of demand that marketers must consider. The core concepts of marketing include market segmentation, understanding customer needs and wants, developing products of value, facilitating exchange and transactions, relationship marketing, and utilizing the marketing mix. The marketing concept holds that customer satisfaction should be the primary goal through creating value, while the societal marketing concept aims to enhance customer and societal well-being. Building customer satisfaction requires understanding customer value and managing customer costs, monitoring satisfaction levels, and focusing business processes and resources to achieve customer value and satisfaction goals.
The document discusses various aspects of marketing such as marketing decisions, strategies, consumer and business markets, and the marketing mix. It also covers topics like consumer behavior, different marketing concepts, research, and the importance of having customer focus and core competencies. The overall focus is on outlining important considerations for developing and implementing effective marketing approaches for businesses.
Marketing is a system of business activities designed to plan, price, promote, and distribute products and services to target markets to achieve organizational objectives. It involves identifying consumer needs and fulfilling them through coordinated marketing activities. Implementing the marketing concept requires being customer-oriented through long-term relationships and mass customization, coordinating all marketing activities, and achieving organizational performance and societal responsibility objectives.
This document provides notes on marketing management from Jain College. It defines key marketing concepts such as market, marketing, customer value and satisfaction. It also discusses different marketing orientations like selling, production and marketing orientations. Additionally, it outlines various types of marketing organizations including functional, geographic and product-based structures. The document aims to impart foundational knowledge on marketing to MBA students.
Perceived Consumer-Centric Marketing- Mix at the Urban Bottom of the Pyramid-...QUESTJOURNAL
ABSTRACT: Purpose of study: The current research study strives to develop a reliable and valid consumercentric marketing- mix for the core or essential food items at Urban Bottom or Base of the Pyramid market. Design/methodology/approach: This research paper reviews the existing marketing- mix elements of western food market (Product, Price, Place and Promotion). A survey of six hundred households was conducted in six selected slum areas of Delhi. Thereby, based on the exploratory factor analysis existing elements of marketingmix were refined for the essential food items. Findings: Through a survey of 600 respondents residing in six highly dense slum area of Delhi (India), 4 Ps marketing-mix instrument was redefined and empirically tested through exploratory factor analysis. The resultant marketing-mix for BOP segment comprised of four dimensions renamed as Core product, Price Sensitivity, Social sources of information and Place Loyalty. Practical implications: For managers, this research suggests a set of guidelines for designing an efficient marketing-mix for core food items in consumer-sensitive manner. Social Implications: Recommendations will lead to inculcating a long forgotten market in mainstream, economy and improving the standard of their living by providing significant choices. Originality Value: This paper makes an original contribution in direction of revival of existing western marketing-mix based on the BOP consumer survey. Research limitation- The food items consumed by BOP market is further pronged into two categories- Core and Non-core Food items. This study is limited to understanding the purchase behavior for core or essential food items. This study was conducted in six densely populated urban slum areas of Delhi. Paper type: Empirical Research Paper
Marketing management book 1 st sem mba @ bec domsBabasab Patil
This document provides an overview of marketing management concepts. It discusses the nature and scope of marketing, including definitions of marketing and the types of entities that are marketed such as goods, services, experiences, events, persons, places, properties, organizations, information and ideas. It also covers analyzing consumer markets and buyer behavior, explaining how cultural, social, personal and psychological factors influence consumer decisions. Specific topics covered include reference groups, family influences, and social roles/statuses.
This document provides an overview of marketing management concepts including:
- The definition of marketing as creating value for customers through communication and delivery while managing relationships.
- Marketing involves specialized functions like integrating production with distribution, promotion, and price to accomplish organizational goals.
- The scope of marketing covers goods, services, experiences, events, people, places, properties, organizations, information, and ideas.
- Marketing functions include buying, assembling, selling, transportation, storage, distribution, pricing, market information, and after-sales service.
- Objectives of marketing management are to create new customers, satisfy customer needs, enhance profitability, and raise standards of living through the marketing mix.
This document provides an overview of marketing concepts and approaches. It discusses five concepts that guide a business's marketing activities: the production concept, product concept, selling concept, marketing concept, and societal marketing concept. The marketing concept views customers as central and focuses on satisfying customer needs. The document also defines key marketing terms like needs, wants, demands, products, value, exchange, and markets. It emphasizes that the most effective approach is to understand customer needs and wants.
Marketing management involves influencing demand to meet organizational objectives. There are 8 states of demand that marketers must consider. The core concepts of marketing include market segmentation, understanding customer needs and wants, developing products of value, facilitating exchange and transactions, relationship marketing, and utilizing the marketing mix. The marketing concept holds that customer satisfaction should be the primary goal through creating value, while the societal marketing concept aims to enhance customer and societal well-being. Building customer satisfaction requires understanding customer value and managing customer costs, monitoring satisfaction levels, and focusing business processes and resources to achieve customer value and satisfaction goals.
The document discusses various aspects of marketing such as marketing decisions, strategies, consumer and business markets, and the marketing mix. It also covers topics like consumer behavior, different marketing concepts, research, and the importance of having customer focus and core competencies. The overall focus is on outlining important considerations for developing and implementing effective marketing approaches for businesses.
Marketing is a system of business activities designed to plan, price, promote, and distribute products and services to target markets to achieve organizational objectives. It involves identifying consumer needs and fulfilling them through coordinated marketing activities. Implementing the marketing concept requires being customer-oriented through long-term relationships and mass customization, coordinating all marketing activities, and achieving organizational performance and societal responsibility objectives.
The ability to accept or reject the offer (C) is not a condition that must be satisfied for an exchange to take place. The other options (A, B, D, E) are conditions that must be satisfied.
This document outlines topics to be covered in a marketing principles course presented by Syed Abul Kalam Azad. The group presentation is divided among five students who will cover topics such as the marketing process, customer needs and demands, market offerings, customer value and satisfaction, exchange and relationships, modern marketing systems, and the production, product, selling, marketing and societal concepts of marketing. Additional topics include green marketing, customer perceived value, and customer equity, share and lifetime value.
The document defines marketing and outlines its key concepts. Marketing is defined as identifying and meeting human and social needs profitably through the flow of goods and services from producers to customers. The key aspects of marketing include the 4Ps of product, price, place and promotion as well as concepts like market segmentation, branding, and competition. The marketing concept emphasizes satisfying customer needs to achieve organizational goals.
The document provides an introduction to marketing concepts. It defines marketing and discusses key concepts including needs, wants and demands; products, services and experiences; customer value, satisfaction and quality; exchange, transactions and relationships; and markets. It then examines several marketing philosophies or concepts, including the production concept, product concept, selling concept, marketing concept, and societal marketing concept. The holistic marketing concept integrates elements of other concepts, with a focus on internal marketing, integrated marketing, relationship marketing, and social responsibility.
Marketing Concepts- Production, Social, Exchange, Selling, Product and Holist...Dan John
This document discusses various marketing concepts, including traditional and modern concepts. The traditional concepts focused on product and selling, with the goal of profit maximization. The modern marketing concept, which is considered the dominant philosophy today, focuses on understanding customer needs and wants in order to satisfy customers. It has dual goals of customer satisfaction and profitability. Key features include identifying customer needs, producing goods to meet those needs, minimizing costs, focusing all activities on satisfying customers, and taking an integrated approach to coordinating marketing functions.
The document discusses marketing concepts and the marketing mix. It defines marketing concepts as the philosophies adopted by companies to market their products. It then outlines traditional concepts like the exchange concept versus modern concepts like the marketing concept. The marketing mix is introduced as the combination of product, price, place, and promotion strategies used to satisfy the target market. The roles of each element are defined, along with other factors like packaging, people, and politics. The document provides details on how the marketing mix elements can be blended to meet customer needs.
The document provides an overview of marketing concepts including defining marketing as a process of creating value for customers and building relationships to capture value in return. It outlines the marketing process and discusses understanding customer needs and the marketplace. It also identifies elements of a customer-driven marketing strategy and different marketing management orientations that guide strategy. Finally, it discusses building customer relationships through customer relationship management.
1. Marketing involves creating, offering, and exchanging products and services of value to satisfy needs and wants through target markets.
2. The scope of marketing has expanded from physical goods to include services, experiences, events, people, places, properties, organizations, information, and ideas.
3. The core concepts of marketing include understanding target markets and segmentation, customer needs and value, the marketing mix of product, price, place, and promotion, and developing relationships through marketing channels.
The document provides an overview of careers in marketing and key marketing concepts. It lists various managerial and entry-level jobs in marketing such as CEO, marketing manager, sales executive. It also defines key terms like market, need, want, demand, product, customer value and satisfaction. It classifies markets based on geographic area, competition and type of goods. Finally, it discusses marketing functions and the importance of quality, value and relationships in marketing.
1. The document discusses the importance and role of marketing in business. It explains that marketing is the process of creating, communicating, and delivering value to customers in a way that benefits both the customer and the organization.
2. Marketers manage demand for a variety of products and services. They seek to influence factors like demand levels, timing and composition. Marketers also operate in different marketplaces like consumer, business, and nonprofit.
3. The document outlines the key concepts in marketing including the production concept, product concept, selling concept and marketing concept. It emphasizes that the marketing concept and holistic marketing concept are most effective today given changes in the business environment and rise of technologies.
The document discusses marketing and marketing management orientations. It defines marketing as anticipating customer needs and satisfying them profitably. Marketing management is choosing target markets and keeping/growing customers through superior value. There are five main orientations: production focuses on efficiency; marketing focuses on customer needs; selling uses promotion; product focuses on quality; and societal considers customers, society and profits. The orientations help companies meet needs, avoid mistakes, uncover opportunities and achieve satisfaction.
