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NeedsFood/ Shelter/ Clothing
NEEDS, WANTS & DESIRES
Basic human needs Food, Shelter, Clothing Needs targeted to specific products Strong wants
HOW TO GET SOMETHING ? Beg Steal Borrow Selfproduction .
Promotion & Distribution of ideas. Pricing. goods & services to create exchanges that satisfy individual & organisational goals .Process of planning and executing the Conception.
Starting Point SELLING Factory Focus Products Means Selling & Promoting Ends Profits thro’ sales volumes Profits thro’ customer satisfaction MARKETING Target narket Customer needs Integrated marketing .
Goods Services Experiences Events Persons Places Properties Organisations Information Ideas Outer space Water. Ocean bed… GOD .
SIMPLE MARKETING SYSTEM Products/Services Industry (Collection of sellers) Market (Collection of buyers) Money INFORMATION .
MODERN MARKETING SYSTEM COMPANY SUPPLIERS Marketing Intermediaries END USER COMPETITORS .
Sizes Labelling Legal requirements Product protection PRODUCT Variety Quality Design Features Brand name Services PRICE PACKAGING MARKETING MIX List price Discounts Allowances Payments Credit terms Advertisement Sales Promotion Personal Selling Public relations Direct marketing PROMOTION Channels Coverage Assortments Location Inventory Transport PLACE .
Timely demand Adequate purchase Demand from more consumers Undesirable social consequences .DEMAND Willingness backed by the ability to buy Negative demand Nonexistent “” Latent “” Declining “” Irregular “” Full “” Overfull “” Unwholesome “” Customer dislike the product Unawareness/uninterested Strong unsatisfied need Less frequent purchase Seasonal.
Physical Digital / Virtual .Internet Cluster of complementary products and services that are closely related in the minds of the consumer but are spread across a diverse set of industries – Automobile metamarket .Market Marketplace Marketspace Metamarket A physical place where buyers & sellers gathered to buy/sell goods.
PRODUCTION PRODUCT SELLING MARKETING SOCIETAL MARKETING HOLISTIC MARKETING .
PRODUCTION ORIENTATION Produce as much of a product as possible – Profits through large quantities PRODUCT ORIENTATION Produce the best quality product – Profit through very good / world class quality SELLING ORIENTATION Consumers by themselves would not buy a product – it needs to be aggressively sold .
they have an obligation to society – accountable to employees.MARKETING ORIENTATION Marketing becomes the central focus of the entire organisation – all functions/ department of an organisation work towards customers satisfaction SOCIETAL MARKETING Organisations owe their existence to Society – hence. environment and world at large – Green Marketing. Disaster Management … . public. shareholders. Consumers.
Societal marketing initiatives Corporate social marketing – behaviour change campaigns – Immunization .. Corporate philanthropy – Gifts of money. processes and activities that recognizes their breadth and interdependencies. Corporate community involvement – volunteer services Socially responsible business practices Environment protection. design and implementation of marketing programs. Cause marketing – Sponsorships. animal rights … HOLISTIC MARKETING A concept based on the development. time . . advertising Cause-related marketing – % of revenue to charities... donations etc.
Senior Management Other depatments INTERNAL MARKETING HOLISTIC MARKETING RELATIONSHIP MARKETING Customers Channels Partners Ethics Environmental Legal Community SOCIALLY RESPONSIBLE MARKETING .Communications INTEGRATED Products MARKETING Channels Marketing dept.
Top Middle Management Frontline People CUSTOMERS CUSTOMERS Frontline People Middle Management Top Traditional organisational chart Modern customer-oriented organisation chart .
Consumer Business Global Non-profit Government .
Price a customer is willing to pay for an offering.CUSTOMER Value COMPANY COST Value COMPANY II Value . Profit = Total value – Total cost COMPETITION Rivalry for the same resources .
Sourcing. Distribute. Distributing Servicing Sales force. Promote. Service Value creation and delivery sequence Choose the value Customer segmentation Market selection / focus Value positioning Provide the value Product/ Service development Pricing.Traditional physical process sequence Make the product Design product / Procure / Make Sell the product Price. sales promotion and advertising Communicate the Value . Making. Sell.
INFRASTRUCTURE IN RG MA HUMAN RESOURCE MGT. TECHNOLOGY DEVELOPMENT PROCUREMENT Inbound Operations Outbound Marketing Service Logistics Logistics & Sales MA RG IN .
