Marketing Techniques 1111111

8/8/2019 Marketing Techniques 1111111

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I. Trend:1. Psychological Pricing

A. This approach is used when the marketer wants the consumer to respond on an emotional,

rather than rational basis. For example 'price point perspective' 99 rupees not one

hundred.

B. Why and When to use it : This strategy is focused on the ego and self image of

buyers - this sounds negative; it's not intended that way, it's simply a realistic assessment

of why and when this price strategy can work. If the product or service has some ego-

sensitivity for the buyers and for the market as a whole, this price strategy will be

successful.

C. This pricing strategy also considers that buyers are used to uneven (non-rounded)

Hundred pricing and that consumers feel they are getting a 'deal' when this type of pricing

is used. It is still a very common pricing strategy in consumer markets but is not used as

often in markets focused on business to business selling.

Technique:

Bata- Thomas Bata, founder of the Toronto-based Bata Shoe Company.

Advertise through following modes,

1. Fashion shows.

2. Direct Marketing. (Targeting schools)

3. Trade shows.

4. SUPER DAY: Bata India sponsored a sports and cultural program at Dhanpota Marudyan

Primary and Junior High schools.

II. Trend:2. False Evidence Appearing Real - The Definition of Fear.

A. Most people react to fear before it happens because they make an assumption of what

might happen if I expose myself to or take this step. We have a saboteur in our brain

which keeps us on the straight and narrow because it knows where you are is secure, safe

and we can protect ourselves from this illusionary fear which we see in front of us. There

really is no fear. We create the fear due to our inability to confront the fear. We can get

through it if we had the courage.Yet most people retreat from the false evidence they

perceive (see) before them. Unfortunately there is not any possible way we can see that

this false evidence is actually appearing real if we are in an illusion which is more real to

us than the actual truth in what we perceive (seeing).


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B. In real estate investing, as in any venture in your life, you will have to step out on faith.

This simply means that you believe that something good will happen; that you will be able

to make it work. Stepping out on faith means that you believe in yourself. This doesn't

mean that you go off half-cocked, but that you prepare yourself and know that you will be

able to deal with the unknown. Levis 514

Technique:

Advertise through following modes,

1. Fashion shows (latest with Akshay kumar 501.)

2. Online Marketing: "We are shifting [ad spend] from TV and print to things like online

engagement marketing, like events," Patrice Varni, Levi's director of Internet and consumer

marketing.

3. Guerrilla marketing.

III. Trend:3. Referral marketing.A. Referral marketing is a structured and systematic process to maximize word of mouth

potential. Referral marketing does this by encouraging, informing, promoting and

rewarding customers and contacts to think and talk as much as possible about their

supplier, their company, product and service and the value and benefit the supplier brings

to them and people they know.

B. One common thread among all professional sales people is that a flow of referrals is

directly related to sales. It does not matter what the industry isit could be Real Estate,

Insurance, Automotive, Travel, Nutrition,etc.A warm, personal referral is the most

important gift that a sales or marketing professional can receive. EBIZ example.

Technique:

1. Internet marketing.

2. Mouth to- mouth.


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IV. Trend:4. Societal marketing.

A. The concept has an emphasis on social responsibility and suggests that for a company toonly focus on exchange relationship with customers might not be suitable in order to

sustain long term success. Rather, marketing strategy should deliver value to customers in

a way that maintains or improves both the consumer's and the society's well-being.

B. Societal marketing should not be confused with social marketing. The societal marketing

concept was a forerunner of sustainable marketing in integrating issues of social

responsibility into commercial marketing strategies. In contrast to that, social marketing

uses commercial marketing theories, tools and techniques to social issues. Social

marketing applies a customer orientated approach and uses the concepts and tools used

by commercial marketers in pursuit of social goals like Anti-Smoking-Campaigns or fund

raising for NGOs. Example standard chartered BANK organize Mumbai marathon.

Technique:

1. Relationship marketing.

2. Field marketing.

3. Contextual marketing. (Pop up ads on website)

4. Mobile marketing.


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Marketing Techniques 1111111