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WELCOMEWELCOME
TOTO
THE WORLD OFTHE WORLD OFMARKETINGMARKETING
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History of MarketingHistory of Marketing
ThoughtThought
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Early BeginningsEarly Beginnings
Marketing was considered in the
context of trading, brokers etc..
Plato
Thomas Aquinas
Adam Smith
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4 Eras in the Development of
Marketing Thought
Pre-Marketing Era Before 1900
Era-I Finding the Field 1900-1920
Era-II Formalizing the Field 1920-1950
Era-III Paradigm Shift 1950-1980
Era IV Fragmentation of the Mainstream 1980 to the present
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Pre-Marketing Era
The Industrial Revolution
Marketing as part of Economics
The Decade of inventions
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Era-I Finding the FieldEra-I Finding the Field
1900-19201900-1920
Development of Courses with Marketing
as title:
First course in Marketing: University of
Michigan 1902 Distributive andRegulative Industries
Ohio State University 1906
The Marketing of Products, University
of Pennsylvania 1906
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Era-I Finding the FieldEra-I Finding the Field
1900-19201900-1920
Three approaches to marketing discourse: The commodity approach
The Institutional approach
The Functional approach
Major concerns of the time were:Are there too many middlemen? Does
distribution cost too much?Does advertising raise or lower prices?What control if any should be exerted overnew combinations of distribution?
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Era-I Finding the FieldEra-I Finding the Field
1900-19201900-1920
Two major axioms of MarketingThought:
Marketing is an economic activity
[Axiom of economic exchange]
Marketing activities originate from themarketing manager
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Era-II Formalizing the FieldEra-II Formalizing the Field
--1920-1950 -1920-1950 -
Eventful 30 years for the world economy[Expansion-Contraction-War-Expansion]
Newer Products in the market:
Electric iron, Washing Machine, Color Television, Refrigerator
Supermarkets
Infrastructure for developing marketing thoughtBroad agreement on the principles of marketing
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Era-II Formalizing the FieldEra-II Formalizing the Field
-1920-1950--1920-1950-
Journal of Retailing (1925) from New York University
National Association of the Teachers of Marketing andAdvertising (1924)
American Marketing Society (1930)
The two merged in 1936 to become the AmericanMarketing Association
The Journal of Marketing was started by te AMA in1937
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Era-II Formalizing the FieldEra-II Formalizing the Field
-1920-1950--1920-1950-
New Text books started emerging in the area ofMarketing.
Paul Cherington 1920
Fred Clark 1922
Paul Ivy 1922
Paul Converse 1924
During this era, the mainstream text booksrepresented much of the body of academicthought
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Era-II Formalizing the FieldEra-II Formalizing the Field
-1920-1950-1920-1950-
As the era-II was ending there was a distinct
movement towards addressing the issue of the role of
theory and science in the field of Marketing
Paul Converse (1945) The Development of the
Science of Marketing
Wroe Alderson and Reavis Cox (1948) Towards
Theory of Marketing
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Era-IIIEra-III
Marketing Management and SciencesMarketing Management and Sciences
1950-19801950-1980
The Booming Post war economies
New Products, New Media, Competition
from abroad
The expanding field of Business Education
Increasing number of Business PhDs
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Era-IIIEra-III
Marketing Management and SciencesMarketing Management and Sciences
1950-19801950-1980The evolving direction of Marketing thought had two
distinct characteristics:
Steeped in science as the basis for marketingthought development
Devoted to viewing the field from the perspective ofmarketing managers in order to help themundertake successful marketing programs
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Era-IIIEra-III
Marketing Management and SciencesMarketing Management and Sciences
1950-19801950-1980Much of marketing theory as we know todaywas developed during this period:
The Marketing Concept
- John McKitternick 1957
Marketing Segmentation
- Wendell Smith 1956
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Era-IIIEra-III
Marketing Management and SciencesMarketing Management and Sciences
1950-19801950-1980Marketing Mix
- Neil Borden (1964)
The 4 Ps- Jerome Mc Carthy (1960)
Brand Image
- Burleigh Gardner andSydney Levy (1955)
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Era-IIIEra-III
Marketing Management and SciencesMarketing Management and Sciences
1950-19801950-1980Hierarchy of Effects
- Robert Lavidge andGary Steiner (1961)
Marketing Myopia
- Theodore Levitt (1960)
Wheel of Retailaing
- Stanley Hollander and
Malcom Mc Nair (1960)
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Era-IIIEra-III
Marketing Management and SciencesMarketing Management and Sciences
1950-19801950-1980Several important text books heralded the push
towards a managerial orientation
Wroe Alderson (1957) John Howard (1957)
Jerome Mc Carthy (1960)
Philip Kotler (1967)
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Era-IIIEra-III
Marketing Management and SciencesMarketing Management and Sciences
1950-19801950-1980The Ford Foundation Project in the 50s in the USA
to infuse mathematics to managerial sciences: Change the research agendas
Doctoral Educations
Teaching Approaches
A multi-pronged approach was applied which includedseminars, course sponsorships and training for faculty
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The Ford Foundation Project
A group of Promising Business Facultywere selected and were imparted
training in Mathematics for one year at
Harvard/MIT This group included: Frank Bass Robert Buzzell
Philip Kotler
William Lazer
Jerome Mccarthy
Donald Shawver
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The Advance of Consumer
Research
Grew out of the need for guidance from
the practitioners
Association for Consumer Research
(1970)
Journal of Consumer Research (1974)
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Era-IV Fragmentation of the MainstreamEra-IV Fragmentation of the Mainstream
(1980-to the Present)(1980-to the Present)
Destruction of the Command economies of theSocialist countries
Greater technological advancement Economic stagnation in the developed countries,rapid growth in the developing countries
Growth in computing power, internet
Newer products, media Cross-cultural shift
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Era-IV Fragmentation of the MainstreamEra-IV Fragmentation of the Mainstream
(1980-to the Present)(1980-to the Present)
Notable additions to marketing theory included:
Marketing Orientation
Jarowski and Kohli (1990)
Relationship Marketing
Berry (1985)
Service Quality
Parasuraman et al (1987)
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Era-IV Fragmentation of the MainstreamEra-IV Fragmentation of the Mainstream
(1980-to the Present)(1980-to the Present)
Emerging Five sub-classes of Marketing
thought
Core Marketing
Consumer Behavior
Managerial Marketing
Marketing Applications
Marketing Education
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MARKETING DEFINED
Marketing is the process of planning andexecuting the conception, pricing,promotion, and distribution of ideas, goods& services to create exchanges that satisfyindividual & organizational goals
Markets consist of individuals and firmsthat have the desire and ability to purchasegoods or services.