This document provides an overview of key concepts in contemporary marketing. It defines marketing according to the American Marketing Association as "the process of planning and executing conception, pricing, promotion and distribution of ideas, goods and services to create exchanges." It discusses how marketing is used by both for-profit and nonprofit organizations to meet individual and organizational goals. The marketing concept and marketing strategies involving the "four Ps" of product, price, promotion and place are explained as frameworks for understanding customer needs and wants in target markets.
Principles of Marketing for B.Com,
Presented By
V.Gopalakrishnan.,M.Com.,MBA.,M.Phil.,PGDMM.,
Assistant Professor,
Dept of Commerce,
Kamaraj College, Tuticorin
A new way to look at marketing... Introductory session to Hospital Management Students of BK School of Business Management, Gujarat University taken on 22 September 2011.
for more details, visit:
www.profmanishparihar.blogspot.com
This document discusses different marketing concepts that guide organizational strategies. It outlines five concepts: the production concept, which focuses on efficiency and availability; the product concept, which emphasizes product quality and features; the selling concept, which relies on promotional activities to drive sales; the marketing concept, which determines customer needs and delivers satisfaction more effectively than competitors; and the societal marketing concept, which balances customer, societal and company interests to preserve welfare. The marketing concept is contrasted with the selling concept, with the former starting from customer needs and focusing on satisfaction versus the latter starting from factory outputs and focusing on sales volumes.
Introduction to marketing principles week 1Rachel Coles
This document provides an introduction to marketing principles. It defines marketing as creating, communicating, delivering, and exchanging offerings of value for customers. Marketing involves understanding customer needs and wants in order to meet them. A business uses a marketing mix of product, price, place, and promotion to develop a value proposition and target specific customer segments. An orientation focused on customer satisfaction through understanding needs and building relationships leads to greater success than sales-driven approaches.
This document provides an overview of marketing mix decisions and the product planning and development process. It discusses the key elements of the marketing mix - product, price, place, promotion, packaging and people. For each element, it describes how companies make decisions related to that part of the mix. It also covers product life cycles and new product development. Finally, it discusses the product planning and development process, defining a product and the importance of understanding customer needs when developing new offerings.
Marketing Management(Notes for BBA & Commerce)Seetal Daas
The document defines key marketing concepts such as markets, demand, products, brands, competition, and the marketing mix. It discusses traditional markets as physical places for buyers and sellers and different types of markets from a marketer's perspective including consumer, business, global, and nonprofit markets. It also provides definitions
The document discusses why love is the way to victory for Christians. It provides several biblical justifications, including that love never fails, faith works through love, and the greatest commandments are to love God and others. The document also gives insights into walking in God's love through qualities like patience, kindness, and forgiveness. Christians already have God's love and should seek wisdom to understand and demonstrate it fully.
The ability to accept or reject the offer (C) is not a condition that must be satisfied for an exchange to take place. The other options (A, B, D, E) are conditions that must be satisfied.
This document outlines topics to be covered in a marketing principles course presented by Syed Abul Kalam Azad. The group presentation is divided among five students who will cover topics such as the marketing process, customer needs and demands, market offerings, customer value and satisfaction, exchange and relationships, modern marketing systems, and the production, product, selling, marketing and societal concepts of marketing. Additional topics include green marketing, customer perceived value, and customer equity, share and lifetime value.
The document defines marketing and outlines its key concepts. Marketing is defined as identifying and meeting human and social needs profitably through the flow of goods and services from producers to customers. The key aspects of marketing include the 4Ps of product, price, place and promotion as well as concepts like market segmentation, branding, and competition. The marketing concept emphasizes satisfying customer needs to achieve organizational goals.
The document provides an introduction to marketing concepts. It defines marketing and discusses key concepts including needs, wants and demands; products, services and experiences; customer value, satisfaction and quality; exchange, transactions and relationships; and markets. It then examines several marketing philosophies or concepts, including the production concept, product concept, selling concept, marketing concept, and societal marketing concept. The holistic marketing concept integrates elements of other concepts, with a focus on internal marketing, integrated marketing, relationship marketing, and social responsibility.
Marketing Concepts- Production, Social, Exchange, Selling, Product and Holist...Dan John
This document discusses various marketing concepts, including traditional and modern concepts. The traditional concepts focused on product and selling, with the goal of profit maximization. The modern marketing concept, which is considered the dominant philosophy today, focuses on understanding customer needs and wants in order to satisfy customers. It has dual goals of customer satisfaction and profitability. Key features include identifying customer needs, producing goods to meet those needs, minimizing costs, focusing all activities on satisfying customers, and taking an integrated approach to coordinating marketing functions.
The document discusses marketing concepts and the marketing mix. It defines marketing concepts as the philosophies adopted by companies to market their products. It then outlines traditional concepts like the exchange concept versus modern concepts like the marketing concept. The marketing mix is introduced as the combination of product, price, place, and promotion strategies used to satisfy the target market. The roles of each element are defined, along with other factors like packaging, people, and politics. The document provides details on how the marketing mix elements can be blended to meet customer needs.
The document provides an overview of marketing concepts including defining marketing as a process of creating value for customers and building relationships to capture value in return. It outlines the marketing process and discusses understanding customer needs and the marketplace. It also identifies elements of a customer-driven marketing strategy and different marketing management orientations that guide strategy. Finally, it discusses building customer relationships through customer relationship management.
1. Marketing involves creating, offering, and exchanging products and services of value to satisfy needs and wants through target markets.
2. The scope of marketing has expanded from physical goods to include services, experiences, events, people, places, properties, organizations, information, and ideas.
3. The core concepts of marketing include understanding target markets and segmentation, customer needs and value, the marketing mix of product, price, place, and promotion, and developing relationships through marketing channels.
The document provides an overview of careers in marketing and key marketing concepts. It lists various managerial and entry-level jobs in marketing such as CEO, marketing manager, sales executive. It also defines key terms like market, need, want, demand, product, customer value and satisfaction. It classifies markets based on geographic area, competition and type of goods. Finally, it discusses marketing functions and the importance of quality, value and relationships in marketing.
1. The document discusses the importance and role of marketing in business. It explains that marketing is the process of creating, communicating, and delivering value to customers in a way that benefits both the customer and the organization.
2. Marketers manage demand for a variety of products and services. They seek to influence factors like demand levels, timing and composition. Marketers also operate in different marketplaces like consumer, business, and nonprofit.
3. The document outlines the key concepts in marketing including the production concept, product concept, selling concept and marketing concept. It emphasizes that the marketing concept and holistic marketing concept are most effective today given changes in the business environment and rise of technologies.
The document discusses marketing and marketing management orientations. It defines marketing as anticipating customer needs and satisfying them profitably. Marketing management is choosing target markets and keeping/growing customers through superior value. There are five main orientations: production focuses on efficiency; marketing focuses on customer needs; selling uses promotion; product focuses on quality; and societal considers customers, society and profits. The orientations help companies meet needs, avoid mistakes, uncover opportunities and achieve satisfaction.
This document provides an overview of key concepts in contemporary marketing. It defines marketing according to the American Marketing Association as "the process of planning and executing conception, pricing, promotion and distribution of ideas, goods and services to create exchanges." It discusses how marketing is used by both for-profit and nonprofit organizations to meet individual and organizational goals. The marketing concept and marketing strategies involving the "four Ps" of product, price, promotion and place are explained as frameworks for understanding customer needs and wants in target markets.
Principles of Marketing for B.Com,
Presented By
V.Gopalakrishnan.,M.Com.,MBA.,M.Phil.,PGDMM.,
Assistant Professor,
Dept of Commerce,
Kamaraj College, Tuticorin
A new way to look at marketing... Introductory session to Hospital Management Students of BK School of Business Management, Gujarat University taken on 22 September 2011.
for more details, visit:
www.profmanishparihar.blogspot.com
This document discusses different marketing concepts that guide organizational strategies. It outlines five concepts: the production concept, which focuses on efficiency and availability; the product concept, which emphasizes product quality and features; the selling concept, which relies on promotional activities to drive sales; the marketing concept, which determines customer needs and delivers satisfaction more effectively than competitors; and the societal marketing concept, which balances customer, societal and company interests to preserve welfare. The marketing concept is contrasted with the selling concept, with the former starting from customer needs and focusing on satisfaction versus the latter starting from factory outputs and focusing on sales volumes.
Introduction to marketing principles week 1Rachel Coles
This document provides an introduction to marketing principles. It defines marketing as creating, communicating, delivering, and exchanging offerings of value for customers. Marketing involves understanding customer needs and wants in order to meet them. A business uses a marketing mix of product, price, place, and promotion to develop a value proposition and target specific customer segments. An orientation focused on customer satisfaction through understanding needs and building relationships leads to greater success than sales-driven approaches.
This document provides an overview of marketing mix decisions and the product planning and development process. It discusses the key elements of the marketing mix - product, price, place, promotion, packaging and people. For each element, it describes how companies make decisions related to that part of the mix. It also covers product life cycles and new product development. Finally, it discusses the product planning and development process, defining a product and the importance of understanding customer needs when developing new offerings.
Marketing Management(Notes for BBA & Commerce)Seetal Daas
The document defines key marketing concepts such as markets, demand, products, brands, competition, and the marketing mix. It discusses traditional markets as physical places for buyers and sellers and different types of markets from a marketer's perspective including consumer, business, global, and nonprofit markets. It also provides definitions
The document discusses why love is the way to victory for Christians. It provides several biblical justifications, including that love never fails, faith works through love, and the greatest commandments are to love God and others. The document also gives insights into walking in God's love through qualities like patience, kindness, and forgiveness. Christians already have God's love and should seek wisdom to understand and demonstrate it fully.
