Segmentation

Segmentation is used to divide a target market into distinct groups of consumers

with similar needs, preferences, or behaviors. This allows marketers to tailor their
products, services, and marketing strategies to effectively reach and cater to each
segment's specific requirements. Common segmentation variables in marketing
include demographics (age, gender, income), psychographics (lifestyle, values,
attitudes), geographic location, and behavior patterns.

Marketing Plan

A marketing plan is a strategic document that outlines the specific actions and
strategies a company will implement to promote its products or services to its
target audience. It serves as a roadmap for the marketing team, providing direction
and guidance on how to achieve marketing objectives and drive business growth.

Global Market

The global market refers to the interconnected network of buyers and sellers
engaged in the exchange of goods, services, and assets across national borders. It
encompasses various industries, including finance, manufacturing, technology,
agriculture, energy, and more. The global market is driven by international trade,
investments, and the movement of capital, as well as advancements in
transportation and communication technologies that have facilitated global
economic integration.

CSR

CSR stands for Corporate Social Responsibility. It is a concept that refers to the
ethical and responsible behavior of businesses towards society and the
environment. CSR goes beyond profit-making and encourages companies to consider
the impact of their operations on various stakeholders, including employees,
customers, communities, and the environment.

Viral Marketing

Viral marketing is a marketing strategy that aims to generate buzz and spread
marketing messages rapidly through word-of-mouth and online sharing. It involves
creating content or campaigns that are so compelling, interesting, or entertaining
that people voluntarily share them with their social networks, resulting in
exponential growth in reach and exposure.
Public Relations

Public Relations (PR) is a strategic communication practice that aims to build and
maintain a positive image and reputation for individuals, organizations, or brands.
It involves managing relationships and communication with various stakeholders,
including the media, customers, employees, investors, and the general public. The
goal of PR is to establish credibility, trust, and goodwill, as well as to shape public
perception and influence public opinion.

New Product Development

New product development (NPD) refers to the process of creating and introducing
new products or services to the market. It involves the entire journey from idea
generation and concept development to market launch and commercialization.
Successful NPD requires a systematic and well-planned approach to ensure that the
new product meets customer needs, aligns with business objectives, and has a
competitive advantage in the marketplace.

Product Lifecycle

The product lifecycle refers to the stages that a product goes through from its
introduction to the market to its eventual decline and discontinuation. It is a
conceptual framework that helps businesses understand and manage the different
phases of a product's existence. The product lifecycle typically consists of four
stages: Introduction, Growth, Maturity, and Decline.

Cliques

Cliques refer to small, exclusive social groups or circles that form within larger
social settings, such as schools, workplaces, or communities. These groups are
characterized by shared interests, values, or social characteristics, and members
often engage in close-knit relationships and interact primarily with each other.
Cliques can be seen in various contexts, including adolescence, where they are
commonly associated with social dynamics and peer groups.

Value proposition

A value proposition refers to the unique value or benefits that a product, service, or
brand offers to its customers. It is a clear statement or proposition that
communicates why customers should choose a particular product or brand over
competitors. A strong value proposition highlights the distinctive features,
advantages, and benefits that address customer needs and differentiate the
offering from others in the market.
Pricing

Pricing refers to the process of setting a monetary value for a product or service
that a business offers to customers. It is a critical element of the marketing mix and
plays a significant role in determining revenue, profitability, market positioning,
and customer perception.

Perceived Value

Perceived value refers to the subjective assessment that customers make about the
worth or benefits they believe they will receive from a product or service. It is the
customer's perception of the value proposition offered by a business, considering
the benefits, quality, and overall satisfaction they expect to gain from the offering.

Co-branding

Co-branding refers to a strategic partnership between two or more brands that

collaborate to create a joint product, service, or marketing campaign. It involves
combining the strengths and brand equity of multiple entities to enhance customer
perception, increase market reach, and drive mutual benefits.

Example - Nike and Apple collaborated on a co-branding initiative called Nike+iPod.

The partnership aimed to combine Nike's expertise in athletic footwear and apparel
with Apple's technology to create a unique product experience for fitness
enthusiasts. The co-branded product consisted of Nike+ running shoes embedded
with a wireless sensor and an iPod device.