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PURPOSE OF MARKETING
Providing the right product
In the right place
At the right price
&
At the right time
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MARKETING MANAGEMENT
Marketing management is the art and science ofchoosing target markets and getting, keeping,and growing customers through creating,
delivering, and communicating superiorcustomer value
The aim of marketing is to make selling
superfluous
The Business of Business is to get customersand keep them Peter Ducker
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Marketing for the 21st Century(new economy)
Consumer capabilities:-
Substantial increase in buying power
Greater variety of goods and services
Great amount of information oneverything
Better & easy interacting & placing
ordersAbility to compare notes on products
and services.
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Marketing in New Economy
Organizational capabilities:-
Powerful new information & sales channelwith augmented geographical reach.
Better internal & external communication dueto improved information technology.
Customize offerings to customers
Substantial cost savings due to improved
logistics and operations.
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Demand States & Marketing
Tasks
Negative demand: (market dislikes the product orservice and may even pay a price to avoid it. Employers have anegative demand for ex-convicts & alcoholics)- Task is to analyzewhy the market dislikes and find solutions.
No demand (consumers may be unaware oruninterested in the product)- Task is connect the benefits of theproducts with the consumer needs and interest.
Latent demand(consumers strong need whichcannot be satisfied by an existing product e.g. harmless cigars)-Task is to measure the potential market size and develop goods orservices to satisfy the demand.
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Demand States & Marketing
Tasks continued
Declining demand (demand falls due to variousreasons)- Task is to analyze causes and find solutions.
Irregular demand(demand varies on a seasonal, dailyor even hourly basis. Holiday spots are visited more on holidays e.g.
Vegaland, Kodaikanal, other Hill stations)- Task is to find ways toalter the demand patterns. (synchromarketing)
Full demand(full production & sale)- Task is to maintain.
Overfull demand(demand is higher than they canhandle, e.g. overcrowding in parks in summer)-Task is demarketing.
Unwholesome demand(cigarettes, alcohol, harddrugs, handguns)- Task is to get people to give it up.
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MARKETING CONCEPTS Exchange concept(exchange of a product between the
seller & buyer is the central idea of Marketing) Production concept(all efforts focused on production
to achieve cost reduction through mass production and assumes thatlow cost will automatically bring in customers)
Product concept(concentrates on product excellenceand new product development and fails to find what the customerneeds)
Sales Concept (pushing products through aggressivepromotional activities, high power personal selling etc)
Marketing Concept(entire business has to be seenfrom the point of view of the customer. Think customer & actcustomer
Societal Concept (responsible to the society as they areutilizing the resources from the society for making profit)
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Significant features of Marketing Concept
Customer Orientation (Customer is the focal point ofthe business)
Integrated Management, with Marketing asthe fulcrum (every function has a bearing on thecustomer)
Consumer Satisfaction (fulfilling the needs of thecustomer)
Realization of organizational goals includingprofit.
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MARKETING CONCEPTS continued
Meeting needs profitably
Find wants and fill them
Love the customer, not the product
Have it your way (Burger King)
You are the boss (United airlines)
Put people first (British Airways) Partners for profit
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Marketing Concept(summary)
Market focus (tailor marketing programs foreach target market)
Customer orientation (Customer attraction &retention)
Coordinated marketing (all functional areas
to be aligned) Profitability (emerges as a by product of
integrated marketing)
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Marketing Mix Four Ps Four Cs
Product Customer solution
Price Customer cost
Place Convenience
Promotion Communication People , Processes & Physical evidence
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VALUE & SATISFACTION
Value is a combination of quality, service and price (QSP). Value increases with quality and service and decreases with price.
Marketer can increase the value of his offering in several ways:
Raise benefits Reduce Costs Raise benefits and Reduce costs Raise benefits by more than the raise in
costs Lower the benefits by less than the reduction
in costs
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Six Basic Questions About
Customers: - What do they buy? (Durable goods, Non-durable,
Convenience goods, Specialty goods, shopping goods, etc.)
Why do they buy? (Variety of needs-physiological,safety, status)
Who does the buying? & Who influences buying?(Initiator, influencer, decider, purchaser, user)
How do they buy? (Cash or credit)
How much do they buy? (Quantity)
Where do they buy? (Super markets, Grocery shops)
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Major factors which influences
Customers decision to buy: -
What he can afford?