This document discusses how users can manage RAID groups on a NAS device. It describes how users can expand a RAID group's capacity by replacing drives one by one with larger drives, while keeping user data intact. The process involves selecting the RAID group to expand, removing the existing drives when prompted, replacing them with new larger drives, and clicking "Expand Capacity" to complete the process.
This document provides information about ancient India's achievements and discoveries in various fields like science, mathematics, medicine, astronomy, language, and art. Some key points include:
- India invented concepts like the number zero, place-value system, quadratic equations, and trigonometry, as well as calculating pi and the speed of light, centuries before other civilizations.
- Ancient Indian texts from thousands of years ago describe advanced medical knowledge including surgery, anesthesia, and embryology.
- Fields like astronomy, physics, and chemistry had major contributions from ancient Indian scholars, including the theory of gravity, space travel, and the speed of light.
- India developed diverse artistic traditions including classical dance forms,
It can get pretty complicated to set up duties and tax rates, which is one of the primary tasks to perform when setting up a store. Taxes can be a complex matter, however, WooCommerce plans to make setup as direct as possible.
Este documento presenta la asignatura de Cálculo Diferencial que incluye cuatro unidades sobre sucesiones y límites, continuidad y derivadas de funciones, y sus aplicaciones. El curso busca desarrollar habilidades matemáticas en estudiantes de ingeniería y ciencias naturales a través de estrategias que involucran trabajo independiente y en grupo. La evaluación se basa en tres cortes durante el semestre.
This document provides information on cocoa cultivation. It discusses the botanical details of cocoa, including its native region and major producing areas. It then covers cocoa cultivation practices in India such as common production areas, how it is grown as an intercrop, and seedling production. The document also discusses cocoa cultivation techniques including establishment, maintenance, pollination, harvesting, and pest and disease management.
Social media is fueled by the sharing of visual content. Some platforms, like Instagram, Pinterest, and Tumblr are built almost exclusively around visual content. So, if you’re seeking to gain visibility for your business via social media networks it’s important to know how to use images to their best effect.
El documento discute las estrategias globales y proporciona definiciones de lo que son y no son. Define una estrategia global como aquella que permite competir en cualquier mercado y hacer que los cimientos mundiales crezcan en cualquier situación competitiva. También habla de la competitividad selectiva y cómo esta estrategia puede aplicarse a pequeñas empresas internacionales.
An PPT on Consumer Behaviour and Market SegmentationMOHD AMAAN HASAN
This document provides information about consumer behavior and market segmentation. It lists the names of students and their teacher. It then defines consumer behavior and explains why understanding it is important for marketers. It discusses the four types of consumer behavior and different factors that influence consumer decisions. The document also defines market segmentation and explains the need for it and its benefits. It describes different types of market segmentation including demographic, psychographic, behavioral, and geographic segmentation. Finally, it discusses the importance of conducting a consumer behavior audit to understand internal and external influences on consumers.
The document provides a history and background of Britannia, one of India's largest biscuit companies. It details how Britannia was founded in 1892 in Kolkata with an initial investment of Rs. 295. Over the decades, Britannia mechanized its operations, received government contracts during WWII, diversified its product portfolio, and grew to become a top food brand in India through innovative marketing campaigns. Britannia remains an iconic Indian brand over a century after its founding, having expanded its product lines and grown its market share through strategic acquisitions and joint ventures.
Lenovo started in 1984 in Beijing, China and became the world's largest PC maker through strategic acquisitions and a focus on understanding customers. Lenovo listens to customers through social media to understand what influences purchases. The chapter discusses models of consumer behavior influenced by cultural, social, personal, and psychological factors. It also outlines the objectives of defining consumer markets, influences on buyer behavior, types of purchase decisions, and new product adoption.
Hey Friends , I have compiled some important questions and answers in PDF related to CONSUMER BEHAVIOUR AND MARKETING RESEARCH . Hope it will be useful for everyone !
This document discusses the marketing mix, also known as the 7Ps of marketing. It provides details on each of the 7Ps - product, price, place, promotion, people, physical evidence, and process. It explains that the marketing mix is made up of controllable variables that a company uses to satisfy customers better than competitors. The document also discusses buyer behavior, assembling the marketing mix, diagnostic marketing mix, and marketing plans. It provides information on each of these marketing concepts.
Consumer behavior refers to how individuals make purchase decisions based on psychological, social, and economic factors. Businesses study consumer behavior to develop effective marketing strategies by understanding target audiences. Consumer behavior is influenced by needs, perceptions, attitudes, motivations, and social influences. It involves a complex decision-making process. Businesses analyze consumer behavior to forecast demand, manage marketing, select target markets, optimize their marketing mix, educate customers, and design product portfolios that satisfy consumer preferences.
Consumer behavior is the study of how individuals purchase, use, and dispose of products and services. It involves understanding consumer thoughts, feelings, and actions. Studying consumer behavior helps companies gain competitive advantages by focusing on customer retention rather than just acquisition, and by understanding customer segments. Key factors that influence consumer behavior include cultural, social, personal, and psychological factors. Models of consumer decision making include the buying process model and consumer activity model. Consumer research methods are used to understand consumer behavior and include quantitative and qualitative approaches like surveys, interviews, and observation.
The document discusses the key determinants and processes involved in consumer buying behavior. It defines buying behavior and identifies the main factors that influence it, including cultural, social, personal and psychological factors. It then outlines the five main stages in the buying behavior process: perceived want or desire, information search, evaluation of alternatives, purchase decision, and post-purchase experience and behavior. The document concludes that understanding this buying behavior process is important for marketing management.
Chapter 5_Consumer Markets and Buyer Behavior.pptxBishoyRomani
1) The document discusses consumer markets and buyer behavior, outlining key factors that influence consumer purchasing decisions.
2) It introduces a model of consumer behavior that shows how marketing stimuli enter a consumer's "black box" and produce responses, influenced by consumer characteristics and decision processes.
3) The document then examines various cultural, social, personal, and psychological characteristics that shape buyer behavior, such as cultural and subculture influences, reference groups, motivation, perception, learning, beliefs and attitudes.
Consumer behavior is the study of how consumers make purchase decisions and how firms can influence those decisions. It involves understanding how consumers think, feel, reason, and select between different brands and products. Consumer behavior is influenced by culture, family, and media. Studying consumer behavior helps firms develop effective marketing strategies by gaining insights into why consumers purchase products, when they purchase, and how they prefer to shop. An understanding of consumer behavior allows companies to segment markets, target specific groups, and make appropriate marketing mix decisions regarding product, price, place, and promotion.
PM Ch 3 Analyzing Consumer & Business Market.pptxetebarkhmichale
Introduction
In life, there are universal laws that govern everything we do. These laws are so perfect that if you were to align yourself with them, you could have so much prosperity that it would be coming out of your ears. This is because God created the universe in the image and likeness of him. It is failure to follow the universal laws that causes one to fail. The laws that were created consisted of the following: ·
Law of Gratitude: The Law of Gratitude states that you must show gratitude for what you have. By having gratitude, you speed your growth and success faster than you normally would. This is because if you appreciate the things you have, even if they are small things, you are open to receiving more.
Law of Attraction: The Law of Attraction states that if you focus your attention on something long enough you will get it. It all starts in the mind. You think of something and when you think of it, you manifest that in your life. This could be a mental picture of a check or actual cash, but you think about it with an image.
Law of Karma: the Law of Karma states that if you go out and do something bad, it will come back to you with something bad. If you do well for others, good things happen to you. The principle here is to know you can create good or bad through your actions. There will always be an effect no matter what.
Law of Love: the Law of Love states that love is more than emotion or feeling; it is energy. It has substance and can be felt. Love is also considered acceptance of oneself or others. This means that no matter what you do in life if you do not approach or leave the situation out of love, it won't work.
Law of Allowing: The Law of Allowing states that for us to get what we want, we must be receptive to it. We can't merely say to the Universe that we want something if we don't allow ourselves to receive it. This will defeat our purpose for wanting it in the first place.
Law of Vibration: the Law of Vibration states that if you wish on something and use your thoughts to visualize it, you are halfway there to get it. To complete the cycle you must use the Law of Vibration to feel part of what you want. Do this and you'll have anything you want in life.
For everything to function properly there has to be structure. Without structure, our world, or universe, would be in utter chaos. Successful people understand universal laws and apply them daily. They may not acknowledge that to you, but they do follow the laws. There is a higher power and this higher power controls the universe and what we get out of it. People who know this, but wish to direct their own lives, follow the reasons. Successful people don't sit around and say "I'll try," they say yes and act on it.
Chapter - 1
The Law of Attraction
The law of attraction is the most powerful force in the universe. If you work against it, it can only bring you pain and misery. Successful people know this but have kept it hidden from the lower class for centuries because
The document discusses the marketing mix, also known as the 7Ps of marketing. It describes each element of the marketing mix (product, price, place, promotion, people, physical evidence, and process) and how marketers use the marketing mix to satisfy customers and gain a competitive advantage. It also discusses how marketers analyze buyer behavior, assemble the appropriate marketing mix based on target customers, and develop a marketing plan to implement marketing strategies and achieve marketing objectives.
This document discusses consumer behavior and the factors that influence it. It defines a consumer and consumer behavior. There are several stages in the consumer purchasing process, including need recognition, information search, evaluation of alternatives, purchase, and post-purchase evaluation. External factors like culture, subculture, social status, reference groups, and marketing activities can all impact consumer behavior. Understanding consumer behavior is important for marketers when analyzing opportunities, selecting target markets, and making marketing mix decisions.
