Sbi Associates Po 2014 Marketing

7/21/2019 Sbi Associates Po 2014 Marketing

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SBI ASSOCIATES PO 2014 - Marketing Notes - IHello ReadersAs !e all kno! SBI Asso"iates PO e#a$ !ill %eld in t%e $ont% o& No'e$(er 2014 and Marketing is asked in t%e e#a$) Starting toda* !e !ill tr* to +ro'ide Noteson Marketing e'er*da* !%i"% !ill %el+ *o, in t%e e#a$) Ho+e it %el+s

What is the market?An* str,"t,re !%i"% $a* (e a +la"e or $a* not (e "an (e de&ined as t%e $arket t%at allo!s (,*ers and sellers to e#"%ange an* t*+e o& goods ser'i"es and

in&or$ation) It "an also (e "alled as an arrange$ent "onstr,"ted (* (,*ers and sellers) It &a"ilitates trade and ena(les t%e distri(,tion o& reso,r"es in a so"iet*)

Thus a market:1) It esta(lis%es t%e +ri"es o& goods and ser'i"es)2) It "onsists o& s*ste$s instit,tions +ro"ed,res so"ial relations and in&rastr,"t,re).) It (rings a sense o& "o$+etition)4) It !orks on a (asi" &or"e o& de$and and s,++l*)

Types of market:

On the basis of place1) /o"al $arket2) National $arket.) International $arket

On the basis of time1) er* s%ort +eriod $arket2) S%ort +eriod $arket.) /ong +eriod $arket4) er* long +eriod $arket

On the basis of competition1. Perfectly competitive It "onsists $an* sellers) E)g) Mo(ile $arket internet +ro'iders et")2. Imperfectly competitivea3 Mono+ol* one seller) E)g) Indian Rail!a*(3 ,o+ol* t!o sellers)"3 Oligo+ol* &e! sellers) E)g) +etrole,$ +rod,"t $arketd3 Mono+olisti" $an* sellers

On the basis of product1. onsumer market- T%ese are t%e $arkets !%ere +rod,"ts and ser'i"es (o,g%t (* "ons,$ers &or t%eir o!n and &a$il* ,se)

Types:!a" #ast movin$ consumers $oods !#%&"

Hig% 'ol,$e

/o! ,nit "ost

5ast and &re6,ent +,r"%ase

'.$. Bis",its soa+s detergents ne!s+a+ers et")

!b" onsumer durables

/o! 'ol,$e

Hig% ,nit "ost

'.$. (5ree7e T "o$+,ters $otor(ikes la+to+s et")

!c" )oft $oods * It is like "ons,$er d,ra(le)

/o!8%ig% 'ol,$e

Hig%8lo! ,nit "ost

5re6,entl* +,r"%ased

'.$.Clot%es s%oes s+e"s et")

!d" )ervices


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Targeted "ons,$ers

Brand na$e $ore i$+ortant

Intangi(le

'.$. ( Healt% ins,ran"e (ea,t* +arlo,rs ins,ran"e et")

2. Industrial market*T%ese $arkets are not intended dire"tl* to "ons,$ers (,t a$ong (,siness$en)

5inis%ed goods $arket

Ra! $aterial $arket

Ser'i"es

'.$. (A""o,ntan"* legal ad'i"e se",rit* ser'i"es !aste dis+osal ser'i"es et")

What is a market economy?It is an e"ono$* s*ste$ in !%i"% e"ono$i" de"isions regarding $onetar* "ontrol +rod,"ts and t%eir +rod,"tion and $et%ods and "ontrol o'er distri(,tion are(ased on s,++l* and de$and) T%ese are de"ided solel* (* t%e aggregate intera"tion o& a "o,ntr*9s "iti7ens as "ons,$ers and (,sinesses and t%ere is 'er* littlego'ern$ent inter'ention or "entral +lanning)

Sin"e in $arket e"ono$* $arkets are go'erned (* t%e la! o& s,++l* and de$and t%e $arket itsel& !ill deter$ine t%e +ri"e i& goods and ser'i"es)

B,sinesses "an de"ide !%i"% goods to +rod,"e and in !%at 6,antit* and "ons,$ers "an de"ide !%at t%e* !ant to +,r"%ase and at !%at +ri"e) T%e +ri"es o&goods and ser'i"es are deter$ined in a &ree +ri"e s*ste$) In s,"% e"ono$* t%e go'ern$ent allo!s and +rote"ts o!ners%i+ o& +ro+ert* and e#"%ange):o'ern$ent +la*s an i$+ortant role as t%e +rote"tor o& +ro+ert* rig%ts and indi'id,al li(ert*)

In t%eor* $arket e"ono$* is "o$+letel* di&&erent & ro$ +ra"ti"al $arket e"ono$*) Ho!e'er $ost de'elo+ed nations toda* "an (e "lassi&ied as $i#ed e"ono$iest%e* are o&ten said as $arket e"ono$ies (e"a,se t%e* allo! $arket &or"es to dri'e $ost o& t%eir a"ti'ities t*+i"all* engaging in go'ern$ent inter'ention onl* tot%e e#tent t%at it is needed to +ro'ide sta(ilit*) It "an (e "ontrasted !it% +lanned e"ono$* or "entrall* +lanned e"ono$* in !%i"% go'ern$ent de"isions dri'e $ostas+e"ts o& a "o,ntr*;s e"ono$i" a"ti'it*)