How his environment influences him?
What are his personal attitudes and
opinions?
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DIFFERENCE BETWEEN
SELLING & MARKETING
SELLING MARKETING
Sellers needs Customer needs
Existing products Consumer focus
Profits by pushing Customer delight Quick encashment Needs to products
Producing process Satisfying process
Cost determines price Consumer determines
the cost. Views customer as a Very purpose of business.last link.
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MARKETING ENVIRONMENT &
ENVIRONMENT SCANNING
Analyzing the environment(Govt impactand policies, technologies available)
Analyzing the Market and Competition-(SWOT analysis of Competition)
Customer sensing - (who remains closest tocustomer and why?)
Analyzing all aspects of the product-(Firm attempts to predict the PLC of the proposedproducts)
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MARKETING ENVIRONMENT
Factors of Environment Analysis
Macro environment:-
Demographic environment
Socio-cultural environment
Economic environment
Political environment
Natural environment
Technology environment & Govt policy
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MACRO ENVIRONMENTAL FACTORS
SOCIAL TECHNOLOGICAL
ECONOMIC POLITICAL
s
E
T
P
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Indian Marketing Environment
Opening up of the economy - Since 1991India is going through a process of economic
reforms and liberalization.
Policies relating to industrial licensing, tradeand foreign investment have undergone
major changes.
Economic institutions, banking sector andcapital markets have been the major targets
of the change.
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The reforms aim at modernization, and
integration of Indias economy with the
global economy.
Economic reforms were:-
Liberalization measures
Macroeconomic reforms and Structuraladjustments.
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LIBERALISATION MEASURES
1. The New Industrial Policy:-
Liberalization of Industrial licensing FERA liberalization
MRTP liberalization
Curtailment of Public Sector
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MACROECONOMIC REFORMS
Fiscal & Monetary reforms
Banking Sector reforms
Capital Market reforms
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STRUCTURAL ADJUSTMENTS
Phasing out subsidies
Dismantling of price controls and
introduction of market-driven price
Public sector restructuring and
disinvestment
Exit Policy(VRS & National Renewal Fund (NRF)
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Elements of Marketing Strategy
1. Marketing Strategy
2. Target Market
3. Marketing Mix
4. Competitive Advantage
5. Marketing Plan
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MARKETING STRATEGY
1. A game plan to reach customers
2. Captures what a firm wants to do and
how it will accomplish it
3. Specifies a target market and arelated marketing mix
Target Market
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Target Market
Represents a fairly homogenous (similar)group of customers to whom a firm wishesto appeal based on shared characteristics,lifestyle, behavior, etc.
Marketing Mix
Controllable tactical tools that the firm usesto satisfy a target market traditionally calledthe 4 Ps@ - product, price, place, and
promotion. 4 P's are interdependent andchangeable.
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MARKETING PLAN A written statement of a marketing strategy and the
time related details for carrying out the strategy arekey considerations:
1. What marketing mix is to be offered?
2. To what target market?
3. For how long?
4. What resources, results, control?
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Contents of Marketing Plan
Executive summary Table of Contents
Situation Analysis
Marketing Strategy
Financial Projection (Projected P&L)
Implementation Controls
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Two levels of Marketing Plan
Strategic Marketing Plan
It lays out the targetmarkets and the valueproposition that willbe offered, based onthe analysis of the
best marketopportunities.
Tactical marketingPlan
Specifies themarketing tactics,
including productfeatures, promotion,merchandising,pricing, sales
channels andservice.
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TASKS IN MARKET PLANNING
Analyzing the marketing environment andspotting the opportunities and threats
Internal appraisal (S-W of Marketing, Finance,Manufacturing, R&D, Human resources, General factors)
Setting Marketing Objectives of the unit
Formulating Marketing strategy of the unit
Developing detailed marketing plans,programmes, and marketing budget
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Planning Activities
Defining the Corporate mission
Establishing strategic business units
Assigning resources to each SBU
Assessing growth opportunities
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What brings us to this particular
business? What would be the nature of this
business in future?
In what business would we like to be in,in the future?
What are our strengths and distinctive
capabilities to pursue the presentbusiness or to branch off into the
desired business?
THE CONCEPT OF STRATEGICTHE CONCEPT OF STRATEGIC
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THE CONCEPT OF STRATEGICTHE CONCEPT OF STRATEGIC
BUSINESS UNITS (SBUBUSINESS UNITS (SBU)) Systematic grouping of business by multiSystematic grouping of business by multi
business corporations.business corporations.
Such Organizations can group itsSuch Organizations can group its
products/businesses into manageable numbersproducts/businesses into manageable numbersand take them up for strategic planning.and take them up for strategic planning.
Mission, objectives , competition, and strategyMission, objectives , competition, and strategy
will differ with SBUswill differ with SBUs
Each SBU will have its own distinct strategy,Each SBU will have its own distinct strategy,and CEO.and CEO.
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BPL (6 SBUsBPL (6 SBUs))
Entertainment electronicsEntertainment electronics
ComponentsComponents
TelecomTelecom PowerPower
Soft energySoft energy
Financial servicesFinancial services
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Two well-known models in appraising
business portfolios:
The Boston Consulting Groups Growthshare Matrix (BCG Model)
General Electric Multifactor Portfolio
Planning Matrix (GE Model)
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The BCG ModelThe BCG Model
The BCG Growth-Share matrix dealsThe BCG Growth-Share matrix dealswith the process of evaluation ofwith the process of evaluation ofindustry growth and the relativeindustry growth and the relativeposition of a firm in the industryposition of a firm in the industry
This matrix classifies the businessThis matrix classifies the businessof a firm into four categories on theof a firm into four categories on thebasis of the two parameters,basis of the two parameters,
industry growth and market shareindustry growth and market sharerelative to other main playersrelative to other main players
Business PortfoliosBusiness Portfolios
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Business PortfoliosBusiness Portfolios
Stars
Cash Cows
Question Marks
Dogs
????