This document discusses factors that influence consumer behavior, including cultural, social, and personal factors. Cultural factors include social class and subcultures that shape consumer wants. Social factors refer to the influence of reference groups, family roles, and social status. Personal factors comprise age and life stage, occupation, personality, lifestyle, and values. The consumer decision process involves problem recognition, information search, alternative evaluation, purchase decision, and post-purchase behavior. Psychological processes like motivation, perception, learning, and memory also impact consumer choices.
The document discusses consumer buying behavior and the factors that influence it. It provides definitions of consumer behavior and discusses the need to study consumer behavior to satisfy customer needs, understand consumer psychology, motives, choices, and preferences. It then describes different types of consumer buying behavior including complex, dissonance-reducing, habitual, and variety seeking behaviors. The stages of the consumer buying decision process are outlined as well as psychological, social, cultural, personal, and economic factors that influence consumer decisions.
This document discusses marketing and consumer behavior from several perspectives. It begins by defining marketing management and noting that it is both a science and an art. It then discusses the various factors that influence consumer behavior, including cultural, social, personal, psychological factors. It also outlines the consumer buying process and different types of consumer buying behavior. Specifically, it discusses the stages of need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. Overall, the document provides a comprehensive overview of key concepts in marketing and consumer behavior.
Introducing yourself and understanding your purpose and mission are essential for making a good first impression on consumers and stakeholders. Social media platforms like Facebook, YouTube, and Twitter allow people to share information virtually and help businesses promote their products or services. The consumer decision making process involves five stages - problem recognition, information search, alternative evaluation, purchase decision, and post-purchase behavior. Marketers must understand consumer behavior and what influences purchases from cultural, social, personal and psychological perspectives.
The document discusses STP strategies and provides examples of how companies segment, target, and position in the marketplace. It covers segmentation bases like demographics, psychographics, and consumption behaviors. Targeting criteria include identifying sizable, stable, and accessible market segments. Positioning involves developing a product image relative to competitors. An example is provided of Maggi positioning instant noodles in India as a fast, convenient snack.
In this humorous and data-heavy session, join us in a joyous celebration of life honoring the long list of SEO tactics and concepts we lost this year. Remember fondly the beautiful time you shared with defunct ideas like link building, keyword cannibalization, search volume as a value indicator, and even our most cherished of friends: the funnel. Make peace with their loss as you embrace a new paradigm for organic content: Pillar-Based Marketing. Along the way, discover that the results that old SEO and all its trappings brought you weren’t really very good at all, actually.
In this respectful and life-affirming service—erm, session—join Ryan Brock (Chief Solution Officer at DemandJump and author of Pillar-Based Marketing: A Data-Driven Methodology for SEO and Content that Actually Works) and leave with:
• Clear and compelling evidence that most legacy SEO metrics and tactics have slim to no impact on SEO outcomes
• A major mindset shift that eliminates most of the metrics and tactics associated with SEO in favor of a single metric that defines and drives organic ranking success
• Practical, step-by-step methodology for choosing SEO pillar topics and publishing content quickly that ranks fast
The Strategic Impact of Storytelling in the Age of AI
In the grand tapestry of marketing, where algorithms analyze data and artificial intelligence predicts trends, one essential thread remains constant — the timeless art of storytelling. As we stand on the precipice of a new era driven by AI, join me in unraveling the narrative alchemy that transforms brands from mere entities into captivating tales that resonate across the digital landscape. In this exploration, we will discover how, in the face of advancing technology, the human touch of a well-crafted story becomes not just a marketing tool but the very essence that breathes life into brands and forges lasting connections with our audience.
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The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
Dive deep into the cutting-edge strategies we're employing to revolutionize our web presence in the age of AI-driven search. As Gen Z reshapes the digital realm, discover how we can bridge the generational divide. Unlock the synergistic power of PPC, social media, and SEO, driving unparalleled revenues for our projects.
Customer Experience is not only for B2C and big box brands. Embark on a transformative journey into the realm of B2B customer experience with our masterclass. In this dynamic session, we'll delve into the intricacies of designing and implementing seamless customer journeys that leave a lasting impression. Explore proven strategies and best practices tailored specifically for the B2B landscape, learning how to navigate complex decision-making processes and cultivate meaningful relationships with clients. From initial engagement to post-sale support, discover how to optimize every touchpoint to deliver exceptional experiences that drive loyalty and revenue growth. Join us and unlock the keys to unparalleled success in the B2B arena.
Key Takeaways:
1. Identify your customer journey and growth areas
2. Build a three-step customer experience strategy
3. Put your CX data to use and drive action in your organization
Unlock the secrets to enhancing your digital presence with our masterclass on mastering online visibility. Learn actionable strategies to boost your brand, optimize your social media, and leverage SEO. Transform your online footprint into a powerful tool for growth and engagement.
Key Takeaways:
1. Effective techniques to increase your brand's visibility across various online platforms.
2. Strategies for optimizing social media profiles and content to maximize reach and engagement.
3. Insights into leveraging SEO best practices to improve search engine rankings and drive organic traffic.
In the face of the news of Google beginning to remove cookies from Chrome (30m users at the time of writing), there’s no longer time for marketers to throw their hands up and say “I didn’t know” or “They won’t go through with it”. Reality check - it has already begun - the time to take action is now. The good news is that there are solutions available and ready for adoption… but for many the race to catch up to the modern internet risks being a messy, confusing scramble to get back to "normal"
Trust Element Assessment: How Your Online Presence Affects Outbound Lead Gene...Martal Group
Learn how your business's online presence affects outbound lead generation and what you can do to improve it with a complimentary 13-Point Trust Element Assessment.
We’ve entered a new era in digital. Search and AI are colliding, in more ways than one. And they all have major implications for marketers.
• SEOs now use AI to optimize content.
• Google now uses AI to generate answers.
• Users are skipping search completely. They can now use AI to get answers. So AI has changed everything …or maybe not. Our audience hasn’t changed. Their information needs haven’t changed. Their perception of quality hasn’t changed. In reality, the most important things haven’t changed at all. In this session, you’ll learn the impact of AI. And you’ll learn ways that AI can make us better at the classic challenges: getting discovered, connecting through content and staying top of mind with the people who matter most. We’ll use timely tools to rebuild timeless foundations. We’ll do better basics, but with the most advanced techniques. Andy will share a set of frameworks, prompts and techniques for better digital basics, using the latest tools of today. And in the end, Andy will consider - in a brief glimpse - what might be the biggest change of all, and how to expand your footprint in the new digital landscape.
Key Takeaways:
How to use AI to optimize your content
How to find topics that algorithms love
How to get AI to mention your content and your brand
We will explore the transformative journey of American Bath Group as they transitioned from a traditional monolithic CMS to a dynamic, composable martech framework using Kontent.ai. Discover the strategic decisions, challenges, and key benefits realized through adopting a headless CMS approach. Learn how composable business models empower marketers with flexibility, speed, and integration capabilities, ultimately enhancing digital experiences and operational efficiency. This session is essential for marketers looking to understand the practical impacts and advantages of composable technology in today's digital landscape. Join us to gain valuable insights and actionable takeaways from a real-world implementation that redefines the boundaries of marketing technology.
Mastering Dynamic Web Designing A Comprehensive Guide.pdfIbrandizer
Dynamic Web Designing involves creating interactive and adaptable web pages that respond to user input and change dynamically, enhancing user experience with real-time data, animations, and personalized content tailored to individual preferences.
This session will aim to comprehensively review the current state of artificial intelligence techniques for emotional recognition and their potential applications in optimizing digital advertising strategies. Key studies developing AI models for multimodal emotion recognition from videos, images, and neurophysiological signals were analyzed to build content for this session. The session delves deeper into the current challenges, opportunities to help realize the full benefits of emotion AI for personalized digital marketing.
Can you kickstart content marketing when you have a small team or even a team of one? Why yes, you can! Dennis Shiao, founder of marketing agency Attention Retention will detail how to draw insights from subject matter experts (SMEs) and turn them into articles, bylines, blog posts, social media posts and more. He’ll also share tips on content licensing and how to establish a webinar program. Attend this session to learn how to make an impact with content marketing even when you have a small team and limited resources.
Key Takeaways:
- You don't need a large team to start a content marketing program
- A webinar program yields a "one-to-many" approach to content creation
- Use partnerships and licensing to create new content assets
Capstone Project: Luxury Handloom Saree Brand
As part of my college project, I applied my learning in brand strategy to create a comprehensive project for a luxury handloom saree brand. Key aspects of this project included:
- *Competitor Analysis:* Conducted in-depth competitor analysis to identify market position and differentiation opportunities.
- *Target Audience:* Defined and segmented the target audience to tailor brand messages effectively.
- *Brand Strategy:* Developed a detailed brand strategy to enhance market presence and appeal.
- *Brand Perception:* Analyzed and shaped the brand perception to align with luxury and heritage values.
- *Brand Ladder:* Created a brand ladder to outline the brand's core values, benefits, and attributes.
- *Brand Architecture:* Established a cohesive brand architecture to ensure consistency across all brand touchpoints.
This project helped me gain practical experience in brand strategy, from research and analysis to strategic planning and implementation.
2. The Marketing Audit
A marketing audit is a
systematic,
critical,
impartial
review and appraisal
of the basic goals and policies of the marketing
function, and of the organization, methods,
procedures, and personnel employed to implement
the policies and achieve the goals.