Marketing

Marketing refers to the activities and strategies that businesses undertake to

promote, sell, and distribute products or services to target customers. It involves
understanding customer needs and preferences, creating and communicating value
propositions, and building relationships with customers to generate sales and
achieve business objectives.

Latent Demand

Latent demand refers to the potential demand for a product or service that exists
but is not currently being fulfilled or addressed in the market. It represents the
untapped or unrecognized market opportunity for a particular offering. Latent
demand arises when customers have an unmet need or desire for a product or
service, but they are not actively seeking it or are unaware that a solution exists.
Customer

A customer typically refers to an individual or organization that purchases goods or

services from a business. Customers engage in one-time or occasional transactions
and may have a more transactional relationship with the business. They may or
may not have an ongoing or long-term relationship with the company.

Examples:

A person buying a shirt from a clothing store is a customer.

A company purchasing office supplies from a supplier is a customer.

Client

A client generally refers to an individual or organization that has an ongoing or

long-term relationship with a professional service provider or consultant. Clients
often receive specialized or tailored services and work closely with the provider to
achieve specific goals or outcomes. The relationship between a client and a service
provider tends to be more collaborative and based on mutual trust and
understanding.

Examples:

A person seeking legal advice from a law firm becomes a client of that firm.

A company hiring a marketing agency to develop and execute a long-term

marketing strategy becomes a client of the agency.

Convenience Product

A convenience product is a type of consumer product that is widely available, easily

accessible, and typically purchased with minimal effort or decision-making. These
products are often low-cost and are frequently purchased by customers due to
their immediate need or impulse. Convenience products are designed to fulfill
everyday needs and provide convenience and accessibility to consumers.

Brand

A brand is a unique and identifiable name, symbol, design, or combination thereof

that differentiate a product, service, or company from its competitors. It represents
the overall identity and reputation of a business and encompasses the values,
personality, and attributes associated with the offering.
Marketing Channel

A marketing channel, also known as a distribution channel, refers to the set of

intermediaries and activities involved in moving a product or service from the
producer to the end consumer. It is the pathway through which goods or services
flow from the point of production to the point of consumption.

Sales Promotion

Sales promotion refers to short-term marketing activities and tactics designed to

stimulate immediate sales of products or services. It involves offering incentives,
discounts, or other promotional techniques to motivate customers to make a
purchase or take a specific action within a defined period.

Need

A need represents a basic requirement or necessity that is essential for human

survival, well-being, or functionality. Needs are the fundamental motivations that
drive human behavior and are considered universal. They are typically based on
physiological, safety, social, or esteem-related factors.

Want

Wants, on the other hand, are desires or preferences that go beyond basic needs.
They are driven by individual tastes, preferences, and aspirations. Wants are
shaped by personal, cultural, and societal influences and are subjective in nature.
Luxury goods, Experiential wants, Personal preferences

Demand

Demand, in the context of economics, refers to the quantity of a product or service

that consumers are willing and able to purchase at various price levels and within a
given period. It represents the desire and ability of consumers to acquire a specific
good or service in the market.

Durability

Durability refers to the ability of a product or item to with stand wear, decay, or
damage over time and continued use. It is the extent to which a product can retain
its original quality, functionality, and structural integrity, even under normal or
intended usage conditions.
Reliability

Reliability refers to the consistency and dependability of a product, system, or

service to perform its intended functions without failure or errors over a specific
period and under specified conditions. It is the ability of a product or service to
deliver consistent and predictable results, meet customer expectations, and perform
as intended.

Wholesaler

A wholesaler is an intermediary or middleman in the distribution channel that buys

products in large quantities from manufacturers or suppliers and sells them to
retailers, other businesses, or institutional customers. Wholesalers serve as a link
between producers and retailers, facilitating the movement of goods from the point
of origin to the point of sale.

Meta market

The term "meta market" refers to a concept in marketing that describes a group of
related products and services that fulfill a similar consumer need or share common
characteristics. A meta market consists of multiple product categories that, from a
consumer's perspective, serve as alternatives or substitutes in addressing a
particular need or desire.