?? ??
??
MarketG
rowthRate
Relative Market Share
High Low
High
Low
Business PortfoliosBusiness Portfolios
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Question Marks
High growth, low share Build into Stars/ phase out Requires cash to hold
market share
Question Marks
High growth, low share Build into Stars/ phase out Requires cash to hold
market share
Stars
High growth & share Profit potential May need heavy
investment to grow
Cash Cows
Low growth, high share Established, successful SBUsProduces cash
Cash Cows
Low growth, high share Established, successful SBUsProduces cash
Dogs
Low growth & share Low profit potential
Dogs
Low growth & share Low profit potential
Relative Market ShareHigh Low
Marke
tGr o
wth
R
ate
Low
H
igh
Business PortfoliosBusiness Portfolios
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McKinseys 7sMcKinseys 7s
StaffStaff
StructureStructure
StyleStyle
SkillsSkills
SystemsSystemsStrategyStrategy
SharedValues
SharedValues
CLASSIFICATION OF BUSINESS
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CLASSIFICATION OF BUSINESS
AS PER BCG MATRIX
STARS- belong to high-growth industriesand a market leader. (great potential for future)
QUESTION MARKS- belong to high-
growth industries and a follower.(uncertain future)
CASH COWS- operate in low-growthindustries as a market leader. (higher profits)
DOGS- operate in low-growth industries asa poor follower. (drag on the company & cash traps)
General Electric Multifactor Portfolio
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General Electric Multifactor Portfolio
Planning Matrix (GE Model)
Rating business on the basis of:-
Industry attractiveness (How
attractive is the industry?)
&
Companys Business Strength (Howattractive is the firm in the industry?)
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Assembling Marketing Mix
What is the best combination of the four Psin a given situation?
Which are all the products that can beoffered to an identified target market?
What should be Price structure?Which channel has to be selected?
What is the right Promotion Strategy?
How should the total marketing effort andresources of the firm be apportioned amongthe four Ps?
How the balancing act has to be done?
MARKETING RESEARCH
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MARKETING RESEARCHModule-2
Collection and analysis of data from a sampleof individuals or organizations related to theircharacteristic, behavior, attitudes, opinions orpossessions. It includes all forms of research
such as consumer and industrial survey,psychological investigations, observations andpanel studies.
MARKETING RESEARCH
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MARKETING RESEARCHMarketing Research is the systematic
design collection, analysis andreporting of data and findings relevant
to a marketing situation facing the
company.Marketing research is a research on the
manifold problems of marketing.
It helps to know which products movein the market and Why?
CONDUCTING MARKETING RESEARCH
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CONDUCTING MARKETING RESEARCH
Marketing research can be conductedby appointing research agencies,
college students, management
students, and consultants and throughemployees. Large companies give this
as a project to MBA students.
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Market Research Firms
Syndicated service research firms: Theygather periodic consumer and tradeinformation and sell this for a price.
Custom marketing research firms: Take upspecific research projects for specified fees.
Specialty line marketing research firms:These firms provide specialized service toother marketing research firms and marketresearch departments of companies.
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The Most common Marketing researchactivities are: -
Market potential and market share analysis
Sales and Business trend analysis
Forecasting studies
Product and pricing studies
Testing Products.
Marketing Research jobs can also be
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Marketing Research jobs can also beclassified based on the subject ofResearch
Research on Customer
Research on Market Demand
Research on Branding
Research on Competition
Research on Distribution
Research on Pricing
Research on Advertising & Salespromotion
Research on Sales Methods.
STEPS INVOLVED IN MARKETING
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STEPS INVOLVED IN MARKETING
RESEARCH PROCESS
Defining the Marketing Problem andResearch objectives
Specifying the information requirement
Developing the research planCollecting Primary & Secondary information
Analyzing and interpreting the information
Summarizing the findingsPreparing the Research Report.
Fi t St i M k t R h
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First Step in Market Research
Estimating The Size of The Market
Quantitative Assessment of the market size
to know whether it permit profitable
operations for the proposed business.
After this is done one can make a qualitative
assessment of the market e.g. Product
image, Price, Packaging and Promotionappeals.
T i l f M k ti
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Terminology of MarketingResearch
Primary data- collected firsthand
Secondary data- already exists
Quantitative research- statistical basis
Qualitative research- subjective &personal
Sampling- studying part of a population
PRIMARY DATA COLLECTION
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PRIMARY DATA COLLECTION
Observation Method
Experiment Method
Survey method
Marketing Intelligence system
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Managers can obtain information
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Managers can obtain information
in four ways:-
Undirected viewing General exposure toinformation without any specific purpose.
Conditioned viewing Directed exposure to
an identified area or type of information.
Informal search Unstructured effortspecific information for a specific purpose
Formal search A deliberate effort with apre-determined plan to obtain a specificinformation or relating to a specific issue.
