Marketing Management

Marketing comes from Marcatus which means a place of potential exchange.

Market place is the physical store or place where you buy the good.
Meta market – Insurance, Car, Figures.

3 types of market
B – B – Business Market
Consumer Market
Govt/ NGO Market

Marketing :- It is the process of finding out customer needs and serving those need profitably.

8 types of demand:-
- Negative – dislike the product
- Declining – buy less frequently
- Full – adequately buying
- Overfall – want to buy much more than available
- Unwholesome
- Latent – buy new alternative
- Irregular – monthly, weekly, hourly
- Non-existence – that’s gone

- Form utility

- Person utility

- Exchange utilities

- Place utilities

- Time utilities
Marketing satisfies our needs by providing these utility.

M a rk e ti n g
Seeking

A re n a
Matching

Programming
Updating 4Ps
Product
Price
Services
Place
Promotion
Process
People Product
Physical Evidence

4Ps to 4Cs
Product Customer Value
Price Cost
Place Convenience
Promotion Communication

4As
- Acceptability
- Affordability
- Accessibility
- Awareness
10 entities that is marketed
- Goods
- Services
- Properties
- Events
- Organization
- Experience
- Person
- Places
- Information
- Ideas
Every marketer’s offering includes a basic idea.

Various Orientation of companies towards its market place/ arena

- Production Concept ( Manufacture as many products as possible)
- Product Concept (Manufacture goods with utmost quality and high performance)
- Selling Concept (Follow up with customers)
- Marketing Concept ( Customers and company come at bar, take inputs)

PR – Public Relation
PS – Personal Selling
A – Advertising
D – Direct Marketing
S – Sales Promotion

Value Chain:- It is the collection of steps a company takes to convert products from concept to
market-ready solution.

Integrate Marketing Communication :- when the objective is same

Types of benefits advertising gives:-
- Subjective
- Objective
- Value-Oriented

Various Orientation of Companies towards its market place/area.

1. Production Concept
The idea that consumer will favour the products that are easily available
and highly affordable.
2. Product Concept
A product concept is a description of a product or service, at an
early stage in the product lifecycle.
3. Selling Concept
The idea that consumer will not buy enough of the firms products unless
the firm undertake a large scale selling and promotion effect.
4. Marketing Concept
The marketing concept is the use of marketing data to focus on the needs and
wants of customers in order to develop marketing strategies that not only satisfy
the needs of the customers but also the accomplish the goals of the organization.

Holistic Marketing Concept

Product that should not harm the environment.

1. Internal Marketing
Internal marketing is the promotion of a company's objectives, products and
services to employees within the organization.
2. Performance Marketing
Performance marketing refers to a form of digital marketing in which
brands only pay marketing service providers after their business
objectives have been met or when specific actions have been taken,
such as a click, sale, or lead. In other words, it is performance-based
marketing.
3. Relationship Marketing
 Relationship marketing is a facet of customer relationship management
(CRM) that focuses on customer loyalty and long-term customer
engagement rather than shorter-term goals like customer acquisition and
individual sales.

4. Integrated Marketing
Integrated marketing is a strategy for delivering a unified message
across all the marketing channels your brand uses.

Service Marketing Triangle

 5M
- Micro
- Macro

Strategies

VMOST
 - V – Vision – what you aspire
- M – Mission – The pathway to vision, steps
- O – Objectives/Goals
- S – Strategies
- T - Tactics

Segmentation – Dividing market

Targeting = Segmentation x Product, the moment product gets introduced
Positioning – Lifebuoy vs Cinthol

Firm Environment
- Internal hr, production r&d, financial capability, Marketing dept.
- External
o Micro competitors, organizer supplier, market
o Macro Politicial, Economic, Social, Technological, Legal, Environment, Cultural,
International. National, Demographic
BCG Matrix

Limitations – Market not clearly defined.

GE McKinsey Matrix

The Coca Cola brand history

Basis of segmentation: -

- Consumer Characteristics – Formed out of a individual’s character, ingrained in him

or her from the place he is from, the family, the country, his or her age and association.
o Demographics
o Psychographics
- Consumer Behavior – Behavior is dependent on a particular situation, a person’s
awareness about the situation and his actions wrt to the situation.
 o Users
o Benefits
o Usage
o Loyalty

Where STP starts?

