Professional Documents
Culture Documents
MODULE D
C AIIB
What is Marketing…??
Selling?
Advertising?
Promotions?
Making products available in stores?
Maintaining inventories?
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Marketing = ?
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3
Marketing = ?
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4
Simple Marketing System
Communication
Goods/services
Industry Market
(a collection (a collection
of sellers) of Buyers)
Money
Information 5
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Marketing = ?
Marketing is the sum of all activities that take you to a
sales outlet. After that sales takes over.
Marketing is all about creating a pull, sales is all about
push.
Marketing is all about managing the four P’s –
product
price
place
promotion
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The 4 Ps & 4Cs
Marketing Convenience
Mix
Place
Product
Customer
Solution Price Promotion
Customer Communication
Cost
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Difference
Difference Between
Between -- Sales
Sales &
&
Marketing
Marketing ??
Sales
trying to get the customer to want what the
company produces
Marketing
trying to get the company produce what the
customer wants
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Scope – What do we market
Goods
Services
Events
Experiences
Personalities
Place
Organizations
Properties
Information
Ideas and concepts
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Core Concepts of
Marketing
Based on :
Needs, Wants, Desires / demand
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Core Concepts of Marketing
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Core Concepts of Marketing
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In order to understand Marketing let us begin
with the Marketing Triangle
Customers
Company Competition
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Who is a Customer ??
CUSTOMER IS . . . . .
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Customer –
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How Do Consumers Choose Among
Products & Services?
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Customers - Problem
Solution
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Customer looks for Value
Value = Benefit / Cost
Benefit = Functional Benefit + Emotional
Benefit
Cost = Monetary Cost + Time Cost +
Energy Cost + Psychic Cost
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Analysis Of Competition
Who are your competitors?
What are their strengths and weaknesses?
What have been their strategies?
How are they likely to respond to your
Marketing plan?
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Strategic Marketing
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Strategic Planning
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The Strategic-Planning, Implementation,
and Control Process
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Business Strategic-Planning
Process
External environment
(Opportunity &
Threat analysis)
Internal Environment
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Strategy Formulation
Environmental Analysis
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Firm Strategies
The Marketing Plan
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CONTENTS of MARKETING PLAN
Business Mission Statement
Objectives
Situation Analysis (SWOT)
Marketing Strategy
Target Market Strategy
Marketing Mix
Positioning
Product
Promotion
Price
Place – Distribution
People
Process
Implementation, Evaluation and Control
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The Marketing Process
Business
Mission
Stateme
nt
Objectiv
es
Situation
or SWOT
Analysis
Marketing Strategy
Target Market
Strategy
Marketing Mix
Product Place/Distribution
Promotion Price
Implementation
Evaluation,
Control 27
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Marketing Environment
Why a product like radio
declined and now once again
emerging as an entertainment
medium ?
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What Were the Drivers of This Change ?
Technology ?
Government policy ?
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Why Market Leaders
Suffered ?
HMT vs. Titan
HLL vs. Nirma
Bajaj vs. Honda
Dot.com boom, then bust and now resurgence
Market leadership today cannot be taken for
granted.New and more efficient companies are able to
upstage leaders in a much shorter period.
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Factors
Influencing
Company’s
Marketing
Strategy
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External
External Marketing
Marketing Environment
Environment
External Environment
Social
Social Ever-Changing
is not controllable Change
Change Marketplace
Demographics
Demographics
Economic
Economic
Product
Product Physical / Natural Conditions
Distribution Conditions
Distribution
Promotion
Promotion
Price
Price
Competition
Competition Target Market
Political
Political&&
Legal
LegalFactors
Factors
Technology
Technology
Environmental
Scanning
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The macro-environment
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P
P rr oo dd uu cc tt
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Product is . . . . .
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Types of Products
PRODUCTS
Consumer Industrial
Services
Products Products
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Product Items, Lines, and Mixes
A
A specific
specific version
version of
of aa product
product
that
that can
can be
be designated
designated as as aa
Product
Product Item
Item distinct
distinct offering
offering among
among anan
organization’s
organization’s products.
products.
A
A group
group of
of closely-related
closely-related
Product
Product Line
Line product
product items.
items.
All
All products
products that
that an
an
Product
Product Mix
Mix organization
organization sells.
sells.
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Product Mix
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Gillette’s Product Lines & Mix
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What is a Service?
Defining the Essence
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Some Industries - Service
Sector
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Classification of Services
Pure Intangible
Banking
Service
Good Transportation
Computers
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The Marketing Mix
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The “8Ps” of Integrated Service
Management vs. the Traditional
“4Ps”
► Product elements
► Place, cyberspace, and time
► Process
► Productivity and quality
► People
► Promotion and education
► Physical evidence
► Price and other user outlays
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The Give and Get of Marketing
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Great Words on Marketing
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Drivers of Customer Satisfaction
Many aspects of the firm’s value proposition contribute
to customer satisfaction:
The core product or service offered
Support services and systems
The technical performance of the firm
Interaction with the firm and it employees
The emotional connection with customers
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Marketers and Markets
Marketers are focused on stimulating
exchanges with customers who make up
markets – B2C or B2B.
The market is comprised of people who play
a series of roles: decision makers,
consumers, purchasers, and
influencers.
It is absolutely essential that marketers
have a detailed understanding of
consumers, their needs and wants.
Much happens before and after the sale to
affect customer satisfaction
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Stages of Customer Interaction
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What Changed in Marketing…
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Are
Are Banks
Banks truly
truly
marketing-savvy
marketing-savvy and
and
customer
customer -- centric?
centric?
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Myth 1 – The larger the range of products, the
more customer-centric I am.
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Myth 2 – Better technology (read CRM) leads to
better customer service.
Mythbuster – Technology
alone does not deliver,
helps people do.
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Myth 3 – Launch a product and the customer will start
using instantly.
- Give a customer a card and he will learn how to play
with it immediately
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Myth 4 – The only way to get a customer is
from
competition.
Mythbuster – Customers
are not only present
where competition is.
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Myth 5 – Just advertise and - You will sell.
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Myth 7 – In the absence of relationships ‘trust’
builds financial brands
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So
So what
what will
will the
the differentiators
differentiators be
be ::
• Technology ?
• Brand ?
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The real differentiator of
customer – centricity in a
commoditised world of
financial products -
Customer Service !
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Thank You
sagarnarsian@yahoo.com
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