Group HR 1 GEMS – Marketing module Session 4 Faculty: Dr. Richa Vyas.
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Transcript of Group HR 1 GEMS – Marketing module Session 4 Faculty: Dr. Richa Vyas.
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Group HR
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GEMS – Marketing module
Session 4Faculty: Dr. Richa Vyas
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Group HRLearning from Assignment-1
• Can you relate Customer Value, Customer Dissatisfaction and Complaint Management?
• Did the exercise make you understand the value of Marketing and customer services in the consumer’s life?
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Group HRLearning So far….
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Group HRAgenda for Session-4
• Differentiation• Product Life Cycle• Strategies to Manage PLC
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Group HRDifferentiation
Positioning•PODs- Point of difference are the benefits that are unique to a brand-Dove (3/4 moisturizer), Skoda (Performance)•POPs-Points of Parity, associations that can be shared with some other brands e.g Luxury Car-Stylish / SUV-Rugged
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Group HRDifferentiation- Example
Wal-Mart: Sam Walton took department stores to the hinterlands instead of the cities and made a fortune.
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Group HRDifferentiation
• Hardee’s: When other fast food chains were getting “healthy,” Hardee’s reinvented itself with the Thickburgers. (Unapologetically, the Monster Thickburger contains 1,420 calories!)
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Group HRSteps in Branding
• Define the customer segment• Interpret the attitude, aspiration, thoughts…• Decide a suitable value proposition• Create the communication strategy• Implement and rollout
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Deciding the target sharply
• Who to target?• Write down the characteristics of your target
segment; For Hardee’s it will be Foodies, least careful about calories, enjoys food and have a happy go lucky kind of attitude
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More on Differentiation
• BOSCH• Industrial product• 5 day promise – all
warranty repairs in 5 days• Stressing on high capability
of the technology
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Group HR
Product
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Levels of Products
Product Levels• Core benefit (e.g. hotel
offering rest and sleep)• Basic product (any room with
a bed)• Expected product (room with
attached bath, TV, phone etc.)• Augmented product
(conference facilities, Wifi )• Potential product (customized)
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Product Differentiation
• The form – size, shape, structure (various kinds of soaps)
• Performance quality – level of performance (e.g. Du Pont materials perform better)
• Conformance quality – meeting promised specifications (e.g. CNC machines conforming to Indian shopfloor conditions)
• Durability, reliability (Scoda)• Repairability (Maruti suzuki)• Style
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Product Decisions
• Product Line – number of lines, • Product mix – variants (e.g. Tata Motors –
Passenger Cars – Nano, Indica, Indigo, Sumo, Safari, JLR)
• Line stretching (upward and downward stretch; Nano – JLR)
• Line filling (Indigo CS, Indica Xeta, Sumo Grande)
• Packaging – based on consumer behaviour, brand image etc.
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New Product Development
• Steps:• Idea generation (worthiness of the idea – e-choupal,
Walkman/iPod, Post it)• Idea screening (is the idea compatible with company
objectives/goals/values etc.? Gucci- • Concept development and testing (building a concept that
customers would like to try – feedback from customer segments: Vaseline Body Lotion- Summer-Aloe Vera, Winter-Peach)
• Marketing strategy development – how will this product fight it out in the market?
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New Product Development
• Business analysis – will the product meet profit goals?
• Product development – creating a product that meets the requirements (Standards/Norms/ meeting customer needs – Post It Notes)
• Market testing – are sales as per plans? (New Coke / iPod)
• Commercialization – rollout /launch
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Product Development - Example
Cummins• Modularization – understand each customer’s
operating economics• Adapting product to suit unique customer requirements
– A Big Industrial Client• Focus on growing segments – farmers, healthcare• De-constructing the offering – expected product +
value adds• Roping in distributors to act as partners (welcoming the
sales of add-ons)• Focus on new opportunities – Residential complexes
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Stages of Product Life Cycle
• Introduction• Growth• Maturity• Decline
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PLC – Introduction stage
Tasks for Marketers:• New to the world product ( Kellogg’s – selling the concept –
educating customers• Inducing trials – free packs, trial sessions, affordable
sachets (low risk trials)• Skimming – penetrating the market (rapid
penetration/skimming or slow penetration) – building a ‘must have’ image (Sony Handycam)
• Handholding customers – multi channels for problem solving and information dissemination (LG Microwave ovens – free cookery lessons)
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PLC – Growth stage
Tasks for Marketers:• Innovations to grow acceptance levels – features sought by
mass market (mobile services at cheaper plans)• Mass promotions – differentiation that appeals to a large
customer segment (Fair & Lovely)• Role of channels – mass distribution – enough penetration
– new channels for greater penetration (Hindustan Unilever Shakti Amma)
• Increasing off-takes by focusing on sub-segments – launching several variants (Tata Indica)
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PLC – Maturity Stage
Tasks for Marketers:• Price wars – innovate for beating commoditization (Gillette
Sensor)• Focusing on a different segment to boost sales (Cadbury )• Value additions – giving customers more reasons to buy
(Mobile + PDA + TV)• Niche segments – targeting fence sitters (Colgate Gel /
Total etc.)
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PLC – Decline stage
DECLINE STAGE:• Rejuvenation – create a new differentiation (Soaps-
Dispensers)• Strategic tie-ups – redefining the role of the product
(Many Home appliances companies – contract manufacturing)
• Change the segment • Divest (if category is also in decline stage -
typewriters)
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Home Work
No Homework this time
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Any questions?