Identifying markets with unfulfilled needs

Determining market segmentation

Selecting a target market(s)

Positioning through marketing mix program

Bases/Criteria for Consumer Market

Segmentation

Product Characteristics
Consumer Characteristics
or
or
Product-oriented Approach
People-oriented Approach
- Occasions
- Geographic Bases
- Benefits
- Demographic Bases
- User Status
- Psychographic Bases
- User Rate
(Lifestyle, personality, Values)
- Loyalty Pattern
- Readiness Stage
- Attitude towards products
 Bases/Criteria for Consumer Market Segmentation

Geographic Variables
Demographic Variables - Region
- Age - Occupation - Urban, suburban, rural
- Gender - City size
- Family size - Country size
- Race
- Ethnicity - Family Life Cycle - State Size
- Income
- Religion - Market Density
- Education
- Social class - Climate
- Terrain

Geographic Variables
-Personality attributes
- Motives
- Lifestyles
Behavioristic variables
-Volume Usage
- End use
- Benefit expectations
- Brand loyalty
- Price sensitivity
Marketing management (29/07/22)
Where STP (segmentation, Targeting, Positioning) starts?
-Identifying markets with unfulfilled needs.
-Determining market segmentation.
- selecting a target market.
SEGMENTATION – Demographic (It changes)
- Geographic (customer Characteristics)
- Psychographic (Thought process)
-

Customer Behavior Attitudely loyal

USERS
Behaviorally Loyal USAGE
BENEFITS
LOYALITY

● Basis for customer segmentation

Consumer characteristics or People oriented approach: -
1. Geographic bases
2. Demographic bases- (market size, market density)
3. Psychographic bases
Product characteristics or Product oriented approach
1. Occasions
2. Benefits
3. User status
4. Usage rate
5. Loyalty pattern
6. Readiness
7. Attitude toward product

M(motivation) P(Perception) L (Learning) A(Attitude) P Lifestyle

BUYING ROLES
1. Users
2. Initiators
3. Influencers
4. Buyers
5. Gatekeeper
6. Deciders
7. Approvers

Marketing Notes (01/08/22)

● SEGMENTATION- segmentation means to divide the marketplace

into parts, or segments, which are definable, accessible,
actionable, and profitable and have a growth potential.

● FIVE GENERATION – 1) Tradionalists (1900-1945)

2) Boomers (1946-1964) – (workplace, equality)
3) GenX (1965-1976) – (Independent, MTV)
4) Millennials (1977-1997)
 5) Gen 2020 (After 1997)
● Traditional family Life cycle

● Modernized Life Cycle - The family life cycle is used for

targeting and positioning consumers since it is mainly
concerned with the different phases and generations that
a typical family passes through.

● What is an effective targeting?

 To be an effective target, a market segment should be: identifiable,
sizeable, stable or growing, accessible, and congruent with the marketer’s
objective and resources.

● 5 types of Targeting

1) Single segment- Produces single product, only one product. (Demographic,

psychographic, behavioral and geographic segmentation)

2) Selective Specialization- when a company uses product specialization to

target two or more audiences. This means a company has more than one
specific consumer, but the marketing efforts still don’t target the mass
public. (For different segment different product)

3) Product Specialization- Marketing technique where business focus their

marketing or branding efforts on a specific product or product line. (One
product in all the market)

4) Full market Coverage- (Manufactures all cover full market)- This approach
applies a single marketing mix to the entire market.
5) Market Specialization – You concentrate on a specific segment and a
provide a variety of products or variations of a product which match the
benefits that customers in that segment care about. (Specialize in one
market).
● Positioning- refers to the place that a brand occupies in the minds of the
customers and how it is distinguished from the products of the customers
and how is it distinguished from the products of the competitor’s and
different from the concept of brand awareness.
Preparation, select organize, interpret information.
- Point of Parity – are elements that a brand needs in order
to be considered in the eyes of the consumer.
 - Point of difference – characteristics of a product or service
that distinguish it from competitors.
- CFR- Competitive frame of reference – way of describing
the market or context in which you choose to position your
brand.
Competitive Advantage- Advantage over your competitor.
● Cost Advantage- Producing the product at cheapest cost.
● Differential advantage- Price premium from unique product. How your
product is different from others.
- Personnel- Human beings are different
- Chanel- place
- Image- how to differential image in mind.
● Positioning is done by various strategies.

