#LifeKoKaroLift

Knowledge session

09/01/21
 Course : Marketing
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Lecture On : Introduction to
Marketing
Instructor : Garima Pande

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Today’s Agenda

1 What is Marketing ?
2 Importance of marketing
3 STP
4 Marketing Mix
5 Examples and Q&A

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What is marketing?

"The science of choosing target markets and keeping and growing customers through creating, delivering and
communicating customer value.

“The management process that seeks to maximise returns to shareholders by developing relationships with valued
customers and creating a competitive advantage”

Philip Kotler defined marketing as "Satisfying needs and wants through an exchange process” and a decade later defines
it as “a social and managerial process by which individuals and groups obtain what they want and need through
creating, offering and exchanging products of value with others.”

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Importance of Marketing

Effective marketing is one of the key aspects of the success of a business. Marketing helps generate revenue and build
long-term relationships with customers. It is an ongoing process that begins when a company decides to introduce an
idea or a product in the market, and continues throughout the product's life cycle

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Journey of Marketing
Era Activities

•The market was a combination of supply and demand for a

product.
Simple Trade Era
•It had few to no competitors.
•Supply was limited and industries produced only one product at a
time.
•Mass production of goods was undertaken.
Production Era •Demand became secondary.
•This era was in line with the Industrial Revolution.

•After the Industrial Revolution, products were produced at high

Sales Era
rates; hence, selling them became important.
•Human-to-human marketing was adopted widely.

Relationship Marketing Era •Consumers’ expectations became a priority.

•Companies started creating dedicated marketing departments.

•This is the current era of marketing.

Digital Marketing Era
•Advancing technology has given customers the option to choose
the best product from a wide range of options.

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Bata

- We grew up hearing about the footwear brand.

- Acquired the tag of being a brand catering to the older generation.
- Realised that this needed to change

To attract the younger generation in the country, Bata launched ads with young and dynamic celebrities.
Extended its distribution channels by opening exclusive outlets for brands
- Hush Puppies
- Power

Bata also entered the online market by selling its products on Amazon, Myntra and Flipkart.

What was the result of this?

Bata was successful in changing its image of being a brand that caters to the older generation to one catering to the
young and stylish generation.

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Cinthol

1980 2000 2013

- Vinod khanna - Family – centric soap - Youth – centric soap

- Imran Khan - Lime based variant - Alive is awesome
- Focus on masculinity - Changed packaging to - Targeted men, youth and
* LUX came in as a brand attract families families
- Tan taaza - Change in packaging

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Understanding customers as marketers

“Customer is King ” Impact

- Drive content creation - Effective marketing strategies

- Product development - Content – engagement
- Sales follow up - High quality leads
- Customer acquisition - Customer centricity
- Customer retention

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Segmentation

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Benefit based Segmentation

Understand the overall market and identify the unfulfilled needs of the customer.

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Benefit based Segmentation

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Benefit based Segmentation

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Segmentation

MAADS Framework

Measurable

Accessible

Actionable

Differentiable

Substantial

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 Targeting

Picking a Segment as the Target Segment Targeting Strategies

Royal Enfield targets bikers who belong to the age group of 25-45. The brand is closely associated with masculinity, power, and adventure.

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 Positioning
Occupying a meaningful and distinctive place in your customers mind
USP – Distinctive & clear space in the costumers mind
Point of parity & difference

Perceptual Map Example

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 Marketing Mix

To position your product better in your target audience's minds, you must use
the 4Ps of marketing.

Product

Price

Place

Promotion

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Product

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Product – components & lifecycle

Components Lifecycle

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Product Lifecycle

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Price

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Place

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Promotion

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Marketing Mix- Services

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Building a Buyer’s Persona

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Building a Buyer’s Persona and using the same

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 #LifeKoKaroLift

Questions?

27

09/01/21