M k ti R h T h i
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Marketing Research Techniques
Interviews- (Face to face, telephone, postal questionnaire)
Attitude Measurement- Cognitive component (know or believe about an act or object)
Affective component (feel about an act or object)
Conative component ( behave towards an object or act)
Likert Scale
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Likert Scale
strongly agree
agree
neither agree nor disagree
disagree
strongly disagree
Semantic differential scales- (differencesbetween words e.g. practical v impractical)
Projective techniques- (sentence completion,psychodrama (yourself as a product), friendly martian (what
some one else might do)
Group discussion and focus group
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Group discussion and focus group
Postal research questionnaires
Diary panels- sources of continuous data
Telephone research
Observation
In store testing
Buyer behavior
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Buyer behavior
What motivates the buyer? What induces him to buy? Why does he buy a specific brand?
Why does he buy from a particular shop? Why does he shift from one shop to another or from
one brand to another? How does he react to new product & Information? What are the stages he travels through before he
makes the decision to buy?
CONSUMER MARKETS &
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CONSUMER BEHAVIOUR
Individual Buyer Business Buyer
Buying for own, Buying for
Personal, or family manufacturing,
Consumption. Reselling or for
use in enterprise
The buying behavior i.e. motivation, attitude, andpurchase of the two categories are entirely different
Identifying Potential Markets
Identifying Potential Markets
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Identifying Potential MarketsIdentifying Potential Markets
GrowthGrowth
ConcentrationConcentration
LiteracyLiteracy
Rate of Growth
Population Density
Communication Concerns
Focus:
Focus:
Focus:
Focus :
MoneyMoney Relative Buying Power
Focus :
A Model of Buyer Behavior
A Model of Buyer Behavior
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A Model of Buyer BehaviorA Model of Buyer Behavior
MotivationPerceptionLearning
AttitudePersonality/Lifestyle
Purchase ReasonTimeSurroundings
PurchaseSituation
PsychologicalVariables
FamilySocial ClassReference Groups
Culture
SocialInfluence
Problem-Solving Process
Person Does or Does Not Purchase (Response)
Marketing Mixes All Other Stimuli
PersonMakingDecision
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Factors influencing Buyer behavior
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Factors influencing Buyer behavior Individual factors:
Cultural factors: Culture, religion,language
Personal factors: Age, education,occupation, status, life style, self concept, public
image.
Psychological factors: Motivation,perception, learning, beliefs and attitudes
Factors influencing Buyer behavior
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Factors influencing Buyer behavior
Socio cultural or Group influence
Influence of groups: family, friends, peer
Influence of broad social class other than
the above
Information from various sources
Buying Decision Process
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Buying Decision ProcessMarketers must identify the person who
makes the actual buying, the types of buyingdecisions and the steps in the buyingprocess.
Five roles people play in the buying decision
Initiator Influencer
Decider Buyer User
Social Influences on Buyer Behavior
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Social Influences on Buyer Behavior
Culture:the set of beliefs, attitudes, and
ways of doing things among a group ofpeople
Social Class:a group of people who have
approximately equal social position Family Decision Making:how families
make joint decisions about purchases
Reference Group:people to whom an individuallooks when forming attitudes (family, peers, friends, movie stars)
Opinion Leader:a person whose opinion in his fieldof expertise is respected by us. Sachin Tendulkar tells the kids
Boost is the secret of my energy. Cola ads by Amitha bachan
Buying Motives (Reasons)
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Buying Motives (Reasons)
Inherent & Learned buying motives
Basic needs Leans from education &
environment Emotional & rational motives(impulse & Logical)
Psychological & Social motives
Consumer patronage motives (buying from the sameshop)
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Consumer Problem Solving
Consumer Problem Solving
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AwarenessAwareness
Gathering InformationGathering Information
Evaluating AlternativesEvaluating Alternatives
Choosing a SolutionChoosing a Solution
Evaluating the DecisionEvaluating the Decision
Need to Satisfy
How Products Fill Needs
Ranking Products
Selecting a Product Solution
How Did It Work Out?
Focus:
Focus:
Focus:
Focus :
Focus :
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The Adoption Process
The Adoption Process
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The Adoption Processp
1. Awareness1. Awareness
2. Interest2. Interest
3. Evaluation3. Evaluation
4. Trial4. Trial
5. Adoption5. Adoption
6. Confirmation6. Confirmation
SixStepsin theConsumerAdoptionProcess
SixStepsin theConsumer
AdoptionProcess
Types of Organizational Buyers
Types of Organizational Buyers
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ManufacturersManufacturers
Service ProducersService Producers
Retailers &
Wholesalers
Retailers &
Wholesalers
GovernmentsGovernments
Grouped by Industry
Close to Customers
Buying for Targets
Bids & Regulations
focus.:
focus.:
focus.:
focus. :
Buying Centers
Buying Centers
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Buying Centersy g
BuyingCenter
BuyingCenter Influencers
InfluencersUsersUsers
GatekeepersGatekeepers DecidersDeciders
BuyersBuyers
Basic Methods in Organizational
Basic Methods in Organizational
B i
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BuyingBuying
Basic
Methods
Basic
Methods
Inspection Sampling
Description NegotiatedContracts
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Characteristics of Business Buyers
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Characteristics of Business Buyers Buying clout-existence of only small no of users
Concentration of buyers-industrial buyers aregeographically concentrated and has a special bargaining
power.