3. What is Marketing Audit
• The marketing audit is a fundamental part of the
marketing planning process. It is conducted not only at
the beginning of the process, but also at a series of
points during the implementation of the plan. The
marketing audit considers both internal and external
influences on marketing planning, as well as a review
of the plan itself.
4. The External Marketing Environment..
• What is the nature of competition in our target markets?
• Our competitors’ level of profitability.
• Their number/concentration.
• The relative strengths and weaknesses of competition.
• The marketing plans and strategies of our competition
5. A Review of Our Current Marketing Plan
• What are our current objectives for marketing?
• What are our current marketing strategies?
• How do we apply the marketing mix? (Including factors covered above in (a))
• Is the marketing process being controlled effectively?
• Are we achieving our marketing budget?
• Are we realising our SMART objectives?
• Are our marketing team implementing the marketing plan effectively?
6. The Marketing Audit Process (1)
1.
Determining
Who Does the
Audit
2.
Determining
When and
How Often
Audit Is
Conducted
3.
Determining
the Areas to
Be Audited
4.
Developing
Audit Forms
5.
Implementing
the Audit
6.
Presenting the
Results to
Management
7. The Marketing Audit Process (2)
1. The audit is conducted by company specialists, company division
or department managers, or outside specialists.
2. It may be done at the end of a calendar year, the of the annual
reporting year, or when doing a physical inventory.
3. A horizontal audit studies the overall performance of a firm,
emphasizing the interrelationship of variables. A vertical audit is
an in-depth analysis of one aspect of a firm’s marketing strategy.
4. Audit forms list the topics to be examined and the exact
information required to evaluate each topic.
5. Implementation decisions include: the timing and duration,
employee awareness, when and how audit is performed, and how
the audit report will be prepared.
6. Findings and recommendations are given to management.
9. CONSUMER BEHAVIOUR
• THE BEHAVIOUR THAT CONSUMERS DISPLAY IN SEARCHING
FOR, PURCHASING, USING, EVALUATING, AND DISPOSING OF
PRODUCTS AND SERVICES THAT THEY EXPECT WILL SATISFY
THEIR NEEDS.
• STUDY OF HOW INDIVIDUALS MAKE DECISIONS TO SPEND
THEIR AVAILABLE RESOURCES <TIME… MONEY…EFFORT> ON
CONSUMPTION RELATED ITEMS.
10. DEFINITION OF CONSUMER BEHAVIOUR
• Individual or groups of acquiring, using and disposing of
products, services, ideas or experiences.
• Includes search for information and actual purchase.
• Includes an understanding of consumer thoughts, feelings and
actions.
11. Reasons for studying consumer
behavior
• To stay in business by attracting and retaining customers.
• To benefit from understanding consumer problems.
• To establish competitive advantage
12. STUDY OF
• WHAT THEY BUY
• WHY THEY BUY IT
• WHEN THEY BUY IT
• WHERE THEY BUY IT
• HOW OFTEN THEY BUY IT
• HOW OFTEN THEY USE IT
14. I. Cultural factors
Cultural factors are coming from the different components
related to culture or cultural environment from which
the consumer belongs.
Culture and societal environment:-
• Culture is crucial when it comes to understanding the
needs and behaviors of an individual.
• Throughout his existence, an individual will be
influenced by his family, his friends, his cultural
environment or society that will “teach” him values,
preferences as well as common behaviors to their own
culture.
• For a brand, it is important to understand and take into
account the cultural factors inherent to each market or
to each situation in order to adapt its product and its
marketing strategy. As these will play a
role in the perception, habits, behavior or expectations
15. • McDonald’s is an example of adaptation to the specificities of each
culture and each market . Well aware of the importance to have
an offer with specific products to meet the needs and tastes of
consumers from different cultures, the fast-food giant has for
example: a McBaguette in France(with French baguette and Dijon
mustard), a Chicken Maharaja Mac and a Masala Grill Chicken in
India(with Indian spices).
• While all the ingredients used by McDonald’s in Arabic
and Muslim countries are certified halal. The fast food chain not
offering, of course any product with bacon or pork.
I. CULTURAL FACTORS
16. •Social factors are among the factors influencing consumer behavior
significantly. They fall into three categories: reference groups, family
and social roles and status.
Reference groups and membership groups :
•The membership groups of an individual are social groups to which he
belongs and which will influence him. The membership groups are
usually related to its social origin, age, place of residence, work, hobbies,
leisure, etc..
II. SOCIAL FACTORS
17. • For example, a teen may want the shoe model or Smartphone
used by the group of “popular guys” from his high school in order
to be accepted by this group.
• Some brands have understood this very well and communicate,
implicitly or not, on the “social benefit” provided by their products.
• Many brands look to target opinion leaders (initiator or
influencer) to spread the use and purchase of their product in a
social group. Either through an internal person of the group when
it comes to a small social group. Or through a sponsorship or a
partnership with a reference leader (celebrity, actor, musician,
athlete, etc..) for larger groups.
II. SOCIAL FACTORS
18. • Among the factors influencing consumer behavior,
psychological factors can be divided into 4 categories:
motivation, perception, learning as well as beliefs and
attitudes.
Motivation:
• Motivation is what will drive consumers to develop a
purchasing behavior. It is usually working at a
subconscious level and is often difficult to measure.
• Motivation is directly related to the need and is
expressed in the same type of classification as defined in
the stages of the consumer buying decision process.
• To increase sales and encourage consumers to purchase,
brands should try to create, make conscious or reinforce a
need in the consumer’s mind so that he develops a
purchase motivation. He will be much more interested in
considering and buy their products.
III PSYCHOLOGICAL FACTORS
19. Decisions and buying behavior are obviously also influenced by the
characteristics of each consumer.
Age and way of life:
• A consumer does not buy the same products or services at 20 or 70
years. His lifestyle, values, environment, activities, hobbies and
consumer habits evolve throughout his life.
• For example, during his life, a consumer could change his diet
from unhealthy products (fast food, ready meals, etc..) to a
healthier diet, during mid-life with family before needing to follow
a little later a low
• For a brand or a retailer, it may be interesting to identify,
understand, measure and analyze what are the criteria and
personal factors that influence the shopping behavior of their
customers in order to adapt.
IV. PERSONAL FACTORS
20. • The family is maybe the most influencing factor for an individual. It
forms an environment of socialization in which an individual will evolve,
shape his personality, acquire values. But also develop attitudes and
opinions on various subjects such as politics, society, social relations or
himself and his desires.
• But also on his consumer habits, his perception of brands and the
products he buys.
• We all kept, for many of us and for some products and brands, the
same buying habits and consumption patterns that the ones we had
known in our family.
FAMILY
21. • The position of an individual within his family, his work, his country
club, his group of friends, etc.. – All this can be defined in terms of role
and social status.
• A social role is a set of attitudes and activities that an individual is
supposed to have and do according to his profession and his position at
work, his position in the family, his gender, etc.. – and expectations of
the people around him.
• The social role and status profoundly influences the consumer
behavior and his purchasing decisions.
SOCIAL ROLES AND STATUS
22. • For example, a consumer may buy a Ferrari or a Porsche for the
quality of the car but also for the external signs of social success
that this kind of cars represents. Moreover, it is likely that a CEO
driving a small car like a Ford Fiesta or a Volkswagen Golf would
be taken less seriously by its customers and business partners
than if he is driving a German luxury car.
• And this kind of behaviors and influences can be found at every
level and for every role and social status.
• Again, many brands have understood it by creating an image
associated with their products reflecting an important social role
or status.
SOCIAL ROLES AND STATUS
23. What is Digital Marketing?
B Pharm + MBA : III Semester 2016
Marketing with the help of technology.
Digital marketing activities are:
Search engine optimization (SEO)
Pay Per Click(PPC)
Content Marketing
E-commerce marketing
Social media marketing
E–books, optical disks and games
It also extends to non-Internet channels that provide digital media, such as
mobile phones (SMS and MMS),and on-hold mobile ring tones.
24. What is Digital Marketing
• In simplistic terms, digital marketing is the promotion of products or
brands via one or more forms of electronic media. Digital marketing
differs from traditional marketing in that it involves the use of channels
and methods that enable an organization to analyze marketing
campaigns and understand what is working and what isn’t – typically in
real time.
• Digital marketers monitor things like what is being viewed, how often
and for how long, sales conversions, what content works and doesn’t
work, etc. While the Internet is, perhaps, the channel most closely
associated with digital marketing, others include wireless text messaging,
mobile instant messaging, mobile apps, podcasts, electronic billboards,
digital television and radio channels, etc.
25. Why Digital Marketing Is Important
• Digital media is so pervasive that consumers have access to
information any time and any place they want it. Gone are the days
when the messages people got about your products or services came
from you and consisted of only what you wanted them to know.
Digital media is an ever-growing source of entertainment, news,
shopping and social interaction, and consumers are now exposed not
just to what your company says about your brand, but what the
media, friends, relatives, peers, etc., are saying as well. And they are
more likely to believe them than you. People want brands they can
trust, companies that know them, communications that are
personalized and relevant, and offers tailored to their needs and
preferences.
26. Target of Digital Marketing in Pharma
B Pharm + MBA : III Semester 2016
The implementation of digital marketing can be done on:
Health Care Professionals
Patients
Sales Team
27. Why Is Digital Marketing Important?
B Pharm + MBA : III Semester 2016
Since internet has become an integral part of our lives,the world of pharma
is bound to have its own share of internet users.
As healthcare facilities establish point of access between physicians and
sales reps , industry has turned to other promotional methods and is
increasing use of e-marketing.
E-detailing and online events let the doctors update themselves whervever
and whenever they want rather than meeting the sales reps in the middle
of their busy schedules.
