Professional Documents
Culture Documents
PRINCIPLES OF MARKETING
NAME :- AHMAD HASAN
CLASS : B.COM
Service Categories
Service industry seems to be more complicated than the
manufacturing industry. The services can be either tangible or
intangible; people-oriented or product oriented.
Customer Oriented
In the service industry, customization of the product offering
becomes essential as compared to that of the manufacturing
industry. The customer’s needs, perception and requirements are
given significance while carrying out the business operations in as
a service provider.
Single Take
Service is a one-take action, i.e., it cannot be restored, redone,
replaced or exchanged. It is intangible and irreversible; thus, it
needs to be perfect and well-delivered for the first time it self. An
organization, therefore, requires trained and experienced
personnel to provide services because a lousy consumer
experience may lead to negative publicity, which affects the brand
name and equity.
Characteristics of Service Marketing
Services are very different from goods or tangible
products, and so is its marketing needs. The general
marketing strategies may not apply to the marketing of
intangible products.
Some of the basic features which differentiate service
marketing from the usual marketing are as follows:
Intangibility
The service is considered as an intangible product which cannot
be seen or touched or physically felt but can only be experienced.
No Stock Maintenance
The services are intangible and are provided then and there; thus,
unlike products, no inventory needs to be maintained in such
cases. The profitability in the service industry depends upon the
excellence of the service provider and business operations.
The service marketing mix constitutes of these elements along with the
traditional marketing mix elements, i.e., product, price, promotion and
place.
The employees are introduced to the organizational goals, and their queries
or problems are resolved. The best performers are even appreciated
through the performance reward system.
External Marketing
This is the direct form of service marketing. Here the company reaches out to the
target consumers through website, advertisements, social media and other
relevant platforms, to keep the business rolling.
Interactive Marketing
One of the most crucial marketing tasks is the actual delivery of services to
the consumer by the employees. The success of interactive marketing
depends upon the proper execution of internal and external marketing. The
employees aim at consumer satisfaction, long-term association and
customer retention in interactive marketing. The image of the company is
in the hands of the employees.
2.RURAL MARKETING
Definition:
The Rural Marketing refers to the activities undertaken by
the marketers to encourage the people, living in rural
areas to convert their purchasing power into an effective
demand for the goods and services and making these
available in the rural areas, with the intention to improve
their standard of living and achieving the company’s
objective, as a whole.
The Rural Marketing is a two-way process, i.e.,
Widespread adoption of the internet for business and personal use has
generated new channels for advertising and marketing engagement,
including those mentioned above. There are also many benefits and
challenges inherent to online marketing, which uses primarily digital
mediums to attract, engage, and convert virtual visitors to customers.
After that, you need to make a choice about how to construct an online
presence that helps you achieve that goal and create corresponding a
marketing strategy for these channels. Maybe you need to set up an e-
commerce site. If you’re interested in blogging to drive awareness and
subscribers, look into setting up a blog and strategize on how to create
great content that would encourage sharing on social media channels.
Partnering with a customer that is willing to evangelize your business by
creating a case study or infographic can be powerful social proof as
customers are evaluating your company. A simple website or landing
page with a lead capture form can help you start developing your brand
and generating traffic. A basic analytics platform (like Google Analytics,
which is free) can help you start to measure how you are tracking your
marketing efforts towards your initial goal.
Disambiguation
4. GREEN MARKETING
Green marketing is the process of promoting products or services
based on their environmental benefits. These products or services
may be environmentally friendly in themselves or produced in an
environmentally friendly way.
Learn more about green marketing to see its role in business and
contributions to environmental sustainability.
They may choose to highlight how their products are all made
from recycled material, how their products are designed to be
recycled or reused, their use of biodegradable packaging, or a
combination of the three. It's also common to find larger
corporations that participate in various programs that aim to
increase company-wide recycling, decrease waste disposal, and
support community initiatives.
Both grocers and restaurants are known for their green marketing.