Direct one to one relationship with the seller Technical support for buying when it involves
complex products
New product introduction takes longer time
Closer monitoring of supply sources
Buyers are more rational
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Factors that influence industrial buying
Environmental factors: (economic, Govt policies,interest rates)
Organizational factors: (objectives, policies,procedures, organizationalstructure, systems)
Interpersonal factors: (authority, status)
Individual factors:(age, income, education, job
position, risk taking)
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C O M P E T I T I O N
Threats of new entrants
Bargaining power of Buyers
Bargaining power of Suppliers
Rivalry for market share
Entry of substitutes in the market place
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Why should we analyze Competition?
It is an integral part of Marketing analysis
Supports appropriate strategy formulation
Facilitates to know the industry attractiveness and
its competitive position within the industry
Helps to identify and build competitive advantage
and core competence
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BARRIERS IN INDUSTRY Entry barriers
Mobility barriers
Shrinkage Barriers
Exit barriers
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HOW DO FIRMS BUILD COMPETITIVEADVANTAGE?
Benchmarking Value chain analysis (analyzing ones own & competitors)
Innovation in any function Integration (Vediocon bought Uptron picture tubes factory) Outsourcing Mergers and acquisitions Strategic alliances (IBM-Apple, IBM-Siemens, Tata-AT &T)
Creation of entry barriers (Maruti small budget car) Production differentiation Brand dominance (Nestles Maggi Noodles (Brand power) Using core competence for competitive advantage
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CORE COMPETENCE
Unique strength & stronger competitive
advantages which cannot be easily imitated
by competitors.
It can be uniqueness in technology or
process or any other specialty or expertise.
C
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Distinction between CompetitiveAdvantage & Core Competence
Competitive advantage need not imply a corecompetence while core competence is a competitiveadvantage.
Competitive advantage is short term while corecompetence is long term.
Competitive advantage accrues from functionalstrength while Core competence has to be at the root
of the business (technology/process) Competitive advantage can be imitated over a period
of time while Core competence is long lasting. Competitive advantage is not unique while Core
competence is fundamental & unique.
DEMAND FORECASTING
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MARKET POTENTIAL: - (Industry Potential)
This is an estimate of the total sales by all the firms
selling the same product in a given market or for agiven environment.
COMPANY POTENTIAL (Sales Potential)
This refers the sales that can be achieved or
expected by the company in a given market. MARKET DEMAND (Industry demand)
This refers to the total volume that would be boughtby a defined customer group in a definedgeographical area in a defined time period in adefined marketing environment under a definedmarketing program.
MARKET FORECAST:-(Industry forecast)
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MARKET FORECAST: (Industry forecast)
Total sales forecast of the industry
COMPANY FORECAST:- (Sales forecast)
Sales forecast of the Company. The portion ofthe Company demand which the company
expects to capture in the market place.
DEMAND FORECASTING METHODS
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BUILDING-UP TECHNIQUES
Past Sales and Trend Analysis Executive Judgment
Sales force Composite
Analysis of Market factors
STATISTICAL METHODS
Direct derivation method Correlation Analysis technique
Prof. Philip Kotler has explained thefollowing methods: -
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following methods: -
METHODS BASED ON What people say? Survey of buyers intentions Composites of Sales force opinions
Expert Opinions
METHODS BASED ON What people do? Market Test Method
METHODS BASED ON What people have
done? Classical Time-series Analysis Statistical Demand Analysis
To sum up Salesf ti th d
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forecasting methods Jury Method or Executive Opinion Method Survey of experts opinion (experts from the field inside or
outside the firm)
Delphi Method (also a kind of survey of expert by a panel
through questionnaires
Sales force composite method (based on sales force judgment)
Quantitative Methods:-
Simple Projection method, Extrapolation Method, Moving
averages method, Exponential smoothing, Time series
analysis.
MASS MARKETING: -
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The seller engages in mass production, mass distribution,and mass promotion of one product for all buyers. Mass
marketing leads to cost reduction and this will be reflectedin low prices and in turn helps to tap the largest potentialmarket.
PRODUCT-VARIETY MARKETING: - The seller produces several products that exhibit different
features, styles, sizes and so on
These are designed to offer variety of buyers rather than toappeal to different market segments. Consumers seekchange and variety.
TARGET MARKETING The seller segregates the major market segments, targets
one or more of these segments, and develops products andmarketing programs tailored to each selected segment.
Todays companies are finding mass marketing and product-variety marketing quite unrewarding.
MARKET SEGMENTATION
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Philip Kotler Wherever a market for a product or service consists of two
or more buyers, the market is capable of being segmented,that is divided into meaningful buyer groups. The purposeof segmentation is to determine differences among buyerswhich may be consequential in choosing among them ormarketing to them
Market segmentation consists of taking the totalheterogeneous market for a product and dividing it intoseveral sub-markets or segments, each of which tends to behomogeneous in full significant aspects
Market segments are grouping of consumers according to
such characteristics as income, age, degree of urbanization,race, or other classification, geographic location oreducation
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PATTERNS OF MARKETSEGMENTATION
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SEGMENTATION
Homogeneous preferences
Diffused preferences
Clustered preferences
ADVANTAGES OF MARKETSEGMENTATION
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SEGMENTATION
Facilitates customer group formation andidentification
Helps proper choice of target market Helps Divide the markets and Conquer them
Helps to crystallize the needs of the targetbuyers
Helps to achieve specialization in product,distribution, promotion and pricing depending
on market segment. Helps to concentrate on most productive and
profitable segments
BASES FOR SEGMENTING MARKETS Geographic Segmentation: -
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Geographic Segmentation:
(Region, State, District, Zone, Urban/Rural)
Demographic Segmentation:
(Based on age, sex, marital status, family size, race, religion,community, purchasing power, educational level, socialstatus)
Psychographic Segmentation: -(Personality traits, attitudes, lifestyle, value system)
Buyer behaviour segmentation (buying motives)
Benefit Segmentation
Volume Segmentation (Potential quantity of purchase)
(Bulk buyers, small-scale buyers, and regular buyers)
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EVALUATING MARKET SEGMENTS
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Is it sizeable?