E-marketing can be carefully controlled and monitored.
28. Digital Marketing Strategies
B Pharm + MBA : III Semester 2016
Know Your Customer
One must know that to whom you are reaching out.
If your customer is a doctor, the marketing personel may use
scientific language to explain but the same may not be possible with a
patient or the end user.
29. B Pharm + MBA : III Semester 2016
Reach your customer.
Go beyond individual channel(Physical Appearance).
Through Social Media One can the needs of their customers
Eg. Sanofi has its own YouTube Channel,which helps them reach their
customers and help the company generate feedback and their needs.
30. B Pharm + MBA : III Semester 2016
Interact with the customers
Engage in Closed Loop Marketing Channels.
“Closed loop marketing”(CLM) is the process by which a
pharmaceutical company develops marketing strategies
and deploys them through one or more channels to reach
their customers (the prescribers) and gain a sound
understanding of what happens in the marketplace.
“Closing the loop” just means that sales teams report to
Marketing about what happened to the leads that they
received, which helps Marketing understands their best and
worst lead sources.
31. Digital Marketing Opportunities
Medical Portals for Health Care Professionals
If implemented properly,this concept can be a benefit to
both,company as well as HCP
Benefit to company:
o It reduces the overhead costs as it can serve the doctors centrally.
o Establishes a communication channel between company and physician.
o Minimal effect of vacant territory i.e. Even in the absence of sales rep,all the learnings are present in the
digital nervous system.
B Pharm + MBA : III Semester 2016
32. Benefit to the HCP:
o They can update and enjoy company services at their leisure rather than having to meet a pharma
rep at rush hours.
o Updated information of drugs on his desktop/phone everyday along with all other medical
updates.
o Saving time on searching for information from the internet.
B Pharm+MBA:III Semester 2016
33. Awareness portal for patients:
o More and more patients want to know and expect up-to-date information on their condition and
treatment,as well as alternative treatment option.
o For the patients the portals are made understandable.
B Pharm+MBA:III Semester 2016
34. Current Scenario And Challenges
Digital marketing in any sector is a more cost effective and less time
consuming method to communicate with the customers.
However,digital marketing comes with its own challenges:
Inadequate company vision: Most of the companies lack a proper vision for digital marketing
solutions. The strategies are not clearly defined.A strong management is required to set out
objectives.
A Digital Catastrophe : Many pharmaceutical companies have started implementing digital
chanels and campaigns ; however the marketeers in the field are unable to execute an overall
effective digital strategy . Increased data has resulted in difficulty of analysis.
35. Strict Regulations: The issue of regulations in each jurisdiction requires close examination prior to
any digital campaigns being launched. Life science sector faces more regulations than any other
sector. The pharmaceutical sector has to follow the FDA guidelines.
In 2010,FDA issued a warning letter to Novartis to pull back Facebook shares,as the risk
information about leukemia treatment drug tasigna provided was inadequate.
Poorly maintained websites
36. Awareness Knowledge Liking Preference Conviction Purchase
• To make a particular brand of a product. (It’s Ours)
• Availability in market. (Its there)
• To communicate point of purchase. (Where)
• To project the distinctive features of the product.(Why ‘use’)
• To justify the product.
• To take feedback. (What do you think )
• Change attitudes.
• Fasten the effects process.
Contd…
37. Integrated Marketing Communications
Major factors affecting change toward
segmented marketing
• Shift away from mass marketing
• Improvements in information technology
14-11
The New Marketing Landscape
38. Integrated Marketing Communications
The Shifting Marketing Communications Model
Less broadcasting and more narrowcasting
• Advertisers are shifting budgets away from network television to
more targeted cost-effective, interactive, and engaging media
14-12
39. Integrated Marketing Communications
The Need for Integrated Marketing Communications
Integrated marketing communication is the integration
by the company of its communication channels to
deliver a clear, consistent, and compelling message
about the organization and its brands
14-13
40. Integrated Marketing Communications
The Need for Integrated Marketing Communications
Integrated marketing communication calls for
recognizing all contact points (brand contact) where
the customer may encounter the company and its
brands
14-14
41. A View of the Communications Process
Integrated marketing communication
involves identifying the target audience
and shaping a well-coordinated
promotional program to obtain the
desired audience response
Marketers are moving toward viewing
communications as managing the
customer relationship over time
14-15
42. “ The process of developing and implementing various forms of
persuasive communication programs with customers and
prospects Over Time.”
IMC is the coordination and integration of all marketing
communication tools, and sources within a company that
maximizes the impact on consumers and other end users at a
minimal cost
› Entails the Planning, Creation, Integration, and Implementation of Diverse Forms of
Marketing Communications
› Goal of IMC is to Influence or Directly Affect the Behavior of the Targeted Audience.
› Same Communication Message through all the channels of Marketing Communications
43. The Need for IMC
• Conflicting messages from different sources or promotional approaches can confuse
company or brand images
• The problem is particularly prevalent when functional specialists handle individual forms of
marketing communications independently
44. Role of Integrated Marketing Communications
• Marketing communications …
• are the “voice” of the brand and are a means by which it can establish a
dialogue and build relationships with consumers.
• allow marketers to inform, persuade, incentivize, and remind consumers
directly or indirectly
• can contribute to brand equity by establishing the brand in memory and linking
strong, favorable, and unique associations to it.
21st-Century Integrated Marketing
• Integrated marketing must keep pace with the ever-changing world of
promotional innovations to help sell products and services
• Communications professionals also must be familiar with infomercials, movie
and TV product placements
Infomercial. Are program-length commercial
TV-Movie Product Placements. Product placement in films and TV shows
They are also known as “embedded advertisement”
They have become a more intergraded part of movies and TV shows
45. Finding New Ways to Build Brands
• Consumers are driving the trend
• They view brands as a form of self-expression
• They know more about brands and the companies that make them
• Cynicism about corporations is at an all-time high
• They seek and share information with other consumers via the Internet
• Get consumers involved
• Apple Computer lets consumers test products in store
• Starbucks positions stores as a community gathering place
• Interaction can be the best marketing
• MySpace
• Facebook
• Google
Benefits Of IMC
IMC Provides better
Trust among consumers.
Effectiveness level than single message strategies.
Brand differentiation.
Connection with the company.
46.
47. PROMOTION IS THE ELEMENT IN AN ORGANIZATION’S
MARKETING MIX THAT SERVES TO INFORM, PERSUADE,
AND REMIND THE MARKET REGARDING THE
ORGANIZATION AND/OR ITS PRODUCTS.
• It includes all the means by which a company
communicates directly with potential customers.
• It is an attempt to influence feelings, beliefs, or
behavior.
• A blend of communication media that is targeted
at creating some form of change (attitudinal /
behavioural) in the target audience.
48. Remember Models of Consumer Buying
Behaviour
Awareness
Interest
Evaluation
Trial
Adoption
Mass communication sources - television,
press/magazines, radio
Mass communication sources - press/
magazines television, radio
Personal sources - relatives, friends,
colleagues
Personal sources - sales people, relatives
friends
Personal sources and mass media
communication (for re-assurance).
49. KEY ELEMENTS OF THE PROMOTION MIX
• Advertising - any paid form of non personal communication of ideas
goods or services delivered through selected media channels
• Selling and Sales Management - the personal interface between a
company and its customers, aimed at achieving a sale.
• Personal selling: The direct presentation of a product to a prospective
customer by a representative of the selling organization.
• Sales promotion: Demand-stimulating activity designed to supplement
advertising and facilitate personal selling.
• Public relations: A planned communication effort by an organization to
contribute to generally favourable attitudes and opinions toward an
organization and its products.
• Publicity: A special form of public relations that involves news stories
about an organization or its products.
• Direct marketing - Direct communication using direct mail, telephone
response media and more recently the Internet
50. Promotional Tools
Personal Selling
Branding
Sales Promotion
Public relations
Merchandising
Direct Marketing
Exhibitions
Word of Mouth
Internal Marketing
Corporate Image
Packaging
Sponsorship
Advertising
The
Customer
52. • Defining marketing mix
• “ Marketing Mix is the set of controllable
tactical marketing tools that the firm
blends to produce the response it wants in
the market. The marketing mix consists of
everything the firm can do to influence the
demand for its product” Kotler 12th edition
• Thus, The marketing mix refers to the set of
actions, or tactics, that a company uses to
promote its brand or product in the market.
53. Marketing Mix
• The concept is simple. Think about another common mix - a cake mix.
All cakes contain eggs, milk, flour, and sugar. However, you can alter
the final cake by altering the amounts of mix elements contained in it.
So for a sweet cake add more sugar!
54. Marketing Mix
• It is the same with the marketing mix.
• The offer you make to your customer can be altered by varying the
mix elements.
• So for a high profile brand, increase the focus on promotion and
desensitize the weight given to price.
55. • Traditionally it is comprised of
• Product
• Price
• Place ( Placement)
• Promotion ( Communication)
• For ease of use Mccarthy named this as 4 ps.
57. • These elements in the Marketing Mix are in the control of
the marketer.
• Therefore marketing Mix is set of controllable elements (
tools) in the hands of the marketer to use to achieve
desired targets.
• In other words marketing Mix is used to influence the buyer
in the target market to create positive responses towards
the marketers product
58. ELEMENTS OF EXTENDED MARKETING MIX
•People were not buying only
tangible goods but they buy many
services such as services from
banks, insurance companies, hotels,
doctors, government agencies etc.
60. People
• Marketing organisation deals with many stake holders. All of
them are people
• Suppliers, distributors, customers, competitors,
government, authorities and many other organisations
• Their needs, values, attitudes are different
• The marketer has to identify them and treat them well to
deliver the promise that he or she makes.