Points of Parity (POP)

Points of parity (PoP) refer to the similarities or shared attributes between a brand
and its competitors. They are the features, benefits, or characteristics that are
considered essential or expected within a specific product category or market.
Points of parity are what allow a brand to be perceived as a legitimate and credible
option within the competitive landscape.

Point Of Differentiation (POD)

POD stands for "Point of Differentiation." In marketing, a point of differentiation

refers to a unique feature, attribute, or benefit of a product, service, or brand that
sets it apart from competitors in the marketplace. It is something that makes the
offering distinctive and valuable to customers, giving it a competitive advantage.

Idea Screening

Idea screening is a critical step in the new product development process where
potential ideas or concepts are evaluated and analyzed to determine their
feasibility, fit with strategic objectives, and potential for success in the market. The
goal of idea screening is to identify and select the most promising ideas for further
development, while eliminating or setting aside ideas that are deemed unviable or
less aligned with the organization's goals.
Zero Level Channel

A zero-level channel, also known as a direct marketing channel, refers to a

distribution channel where the producer or manufacturer sells products or services
directly to the end consumer without the involvement of intermediaries or
middlemen.

Ansoff's Product-Market Expansion Grid

Ansoff's Product-Market Expansion Grid, also known as the Ansoff Matrix, is a

strategic framework that helps businesses explore growth opportunities by
considering different combinations of new and existing products and markets. It
was developed by Igor Ansoff, a Russian-American mathematician and business
strategist, and is widely used in marketing and strategic planning.

Customers Relationship Management (CRM)

Customer Relationship Management (CRM) refers to the strategies, practices, and

technologies that businesses use to manage and nurture their interactions and
relationships with customers throughout the customer lifecycle. CRM aims to build
strong and long-lasting relationships with customers by understanding their needs,
preferences, and behaviors, and tailoring marketing efforts and customer
experiences accordingly.

Integration Marketing

Integration marketing, also known as integrated marketing or integrated marketing

communication (IMC), refers to a strategic approach that combines various
marketing tactics and channels to deliver a consistent and unified message to
target audiences. It focuses on integrating different marketing elements and
activities to create a seamless and cohesive customer experience.

Warranties

A warranty is a guarantee provided by a seller or manufacturer to the buyer of a

product or service, promising to repair, replace, or provide compensation for any
defects or malfunctions that occur within a specified period of time. Warranties are
intended to give customers confidence in the quality and reliability of the product
or service they are purchasing.
Holistic Marketing

 Relationship Marketing

 Customers

 Partners (supplier, distributor, dealers)

 Employees

 Financial communities (share holders, investors)

 Integrated Marketing

 Product

 Price

 Place

 Promotion

 Internal Marketing

 Marketing Department

 Senior Department

 Other Department

 Performance Marketing

 Sales & Revenue

 Brand & customer equity

 Environment

 Ethics

 Community

 Legal
4'Ps of Marketing Mix

 Product

 Price

 Place

 Promotion

Consumer Buying Process

 Need Identification

 Information Search

 Evaluation of alternative

 Purchase Decision

 Post Purchase Behaviour

Stages Of Product Life Cycle

 Introduction

 Rapid skimming Strategy

 Low skimming strategy

 Rapid penetration stretegy

 Low penetration stretegy

 Growth

 Maturity

 Decline
Importance Of Product Life Cycle

 Helps in Forecasting

 Helps in production superior Quality And More Efficiency Product

 Helps in Removing Defective Products

 Planning

 Proactive Approach

Factors Affecting Consumer Buying Behaviour

 Culture Factor

 Culture

 Sub - culture

 Social Class

 Social Factor

 Reference Group

 Family

 Roles & status

 Personal Factor

 Age & stage of life cycle

 Occupation & economic circumstances

 Personality

 Lifestyle
Porter's Competitive Strategy

Marketing Communications Tools

 Direct Marketing

 Interactive Marketing

 Word of Mouth Marketing

 Personal Selling

Sales Promotion Techniques / Tools

 Free sample Distribution

 Discount

 Coupon

 Premium

 Bonus

 Display & Advertisement allowance

 Advertising Material

 Credit Facility