TREND & DEVELOPMENT

IN MARKETING IN

LIBERALISED ECONOMYPresented By -- Md Zaffar Raza, Aman Gupta, Shree Ram Mandal , Suman Kumar & Pranay Raj

CONTENT Marketing

What is Liberalized Economy

Customization

Digital Marketing

Industry convergence

WHAT IS MARKETING….?

The action or business of promoting and selling products or services.

The  management process through which goods and services move from concept to the customer.

It includes the coordination of

four elements called the 4 P's of marketing:

Identification, selection and development of a product,

Determination of its price,

Selection of a distribution channel to reach the customer's place.

Development and implementation of a promotional strategy.

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Pepsi launched their Diet Pepsi skinny during Fashion Week 2011. Rather than advertise, the product was integrated into the event. Pepsi hired a journalist with full press credentials to the event. When she published, Pepsi amplified the content on social channels.

Brand positioning: "get the skinny" on fashion and pop culture.

WHAT IS LIBERALIZED ECONOMY …? Economic liberalization is the process of opening up of the

Indian Economy to trade and investment with the rest of the world.

The Economic liberalization in India refers to ongoing economic reforms in India that started on 24 July 1991.

•The act of making less strict

Liberalization

•Changing something from state to private ownership or control

Privatization

•Growth to a global or worldwide scale

Globalization

Till 1991 India had a import protection policy where in trade with the rest of the world was limited to exports.

Foreign investment was very difficult to come into India due to a bureaucratic framework.

After the start of the economic liberalization, India started getting huge capital inflows and it has emerged as the 2nd fastest growing country in the world.

CUSTOMIZATION

The process of delivering wide-market goods and services that are modified to satisfy a specific customer need.

Mass customization is a marketing and manufacturing technique that combines the flexibility and personalization of "custom-made" with the low unit costs associated with mass production.

Tailoring a particular product to the specific needs of an individual customer. It is practiced by companies whose products are very expensive or unique.

Such as custom home builders or airplane manufacturers

BENEFITS OF CUSTOMIZATION

Keeps your firm in season

Increases loyalty and traffic

Marketing benefits

Lower costs

Improves profits

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DELL offers you to choose the size, color, OS, weight, RAM, processor, hard drive, etc. that best suits you. You can also have your laptop assembled and delivered to you within 2 business days I believe. By operating this way,

Dell defines and is a perfect example of mass customization

DIGITAL MARKETING

Digital marketing is marketing that makes use of electronic devices such as computers, tablets, smart phones, cell phones, digital billboards to engage with consumers and other business partners.

Now-a-days Internet Marketing is a major component of digital marketing.

According to recent research, at least $100 million are being spent at present on digital marketing in India

ADVANTAGES OF DIGITAL MARKETING

Fast and Easy access

Improves Customer Relationship

Enhance Credibility

Limit less Networking

Less expensive than traditional marketing campaigns

Easy to measure the success of your campaign

Can reach Large Mass in short period of time

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It was an interesting and unique cricket game. The innovative and exciting online cricket tournament, which has 7 players a side, 7 balls per over and 7 overs an innings saw an enthusiastic participation from Facebook fans. With a total number 10015 teams, total number of fans who joined the Facebook page via the game:

61,760 – a growth of 52% in just 45 days.

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Online video marketing is exploding with more and more people accessing the video channels such as YouTube to share information or only for fun.

http://sunnylandpictures.com/wp-content/uploads/2011/05/VideoMouse.jpg

HOW BUSINESS PRACTICES ARE CHANGING

Organize by product unit to organize by customer segments .

Shift focus from profitable transaction to customer life time value .

Build brand through performance not by advertising . Customer retention , rather than customer acquisition . From none to in depth customer satisfaction

measurement. From over promise under deliver to under promise over

deliver . Shift focus from financial score(sales revenue) head to

also focusing on the marketing fore head (marketing share).

CUSTOMER BRANDING AND YOUTUBE

Customer Branding: Using video-sharing sites such as YouTube to allow consumers

to develop their own video ads for certain products in a contest format

An Example is the Doritos Super Bowl Commercial in 2007

Contest had over a 1,000 amateur video entries, and the winning video was seen by nearly 90 Million viewers

Winning VideoYouTube - Doritos Spicy Cheesy Crunchy bold smooth live the

flavor

EMERGING MARKETING

TRENDS

CUSTOMER BRANDING AND CONSUMER BEHAVIOR

Customer is able to relay back to the company their views on the attributes, benefits and value of the Doritos Brand

Involves the customer into the advertising process

Increases Brand Equity, Customer attachment (For participants and viewers) Positive feelings associated with Doritos

Viewers are able to experience customer views about the Doritos brand (More Factual and Believable)

The evolution of social media is clearly indicative with marketers working on how it gets utilized in the real world.

http://www.brandingeye.com/wp-content/uploads/2009/01/7key_socialmedia_benefits_art3.jpg

Here are more facts to back up social media growth?

The Harris Interactive study says there are 87% online adults using social media.

Highest percentage (22%) uses social media less than 1 hour per week.

Highest percentage of 18-34 yr-olds (17%) uses social media 6-10 hours per week.

ADAPTING MARKETING TO NEW ECONOMY

E business E commerce E marketing E purchasing

Internet domain : ( B 2 B ) ( B 2 C ) ( C2B ) (C2C)

“Companies fail when they become complacent and

imagine that they will always be successful. So we are

always challenging ourselves. Even the most successful

companies must constantly reinvent themselves”.

--Bill GatesChairman and Chief Software Architect

Microsoft

REFERENCES

Definition of Marketing http://www.businessdictionary.com/definition/marketing.html#ixzz2gFRVbOHT

Digital Marketing content - http://www.amentertainment.com www.wikipedia.org Read more: 

http://www.answers.com/topic/customizedmarketing#ixzz2gH6psfN1

Websites used

www.google.com