Introduction to Mark Concept

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Introduction to Marketing Concept, Evolution of

Marketing & Customer Orientation


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MARKETING CONCEPTS


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What is Marketing ?

Caf Coffee Day


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Touch by Marketing


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Business = Marketing

When it is Practicedto near perfection..

Manyentrepreneurs assume

Business = Marketing

Peter Drucker,B

usiness has justtwo basicfunctions, Marketing & ..


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Why is Marketing Important ?


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Example

Value Proposition


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Identifying and meeting human social

needs

Example


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Thus we seeMarketing Management as

theart & Science ofchoosing target

markets & getting, Keeping, & growing

Customers through creating,delivering, &communicating Superior Customer Value.


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Needs / Wants / Demand

Needs arethe basic human requirements.

These needs becomewants when theyare

directedto specific objects that might

satisfythe needs

Demands arewants for specific products

backed byan abilityto pay.


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MARKETING CONCEPTS

m

Needs Wants Demands

What

Influencer

Instance

Marketers

Basic

satisfaction

Existing, few

Specific satisfiers of

Deeper needs, wants

Are many

Specific Wants for

Products wants+

Purchasing power

Ability& willingnessto buy

Natural not

createdShaped by social,

Family,Inst Pramotion

Shaped by status,

Aspirations

Food,clothing,

belonging

Needs food,wants

Mcdonalds, Needs

Clothes want AllenSoly

Needs car/TV,wants

Luxary,flat TV

demands Plasma tv

Existing,

Minimum

Influence,House

Influence wants,

Affordable &

Available bank loans

EMIs 3Bed Room

Influence demand by

Making product

Attractive,aspirational

Status Duplex/Bunglow

Marketing Concept


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What is Marketed ?

Meeting human Needs

Who are our Customers ?

Whataretheir needs ?

What mustwedo to meettheir needs ?


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Goods

Services

Events

Experiences

Persons

Place

Organizations


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Marketing Myopia

Customer buy

Benefits/ Service/

Solutions/ Value

satisfactions. NotProduct


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In 1991 CRM thedept

took morethan 12

weeks to respondto

customer grievances Cost ofCompensating

customerwas rising.


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Identify buyer subsets with similar needs

demonstrating similar buyer behavior-

segmentation

Segment- Viable, profitable, measurable,potential Competitive.


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Segmentation- Whereto

compete

Cars

Market Segment 1 Segment 2 Segment 3

Private Company Taxi


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Geographic

Demographic

Age, gender,family size and

life cycle, orincome

PsychographicSocial class, lifestyle,

or personality

BehavioralOccasions, benefits,uses, or responses

Nations, states,regions or cities

Segmentation Criteria


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Targeting Strategies

Standardization-Firm offer same product

to different market segments, It uses the

same communication, pricing &

distribution strategy Eg- Coke, Pepsi whoretain sameflavor,advertising , packaging

.

Customization


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Physical Positioning

NANO Thewonder CAR


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Limitation ofphysical Positioning

A Simple comparison ofonlythe physical

dimensions ofalternative offerings usually

does not providea complete picture of

relative positions.


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Position thatfirms successfullyhave

claimed in India

Beauty-Lux

Premium-Bose,Benz

Thanda-Coke

World Scale-Reliance

Generic-Cadbury/ xerox/ Amul Butter

Delivery-Dominos Blue Dart

Service-PrivateBanks, Maruti


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claimed in India

Fastfood-Udipi, VadaPava, Sandwich

Range-Vijay sales, Alfa, Nokia

Youth-Pepsi

Fever-Crocin

Innovation-Sony,Casio

Macho-EnfieldBullet

Performance- Nokia,Bata,Titan


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claimed in India

Friendly Salesman-EurekaForbes

Reach-HLL, Glaxo, Colgate

Kids-McDonalds, Esselworld, J&J

Indian MNC-Ranbaxy, Infosys,Wipro

Economy-Big Bazar

Value-Dollar Shops,Factory Outlets

Tourism- Goa, Kerala, Rajasthan Headache-Saridon,Anacin


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Role ofMarketing in Modern organization

Therole ofmarketing in modernorganization is that ofintegrating theneeds & wants ofthe customers withother organizational functions likeproduction, R&D,finance, & personnel,examples oftoday's companies showthatneither marketing norany otherfunction

aloneholds thekeyto success, Rather,allare important.


