Professional Documents
Culture Documents
Selling?
Advertising?
Promotions?
Making products available in stores?
Maintaining inventories?
1
Marketing = ?
2
Marketing = ?
3
Simple Marketing System
Communication
Goods/services
Industry Market
(a collection (a collection
of sellers) of Buyers)
Money
Information 4
Marketing = ?
Marketing is the sum of all activities that take you to a
sales outlet. After that sales takes over.
Marketing is all about managing the four P’s –
product
price
place
promotion
5
The 4 Ps & 4Cs
Marketing Convenience
Mix
Place
Product
Customer
Solution Price Promotion
Customer Communication
Cost
6
Difference Between - Sales & Marketing ?
Sales
trying to get the customer to want what the
company produces
Marketing
trying to get the company produce what
the customer wants
7
Scope – What do we market
Goods
Services
Events
Experiences
Personalities
Place
Organizations
Properties
Information
Ideas and concepts
8
Core Concepts of Marketing
Based on :
Needs, Wants, Desires / demand
9
Core Concepts of Marketing
10
In order to understand Marketing let us begin with the
Marketing Triangle
Customers
Company Competition
11
Who is a Customer ??
CUSTOMER IS . . . . .
12
Customer –
13
How Do Consumers Choose Among
Products & Services?
14
Customers - Problem Solution
15
Customer looks for Value
Value = Benefit / Cost
Benefit = Functional Benefit + Emotional
Benefit
Cost = Monetary Cost + Time Cost +
Energy Cost + Psychic Cost
16
Strategic Marketing
18
Strategic Planning
19
The Strategic-Planning, Implementation,
and Control Process
20
Business Strategic-Planning Process
External environment
(Opportunity &
Threat analysis)
Internal Environment
21
Strategy Formulation
Environmental Analysis
22
Firm Strategies
The Marketing Plan
23
CONTENTS of MARKETING PLAN
Business Mission Statement
Objectives
Situation Analysis
Marketing Strategy
Target Market Strategy
Marketing Mix
Positioning
Product
Promotion
Price
Place – Distribution
People
Process
Implementation, Evaluation and Control
24
The Marketing Process
Business
Mission
Statemen
t
Objective
s
Situation
Analysis
Marketing Strategy
Target Market
Strategy
Marketing Mix
Product Place/Distribution
Promotion Price
Implementation
Evaluation, Control
25
Why a product like radio declined
and now once again emerging as
an entertainment medium ?
26
What Were the Drivers of This Change ?
Technology ?
Government policy ?
27
Factors
Influencing
Company’s
Marketing
Strategy
28
External Environment
External Marketing
is not controllable Environment
Social Ever-Changing
Change Marketplace
Demographics
Economic
Product Conditions
Distribution
Promotion
Price Physical / Natural
Competition
Target Market
Political &
Legal Factors
Technology
Environmental
Scanning
29
The macro-environment
30
Product
31
Product is . . . . .
32
Types of Products
PRODUCTS
Consumer Industrial
Services
Products Products
33
Product Items, Lines, and Mixes
A group of closely-related
Product Line
product items.
34
Product Mix
35
What is a Service? Defining
the Essence
36
Some Industries - Service Sector
37
Classification of Services
Pure Intangible
Banking
Service
Good Transportation
Computers
39
The Marketing Mix
40
The “8Ps” of Integrated Service
Management vs. the Traditional “4Ps”
► Product elements
► Place and time
► Process
► Productivity and quality
► People
► Promotion and education
► Physical evidence
► Price and other user outlays
41
The Give and Get of Marketing
42
Great Words on Marketing
1. “The purpose of a company is ‘to create a customer…The only
profit center is the customer.’”
2. “A business has two—and only two—basic functions: marketing
and innovation. Marketing and innovation produce results: all the
rest are costs.”
3. “The aim of marketing is to make selling unnecessary.”
4. “While great devices are invented in the Laboratory, great
products are invented in the Marketing department.”
5. “Marketing is too important to be left to the marketing
department.”
43
Drivers of Customer Satisfaction
Many aspects of the firm’s value proposition contribute
to customer satisfaction:
The core product or service offered
Support services and systems
The technical performance of the firm
Interaction with the firm and it employees
The emotional connection with customers
44
Marketers and Markets
Marketers are focused on stimulating exchanges
with customers who make up markets – B2C or
B2B.
The market is comprised of people who play a
series of roles: decision makers, consumers,
purchasers, and influencers.
It is absolutely essential that marketers have a
detailed understanding of consumers, their needs
and wants.
Much happens before and after the sale to affect
customer satisfaction
45
Stages of Customer Interaction
46
What Changed in Marketing…
47
Myth 1 – The larger the range of products, the more
customer-centric I am.
48
Myth 2 – Better technology leads to
better customer service.
Mythbuster – Technology
alone does not deliver,
helps people do.
49
Myth 3 – Launch a product and the customer will start
using instantly.
- Give a customer a card and he will learn how to play
with it immediately
50
Myth 4 – The only way to get a customer is from
competition.
Mythbuster – Customers
are not only present
where competition is.
51
Myth 5 – Just advertise and - You will sell.
53
Myth 7 – In the absence of relationships ‘trust’ builds
financial brands
54
So what will the differentiators be :
• Technology ?
• Brand ?
55
The real differentiator of
customer – centricity in a
commoditised world of financial
products -
Customer Service !
56
Thank You
sagarnarsian@yahoo.com
57