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ALL ABOUT MARKETING
PRESENTED BY:MARKETING GROUP(PGDM 2008-10)
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Identifying & meeting human and social needs profitably.
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‘Exchange’
At least two parties Each party has something of value to other party Each party is capable of communication and delivery Each party is free to accept or reject the exchange offer Each party believes it is appropriate or desirable to deal
with the other party
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What is Marketed ?
Goods Services Events Experiences Persons Places Organization
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Marketing environment The marketing environment surrounds and
impacts upon the organization. There are three key perspectives on the marketing environment, namely
'macro-environment 'micro-environment'
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TYPES OF ENVIRONMENT
Micro Company Suppliers Stakeholders
Macro Economic Technological Political-Legal Social-Cultural
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LAWS OF MARKETING Law #1: The Law of Leadership Law #2: The Law of the Category Law #3: The Law of Perception Law #4: The Law of Focus Law #5: The Law of Exclusivity Law #6: The Law of success Law #7: The Law of hype Law #8: The Law of resource
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MARKETING MIX
4P’S PRODUCT PRICE PROMOTION PLACE
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PRODUCT LIFE CYCLE
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Different Stages of Product Life Cycle
Introduction Growth Maturity Decline In reality very few products follow such a
prescriptive cycle. Some go from introduction to decline. It is not easy
to tell which stage the product is in. Remember that PLC is like all other tools. Use it to inform your gut feeling.
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Those activities directly involved in obtaining , consuming and disposing of products and services, including the decision processes that precede and follow these actions
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Overall Model of Consumer Behaviour
Self-Concept&
Learning
Decision ProcessesExternal Influences
Internal Influences
culturalSocial status
demography
Perception
Motives
PersonalityEmotions
Attitudes
Problem Recognition
Information Search
Alt Eval & Selection
Outlet select & Purchase
Post purchase Processes
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MARKET RESEARCH What is Marketing Research ? Systematic design, collection, analysis and
reporting of data and findings relevant to a specific marketing situation facing the company..
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MARKET RESEARCH Why is Market Research required ? Identify & define problems including cause, Important to understand consumer, likes and
dislikes and reasons for them. Design new products or services accordingly. Develop promotional and distribution strategies in
line with consumer preference.
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Market research process
Situation Analysis
Research design
Sources of data
Data analysis
Report preparation
Recommendation and follow up
Preliminary investigation
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Areas of marketing Research
Market Research
area
Product
Price
Distribution channel
Advertising
Sales Promotion
Personal Selling
Brand Packaging
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DEFINATION Market segmentation is the process in
Marketing of dividing a market into
distinct subsets (segments) that behave
in the same way or have similar needs
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Why Segmentation?
To identify Different Segment of Buyers Select One or More segment to enter To select Market Offering To compete Effectively
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Targeting It is the second step in market identification process. It recognizes the diversity of customers and does not try to
please them with the same offering Target market is, the market segment to which a
particular product is marketed. Targeting is the selection of the customers you wish to
service. The decisions involved in targeting strategy include: which segments to targeting how many products to offer which products to offer in which segments
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Positioning
Positioning is the development of a service and a marketing mix to occupy a specific place in the minds of customers within target markets.
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Positioning is all about 'perception'. As perception differs from person to person, so do
the results of the positioning map. The term 'positioning‘ also refers to the consumer's
perception of a product or service in relation to its competitors.
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7 STEP OF NEW PRODUCT DEVELOPMENT PROCESS
IDEA GENERATION. IDEA SCREENING. CONCEPT DEVELOPMENT. BUSINESS ANALYSIS. PRODUCT DEVELOPMENT. MARKET TESTING. COMMERCIALIZATION.
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WHY NEW PRODUCT FAIL OR SUCCED
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Successful factors of new product
Unique feature Understand customer need R&D of the company Innovative idea
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Failure factor…… Lack of product uniqueness or superiority Poor planning Improper Timing Technical problems Inadequate marketing research High cost
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Marketing Strategy
Product Market Growth Strategies
Market Penetration(increase usage)
Product Development(new uses)
Market Development(new users)
Diversification(new users, new uses)
Markets
Products
Old
Old
New
New
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Marketing Strategy
Difference Between where we want to go & where we are.
A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage[3 A marketing strategy should be the key concept that customer satisfaction is the main goal.
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NICHE MARKETING
A NICHE IS A NARROWLY DEFINED CUSTOMER GROUP.SEEKING A DISTINCTIVE MIX OF BENEFITS.
CUSTOMER ARE READY TO PAY A PREMIUM AMOUNT.
NICHE IS FAIRLY SMALL SIZE,BUT HAS PROFIT AND GROWTH POTENTIAL.
NICHE MARKETERS AIM TO UNDERSTAND THEIR CUSTOMER NEEDS VERY WELL.
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EXAMPLES…………
EZEE – LIQUID DETERGENT QTV,AASTHA – T.V CHANNEL HALL MARK – PERSONAL EXPRESSION CARD D.C - CAR MODYFICATION FIRM
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Distribution Channel There may be a chain of intermediaries, each
passing the product down the chain to the next organization, before it finally reaches the consumer or end-user.
This process is known as the 'distribution chain' or the 'channel.'
Each of the elements in these chains will have their own specific needs, which the producer must take into account, along with those of the all-important end-user
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Types of Distribution
Intensive Distribution Exclusive Distribution Selective Distribution
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BRANDING What is Brand? E.g. of the brand : Orange : Wherever you go, our network follows. Reliance India Mobile : Kar lo Duniya Mutthi
Mein. Raymond : For the complete man. Tata Salt : Desh ka namak Nokia :Connecting people Aaj Tak : Sabse Tej.
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Role of Brand Management: Long Term
Short Term
Types of Brands: Manufacture Brands. Dealer Brands.
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CONCEPT OF INTERNATIONAL MARKETING
Domestic market extension Multi –domestic market Global marketing
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REASON FOR GOING INTERNATIONAL
Saturated home market Competition Excess capacity Advantage in product, skill or technology Product life cycle differences Geographic diversification Organizational reasons Financial reasons
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DO’S AND DON’T’S IN MARKETING
Do’s Time Plan & Prioritize Renewing Contacts Relationships Enthusiasm & Momentum Praise Logically Rhetorical Find & Help
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DO’S AND DON’T’S IN MARKETING
DON’T’S
Trifling – Conversations Never Fail –Appreciation ; Lead Never Forget & Never Let Commitments – Clients/Customers Inside; Outside – Ball court Don’t Only Products – But also Ideas Trickery & Subterfuge – Dishonest action to achieve aim Meet & Greet Convince & Confuse
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THANK
YOU !