What do you understand by %arket Penetration?Market Penetration is (asi"all* a strateg* to in"rease t%e (ase or $arket s%are o& t%e e#isting +rod,"t) It is one o& t%e &o,r gro!t% strategies o& t%e n(randed It does not "arr* an* (rand na$e)

Read $ore=%tt+=88!!!)(ankersadda)"o$820148108s(i-asso"iates-+o-2014-$arketing-notes-i)%t$l?i#77.H@Ri/lO#

SBI ASSOCIATES PO 2014 - Marketing Notes - IIHello ReadersAs +ro$ised %ere !e are +ro'iding *o, all t%e Marketing Notes &or SBI Asso"iates PO 2014) Please re&er to t%e +re'io,s +ost o& t%e Marketing Notes too) T%e linkis gi'en at t%e end o& t%e +ost) Ha++* Reading

What is a $ood?It "an (e de&ined as so$et%ing t%at is intended to satis&* so$e !ants or needs o& a ",sto$er !it% so$e e"ono$i" ,tilit*)

Types:

On the basis of tan$ibility
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!a" Tan$ible $oods Ho!e'er in e"ono$i"s all goods are "onsidered tangi(le (,t in realit* "ertain "lasses are not tangi(le like in&or$ation) All tangi(le goodso"",+* +%*si"al s+a"e)

!b" Intan$ible $oods - Cannot (e +er"ei'ed (* to,"%) E)g) in&or$ation it is di&&erent &ro$ ser'i"es (e"a,se &inal in goods "an (e trans&erra(le and traded (,t notser'i"es3On t%e (asis o& relati'e elasti"it*

!a" 'lastic $oods It is one &or !%i"% t%ere is a relati'el* large "%ange in 6,antit* d,e to a relati'el* s$all "%ange in t%e +ri"e)

!b" Inelastic $oods It is one &or !%i"% t%ere is 'er* little "%ange in 6,antit* d,e to relati'e "%ange in t%e +ri"e)

/ote (1) Nor$al goods Elasti"it* is greater t%an 7ero)2) In&erior goods Elasti"it* is s$aller t%an 7ero).) /,#,r* goods Elasti"it* is greater t%an one)4) Ne"essar* goods Elasti"it* is less t%an one)

Other types:!a" onvenience $oods (T%ese are easil* a'aila(le to "ons,$ers !it%o,t an* e#tra e&&orts) It $ostl* "o$+rises non-d,ra(le goods) E)g) &ast &oods s!eets"igarettes et")!b" )taple convenience $oods T%is t*+e "o$+rises (asi" de$ands like (reed s,gar $ilk et")!c" Impulse convenience $oods T%ese are goods !%i"% are (o,g%t !it%o,t an* +rior +lanning !it% i$+,lse) E)g) Candies "%o"olates !a&ers)!d" onsumer $oods T%ese are &inal goods t%at are (ro,g%t &ro$ retail stores to $eet t%e needs and !ants)!e" 'mer$ency $oods T%ese are goods t%at are (o,g%t 6,i"kl* !%en t%e* are ,rgentl* needed in t%e ti$e o& t%e "risis) T%ese are t*+i"all* distri(,ted at t%estores)'.$. (Tents &las%lig%ts lig%ters s%o'els ,$(rellas et")!f" )pecialty $oods (T%ese goods are ,ni6,e or s+e"ial eno,g% to +ers,ade t%e "ons,$er to e#ert ,n,s,al e&&ort to o(tain t%e$) I t $eans t%at t%e* are (o,g%ta&ter e#tensi'e resear"%) E)g) esigner "lot%es +ainting +er&,$es li$ited edition "ars st,nning design t*+i"all* e#+ensi'e anti6,es dia$onds !eddinggo!ns et")

What is a customer?C,sto$er "an (e de&ined as t%e re"i+ient o& a good ser'i"e +rod,"t or idea o(tained &ro$ a seller 'endor or s,++lier &or a $onetar* or t%eir 'al,a(le"onsideration)

Types:!a" Intermediate customer T%ese are !%o +,r"%ases goods &or resale)!b"0ltimate customer T%ese are "ons,$ers)

What is a aptive %arket?Ca+ti'e $arkets are $arkets !%ere t%e +otential "ons,$ers &a"e a se'erel* li$ited a$o,nt o& "o$+etiti'e s,++liers T%eir onl* "%oi"es are to +,r"%ase !%at isa'aila(le or to $ake no +,r"%ase at all) Ca+ti'e $arkets res,lt in %ig%er +ri"es and less di'ersit* &or "ons,$ers) T%e ter$ t%ere&ore a++lies to an* $arket !%eret%ere is a $ono+ol* or oligo+ol*)

E#a$+les o& "a+ti'e $arket en'iron$ents in"l,de t%e &ood $arkets in "ine$as air+orts ands+orts arenas and &ood in ails +risons)