Is it growing?
Is it profitable?
Is it accessible?
Is it compatible with the firms resources and
capabilities?
SELECTING THE TARGETMARKET
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MARKET
Single segment concentration: (small car
market)
Selective specialization: (diversifying the risk)
Product specialization: (Specialization in one product) Market specialization:(serving only one customer group)
e.g. lab equipments to Colleges.
Full market coverage: (serve all customer groups with
all products)
Differentiated Marketing: - Here the firm operates in most market
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Here the firm operates in most marketsegments but designs different programs for
each segment. (IBM offers many hardware and softwarepackages for different segments in the computer market).
Undifferentiated Marketing: - The firm ignores the market segment
differences and goes after the whole marketwith one market offer.
This focuses on what is common in theneeds of buyers and designs marketingprograms to suit the target market.
Name Broad Product
Segmenting Product-Markets
Segmenting Product-Markets
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Name Broad Product-Market
Name Broad Product-Market
List Customer NeedsList Customer Needs
Narrow Product-MarketsNarrow Product-Markets
IdentifyDetermining Dimensions
IdentifyDetermining Dimensions
Name PossibleMarket segments
Name PossibleMarket segments
Evaluate SegmentsEvaluate Segments
Estimate SizeEstimate Size
ProcessforSegmenting
Product-Markets
ProcessforSegmenting
Product-Markets
Think about four basic types ofopportunities
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Market
Penetration
Market
Development
Product
Development
Diversification
Present Products New Products
PresentCustomers
New
Customers
opportunities
Developing Market-Oriented
Developing Market-Oriented
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Strategies in Broad Product-Markets
Strategies in Broad Product-Markets Combined Target
Market ApproachMultiple Target
Market ApproachSingle Target
Market Approach
This approach segments the marketand picks one of the homogeneoussegments as the firm's target market.
The segmenter here aims at onesubmarket with one marketing mix.
TheStrategy
Developing Market-OrientedStrategies in Broad Product-
Developing Market-OrientedStrategies in Broad Product-
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gMarketsMarkets
Combined TargetMarket Approach
Multiple TargetMarket Approach
Single TargetMarket Approach
This approach segments the marketand chooses two or moresegments as the firm's target market.
The segmenter here aims at two ormore submarkets with a differentmarketing mix for each.
Strategy1
Strategy 2
Strategy3
Developing Market-Oriented
Developing Market-Oriented
St t i i B d P d t
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Strategies in Broad Product-
Markets
Strategies in Broad Product-
Markets Combined TargetMarket Approach
Multiple TargetMarket Approach
Single TargetMarket Approach
This approach combines two or moresubmarkets into a larger target marketas a basis for one strategy.
The combiner here aims at twosubmarkets with one marketing mix.
TheStrategy
PRODUCT DECISIONS(Md-3)
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A Product is a set of tangible and
intangible attributes, including packaging,color, price, manufacturers prestige,
retailers prestige, and manufacturers and
retailers services, which the buyer may
accept as offering want-satisfaction
The consumers are buying for want
satisfaction. Therefore a wise firm sellsproduct benefits rather just products
The three recognizable categoriesof new products are as follows: -
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of new products are as follows:
Products that are truly unique
Replacement for existing productswhich are significantly differentfrom existing goods
Imitative products or me tooproducts
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COMPONENTS OF PRODUCTPERSONALITY:
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PERSONALITY: -
The core or the basic constituent(fragrance, shape, color, Brand, Price, positioning)
The associated features (Color, shape fragrance)
The Brand Name and Logo
The Package and Label
Differences in Goods andServices
Differences in Goods andServices
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ServicesServices
TangibleTangible
Produced Then SoldProduced Then Sold
Can Store and TransportCan Store and Transport
Produced Separate
From Consumer
Produced Separate
From Consumer
IntangibleIntangible
Sold Then Produced and/or Consumed Same TimeSold Then Produced and/or Consumed Same Time
PerishablePerishable
Often Produced In
Consumer's Presence
Often Produced In
Consumer's Presence
GoodsGoods ServicesServices
Brandingr
anding
Branding means the use of a name term symbol or
Branding means the use of a name, term, symbol, or
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Branding means the use of a name, term, symbol, ordesign -- or a combination of these -- to identify a
product.
A Brand Name is a word, letter, or group of words orletters.
A Trademark includes only those words, symbols, ormarks that are legally registered for use by a single
company.
A Service Mark is the same as a trademark except thatit refers to a service offering.
Branding means the use of a name, term, symbol, ordesign -- or a combination of these -- to identify a
product.
A Brand Nameis a word, letter, or group of words orletters.
A Trademark includes only those words, symbols, ormarks that are legally registered for use by a single
company.
A Service Mark is the same as a trademark except thatit refers to a service offering.
Product Offer can range from the Generic to
the Potential
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The Generic Product (unbranded, undifferentiatedProducts, Rice, sugar, cloth)
The Branded Product-(Annapurna atta, Sprinkle) The Diffentiated Product-(Dettol soap, Maggi)
The Customized Product- (IT and Telecom) The Augmented Product- (enhanced value through
research- Titan travel clock with case, VIP suitcase with wheels)
The Potential Productor tomorrows
products (robot)
PRODUCT MIX & PRODUCTLINE The Product mix is the full list of all products
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LINE The Product mix is the full list of all productsoffered for sale by a company. The product mix
is composed of several product lines.
