Professional Documents
Culture Documents
Deepa Sahasrabuddhe
What is Marketing?
What is marketing
Exchange
Marketer
Prospect
The one who seeks a response The one response if sought from
What kind of response?
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What is marketing
Marketing is an organisational function and a set of processes for identifying, creating, communicating and
delivering value to customers and
for managing customer relationships in ways that benefit the organisation and its stakeholders
Goods
Services
EVENTS
Experiences
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PERSONS
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PLACES
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PROPERTY
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ORGANISATIONS
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INFORMATION
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IDEAS
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Entities Marketed
Goods
Services
Events
Experiences Persons
Places
Properties
Organisations
Information Ideas
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What is a market?
A place or space to buy and sell
Marketplace - local bazaar
Marketspace - chembargains.com
Metamarket - makemytrip.com
Demography
Geography
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Global
Types of Markets
Consumer
Business
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Core Concepts
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Hungry person NEEDS nourishment / food WANTS roti / burger / pasta / milkshake
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Club
Physiological, psychological Needs common across human race Needs already exist Marketer enhances need & creates drive/motive and directs to `want Wants are `created `influenced
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Types of Needs
STATED NEED
GOOD WATCH MULTIPLE FEATURES; STURDY
REAL NEED
UNSTATED NEED DELIGHT NEED
ACCURATE
LIFETIME WARRANTY PERCEIVED AS FASHIONABLE / SUCCESSFUL
SECRET NEED
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BUSIN ESS
STRATEGIC: Expands vision & identify new opportunities BUSINESS: Tailor marketing mix
STRAT EGIC
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Core concept
Value proposition, Offering and brand
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Production Concept
Product Concept
Selling Concept
Marketing Concept
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Society
Information Age Globalisation De-regulation Competition Convergence Disintermediation Retail
Consumer
More savvy Bargaining Power Less loyalty Resistance to marketing
Company
Customer insight Targeting Tailoring offering Communication Delivery
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it
From brand building thru advertising to 360 degree communication
Integrated Marketing
Internal Marketing
Holistic Marketing
Performance Marketing
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Relationship Marketing
(market research) Understanding benefits, translating into attributes, retranslating into benefits for customer
CREATING VALUE Developing strategies (STP and Branding) Shaping market offerings mktg mix
Control)
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Demand Management
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being marketed? Medipoint Hospital Disneyland IPL Save Pune Traffic initiative Reliance Media Mutual Fund Videocon
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Experiences
Persons Places
Properties
Organisations
Information
Ideas
`selling to `relationship marketing w.r.t. customer 1. A local grocer 2. An insurance agent 3. Blood bank 4. a durables manufacturer 5. non-durables manufacturer
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Internal Evaluation
Describe how each of the following may go beyond
`selling to `relationship marketing w.r.t. customer (10 marks) 1. An insurance agent 2. A restaurant
Identify what is being marketed (5 marks)
Cinthol Soap
Rowhouse in Lavasa
Take-home Assignment
Is 'socially responsible / social responsibility
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Environment Scanning
Executive MBA SCIT Fundamentals of Marketing - Topic 2
Deepa Sahasrabuddhe
Ground to cover
What is environment scanning
What is a marketing information system
Components of a MIS
Sources of information Environment Forces to monitor
Business Landscape
Political unrest in Bangkok May 2010 impacts business operations for more than a month. Companies look towards Vietnam and Indonesia as alternatives
ECONOMIC TIMES REPORTS Wal-Mart seeks US govt help in getting into Indian retail market 30 May 2010, 1551 hrs IST,PTI
Business Landscape
Indian Govt. Policy does not permit FDI in multi brand retail. Wal Mart restricted to wholesale cash and carry business.
Business Landscape
4 Billion people with an income annual income less 1500 USD in PPP ... Pocket economy of availability , accessibility and affordability
YET
Business Landscape
E-books, Digital book readers and online retailers put pressure on business models of publishing industry
MIS components
What is happening
What has happened
Databases and data mining
MACROENVIRONMENT Demographic Economic Cultural Competitor Political and legal Technological Natural
Sources of information
Secondary sources
Primary sources
Published material like newspapers/ magazines/trade journals / internet Industry associations Financial Analysts Government publications/policies/ official websites Aggregating services
Employees Consultants Customers Suppliers Dealers / distributors Intermediaries / mystery shoppers Competitors
macro-factors
Trends: Sequence/direction of some momentum and
durability. Observable across several mkt areas. (health/envmt consciousness; back to roots; multi tasking; self gratification; role blurring)
Mega trends: slow to form but BIG in impact (large
sections of society affected, impacts macro factors), long lasting. Driven by multiple trends
!!!!!!
Less for less Lesser Choice Better technology and `fulfillent focus leading to less mobility
Demographic
Age composition 70% less than 35 yrs; 7% > 60 yrs Gender composition Occupation Education levels Geographic distribution Urban / Rural Coast / inland
ECONOMIC
Current and anticipated stage of economic cycle
Inflation
CULTURAL
Culture manifests in language, values and attitudes, lifestyles Some trends: Changing gender roles Concern for natural environment Premium on time
Physical fitness and health Return to religion and roots
CULTURAL
Effect of culture on work place values: Geert Hofstede Dimensions India Avg High
Power Distance Individualism Uncertainty Avoidance LTO Masculinity 77 48 40 65 56 56.5 104 (Malaysia) 42 91 (USA) 65 112 (Greece) 48 118 (China) 51 79 (Austria)
NATURAL TECHNOLOGY
POLITICAL AND LEGAL
performance What to look for while scanning environment. Fads, Trends and Mega trends What are sources of information for environment scanning What is the role of MIS in the business
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