What is %arketin$?Marketing is t%e a"ti'it* set o& instit,tions and +ro"ess &or "reating "o$$,ni"ating deli'ering and e#"%anging o&&erings t%at %a'e 'al,e &or ",sto$ers "lients+artners and so"iet* at large) It is a &,n"tion t%at links "ons,$ers +,(li" to t%e $arketer o& a +rod,"t t%ro,g% in&or$ation) Here t%e in&or$ation addresses t%eiss,es regarding all as+e"ts o& t%e +rod,"ts) Prod,"ts "an (e tangi(le or intangi(le) It di&&ers &ro$ selling (e"a,se in selling t%e $ain $oti'e re$ains t%e$a#i$i7ation o& +ro&it (* !a* o& selling a +rod,"t (,t !it% a(sen"e o& 'al,e (,t in $arketing 'al,e is also "onsidered at t%e +ar !it% +ro&it) So $arketing is aintegrated e&&ort to dis"o'er "reate raise and satis&* ",sto$er needs !it% 'al,es) It is one o& t%e "o$+eting "on"e+ts !%i"% "an (e looked as an organi7ational

,$(rella &,n"tion to (ene&it t%e organi7ation !it% s,+erior ",sto$er 'al,e)

What is niche marketin$?Ni"%e $arketing is a t*+e o& $arketing in !%i"% a narro!l* de&ined ",sto$er gro,+ is targeted) It &o",ses on s$all seg$ent o& "ons,$ers !%o %a'e ,ni6,e andsi$ilar needs)

T%e $arket in !%i"% t%is $arketing te"%ni6,e is a++lied is "alled ni"%e $arket) E)g) Bla"k(err* a++li"ation or Android a++li"ation s+orts "ar l,#,r* "ars internet(ased $arketing et")

T%is te"%ni6,e o& $arketing "an (e "ontrasted !it% $ass $arketing)

What is elationship %arketin$?Relations%i+ Marketing is a te"%ni6,e o& $arketing !%i"% in'ol'es "reating and $aintaining strong ties !it% ",sto$ers and ot%er +arties like dealers s,++liers"ontra"tors s%are%olders stake%olders e$+lo*ees et")

T%is te"%ni6,e re'ol'es aro,nd a "on"entri" "%ain o& long ter$ relations%i+) It also in"l,des Partner Relations%i+ Manage$ent PRM3 a+art &ro$ C,sto$erRelations%i+ Manage$ent CRM3) Its $ain o(e"ti'e is to &ind $aintain and en%an"e t%e ",sto$er (ase and $,t,all* long ter$ satis&*ing relations%i+)InRelations%i+ Manage$ent (,*er and seller "ontin,o,sl* i$+ro'es t%eir ,nderstanding and t%,s t%e* (,ild ,+ $ore lo*alt* to!ards ea"% ot%er) T%e &inal +rod,"t o&t%is s*ste$ is a,ni6,e asset t%at is $arketing net!orkD)

This marketin$ techniue includes follo3in$ steps:

Creating a ",sto$er data(ase

Identi&*ing ke* ",sto$ers

Creating details

:etting "loser t%ro,g% di&&erent "%annels


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Maintaining relations%i+

Ad'antages o& Relations%i+ Manage$ent

Consisten"* o& (,siness !it%in t%e $arketing net!ork

/ong ter$ (rand re"ognition

Eas* redressal o& ",sto$er grie'an"es

Read $ore=%tt+=88!!!)(ankersadda)"o$820148108s(i-asso"iates-+o-2014-$arketing-notes)%t$l?i#77.H@R6rt$/

SBI Asso"aites PO - Marketing Notes - IIIHello ReadersHere !e are +resenting *o, t%e Notes on Marketing &or SBI Asso"iates 2014) Ho+e *o, like t%e +ost

What is marketin$ process?T%is is t%e +ro"ess !%i"% is +er&or$ed (* $arketing $anagers ,sing all $arketing $i#es as and !%en re6,ired) T%e $arketing +ro"ess in'ol'es t%e &ollo!ing'aria(les=a3 T%e +rod,"t itsel&(3 Pla"e &or selling

"3 Marketing "%anneld3 Pri"e

T%ese 'aria(les "o$(ine in a $arket o&&ering !%i"% t%e "ons,$ers $a* de"ide to (,* i& it +ro'ides satis&a"tion as +er t%eir needs) T%e $arketing +ro"ess see$sto (e 'er* eas* in t%eor* Ho!e'er it is 'er* "o$+le# one to +er&or$) I& an* s$all "%ange o"",rs in t%e $arketing en'iron$ent t%e !%ole "on"e+t o& $arketingo&&ering and strateg* "%anges drasti"all*)

What is cross sellin$?Cross selling is t%e +ra"ti"e o& selling an additional +rod,"t or ser'i"e to an e#isting ",sto$er) T%e o(e"ti'es o& "ross selling "an (e eit%er to in"rease t%e in"o$ederi'ed &ro$ t%e "lient or "lients or to +rote"t t%e relations%i+ !it% t%e "lient or "lients) T%e a++roa"% to t%e +ro"ess o& "ross selling "an (e 'aried) >nlike t%ea"6,iring o& ne! (,siness "ross selling in'ol'es an ele$ent o& risk t%at e#isting relations%i+s !it% t%e "lient "o,ld (e disr,+ted) 5or t%at reason it is i$+ortant toens,re t%at t%e additional +rod,"t or ser'i"e (eing sold to t%e "lient or "lients en%an"es t%e 'al,e t%e "lient or "lients get &ro$ t%e organi7ation) In +ra"ti"e large(,sinesses ,s,all* "o$(ine "ross selling and ,+selling te"%ni6,es to en%an"e t%e 'al,e t%at t%e "lient or "lients gets &ro$ t%e organi7ation and 'i"e 'ersa3)

