Professional Documents
Culture Documents
-Shraddha Kaushik
What is Marketing…??
Selling
Advertising
Promotions
Making products available in stores
Maintaining inventories
2
Defination
3
Features
4
Marketing Management
Choosing a target
market
Creating Superioir
values (Unique selling
propositions)
5
Marketting Management Policies
• Production Concepts
• Product Concepts
• Selling Concepts – Selling what you have
produced
• Marketing Concept-Produce what you can sell
• Society Concept-Provide Eco-Friendly Products
6
Marketing = ?
Marketing is the sum of all activities that take you to a
sales outlet. After that sales takes over.
Marketing is all about creating a pull, sales is all about
push.
Marketing focuses on customer need ,sales focuses on
seller needs.
Marketing is all about managing the four P’s –
product
price
place
promotion
7
Marketing Management Policies
8
Features of management
9
Marketing management
RESEARCH
PHYSICAL
DISTRIBU
TION OF PLANNING
GOODS
STORAGE BUYING
AND AND
WARE ASSEMBL
HUSING ING
Functions
STANDARD
PROMOTIONS IZATION
AND SELLING AND
GRADING
PACKAGING
PRICING OF
AND
PRODUCTS
LABELLING
BRANDING
10
Marketing Vs Selling
Marketing is the process of planning and executing the
conception, pricing, promotion, and distribution of ideas,
goods, services to create exchanges that satisfy
individual and organizational goals
-American Marketing Association
Selling management is the art and science which
involves transfer of goods from the producer to the
consumer
11
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
12
Objective of Marketing
Management
• Creation of Demand
• Capturing Market Share
• Building Goodwill
• Profitable Sales Volume through Customer
Satisfaction
• Higher Standard of Living
• Social and National Goals
13
Scope – What do we market
Goods
Services
Events
Experiences
Personalities
Place
Organizations
Properties
Information
Ideas and concepts
14
In order to understand Marketing let us begin with the
Marketing Triangle
Customers
Company Competition
15
Core Concepts of Marketing
Based on :
Needs, Wants, Desires / demand
16
Core Concepts of Marketing
17
How Do Consumers Choose Among
Products & Services?
18
Customers - Problem Solution
19
Customer looks for Value
Value = Benefit / Cost
Benefit = Functional Benefit + Emotional
Benefit
Cost = Monetary Cost + Time Cost +
Energy Cost + Psychic Cost
20
Simple Marketing System
Communication
Goods/services
Industry Market
(a collection (a collection
of sellers) of Buyers)
Money
Information 21
The 4 Ps & 4Cs
Marketing Convenience
Mix
Place
Product
Customer
Solution Price Promotion
Customer Communication
Cost
22
The Marketing “Mix”
Marketing Mix – 4Ps
The marketing mix elements that make up an organization’s
marketing program:
1. Product
2. Promotion
3. Price
4. Place
These are management decisions, controllable
factors
• Marketing function relates to many people,
groups, and forces
Levels of product
26
PRODUCT
PRODUCT
27
Price
28
Internal Factors
• COST-Cost+ profit margin-Customer
perception,demand,competition.
• Pricing Objectives-
-Profit Maximization
-Sales Value Maximization
-To fight Competition
-Share Maximization
-Creating Special image of the brand
Other Elements-Promotion,channel of distribution
& promotions. 29
EXTERNAL FACTORS
Product Demand
Competition
Legal Restraints
Physical Distribution of product
30
Channels types of Distribution
31
Indirect level Channel
One level Channel
32
Two level channel
33
Three level Channel
34
Factors –Size of channel
35
PROMOTION MIX
Advertisement
Sales promotion
Personal Selling
Public Relations
36
Advertising
37
Role of advertising
38
Objections:
39
SALES PROMOTIONS
40
MERITS OF SALES PROMOTION
• Effective short run process
• Differentiating a company product
• Less costly
• Psychological satisfaction
41
Techniques of sales promotion
• Rebates
• Discounts
• Refunds
• Coupons
• Premiums
• Distribution of samples
• Lucky draw
• Usable Benefit
42
Strategic Marketing
45
Strategic Planning
46
The Strategic-Planning, Implementation,
and Control Process
47
Business Strategic-Planning Process
External environment
(Opportunity &
Threat analysis)
Internal Environment
48
Strategy Formulation
Environmental Analysis
49
Firm Strategies
The Marketing Plan
50
CONTENTS of MARKETING PLAN
Business Mission Statement
Objectives
Situation Analysis (SWOT)
Marketing Strategy
Target Market Strategy
Marketing Mix
Positioning
Product
Promotion
Price
Place – Distribution
People
Process
Implementation, Evaluation and Control
51
The Marketing Process
Business
Mission
Statemen
t
Objective
s
Situation
or SWOT
Analysis
Marketing Strategy
Target Market
Strategy
Marketing Mix
Product Place/Distribution
Promotion Price
Implementation
Evaluation, Control
52
Marketing Environment
Why a product like radio declined
and now once again emerging as
an entertainment medium ?
54
What Were the Drivers of This Change ?
Technology ?
Government policy ?
55
Why Market Leaders Suffered ?
56
Factors
Influencing
Company’s
Marketing
Strategy
57
External Marketing Environment
External Environment
Social Ever-Changing
is not controllable Change Marketplace
Demographics
Economic
Product Physical / Natural Conditions
Distribution
Promotion
Price
Competition
Target Market
Political &
Legal Factors
Technology
Environmental
Scanning
58
The macro-environment
59
Product
60
Product is . . . . .
61
Types of Products
PRODUCTS
Consumer Industrial
Services
Products Products
62
Product Items, Lines, and Mixes
A group of closely-related
Product Line
product items.
63
Product Mix
64
What is a Service? Defining
the Essence
An act or performance offered by one party to another
(performances are intangible, but may involve use of
physical products)
65
Some Industries - Service Sector
66
Classification of Services
Pure Intangible
Banking
Service
Good Transportation
Computers
68
The Marketing Mix
69
The “8Ps” of Integrated Service
Management vs. the Traditional “4Ps”
► Product elements
► Place, cyberspace, and time
► Process
► Productivity and quality
► People
► Promotion and education
► Physical evidence
► Price and other user outlays
70
The Give and Get of Marketing
71
Great Words on Marketing
72
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
73
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
74
Stages of Customer Interaction
75
What Changed in Marketing…
76
Are Banks truly
marketing-savvy and
customer - centric?
77
Myth 1 – The larger the range of products, the more
customer-centric I am.
78
Myth 2 – Better technology (read CRM) leads to
better customer service.
Mythbuster – Technology
alone does not deliver,
helps people do.
79
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
80
Myth 4 – The only way to get a customer is from
competition.
Mythbuster – Customers
are not only present
where competition is.
81
Myth 5 – Just advertise and - You will sell.
83
Myth 7 – In the absence of relationships ‘trust’ builds
financial brands
84
So what will the differentiators be :
• Technology ?
• Brand ?
85
The real differentiator of
customer – centricity in a
commoditised world of financial
products -
Customer Service !
86
Thank You
87