MARKETING FUNCTIONS Supporting Activities Merchandising activities Physical Distribution activities .
Product Planning & Development Standardisation & Grading Buying & Assembly Personal selling Advertising Sales promotion Branding Packaging/ labelling Customer service ASS SELLING .
TRANSPORT STORAGE .
Market finance Market risk bearing Insurance Sales Forecasting Product differentiation Consumer credit Market Information & Market Research .
YOU SURROUNDINGS .
MACRO P E MICRO PUBLIC S SUPPLIERS T NATURAL LEGAL COMPANY CONSUMERS COMPETITION MARKETING INTERMEDIARIES DEMOGRAPHIC INTERNATIONAL ENVIRONMENTALISM CONSUMERISM SOCIAL RESPONSIBILITY .
STRATEGIC PLANNING PROCESS PLANNING Corporate Business Division Product IMPLEMENTATION Organising Implementing CONTROL Measure results Diagnose results Corrective action .
Executive Summary & Table of Contents Situation analysis Marketing strategy Financial projections Implementation controls .
Executive Summary Situation analysis Brief summary of goals & recommendations Market summary SWOT analysis Competition Product offering Keys to success Mission Marketing objectives Financial objectives Target markets Positioning. Strategies Marketing mix Market research Marketing strategy .
Financials Break-even analysis Sales forecast Expense forecast Implementation schedule Marketing organisation Contingency planning Controls .
Equipment and Procedures to gather. sort. analyze.People. evaluate and distribute information to marketing decision makers .
needs Distribute information Development of info. Marketing environs Marketing decision & communication .Marketing Mgt Analysis Planning Implement Control Assess info.
IRS MKIS MRS MDSS .
Data warehousing – Process of capture.INTERNAL RECORDS SYSTEM • • • • • Order to payment cycle Sales Information systems Databases Data warehousing Data mining Databases – Organized collection of comprehensive information about customers / prospects. trends and segments from mass of data. Data mining – Extracting useful information about individuals. organization and storage of current data. .
Research type Contact methods Sampling Methods MARKET RESEARCH SYSTEM Instruments Data sources Approaches .
Programming Heuristics New product – pre-test models COMPUTER BASED MODELS .DEMAND FORECASTING STATISTICAL MODELS Regression analysis Discriminant analysis Cluster analysis Factor analysis Conjoint analysis M-D scaling ADVANCED MATHEMATICAL MODELS Queuing theory Game theory Math.
LOCAL MARKETING INDIVIDUAL MARKETING NICHE MARKETING MASS MARKETING SEGMENT MARKETING .
Targeting Positioning Investigating the hierarchy of attributes consumers examine in choosing a brand . Deciding how many and which segments to target. TARGETING & POSITIONING Segment A group of customers who share a similar set of needs and wants.SEGMENTATION.
Religion. Global Age. Gender. Occupation. .SEGMENTATION Segmentation variables Geographic Demographic Psychographic Behavioural Local. attitude & response to a product. Race. Nationality Use of Psychology & Demographics Use of knowledge. Income. Regional. Family size. National.
PSYCHOGRAPHIC SEGMENTATION VALS NETWORK High resources High innovation Innovators PRIMARY MOTIVATION SELFIDEALS ACHIEVEMENT EXPRESSION Thinkers Achievers Experiencers Believers Strivers Makers Survivors Low resources Low innovation .
BEHAVIOURAL SEGMENTATION Unaware TARGET MARKET Aware Not tried Tried Negative opinion Neutral Positive opinion Rejector Not yet repeated Repeated Loyal to other brands Light User Switcher Loyal To brand Regular user Heavy user .
TARGETING Single segment concentration Selective specialisation Product specialisation Market specialisation Full market coverage .
POSITIONING FACTORS/ ATTRIBUTES Price Type Quality Brand Service Durability .
search Evaluation of alternatives Purchase decision Post-purchase behaviour PURCHASE DECISIONS Product choice Brand Dealer Purchase amount Purchase timing Payment method .CONSUMER PSYCHOLOGY Motivation Perception Learning Memory MARKETING STIMULI Product Price Place Promotion OTHER STIMULI Political Economic Social Technology CONSUMER CHARACTERISTICS Cultural Social Personal BUYING PROCESS Problem recognition Info.
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