5or t%e "ross selling t%ere "an (e s,(stantial (arriers)

/et ,s see so$e o& t%e$=1) Presen"e o& $,lti+le 'endors)2) i&&erent +,r"%asing +oints !it%in an a""o,nt !%i"% red,"e t%e a(ilit* to treat t%e ",sto$er like a single a""o,nt).) T%e &ear o& t%e in",$(ent (,siness ,nit t%at its "olleag,es !o,ld s+oil t%eir !ork at t%e "lient res,lting !it% t%e loss o& t%e a""o,nt &or all ,nits o& t%e &ir$)

/et ,s see so$e &or$s o& "ross selling=)ellin$ addon services*-- is anot%er &or$ o& "ross selling) T%at %a++ens !%en a s,++lier s%o!s a ",sto$er t%at it "an en%an"e t%e 'al,e o& its ser'i"e (* (,*inganot%er &ro$ a di&&erent +art o& t%e s,++lier;s "o$+an*) F%en one (,*s an a++lian"e t%e sales+erson !ill o&&er to sell ins,ran"e (e*ond t%e ter$s o& t%e !arrant*)T%o,g% "o$$on t%at kind o& "ross selling "an lea'e a ",sto$er &eeling +oorl* ,sed) T%e ",sto$er $ig%t ask t%e a++lian"e sales+erson !%* %e needs ins,ran"eon a (rand ne! re&rigerator Is it reall* likel* to (reak in ,st nine $ont%sG

T%e kind o& "ross selling "an (e "alled selling a sol,tion) In t%is "ase t%e ",sto$er +,r"%asing a T is +ro'ided !it% ire"t to %o$e in(,ilt set to+ (o#) In t%is "ase",sto$er "an (e reli'ed &ro$ +,r"%asing a set to+ (o# to !at"% di&&erent "%annels)

'4amples of cross sellin$1) A CMA $o(ile2) A /i&e Ins,ran"e "o$+an* s,ggesting its ",sto$er sign ,+ &or "ar or %ealt% ins,ran"e).) A tele'ision (rand s,ggesting its ",sto$ers go &or a set to+ (o# o& it9s or anot%er;s (rand)4) A la+to+ seller o&&ering a ",sto$er a $o,se +en dri'e and or a""essories)) A s%a$+oo seller s,ggesting "onditioner o& its o!n "o$+an* &or (etter res,lt)

What is )WOT analysis?It is a str,"t,red +lanning $et%od +ro+osed (* Al(ert H,$+%re*) It is ,sed to anal*se t%e &ollo!ing &a"tors o& an organi7ation=a3 Strengt%s It in"l,des all t%e "%ara"teristi"s o& a "o$+an* !%i"% is not !it% ot%er "o$+anies) It needs to (e e#+loited)(3 Feakness It gi'es a inside look o& t%e areas !%ere t%ere is s"o+e &or i$+ro'e$ent

"3 O++ort,nities It in"l,des e#ternal "%an"es t%at "an (e ,sed to i$+ro'e +er&or$an"e o& t%e "o$+an*)d3 T%reats It in"l,des e#ternal as !ell as internal ele$ents t%at "o,ld "a,se tro,(le &or a +roe"t) It "an (e loo$ing or slee+ing)F%at is >SP in $arketingG

>SP stands &or >ni6,e Selling Pro+osition) T%e ,ni6,e selling +ro+osition >SP3 is a $arketing "on"e+t t%at !as & irst +ro+osed as a t%eor* to ,nderstand a+attern a$ong s,""ess&,l ad'ertising "a$+aigns o& t%e earl* 140s) It states t%at s,"% "a$+aigns $ade ,ni6,e +ro+ositions to t%e ",sto$er and t%at t%is"on'in"ed t%e$ to s!it"% (rands)

T%e ter$ !as in'ented (* Rosser Ree'es o& Ted Bates J Co$+an*) Toda* t%e ter$ is ,sed in ot%er &ields or ,st "as,all* to re&er to an* as+e"t o& an o(e"t t%atdi&&erentiates it &ro$ si$ilar o(e"ts)

So >SP (asi"all* +ro'ides ,ni6,eness to a +arti",lar +rod,"t) It i$+resses a 'ie!er8a,dien"e so $,"% t%at t%e 'oi"e or 'ie! o& t%e Ads (,77es into t%eir ears) 5ore#a$+le &or t%is site t%at *o, are ,sing no! I "an +ro+ose >SP


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What is 0psellin$?>+selling is a sales te"%ni6,e !%ere(* a seller ind,"es t%e ",sto$er to +,r"%ase $ore e#+ensi'e ite$s ,+grades or ot%er add-ons in an atte$+t to $ake a $ore+ro&ita(le sale)

>+selling ,s,all* in'ol'es $arketing $ore +ro&ita(le ser'i"es or +rod,"ts (,t "an also (e si$+l* e#+osing t%e ",sto$er to ot%er o+tions t%at !ere +er%a+s not"onsidered +re'io,sl*)

>+selling i$+lies selling so$et%ing t%at is $ore +ro&ita(le or ot%er!ise +re&era(le &or t%eseller instead o& or in addition to t%e original sale)

In a resta,rant and ot%er si$ilar settings ,+selling is "o$$on+la"e and an a""e+ted &or$ o& (,siness) In ot%er (,sinesses s,"% as "ar sales t%e ",sto$er9s+er"e+tion o& t%e atte$+ted ,+sell "an (e 'ie!ed negati'el* and t%ere(* a&&e"t t%e desired res,lt)

