First Two Marketing Sins - Copy
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Transcript of First Two Marketing Sins - Copy
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MARKETING SINS
Signs and Solutions
Source:
Ten deadly marketing sins
Signs and solutions
Author: Philip Kotler
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Most handicapping deficiencies in most
companies are:
oInsufficient market focus
oInsufficient Customer orientation
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y Insufficient market focus:
Your company has not gain insight into your
market opportunities.y Insufficient Customer orientation:
your company is not well organized to serve anddeliver the wants and expectations of your customers.
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First major handicap
Insufficient market
focus
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Insufficient market focusy Following signs indicate that your marketers have not
sufficiently analyzed your market:
Poor identification of market segments
Insufficient prioritization of market segments
No market segments managers
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Sign no. 1
Poor identification of market segments
y It indicates that market is not sufficiently focused.
yWhen it is asked from marketers or company that
who you are trying to sell?everyone is not acceptable answer.
Because it is better to establish very strong andsuccessful relationship with a portion of people in a
market than to only marginally connect witheveryone..
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Solutiony You need: better market segmentation techniques.
o Following key points can help better identifying the
segment:1. Try to segment the members of market by different
needs or sought benefits.
2. Try to find demographic descriptors that might
correlate with these needs and benefits to make thesearch easier.
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Sign no. 2Insufficient prioritization of market segments
y In many cases, companies do rightly identify which
segment to target and prepare offerings for eachchosen segment as well but then questions arise :
? Do companies have really measured the relativeattractiveness of each segment?
? Do they have estimated the right ROI in differentsegments?
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SolutionIf company serves more than one segment then :
y identify all the segments to be served as IBM does
(example)y By focusing research on all the segments it is serving,
company will be able to design more compellingofferings than unfocused competitors could present.
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Sign no. 3No market segments managers
y The third major sign of insufficient market focus is no
clear leaders or managers to manage the mostimportant segments.
y Most important segments should have managers whoare empowered to ask for budgets that will produce
companys estimated rate of return.y Those managers should also be rewarded accordingly.
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Solutiony Specialized sales force should be developed for quite
different customer segments.
yTry to hire sales persons who know well about thesegment, customers characteristics.
e.g. you can hire ex-bankers to sell to banks.
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Insufficient Customer orientation
Following signs indicate that your company is not
sufficiently organized to serve and satisfy customers.y It is job of marketing and sales to serve the customers.
y No training programs to create a customer culture.
y No incentives to treat the customers especially well.
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Sign no. 1Job of marketing and sales to serve the customers
y Companies feel convenient in organizing their
employees into departments designed to carry outspecific responsibilities.
yAs different specialists will spend their time inrespective departments, they will naturally assume
that that another department-sales and marketing-will handle customers.
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y This can create problems i.e. customers can get angrydue to
poorly made productlate delivery
wrong invoice
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Solution Develop a clear hierarchy of company values with
customers at the top.
e.g. as J & J declares that customers come first,employees come second and this will give the investorthe best result.
In short if companies employees and customers are
not satisfied, it might close down.
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Sign no. 2
No training programs to create a customer
culture
In many companies, it is considered expensive to trainpeople in other departments to think customers.
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Solutiony Undertake activities that will produce a stronger
customer consciousness.
y
As companies follow strong culture, this needs to bechanged.
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Following activities can be performed:
y Develop a clear hierarchy of groups and values.
y Show how each employees behavior can affectcustomers
y Regularly feature findings on customer satisfaction.
y sponsor a companywide training program in customerservice and satisfaction.
y Make sure that all the distributors and dealers also arecustomer obsessed.
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Sign no. 3
No incentives to treat the customers especially
well
yAs employees know that they are measured by their
departments, they will just focus on it and behaveaccordingly.
y They will not pay much attention to customersbecause of absence of clear measures for their actions.
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Solutiony Make it easy for customers to reach the company
By phone, fax, mail, e-mail
Set a high standard for answering quickly.
The cost of this level of serving is small incomparison with the cost of losing customers.
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SUMMARY
Two deficiencies are studied:
o Insufficient market focus
o Insufficient Customer orientation
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Insufficient market focus
Poor identification of market segments
Insufficient prioritization of market segments
No market segments managers
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Insufficient Customer orientation
y It is job of marketing and sales to serve the customers.
y No training programs to create a customer culture.
y No incentives to treat the customers especially well.
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