MM-1 PR-2

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Lecture Plan:

Lecture Plan What is Marketing??? What things can be Marketed? Core Concepts.

What is Marketed?:

What is Marketed? Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas

Core Marketing Concepts:

Core Marketing Concepts Needs, wants, and demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment

Needs, wants, and demands :

Needs, wants, and demands Needs : Basic Human requirements. Wants: Needs become wants when it is directed towards some specific object . Demands : Wants become demands when customers have the ability & willingness to pay.

Target markets, positioning, segmentation :

Target markets, positioning, segmentation Segmentation: Identification of distinct groups of customers who are looking for different benefits from the same product. Target Markets: Selection of segments which a firm wants to serve. Positioning: It is creating a distinct image in the mind of customers.

Offerings and Brands:

Offerings and Brands Offerings: Combination of Products, services, information and experiences. Brand : an offering from known source.

Positioning:

Positioning Press ads of the Scorpio focused on the functional features of the vehicle and the television ads focused on emotional benefits.

Company Orientations:

Company Orientations Production Selling Marketing Product

Production Concept:

Production Concept Consumer will prefer products Inexpensive Widely available Production oriented firms focus on High production efficiency Low cost Wide distribution You can have any colour as long as it is ‘BLACK’

…… Contd:

…… Contd When do Firms Use Production Concept : Economy is Initial Phases of Development. Demand Exceeds Supply. Target Market is Lower Segment of the Market.

Product Concept:

Product Concept Focus is on quality, performance & innovation . Making superior product & improving them over period of time. Marketing Myopia. Changes in Technology .( eg Kodak, Carbon Paper, Type Writer Manufacturer, Nokia) Changes in consumer needs ( eg Singer, OS for Mobiles).

Marketing Myopia:

Marketing Myopia

Selling Concept:

Selling Concept Focus on aggressive selling (hard selling) & promotion . Unsought goods Products which are not doing well in the market.

Selling is only the tip of the iceberg:

Selling is only the tip of the iceberg “ There will always be a need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available.” Peter Drucker

News Clipping:

News Clipping Apple said that it received over 2 million advance bookings for iPhone 5 within the first 24 hours of pre-orders. This is double the number of pre-bookings the company received for the iPhone 4S last year. Philip Schiller, the senior vice president of worldwide marketing for Apple called the customer response "phenomenal."

News Clipping (Impact of Qualis):

News Clipping (Impact of Qualis) On the utility vehicle (UV) front, the company is seeing its worst days yet. In the April-November period this year, while total UV segment sales increased 12 per cent over April-November 1999, M&M's UV sales fell almost 19 per cent . During these months, M&M sold 35,794 units compared to 43,652 units in the previous comparable period. Long-time competitor Telco sold 19,705 units in April-November 2000 compared to 19,700 units the previous year, while Toyota Kirloskar's Qualis sold 19,400 units during April-November 2000 .

Marketing Management?:

1- 17 Marketing Management? Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

Reactive Marketing:

Reactive Marketing Meeting customer’s expressed needs Eg Toyota- Qualis Honda- Activa Proactive Marketing Focus on customer’s latent needs Eg . i -phone, Garnier Shampoo, Android, Eveready LED Lamps.

Successful Products:

Successful Products i-phone SHAMPOO + OIL REVIVE LED-LANTERN

Figure 1.4 Holistic Marketing Dimensions:

Figure 1.4 Holistic Marketing Dimensions

Figure 1.5 The Four P’s:

Figure 1.5 The Four P’s

Evolution of Marketing in India:

Evolution of Marketing in India 1980’s a customer books a scooter & gets a delivery after 5-6 years. Telephone connection. Car producers had only one model. Post 1991 Scenario started changing: Indian examples (Qualis, Activa, LG,Samsung,Titan , Tata-Ace, Wheel etc.)

Four P’s:

Four P’s Co-ordination of activities under various P’s improves the effectiveness significantly. Opportunities for changes across various P’s varies. eg 1. Volkswagen’s ad Volkswagen Talking Newspaper Ad - YouTube.FLV 2. SBI’s Launch of Flexi-savings a/c.

Internal Marketing:

Internal Marketing Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well.

Performance Marketing :

Performance Marketing Financial Accountability Social Responsibility Marketing Social Initiatives Corporate social marketing Cause marketing Cause-related marketing Corporate philanthropy Corporate community involvement Socially responsible business practices

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