)ome e4amples of upsales include:a3 S,ggesting a +re$i,$ (rand o& al"o%ol !%en a (rand is not s+e"i&ied (* a ",sto$er(3 Selling an e#tended ser'i"e "ontra"t &or an a++lian"e"3 S,ggesting a ",sto$er +,r"%ase $ore RAM or a larger %ard dri'e !%en ser'i"ing %is or %er "o$+,terd3 Selling l,#,r* &inis%ing on a 'e%i"lee3 S,ggesting a (rand o& !at"% t%at t%e ",sto$er %asn;t +re'io,sl* %eard o& as an alternati'e to t%e one (eing "onsidered)&3 S,ggesting a ",sto$er +,r"%ase a $ore e#tensi'e "ar !as% +a"kage)g3 Asking t%e ",sto$er to s,+er-si7e a $eal or add "%eese at a &ast &ood resta,rant)

TechniuesA "o$$on te"%ni6,e &or s,""ess&,l ,+sellers is (e"o$ing a!are o& a ",sto$er;s (a"kgro,nd and (,dget allo!ing t%e ,+sellers to ,nderstand (etter !%at t%at+arti",lar +,r"%aser $ig%t need)Anot%er !a* o& ,+selling is "reating &ear o'er t%e d,ra(ilit* o& t%e +,r"%ase +arti",larl* e&&e"ti'e on e#+ensi'e ite$s s,"% asele"troni"s !%ere an e#tended !arrant* "an o&&er +ea"e o& $ind) T%e 'endor "an tell t%at *o, are onl* in'esting not so $,"% $one* so t%is +arti",lar t%ing"annot (e so d,ra(le) >+selling also !orks !it% ite$s like "ars !%ere t%e seller s,ggests doing r,((er +aint inside t%e "%assis to $ake t%e "ar $ore d,ra(le)

Read $ore=%tt+=88!!!)(ankersadda)"o$820148108s(i-asso"aites-+o-$arketing-notes-iii)%t$l?i#77.H@SSonO%

SBI Asso"iate PO - Marketing Notes - IHello ReadersHere !e are +resenting *o, t%e Notes on Marketing &or SBI Asso"iates 2014) Ho+e *o, like t%e +ost

What is product life cycle mana$ement?T%is $anage$ent is a +ro"ess o& $anaging a +rod,"t t%ro,g%o,t its li&e"*"le) It starts &ro$ its introd,"tion gro!t% $at,rit* and dis+osal)T%is $anage$ent integrates +eo+le data +ro"esses and (,siness s*ste$s) It !orks in t%e &ollo!ing areas=a3 Prod,"t s*ste$ engineering(3 Prod,"t and +ort&olio $anage$ent"3 Prod,"t designd3 Man,&a"t,ring +ro"ess $anage$ente3 Prod,"t data $anage$ent

This mana$ement process basically involves:a3 Con"ei'e I$agine s+e"i&* +lan inno'ate(3 esign es"ri(e de&ine de'elo+ test 'alidate"3 Reali7e Make +ro",re +rod,"e deli'er la,n"%

d3 Ser'i"e Maintain s,++ort s,staine3 is+ose Re"*"le dis+osal retire

What is product life cycle?In t%e sa$e &as%ion o& o,r li&e "*"le i)e) (irt% gro!t% $at,rit* and &inall* deat% a +rod,"t also goes t%ro,g% a li&e "*"le !%i"% "onsists o& &ollo!ing stages=!a" Product introduction5market development ( t%is is t%e stage !%en a ne! +rod,"t is &irst (ro,g%t to $arket) It "an (e on t%e (asis o& de$and or inno'ation o&a "o$+an*) In t%is stage sales are lo! and slo!) Ho!e'er t%anks to o,r "o$$,ni"ation "%annels and $odern $anage$ent te"%ni6,es t%at at t%is stage alsosales goes ,+)

!b" %arket $ro3th (at t%is stage t%e de$and (egins to a""elerate and it takes o&&)

!c" %aturity

!d" 6isposal

What is marketin$ mana$ement?It is a (,siness dis"i+line !%i"% a++lies di&&erent t*+e o& $arketing te"%ni6,es reso,r"es and trends) T%e a++li"ation o& t%is dis"i+line "an 'ar* signi&i"antl* (asedon (,siness9s si7e ",lt,re and en'iron$ent)

Marketing $anage$ent e$+lo*s 'ario,s tools like SFOT anal*sis +rod,"t +ositioning +rod,"t di&&erentiation 'al,e "%ain anal*sis strategi" gro,+ anal*sis

statisti"al s,r'e*s et%nogra+%i" o(ser'ations "o$+etiti'e intelligen"e en'iron$ent s"anning et")

So t%is dis"i+line is 'er* (road one and to "reate an e&&e"ti'e $arketing $anage$ent it is 'er* ne"essar* &or a "o$+an* to %a'e its ela(orated and o(e"ti'e,nderstanding o& its o!n (,siness $odel and $arkets)

What is marketin$ environment?It is an ,$(rella ter$ ,sed &or &or"es and 'aria(les inside as !ell o,tside t%e organi7ation !%i"% in&l,en"e t%e de"ision o& $arketing $anagers)