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PRODUCT

Product-offeredto satisfy need/wants

1 Product-Tangible

Services-Intangible

2 Products also deliver services eg car,

3Focus on products servicerisky

eg TV,Fridge, AC without back-up serviceteam


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BRAND

Brand An identifying symbol/words/

markdistinguishing a product

company,from its competitors.

Branding is essential part ofmarketing

Brand=functional+Economic+Emotional

Nokia-functional,Amul-Economic

Saffola-Emotional


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Market

Market:- Potential +Existing customers sharing a

common needs/wants,able & willing to

engage/enter in exchangeto satisfytheir needs/

wants eg:- Pharma Market=Doctors+ Hospitals+

Trade


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Value

Consumers estimate ofthe

utility/capacity ofa product/ brandto

satisfytheir needs. Fairreturn

Price is whatyou pay, value is whatyougeteg: Mobiles,


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Customers-onewho buys goods or servicesMother

Consumer- onewho consumes, but may or may nothave purchased

Client- A Customer/ Consumer/partywho pays forprofessional services, lawyer,Hotel, Consultancy

Customer Satisfaction-Core quality, services, value,Desire(within an arms length ofdesire, coke)

Consumers Delight( Kingfisherairlines)Delivery

(Bluedart) Services (icici bank)


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Marketing Mix

One ofthe major objective ofany org is to becomea

market leader. This applies not onlyto company but

even to non- profit making org likeeducational

institutions,hospitalhence marketing mix

The concept ofmarketing mix involves a

deliberate & careful choice oforganization, product,

price, promotion & place strategies & policies


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Marketing to Non profit &social causes

Family planning, Child care, immunization


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Marketing

Marketer- M.Mix+ StrategyBrand

Value

Customer


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Marketing Warfor Customer share

July 2000 TV channel star launchedKBC at9pm

Reward1cr-Roaring Success

Rest, cinemahouse, Mktweredesertedat9pm

V/SZee TV Sawal dus crka-Anupam kher

prize money10times ofKBC

V/S

Sony Chappar phadke-Govinda


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In 2005KBC backafter 2 yrs

Various Incentiveto Buy Airticket Jet,

Sahara Spice jet


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Mission:

Createadifference between companys &

Competitors offering on aattribute

importantto customers,to provide

value,scope.


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Defination

Identifying, Creating, managing demandto

provide valueto a customerfora profit-

Kotler

Mgmt process that Identifies,

anticipates , satisfies customer

requirements profitably.


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Theright product, in theright place,atthe

righttime,attheright price-Adcock

Marshalling Organizational resources to

meet changing needs ofthe customer.-Palmer


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Marketing

Holistic Marketing:From productto

customers focus,from selling products to

satisfying customers.

Visualizing broaderways to servecustomers & assess howall departments

affect customer satisfaction-delivery,

service & Performance.


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Planning

Process ofanticipating futureevents &

conditions to determinethe bestwayto

achieve organizational objectives.


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Market Planning.

Strategic Planning:

Tactical Planning:


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Management

Optimal utilization ofresources toachieve objectives

1. Management is doing things right,

leadership is doing rightthings-PeterDrucker

2. Manager-Responsibleforapplication &performance ofknowledge-Peter D.

3. Marketing Management: DemandManagement.


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Supply Chain


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IMC

I d M k i


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Integrated Marketing

Communication


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Documents

Introduction to Mark Concept