Marketing Management (05/08/22)

Psychic value - Needs and wants of consumer.
Tangible value- (Feel, Touch), Economic utility- Psychology utility
Intangible value – (can’t touch or feel), Supplementary utility.
Any Product has 5 layers.
1) Potential – changing the product – Feature, design.
2) Augmented- A surprise you didn’t expect.
3) Expected-
4) Basic-
5) Core – Something that will satisfy core

Product Classification – 1) Consumer Goods

S shopping
S specialty (buying on special occasion)
U Unsought (Concentrative, sanitary)
C Convenience (staple, Impulsive {Inexpensive items, small items ex- lays, pen}
Emergency)

2) Industrial Goods
(Material goods, supplies, capital item)
3) Durable Goods vs Non-Durable goods-
(Long lasting and short-term period products)
● Capital Item – help in manufacturing product losing its own
existence.
● F M C G – F (FOOD) [Food & Beverages]
M (Medicine) [ Health & care]
C (Confidential) [ Personal care]
G (Ghar) [ Household items]
● F M C D – F (fast), M (Moving), C(Consumer), D (Durable)
Three Types of Goods- 1) White Goods- (big electronic goods that do
something from us ex- Refrigerator, Ac)
 2) Brown Goods – (Kitchen and garden items)
3) Consumer Electronics- (Electronics that entertain
us) ex- T.V, C.D, Radio.

12/08/22 (Marketing class notes)

Marketing Mix – The marketing mix, also known as the four Ps of marketing,
refers to the four key elements of a marketing strategy: product, price, place and
promotion.
4P’s – Product
Price
Place
Promotion
A product is anything that is offered to a market to satisfy customer wants and needs.
The product includes both tangible and intangible items available for sale in the market.
A company sells a variety of products at a time. For example, PepsiCo sells hundreds of
products under the product lines of beverages, food, and nutritional products. These
product lines, when combines, are known as product mix.

Product line- A group of related products all marketed under a single brand name
that is sold by the same company.
- Width – Number of product lines. Width or breath of the
product mix means the total number of product lines that a
company offers to sell. 
- Length- Total no of items in the mix. The length of the
product mix means total number of products within the
company product lines.
 - Depth- no. of variations of each product in the line. Depth of
a product mix means the total number of variations for each
product a company offers within. 
- Consistency- Product mix consistency is the close relationship
between different product lines. The more product variation
means less product consistency.

Vulnerable- Insecure feeling

Line extension- better quality product extended quality product.

Beverage leveraging- leveraging up, market stretch

Down market stretch – brand leverage
Line filling
Line moderating
Two-way stretch

Product building- Product Building offers effective solutions provided that a

good evaluation is made, making the relationship with the client extremely
relevant. The client proposes product features so that we define the
process that can fulfil both the user's needs and the business's purposes.

Cannibalization- the reduction of the sales of a company's own products

as a consequence of its introduction of another similar product.

Line Modernization - a strategy in which items in a product line are modified

to suit modern styling and tastes and re-launched. 

Endorsing - Endorsements are a form of advertising that uses famous

personalities or celebrities who command a high degree of recognition,
trust, respect or awareness amongst the people. Such people advertise for
a product lending their names or images to promote a product or service.

Hybrid brand- Hybrid brand architecture is often the result of acquisitions, whereby
the parent brand decides on a case-by-case basis what the most beneficial brand
strategy is when it acquires each new brand.

- Mixture of two or more brand architecture; master brand

 -
Sub brand - A sub-brand is generally classed under an umbrella brand or
family brands. Sub-branding refers to a business restructuring process
when the main brand (mother brand) creates one or several subordinate
brands.

Different product or service brands are positioned individually from a parent

company.

House Of brands- A house of brands is the term given to a brand

architecture strategy where the companies brands feel very different to
each other. It is usually used by corporations that cover multiple
industries and are product focussed. The sub brands become the primary
brand to their users.

Co – Branding - Co-branding is a marketing strategy that utilizes multiple

brand names on a good or service as part of a strategic alliance. 

Equal treatment and shares promotion.

(co-operative branding)- Cooperative branding involves two or more
brands sharing a promotion. 

Complementary branding-  A complementary brand is one whose

product or service complements yours. Think, for instance, a donut shop
and a coffee house. In some cases, the brand itself can be complementary.

Ingredient Branding- In marketing, ingredient branding or ingredient

marketing refers to a process in which a company markets an established
ingredient or component used in its own products. 

When two companies come together are called co-branding.

Complementing each other – Complementary branding.

Advertising - The definition of advertising is an industry used to call the

attention of the public to something, typically a product or service. The
definition of advertisement is the means of communication in which a
product, brand or service is promoted to a viewership in order to attract
interest, engagement, and sales.
Promotion- Promotion is a marketing tool, used as a strategy to
communicate between the sellers and buyers. Through this, the seller tries
to influence and convince the buyers to buy their products or services. It
assists in spreading the word about the product or services or company to
the people.