Marketing en'iron$ent "o$+rises trends t%at a++ear and disa++ear and deter$ine t%e s,""ess o& t%e organi7ation $arketing e&&orts) 5or (etter $arketing and&or$,lation o& a $arketing strateg* it is ne"essar* to s"an internal and e#ternal $arketing en'iron$ent 'aria(les)

%arketin$ environment can be classified into three $roups:a3 Mi"ro internal3 O(e"ti'e o& t%e "o$+an* 5inan"e Reso,r"es like $an +o!er ra! $aterial "a+ital et")(3Ma"ro e#ternal3 Te"%nolog* E"ono$i" So"ial P%*si"al National8international"3 Market ,st o,tside3 Co$+etitors Inter$ediaries S,++liers T%reats O++ort,nities
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e'ening ti$e !%ereas it is al$ost like desert d,ring $orning %o,rs) A "otton s%o+ is "ro!ded d,ring s,$$er season !%ereas d,ring !inter it is not)So S*n"%roMarketing &inds a !a* to sol'e t%e +ro(le$ o& in"onsistent de$and +attern (* t%e &ollo!ing $et%ods=a3 ee+ing %ig% +ri"e d,ring season(3 O&&ers l,"rati'e o+tions d,ring o&&season"3 >sing t%e stores !it% $an* 'arieties o& ite$d3 Pro$otion and in"enti'es

What is differentiated marketin$?T%is is a t*+e o& $arketing in !%i"% ",sto$ers are di'ided into gro,+s on t%e (asis o& so$e "o$$on "%ara"teristi"s like religion in"o$e age se# "asteed,"ation et") T%,s t%e ",sto$er (ase is seg$ented) T%is is !%* t%is $arketing is also kno!n as $arket seg$entation) T%is te"%ni6,e is ",sto$er oriented !it%

%ig%er ",sto$er satis&a"tion and +ro&its)

It has follo3in$ advanta$es:a3 In"reased sales and +ro&its(3 /arge n,$(er o& ",sto$ers &ro$ all seg$ents"3 ,alit* +rod,"ts $an,&a"t,ring "an (e a"",rated3 C,sto$er oriented

It has follo3in$ disadvanta$es:a3 C%an"es o& "ost rise d,e to s$all 6,antit* $an,&a"t,ring) So it is o++osite to $ass$arketing)(3 H,ge a$o,nt o& !ork &or R J &or ",sto$er seg$entation)"3 Fastage o& $one* &or se+arate ad'ertise$ents &or di&&erent seg$ents

What is market se$mentation?It is a $arketing strateg* !%i"% in'ol'es t%e &ollo!ing "riteria=a3 i'ides t%e target "ons,$er8$arket as +er t%eir "o$$on !ant8need8rele'ant goods)(3 It is internall* %o$ogeno,s and e#ternall* %eterogeneo,s)"3 Cost e&&e"ti'ed3 Pro&it $a#i$i7atione3 Res+onsi'eness&3 S,staina(leg3 Meas,ra(le%3 Needs "an (e satis&ied (* +arti",lar +rod,"t "ategor*

So t%ro,g% t%is strateg* !it%in a $arket a $arket seg$ent is "reated !%i"% is a s,(gro,+ o& +eo+le or organi7ation) S%aring one or $ore "%ara"teristi"s t%at"a,se t%e$ to %a'e si$ilar needs) So t%is strateg* is a +ro"ess o& ena(ling t%e $arketer to tailor $arketing $i#es to $eet t%e need o& one or $ore s+e"i&i"seg$ents)

It has follo3in$ advanta$es:a3 It %el+s de"ision $akers to $ore a"",ratel* de&ine $arketing o(e"ti'es and (etter allot$ent o& reso,r"es)(3 Per&or$an"e e'al,ation is also $ore +re"ise)"3 Better $arketing res,lts)

What is undifferentiated marketin$?It is ,st o++osite to di&&erentiated $arketing and si$ilar to $ass $arketing) >nder t%is te"%ni6,e "o$+an* identi&ies t%e entire "ons,$ers as one !it% "o$$on%ead) T%is strateg* does not "onsider seg$ented de$and +attern) It in'ol'es sa$e +rod,"t sa$e (rand sa$e +ri"e sa$e $arketing +rogra$ sa$e ad'ertising$edia !it% $ass +rod,"tion and distri(,tion)

It has follo3in$ advanta$es:a3 /arge s"ale +rod,"tion is +ossi(le)

(3 C%ea+ +rod,"ts"3 One t*+e o& ad'ertise$ent so less e#+ensed3 One $arketing $i#e3 Single (rand na$e

It has follo3in$ disadvanta$es:a3 It is +rod,"t oriented rat%er t%an "ons,$er oriented)(3 Red,"es +ro&its d,e to +rod,"t "o$+etition)

Read $ore=%tt+=88!!!)(ankersadda)"o$820148108s(i-asso"iates-+o-$arketing-notes-')%t$l?i#77.H@":t

Marketing 6,i"k notes &or SBI Asso"iates 2014ear readers Here !e are +resenting *o, so$e 6,i"k notes on Marketing !%i"% !ill (e %el+&,l in t%e ,+"o$ing SBI Asso"iates PO - 2014 E#a$)

7uick /otes:

1. Marketing is t%e +ro"ess o& "o$$,ni"ating t%e 'al,e o& a +rod,"t or ser'i"e to ",sto$ers &or t%e +,r+ose o& selling t%at +rod,"t or ser'i"e)

2. %ass %arketin$$eans $arketing t%e $ass +rod,"ed goods)

8.)trate$ic marketin$$eans de"ision $aking +ro"ess t%at in'ol'es t%e anal*sis o& t%e internal "a+a(ilities and e#ternal en'iron$ent o& a "o$+an*)

9. )timulation marketin$$eans t%ere is no de$and &or t%e +rod,"t and +eo+le are not interested to +,r"%ase t%e +rod,"t %en"e s+e"ial o&&ers are gi'en tosti$,late t%e +eo+le)

. )ynchrome marketin$ $eans irreg,lar de$and)

;. 6e*marketin$ $eans t%e de$and &or t%e +rod,"t e#"eeds t%e s,++l*)
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. 6erived $oods $eans t%e de$and &or t%e +rod,"t is deri'ed &ro$ t%e de$and o& ot%er +rod,"ts e#= t%e selling o& sta(ili7er de+ends ,+on t%e selling o& T9sand re&rigerator)

1-. T%e "lient o& an ad'ertising agen"* is "alled Customer.

11. %$eans C,sto$er Relations%i+ Manage$ent)

12. )e$mentation of consumer marketis (ased on "ons,$er "%ara"teristi"s and "ons,$er res+onses)

18. 2$eans (,siness to (,siness

19. 6atabase marketin$is dire"t &or$ o& $arketing)

1.@ uyers %arket$eans s,++l* e#"eeds de$ands

1;. /iche market $eans a s+e"i&ied $arket &or t%e target gro,+)

1


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In&or$ation a(o,t $arketing sta&&

In&or$ation regarding s%are $arket

no!ledge o& related $arkets

29.A6)@$eans ire"t Selling Agent)

2. )ervice marketin$resorted to in Ins,ran"e "o$+anies and (anks)

2;. )ervice marketin$ is same as

Internet $arketing

Tele$arketing

Internal $arketing

Relations%i+ $arketing

2. )WOT (Strengt%s Feakness O++ort,nities T%reats)

8-. )tandard marketin$ practicesin"l,de lo!ering t%e selling +ri"e)

81.0)Po& a +rod,"t $eans >ni6,e Selling Pro+osition)Rosser Ree'esD "oined t%e ter$ >SP)

82. %O$eans Manage$ent (* O(e"ti'es Peter r,"kerD3

88.@I6@ (Attention Interest esire A"tion

89. TC ( Belo! t%e line

35. i$ht*time marketin$is an a++roa"% to $arketing !%i"% sele"ts an a++ro+riate ti$e and +la"e &or t%e deli'er* o& a $arketing $essage)

8;.A gro,+ o& related +rod,"ts $an,&a"t,red (* a single "o$+an* is "alled product line.

8. Innovation $eans ne! ideas and +rod,"t designing)

9-. Ser'i"e a&ter sale is not t%e &,n"tion o& $arketing sta&&)

91.A$ood seller s%o,ld %a'e t%e &ollo!ing 6,alit*86,alities

e'otion to t%e !ork

S*$+at%*


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S,($issi'e

92)Planned cost service$eans additional +ro&it on sa$e "ost)

98.A non-traditional lo!-"ost &le#i(le and %ig%l* e&&e"ti'e $arketing is ter$ed as&orilla marketin$.

99.T%e aim of successful marketin$ isto in"rease t%e o,tlet o& t%e seller)

9.Co3 end market$eans a $arket &or lo!er +ri"e +rod,"ts)

9;. T%e strateg* ,sed to "%arge di&&erent +ri"es &or t%e sa$e +rod,"t is "alled price discrimination.

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P')T @nalysis:

%arketin$ %i4 !9PEs":

Prod,"t Pri"e Pla"e Pro$otion

Firal %arketin$:Marketing (* t%e !ord o& $o,t% %a'ing a %ig% +ass ro,te &ro$ +erson to +erson is "alled 'iral $arketing) It "an "reate a s+las% in

t%e $arket +la"e to s%o!"ase a (rand and its note!ort%* &eat,res)

Product Policy:It is "on"erned !it% de&ining t%e t*+e 'ol,$e and ti$ing o& t%e +rod,"ts a "o$+an* o&&er &or sale)

i$hts of consumers:Rig%t to sa&et* Rig%t to (e in&or$ed Rig%t to "%oose Rig%t to (e %eard Rig%t to seek redressal Rig%t to "ons,$er ed,"ation)

ross )ellin$:An e#+os,re to 'ario,s ot%er ,n,tili7ed ser'i"es o& t%e (ank to a ",sto$er is "alled "ross selling) It also in"l,des identi&*ing ",sto$er

needs $at"%ing t%e +rod,"ts to ",sto$er needs "on'in"ing t%e ",sto$ers o& +rod,"t (ene&its J res+onding to 6,estions and o(e"tions o&",sto$ers)


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)%'Es:It stands &or S$all J Medi,$ Enter+rises)

%arket '4pansion:It is gro!t% in sales t%ro,g% e#isting and ne! +rod,"ts (* ado+ting "o$+etiti'e strategies) It in"l,des e#+anding t%e total $arket

de&ending $arket s%are e#+anding $arket s%are et")