61. Process
• Process is the ways and means the marketing
activity is delivered.
• Efficient processes have to be adopted in serving
customers
• Order taking, queuing and waiting time, issue of
estimates, completion of repairs and services,
notifying customers of service completion,
automation and computerization are aspects that
should be dealt in processes.
• If processes fail customer dissatisfaction will
appear and it will lead to loss of sales and business.
• Therefore, establishing service standards, capacity
development to accommodate customer demands,
managing customer contacts are process issues
that a marketer should bear in mind.
62. Physical evidence
• “Physical evidence gives the consumer to refer to and to show other
people if necessary. Since service products are usually intangible, the
consumer of ( say) an insurance policy will need some written evidence
of its existence in order to feel confident in the product”. Jim Blyth-
2005
• Physical evidence includes
• Tangible evidence of purchase
• Physical environment which surrounds the purchase
63. Seven Ps in the view point of marketer and the customer
• Marketer customer
• Product Customers value
• Price Cost
• Place Convenience
• Promotion Communication
• People Consideration
• Process Co-ordination
• Physical Evidence Confirmation
64. 7 Ps in operation
Satisfying
customer needs
profitably
Product
Physical
evidence
Process
People
Place
Promotion
Price
66. Distribution
• Most businesses are dependent on intermediaries to bring
their products to market
• Used to move the customer towards the product or the
product to the customer
• A set of mechanisms or networks is required via which a firm
“goes to market”
• A marketing channel performs the work of moving goods
from producers to consumers
• It overcomes the time, place, and possession barriers
67. Marketing Channel Management
‘’ Marketing Channels are sets of interdependent organizations involved in
the process of making a product or service available for use or
consumption.”
Philip Kotler
“All the organizations through which a product must pass between its point
of production and consumption“
A channel of distribution is an organized network or system of agencies and
institutions, which, in combination, perform all the activities required to
link producers with users and users with producers to accomplish the
marketing task
69. Channel Level
• Zero level channel
• Here the goods move directly from producer to consumer. That is, no
intermediary is involved. This channel is preferred by manufactures of
industrial and consumer durable goods.
• One level channel
• In this case there will be one sales intermediary ie, retailer. This is the most
common channel in case of consumer durable such as textiles, shoes, ready
garments etc.
70. Channel Level
• Two level channel
• This channel option has two intermediaries, namely wholesaler and retailer.
The companies producing consumer non durable items use this level.
• Three level channel
• This contains three intermediaries. Here goods moves from manufacture to
agent to wholesalers to retailers to consumers. It is the longest indirect
channel option that a company has.
73. IMC Defined
Integrated Marketing Communications (IMC):
“is the coordination and integration of all marketing communications tools,
avenues, and sources within a company into a seamless program that
maximizes the impact on consumer and other end users at a minimal cost.”
Clow and Baack, 2004, p.8
74. Elements of Marketing Communications
• Advertising
• Sales Promotion
• Personal Selling
• DRM (Direct Response Marketing)
• PR (Public Relations)
We will cover these in more detail…
75. Need for IMC
• Market fragmentation has resulted in media fragmentation
• Alternative media channels abound
(e.g. mags, cd catalogues, internet sites, kiosks…)
• All messages seen as one single message to consumer
NOTE: IMC builds a strong brand identity in the marketplace by tying together and
reinforcing all your images and messages.
(Armstrong et. al., 2007, p.470)
76. Promotion Mix Strategies
• PUSH vs. PULL
• PUSH
Producer marketing activities to Retailers and Wholesalers who resell to Consumers
• Personal selling, trade promotion by producer and personal selling, advertising and sales
promotion by wholesaler/retailer…
• PULL
Producer marketing activities directed at consumer to create demand from retailers and
wholesalers that then creates demand from producer.
• Consumer advertising, sales promotion…
77. Advertising
• Mass media advertising reaches large numbers
geographically dispersed at low cost per exposure with
ability to repeat message with frequency
• PROCESS:
1. Set objectives
2. Develop strategy
• Message strategy
• Message execution
• Slice of life, lifestyle, fantasy, mood, musical, symbolic, technical
expertise, scientific, testimonial (see page 478-479)
3. Select media (reach, frequency, impact)
4. Evaluate advertising
78. Sales Promotion
Short term incentives designed by marketers for the purpose of encouraging the
purchase of a product.
• Consumer promo tools:
• Samples, coupons, rebates, price packs, premiums, ad specialties, loyalty programs, point-of-
purchase displays/demos, and contests/sweepstakes
• Business promo tools:
• conventions/trade shows and sales contests
79. Personal Selling
• Involves two way personal communications (compared to other IMC tools that
are one-way impersonal)
• Organization:
• Territorial, Product, Customer types, Outside vs. inside sales, and team selling
• Process:
• Prospect, pre-approach, approach, present, handle objections, close, follow-up
• Relationship Marketing:
• Process of creating, maintaining, and enhancing strong, value-laden relationships with
customers and other stakeholders.
80. Types of Sales Representatives
1. Deliverer
2. Order taker
3. Medical Representative
4. Contract Sales Person
5. Retailer salesperson
82. Workload Approach to Determining Sales Force Size
• Customers are grouped into size classes
• Desirable call frequencies are established
• Number of accounts/doctors in each size class
multiplied by call frequency
• Number of retail pharmacies targeted
• Average number of calls possible per month
established
• Number of reps equal to total monthly calls required
divided by number possible
83. Components of Sales Force Compensation
• Fixed amount
• Variable amount - incentives
• Expense allowance
• Benefits
84. Managing the Sales Force
Recruiting
Selecting
Training
Supervising
Motivating
Evaluating
85. Social Media In Pharma
• Marketing: Social media can be used as another channel of
communications to share press releases on new drugs, devices,
features, clinical trial results, etc. Social media also can help the
industry “toot their own horn” and build trust when it comes to
community service, major investments in charities and their
commitment to develop new and better treatments for a particular
disease process.
86. Social Media In Pharma
• Education: Firms may offer disease-specific educational information
aimed at consumers. This information should present topics broadly
and be relatively non-biased. The goal is to help patients understand
their disease so that they may better engage with their healthcare
providers to improve outcomes
87. Social Media In Pharma
• Connection with Customers/Patients: One powerful way the industry
can use social media is to create patient support groups and
communities. These allow like-minded patients to connect and
interact—often discussing the benefits of a particular treatment,
hospital, doctor, etc.
88. Social Media In Pharma
• Connection with Physician-Customers: Pharma can conduct Twitter
chats with physician-customers, an efficient means of education
without the expense (and annoyance) of drug reps in the office
disrupting the flow of a busy day with patients. Pharma can engage a
large number of physicians at one time with pharma’s own best and
brightest scientists and researchers.
89. Social Media In Pharma
• Clinical trials: One of the biggest barriers (and expenses) to the
completion of a clinical trial is enrollment. Nearly 30% of time is spent
on recruitment and almost 40% of sites miss enrollment targets. I
believe that social media can become a powerful enrollment tool. A
recent study showed that social media can effectively bolster
enrollment and help researchers achieve enrollment goals in less time
with less expense.
90. Social Media In Pharma
• Listening: Social listening can be very powerful. Pharma can identify
unmet needs to innovate and figure out where R&D dollars should go.
By listening, an individual company can get an idea for what types of
programming is already present in the social space—and how to
better innovate and do something new. In addition, social listening
can allow a company to learn from the mistakes of competitors.
91. I Will Succeed
•Porter’s Five Forces Model
The Porter's Five Forces tool is a simple but powerful tool
for understanding where power lies in a business
situation. This is useful, because it helps you understand
both the strength of your current competitive position,
and the strength of a position you're considering moving
into.
Conventionally, the tool is used to identify whether new
products, services or businesses have the potential to be
profitable
92. I Will Succeed
•Porter’s Five Forces Model
• Supplier Power
• Here you assess how easy it is for suppliers to drive up
prices. This is driven by the number of suppliers of each
key input, the uniqueness of their product or service, their
strength and control over you, the cost of switching from
one to another, and so on.
• The fewer the supplier choices you have, and the more
you need suppliers' help, the more powerful your
suppliers are.
93. I Will Succeed
•Porter’s Five Forces Model
• Buyer Power
• Here you ask yourself how easy it is for buyers to drive
prices down. Again, this is driven by the number of
buyers, the importance of each individual buyer to your
business, the cost to them of switching from your
products and services to those of someone else, and so
on.
• If you deal with few, powerful buyers, then they are often
able to dictate terms to you.
94. I Will Succeed
•Porter’s Five Forces Model
• Competitive Rivalry
• What is important here is the number and capability of your
competitors. If you have many competitors, and they offer
equally attractive products and services, then you'll most likely
have little power in the situation, because suppliers and buyers
will go elsewhere if they don't get a good deal from you. On
the other hand, if no-one else can do what you do, then you
can often have tremendous strength.
95. I Will Succeed
•Porter’s Five Forces Model
• Threat of Substitution
• This is affected by the ability of your customers to find a
different way of doing what you do – for example, if you
supply a unique software product that automates an
important process, people may substitute by doing the
process manually or by outsourcing it.
• If substitution is easy and substitution is viable, then this
weakens your power.
96. I Will Succeed
•Porter’s Five Forces Model
• Threat of New Entry
• Power is also affected by the ability of people to enter
your market. If it costs little in time or money to enter
your market and compete effectively, if there are few
economies of scale in place, or if you have little protection
for your key technologies, then new competitors can
quickly enter your market and weaken your position.