Directly marketing- Direct marketing is a form of advertising that

specifically targets a person or company to generate new business, raise
the profile of an organisation or product, or make a sale. Direct mail,
telemarketing and email marketing are all popular types of direct marketing.

- Selected customer and supply method for a direct

response.
- Message straight to customers.

Marketing management Notes (19/08/22)

Integrated Marketing Communication (IMC)

What is promotion?
It inform, attract or remind customers. Promotion is a marketing tool,
used as a strategy to communicate between the sellers and buyers.
Through this, the seller tries to influence and convince the buyers to buy
their products or services.
Direct marketing: given liberty for what they want to do. It is a form of
advertising that specifically targets a person or company to generate new
business, raise the profile of an organization or product, or make a
Promotional mix: (PRPS ADS + Events)
Advertising: process to turn the attention of the people. It is a process,
not a medium in its own rights, although it uses different media from to
communicate.
Identifical sponsor:
⮚ Non-personal
⮚ Paid for
⮚ Salesmanship in print
⮚ Competitive Act
Benefits of advertising give:
⮚ Objective: what is present in the products.
⮚ Subjective: each customers perceives different benefits.
⮚ Value oriented benefit: morals.
Objective verses subjective verses value oriented benefits pf
advertisement:
Objective:
⮚ These are tangible, physical and measurable.
⮚ These are in the product
⮚ They are what you want get by using it.
Subjective:
⮚ These are in the consumers mind
⮚ These are perception.
⮚ These are what the consumer believes she will get as a result of the
objective benefit.
Value oriented:
⮚ These appeal to the consumer deepest concerns, their basic drives
as individual human beings.
⮚ There are only a few of them- power, security, social acceptance,
status, greed, sex, survival- and they are very powerful.
CBBE: customer based brand equity is used to show how a brand’s
success can be directly attributed to customer’s attitudes towards that

brand.

Advertising Appeals
Moral – It aim to give the audience a sense of what is
right and good.
Rational/Irrational-Whether the product good or not ,by
that we can choose the product.
Emotional-positive appeal or negative appeal related to
heart.
Direct-Whatever is directly into the product.
Indirect-What inside the product and what will consumer
get from the product.
These all are advertising appeal.
Moral appeal –
.Right to- Education ,food, employment, freedom, speech
.Wrong to- Deforestation, drinking, driving
Rational-Feature, price, in news compete(they say I am
better than them)
Emotional- Fear, humor, sex ,scarcity,
Social- self esteem ,love and belongingness

Relationship between Advertisement and PLC

Introduction – Information advertisemet
Growth – Persuasive ad
Maturity – Reminder- Oriented ad
Advertising Appeal
Approach to attract attention
To influence customers feelings

Execution Style
The way an appeal is turned into an advertising message
The way the message is presented to the consumer

Advertising Copy
Written advertising
These are the elements-
Headline
Sub headline
Body
There are 6 types of advertising copy-
1.Human interest copy- how customer get the benefit by
the product they are using.
2.Institutional copy-only sale the main brand not various
brand of the company
3.Reason why copy-what ingredients inside the product
why should customer use the product.
Ex-whey protein
4.Educational copy-when advertising teaches you how to
use the brand
5.Suggestive copy-it shows something, but it understand
something else
6.Expository copy-tell everything about the product in
advertising
Identification
Mascot

LABEL IPS Types of Headlines

Informative-Information about product headline
Provocative-Which can catch people’s attention
Selective- Direct audience
Label-Niche
There are 10 types of illustration-
1.Contrast illustration- it contrast or shows dissimilarities
of one product with another as in before and after; plus n
minus.
2.Headline dramatization-both headline and illustration
emerges as attention getters when used together in a
form that is dramatized.
3.Magnification -magnification is used to emphasize a
particular section of product in detail.
4.Product technique- uses picture of product in isolation.
5. Product Setting- Product in setting.
6. Product in action- Action used should make dramatic
impact on the reader.
7. Product result – Customer is more interested in
satisfaction the product gives rather than the product
itself.
8. Situation Dramatization – Dramatizing a situation to
make users come out with their SOLUTION to sell.
9 Symbol – Abstract ideas like freshness, status,
respect, etc . can be symbolized to increase
brand recall.
10 Illustration – Picture or photograph
Advertising Layout
Placement of ad elements

Principle of good layout

Principle of Balance-
Principle of rhythm
Principle of emphasis
Principle of proportion
Principle of unity
Principle of simplicity
SUPERB