Product 6iversification:It re&ers to $an,&a"t,ring or distri(,ting $ore t%an one +rod,"t (* t%e +rod,"er or dealer)

%arketin$ Plan:It is a !ritten do",$ent t%at s,$$ari7es !%at t%e $arketer %as learned a(o,t t%e $arket +la"e and indi"ates %o! t%e &ir$ +lans torea"% its $arketing o(e"ti'es) It is t%e one o& t%e $ost i$+ortant o,t+,ts o& t%e $arketing +ro"ess)

&reen %arketin$:It is a ne! en'iron$ent &riendl* $arketing te"%ni6,e)

Product 'limination:It is a +ro"ess o& re$o'ing +rod,"t &ro$ t%e +rod,"t line it is a gro,+ o& +rod,"ts t%at are "losel* related to ea"% ot%er3)

6rip %arketin$:T%e $et%od o& sending +ro$otional ite$s to "lients is "alled dri+ $arketing)

)ellin$:It is "on&ined to +ers,asion o& "ons,$ers to (,* &ir$;s goods and ser'i"es) It in'ol'es t%e trans&er o& o!ners%i+ o& goods to "reate

+ossession ,tilit*)

ench %arketin$:A "o$+arison o& t%e (,siness +ro"esses !it% "o$+etitors and i$+ro'ing +re'ailing ones is "alled (en"% $arketing)

7ualities of a $ood seller:e'otion to t%e !ork S,($issi'e S*$+at%* A"ti'e $ind set Co$$,ni"ation skill Creati'it* Moti'ation)

Prospect:A ;likel*; interested ",sto$er o& t%e (ank is ter$ed as a +ros+e"t)

ustomer elationship %ana$ement !%":It allo!s t%e "o$+an* to dis"o'er !%o$ its ",sto$ers are %o! t%e* (e%a'e and !%at t%e* need or

!ant) It also ena(les t%e "o$+an* to res+ond a++ro+riatel* "o%erentl* and 6,i"kl* to di&&erent ",sto$er o++ort,nities)

all:In $arketing "alling t%e +ros+e"ti'e ",sto$er is kno!n as a "all)

)ales #orecastin$:It is t%e e#+e"ted le'el o& "o$+an*;s sales (ased on a "%osen $arketing +lan an ass,$ed $arketing en'iron$ent) It in'ol'es

sales +lanning sales +ri"ing distri(,tion "%annels "ons,$er tastes et")

%otivation:It re&ers to ins+iring one sel& and ot%ers to +er&or$ (etter)

randin$:T%e essen"e o& a +rod,"t its 6,alit* and "o$+etiti'eness dis+la*ed in t%e &or$ o& letters s*$(ols and "olo,rs is kno!n as (randing)

)ales #orecastin$:T%e $et%od o& esti$ating 'ol,$e o& sales t%at a "o$+an* "an e#+e"t to attain !it%in a +lanned +eriod is "alled sales &ore"asting)

%arketin$ for &ro3th:


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@dvertisin$:An* +aid &or$ o& non-+ersonal +resentation and +ro$otion o& ideas goods or ser'i"es (* an identi&ied s+onsor)

)e$mentation:T%e +ro"ess o& di'iding a $arket into a n,$(er o& s,( $arkets is kno!n as $arket seg$entation)

Positionin$:T%e de'elo+$ent o& $arketing $i# to in&l,en"e a ",sto$er;s +er"e+tion o& a (rand is "alled +ositioning)

onsumer ehaviour:A "ons,$er;s (,*ing (e%a'io,r is in&l,en"ed (* ",lt,ral so"ial +ersonal and +s*"%ologi"al &a"tors)

Promotion:F%en a $arketer +ers,ades a +erson or gro,+ o& +ros+e"ti'e (,*ers t%e "o$$,ni"ation is ter$ed as +ro$otion)

Product Cife ycle !PC":It is t%e li&e +eriod o& +rod,"t in t%e $arket) T%e di&&erent stages in"l,des Introd,"tion :ro!t% Mat,rit* e"line)

ancassurance:Ban"ass,ran"e si$+l* $eans selling o& ins,ran"e +rod,"ts (* (anks) In t%is arrange$ent ins,ran"e "o$+anies and (anks

,ndergo a tie-,+ t%ere(* allo!ing (anks to sell t%e ins,ran"e +rod,"ts to its ",sto$ers)

onsumer &oods::oods $eant &or +ersonal "ons,$+tion (* t%e %o,se%olds or ,lti$ate "ons,$ers are "alled "ons,$er goods) It in"l,des ite$s

like gro"eries "lot%s et")

Industrial &oods::oods $eant &or "ons,$+tion as ,se as in+,ts in +rod,"tion o& ot%er +rod,"ts or+ro'ision o& so$e ser'i"e are ter$ed as ind,strial

goods)

6emarketin$:Marketing ai$ed at li$iting $arket gro!t% &or e#a$+le so$e go'ern$ents +ra"ti"e de$arketing to "onser'e nat,ral reso,r"es and

organi7ations ,se a de$arketing a++roa"% !%en t%ere is so $,"% de$and t%at t%at are ,na(le to ser'e t%e needs o& all +otential ",sto$ersade6,atel*)

Read $ore=%tt+=88!!!)(ankersadda)"o$820148108$arketing-notes-&or-s(i-asso"iates-+o)%t$l?i#77.H@TI1+L2
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Sbi Associates Po 2014 Marketing