• If you have strong and durable barriers to entry, then you
can preserve a favorable position and take fair advantage
of it.
99. Product Mix
• The Product Mix as defined by AMA is “the full set of
products offered for sale by an organization. It includes all
product lines and categories.
• It may be defined more narrowly in specific cases to mean
only that set of products in a particular product line or a
particular market.
101. Product Mix
• Four important dimensions of a product mix can be
identified. These are: width, length, depth, and
consistency.
• Product mix width -The width is all about the number of
different product lines the company carries
• The product mix length refers to the total number of
items a company carries within the product lines
• Product mix depth - It refers to the number of versions
offered for each product in the product line.
• Consistency refers to how closely related the product lines
are in terms of end use, production requirements,
distribution channels or any other way
102. What Is a Market Segment?
A market segment consists of a group
of customers who share a similar set of
needs and wants.
104. Geographic Segmentation
Geographic segmentation divides the market
into geographical units such as nations,
states, regions, counties, cities, or
neighborhoods. The company can operate in
one or a few areas, or it can operate in all
but pay attention to local variations.
105. Demographic Segmentation
• Age and life cycle
• Life stage
• Gender
• Income
• Generation
• Social class
• Race and Culture
108. STP
• The market segmentation, targeting and positioning (STP) process is a
fundamental concept in understanding marketing and the strategies of
firms.
110. Define The market
• First step is to clearly define the market that the firm is interested in. This may sound
relatively straightforward but it is an important consideration.
• For example, when Coca-Cola looks at market segmentation they would be unlikely to
look at the beverage market overall.
• Instead they would look at what is known as a sub-market (a more product-market
definition). A possible market definition that Coca-Cola could use might be diet cola
soft drinks in India.
• It is this more precise market definition that is segmented, not the overall beverage
market, as it is far too generic and has too many diverse market segments
111. Create Market Segments
• Once the market has been defined, the next step is to segment the market, using a
variety of different segmentation bases/variables in order to construct groups of
consumer. In other words, allocate the consumers in the defined market to similar
groups (based on market needs, behavior or other characteristics)
112. Evaluate the segments for viability
• After market segments have been developed they are then evaluated using a set criteria
to ensure that they are useable and logical. This requires the segments to be assessed
against a checklist of factors, such as: are the segments reachable, do they have
different groups of needs, are they large enough, and so on.
113. Construct segment profiles
• Once viable market segments have been determined, segment
profiles are then developed. Segment profiles are detailed
descriptions of the consumers in the segments – describing
their needs, behaviors, preferences, demographics, shopping
styles, and so on. Often a segment is given a descriptive
nickname by the organization. This is much in the same way
that the age cohorts of Generation X and Generation Y have a
name.
114. Evaluate the attractiveness of each segment
• Available market data and consumer research findings are then are added to the
description of the segments (the profiles), such as segment size, growth rates, price
sensitivity, brand loyalty, and so on. Using this combined information, the firm will
then evaluate each market segment on its overall attractiveness. Some form of scoring
model will probably be used for this task, resulting in numerical and qualitative scores
for each market segment.
115. Select target market/s
• With detailed information on each of the segments now available, the firm then
decides which ones are the most appropriate ones to be selected as target markets.
There are many factors to consider when choosing a target market. These factors
include: firms strategy, the attractiveness of the segment, the competitive rivalry of the
segment, the firm’s ability to successfully compete and so on.
116. Develop positioning strategy
• The next step is to work out how to best compete in the selected target market. Firms
need to identify how to position their products/brands in the target market. As it is
likely that there are already competitive offerings in the market, the firm needs to
work out how they can win market share from established players. Typically this is
achieved by being perceived by consumers as being different, unique, superior, or as
providing greater value.
117. Develop and implement the marketing mix
• Once a positioning strategy has been developed, the firm moves to implementation.
This is the development of a marketing mix that will support the positioning in the
marketplace. This requires suitable products need to be designed and developed, at a
suitable price, with suitable distribution channels, and an effective promotional
program.
118. Review performance
• After a period of time, and on a regular basis, the firm needs to revisit the performance
of various products and may review their segmentation process in order to reassess
their view of the market and to look for new opportunities.
119. Promotion
• As part of the marketing mix, promotion includes
all activities that involve communicating with the
customer about the product and its benefits and
features. Once a company has worked on the
product and price elements, it is time to start a
conversation with the consumer about the
product. This includes raising awareness through
different mediums to increase sales, as well as to
create and foster brand loyalty.
120. Role of Promotion
• Promotion is the communication aspect of the marketing mix. It is
creating a channel for conversation with the targeted consumer base.
Through promotion, the company aims to attract the customer’s
attention and give them enough information about the product to
foster enough interest to motivate them to purchase.
122. • Push Strategies
• As the name indicates, this is when the product is taken to the
customer by the company. This is mostly used when the
product is an impulse purchase or if the company has an
established relationship with the customer base. Companies
may sell directly from their showrooms or at tradeshows etc.
Essentially, there is less need to create an advertising buzz and
more to make the product readily available at retail outlets
and showrooms. Push marketing may focus primarily on short
term sales.
123. • Pull Strategies
• In the opposite approach, there is an attempt to pull customers towards the
brand or product. Through mass media campaigns to sales promotions and
personal references, a company attempts to create brand loyalty and
attractiveness. Pull strategies may attempt to focus primarily on long term brand
loyalty then high sales in the short term. A lot of media hype and mass campaigns
are required to create sufficient interest and encourage customers to seek out
the product on their own.
124. The Role of Brands
• Identify the maker
• Simplify product handling
• Organize accounting
• Offer legal protection
125. The Role of Brands
• Signify quality
• Create barriers to entry
• Serve as a competitive advantage
• Secure price premium
127. What Is Brand Equity?
Brand equity is the added value endowed on
products and services, which may be reflected in
the way consumers, think, feel, and act with
respect to the brand.
128. Advantages of Strong Brands
• Improved perceptions of
product performance
• Greater loyalty
• Less vulnerability to
competitive marketing
actions
• Less vulnerability to crises
• Larger margins
• More inelastic
consumer response
• Greater trade
cooperation
• Increased marketing
communications
effectiveness
• Possible licensing
opportunities
132. Product Mix
• Product Mix:
• The total assortment of products and
services marketed by a firm.
• Product Line:
• A group of individual products that are
closely related in some way.
• Individual Product:
• Any brand or variant of a brand in a
product line.
133. Product Mix Characteristics
• Product Mix Width:
• The number of product lines in the
product mix.
• Product Line Length:
• The number of products in a product
line.
• Product Mix Consistency:
• The relatedness of the different
product lines in a product mix.
134. Individual Product Strategies
• Product Life Cycle (PLC):
• Describes the advancement of products through
identifiable stages of their existence.
Introductory
Stage
Growth
Stage
Maturity
Stage
Decline Stage
Total
Market
Sales
Time
135. The Product Life Cycle
Introductory
Stage
Growth
Stage
Maturity
Stage
Decline Stage
Total
Market
Sales
Time
136. The Product Life Cycle Concept is
Based on Four Premises
Products have a
limited life.
Product sales pass through
distinct stages, each with
different marketing
implications.
Profits from a product
vary at different stages
in the life cycle.
Products require different
strategies at different
life cycle stages.
141. Introductory Stage
• High failure rates
• Little competition
• Frequent product modification
• Limited distribution
• High marketing and production costs
• Negative profits
• Promotion focuses on awareness and
information
• Intensive personal selling to channels
Full-Scale Launch
of New Products
142. • Increasing rate of sales
• Entrance of competitors
• Market consolidation
• Initial healthy profits
• Promotion emphasizes brand ads
• Goal is wider distribution
• Prices normally fall
• Development costs are recovered
Offered in more
sizes,
flavors, options
Growth stage
143. • Declining sales growth
• Saturated markets
• Extending product line
• Stylistic product changes
• Heavy promotions to dealers and consumers
• Marginal competitors drop out
• Prices and profits fall
• Niche marketers emerge
Many consumer
products are in
Maturity Stage
Maturity Stage
144. • Long-run drop in sales
• Large inventories of
unsold items
• Elimination of all nonessential
marketing expenses
Rate of decline depends on
change in tastes or
adoption of substitute products
Decline Stage
145. PLC Length and Shape
Sales Sales Sales
TimeTime Time
Style Fashion Fad
146. PLC Marketing Strategies
Stage Objective Marketing Strategy
Introduction Awareness & trial Communicate benefits
Growth Usage of firm’s brand Specific brand communication,
lower prices, expand distribution
Maturity Maintain market share Sales promotion, drop price,
Extend life cycle expand distribution, new uses
& new versions of product
Decline Decide what to do Maintain, harvest, or divest
with product
147. MANAGING THE PRODUCT LIFE CYCLE
Alter product quality
Enhance performance
Change appearance
• Modifying the Product
• Modifying the Market
Finding New Users
Increase use
Create new use situations
148. EXTENDING THE PRODUCT LIFE CYCLE-
Repositioning
• Trading Up-add bells & whistles to raise price
• Trading Down- remove bells & whistles to lower price
• Downsizing-reduce contents but maintain price
Reacting to a Competitor’s Position-never compete
head on
Catching a Rising Trend-baby aspirin is now low dose
aspirin to reduce heart attacks
Changing the Value Offered
149. Limitations of the PLC
1. The life cycle concept applies best to product
forms rather than to classes of products or
specific brands.
2. The life cycle concept may lead marketers to think
that a product has a predetermined life, which
may produce problems in interpreting sales and
profits.
3. It is only a descriptive way of looking at the
behavior of a product and the life cycle can not
predict the behavior of a product.