For grocers that advertise organic produce, organic food sales
have more than doubled since 2010 as consumers increasingly
prefer non-genetically modified foods free of pesticides.3
Restaurants that promote locally sourced meats, produce, and
alcohol are thriving. Local sourcing is attractive to consumers as it
projects an image of sustainability and willingness to invest in the
community
5.SOCIAL MARKETING
The health communications field has been rapidly changing over
the past two decades. It has evolved from a one-dimensional
reliance on public service announcements to a more sophisticated
approach which draws from successful techniques used by
commercial marketers, termed "social marketing." Rather than
dictating the way that information is to be conveyed from the top-
down, public health professionals are learning to listen to the
needs and desires of the target audience themselves, and
building the program from there. This focus on the "consumer"
involves in-depth research and constant re-evaluation of every
aspect of the program. In fact, research and evaluation together
form the very cornerstone of the social marketing process.
Campaigns take longer to change behavior Shorter time needed to sell a product
Comsumer involvement and commitment needed
Shorter term commitment and involvement
Approach
Social marketing is a systematic and planned process. It follows
six steps
Product
The social marketing "product" is not necessarily a physical
offering. A continuum of products exists, ranging from tangible,
physical products (e.g., condoms), to services (e.g., medical
exams), practices (e.g., breastfeeding, ORT or eating a heart-
healthy diet) and finally, more intangible ideas (e.g.,
environmental protection). In order to have a viable product,
people must first perceive that they have a genuine problem, and
that the product offering is a good solution for that problem. The
role of research here is to discover the consumers' perceptions of
the problem and the product, and to determine how important
they feel it is to take action against the problem.
Price
"Price" refers to what the consumer must do in order to obtain the
social marketing product. This cost may be monetary, or it may
instead require the consumer to give up intangibles, such as time
or effort, or to risk embarrassment and disapproval. If the costs
outweigh the benefits for an individual, the perceived value of the
offering will be low and it will be unlikely to be adopted. However,
if the benefits are perceived as greater than their costs, chances
of trial and adoption of the product is much greater.
In setting the price, particularly for a physical product, such as
contraceptives, there are many issues to consider. If the product
is priced too low, or provided free of charge, the consumer may
perceive it as being low in quality. On the other hand, if the price
is too high, some will not be able to afford it. Social marketers
must balance these considerations, and often end up charging at
least a nominal fee to increase perceptions of quality and to
confer a sense of "dignity" to the transaction. These perceptions
of costs and benefits can be determined through research, and
used in positioning the product.
Place
"Place" describes the way that the product reaches the consumer.
For a tangible product, this refers to the distribution system--
including the warehouse, trucks, sales force, retail outlets where it
is sold, or places where it is given out for free. For an intangible
product, place is less clear-cut, but refers to decisions about the
channels through which consumers are reached with information
or training. This may include doctors' offices, shopping malls,
mass media vehicles or in-home demonstrations. Another
element of place is deciding how to ensure accessibility of the
offering and quality of the service delivery. By determining the
activities and habits of the target audience, as well as their
experience and satisfaction with the existing delivery system,
researchers can pinpoint the most ideal means of distribution for
the offering.
Promotion
Finally, the last "P" is promotion. Because of its visibility, this
element is often mistakenly thought of as comprising the whole of
social marketing. However, as can be seen by the previous
discussion, it is only one piece. Promotion consists of the
integrated use of advertising, public relations, promotions, media
advocacy, personal selling and entertainment vehicles. The focus
is on creating and sustaining demand for the product. Public
service announcements or paid ads are one way, but there are
other methods such as coupons, media events, editorials,
"Tupperware"-style parties or in-store displays. Research is
crucial to determine the most effective and efficient vehicles to
reach the target audience and increase demand. The primary
research findings themselves can also be used to gain publicity
for the program at media events and in news stories.
6.DIRECT MARKETING
Touch Branding
COMPLETE