cii affirmative action gateway session 4- marketing aa gateway certificate program on...
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CII AA GATEWAY
Certificate Program on Entrepreneurial Skill Development
CII Affirmative Action Gateway
Session 4- Marketing
CII AA GATEWAY
What Is Marketing?
Marketing is the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
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• Market Research
Research
• Segmenting
• Targeting
• Positioning
Strategy • Product
• Price
• Place
• Promotion
Marketing Mix
• Increase promotions
• Increase reach
• Increase usage
Penetration
Bird View of Marketing:
Marketing Concepts & Functions
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The 7 functions of Marketing:
Selling
Distribution
Product Service
Management
Promotion
Pricing
Financing
Marketing Information
Management
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Marketing – Production Concept:
Consumers want products that are easily accessible and inexpensive.
1. Can we produce the product? 2. Can we produce enough of it?
Process – Time – Cost – Numbers
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Marketing – Product Concept : The product concept is the customers desire products that have better features, performance and quality than the products that are already on the market. The product concept is a company's driving force to create cutting-edge products that are superior to other similar products.
Technology – Innovative – Need Satisfaction
3. Selling Concept, 4. Marketing Concept &
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Core Concept of Marketing:
Need: The necessity of something is need. • Physical needs (food, shelter, and clothes) • Security needs (Data, Home, Child) • Need ego (respected post, honour, praise) Marketers did not create these needs but they
find these needs. Want: Expectation of the things for meeting the need is called want. Demands: The want with willingness and ability to pay price of things is called demand.
:Specialty goods
:Convenience goods
:Shopping goods
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Core Concept of Marketing:
Value: The capacity of the goods to satisfy the want of customers’ as expected is called value. Satisfaction: The customer feels satisfied from the value of the goods what he/she expects to get from - Satisfied customer becomes brand loyal Markets: Process of buying and selling of goods or services
• Place concept, product concept, area concept, demand concept and exchange concept
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Core Concept of Marketing:
Exchange and Transection: The task of giving and taking things to fulfil mutual interest is called exchange.
• Each side should have some value • Each side should agree to exchange • Each side should be free to accept or reject • Each side should be able to communicate and
handover. Relationship: A marketer should establish good and long lasting relationship with customers, distributors, dealers and suppliers.
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Market Research:
Choose Base Market - Define method and size of survey – Conduct - Analyze the data
• Current Trend?
• Demand?
• Who is our Competitor?
• Past-Present-Future State?
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Market Research Method:
• Questionnaires (Forms, Online)
• Interview
• Usability Test – Knowingly & Unknowingly
• Marker study – Past – Present – Future
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Market Strategy - Segmentation :
WHY?
Customers have different Wants, Needs, Cost and
Tastes
Consisting of existing and potential customers into sub-groups of consumers known as segments
S-T-P
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Market Strategy – Targeting:
WHY?
Customers have different Wants, Needs, Cost and
Tastes
HOW?
Gender, Age, Income, Household size, Geographic
area and even various ethnic groups
kids segmentation: new born, infants, toddlers and so on.
Example
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Market Strategy - Positioning:
Segmentation
Targeting &
Positioning
Segmentation
Identify the target market
Identify expectations of Target Audience
Create Subgroups
Review
Select and Develop the marketing program
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Market Segmentation - Soaps:
Soaps with medicinal properties (To fight germs and infections)
• Individuals working in hospitals, nursing homes and research centres
• Individuals working in unhygienic conditions
Soaps with a strong and lasting fragrance (Against body odour)
• Marketing professionals
• Sales Representatives
• People exposed to sun for a longer duration
• Individuals travelling by public transport
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Market Segmentation - Soaps:
Soaps which improve the skin tone (For a whiter skin)
• Teenagers
• College students
Soaps which help get rid of wrinkles and fine lines of ageing
• Individuals between age group 30 – 50 years
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Marketing Mix:
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market
For understanding: • Food Making • Painting
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Marketing Mix:
Product - Consumer
• Design
• Technology
• Usefulness
• Convenience
• Value
• Quality
• Packing
• Accessories
• Warranties
Place - Convenience
• Wholesaler
• Own Store
• Direct Sales
• Online Sales
• Party Plans
• Mail Order
Price - Cost
• Penetration pricing
• Skimming pricing
• Competitor
• Break-Even Point
Promotion - Communication
• Advertisement – TV, Magazine, News Paper
• Campaign
• Direct Marketing …etc
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Marketing Mix – Place/Convenience:
Wholesaler Own Store Direct Sales Online Sales Party Plans
• How and where do customers prefer to buy the product
Stock Capability – Speed to Reach – Channel – Accessibility
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Marketing Mix – Promotion/Communication:
Educate people to use more frequently
• Viral Marketing
• Event Marketing ( fairs, and sporting events)
• Digital Marketing
• Ambient Marketing
• Guerilla Marketing
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Market Penetration:
The activity or fact of increasing the market share of an existing product, or promoting a new product.
• Attract competition customers and dealers • Increase promotions • Increase reach • Increase usage • Non users to start the product
Example: • By period – morning, evening • Various place – college, party, home • By day - Add by daily usage • Usage Method
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Behavioral Economics & Neuro-marketing:
Mind/Psychological
Society
Behavior/Emotional
Time
Information
Ability
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