A group of closely related products constitutes a
Product line.
Width of Product mix: - denotes the number ofproduct lines
Length of Product line: - the number of items &
brands in the Line.
Depth of Product line: - assortment of colors,sizes, models, offered within each product line.
MAJOR PRODUCT-MIX STRATEGIES
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Expansion of Product Mix
Contraction of Product Mix
Alteration of Existing Products
PRODUCT MANAGEMENTPRODUCT MANAGEMENT
P d i h i
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145145
Product management means managing the variousProduct management means managing the various
product lines and the overall product mix of theproduct lines and the overall product mix of thecompany. This is also known as product policy.company. This is also known as product policy.
How many different product lines should the firmHow many different product lines should the firm
accommodate?accommodate?
How can this be grouped for effectiveHow can this be grouped for effective
management?management?
With in a product line what should be theWith in a product line what should be the
composition like?composition like? How to position these products in the market?How to position these products in the market?
What should be the brand policy? Should there beWhat should be the brand policy? Should there be
individual brands or family brands?individual brands or family brands?
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yy
What should be approach to brand extensionWhat should be approach to brand extension
(extending a brand name to more products e.g.(extending a brand name to more products e.g.
sunrise premium, sunrise extra coffee. Maggisunrise premium, sunrise extra coffee. Maggi
noodles, Maggi Ketchup, Magi soup)noodles, Maggi Ketchup, Magi soup)
How to develop brand equity?How to develop brand equity? How to plan for new products?How to plan for new products?
How to handle the products going throughHow to handle the products going through
different stages of their life cycle? What are thedifferent stages of their life cycle? What are the
strategic treatments they require?strategic treatments they require?
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PRODUCT DIFFERENTIATION AND
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PRODUCT DIFFERENTIATION ANDPOSITIONING
The product can be differentiated along
two major planks:
Tangible product attributes and functionsand
Intangible characteristics and emotional
associations For differentiation to succeed, it should
be perceptible and should be rooted in
competitive advantage.
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PRODUCT MANAGEMENT
Product management means managing
the various product lines and the overall
product mix of the company.
This is also known as product policy.
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PRODUCT MANAGEMENT
How many different product lines should the firm
accommodate?
How can this be grouped for effective
management?
With in a product line what should be the
composition like? How to position these products in the market?
What should be the brand policy? Should there
be individual brands or family brands?
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PRODUCT MANAGEMENT
What should be approach to brand extension
(extending a brand name to more products e.g.
sunrise premium, sunrise extra coffee. Maggi
noodles, Maggi Ketchup, Magi soup)
How to develop brand equity?
How to plan for new products?
How to handle the products going throughdifferent stages of their life cycle? What are the
strategic treatments they require?
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PRODUCT DIFFERENTIATION AND
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POSITIONING
The product can be differentiated along two
major planks:
Tangible product attributes and functions&
Intangible characteristics and emotional
associations
For differentiation to succeed, it should beperceptible and should be rooted in competitive
advantage
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Tangible Product Attributes & Functions
Ingredients/formula (Close-up Gel, Promise Clove oil)
Functional - Standard furukawa maintenance free)
Highlighting quality dimension-Additionalfeatures (VIP suit case with wheels, pen with note check)
Packaging (Fruity in tetra pack, Brylcream in tube)
Design superiority (Titans 500 trend designs)
Product quality, technology, service: -(Godrej,(Maruti, Titan, TVS Worlpool)
Intangible Characteristics and Emotional
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Intangible Characteristics and EmotionalAssociations
Dinesh Suitings: differentiation is built
around prestige by using Sunil Gavaskaras the model.
Denesh Suitings .. the world in yourstride.
Ray Ban : Ray ban for exhilaration! It isthe lifestyle that is projected.
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PRODUCT POSITIONING
A PRODUCTS POSITION IS THE IMAGE THATTHE PRODUCT PROJECTS IN RELATION TOCOMPETITIVE PRODUCTS AND TO OTHER
PRODUCTS MARKETED BY THE SAME COMPANY All marketing strategy is built on STP
Segmentation, Targeting, and Positioning. If acompany does an excellent positioning, then it canwork out the rest of its marketing planning anddifferentiation for its positioning strategy.
Positioning is a platform for the brand. It helps thebrand to get through to the target customer
Positioning is the act of designing the
companys offering and image to occupy a
distinctive place in the mind of the target market
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distinctive place in the mind of the target market.
Positioning is what you do to the mind of theprospect, i.e. You position the product in the
mind of the prospect.
The aim of product positioning is to create a
perception for our brand in the prospects mindso that it stands apart from the competing
brands.. We must cover that space in the
customers mind as if we had won a long-term
lease. We must find a strong position in thatmind and sit on it. (Sengpta- in his book Brand
Positioning)
POSTIONING STRATEGIES:-
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Positioning in relation to competitor
Positioning by product attribute (with samefeature or benefit)
Positioning by price and quality
Positioning in relation to product use
Positioning in relation to product class (no sugaritems)
MAIN CONCERNS IN POSITIONING
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A Product cannot be Every thing to Everyone;Hence, the importance of Positioning
Positioning means putting the product
in a predetermined orbit
Connects product offering with Target Market
While positioning a brand, the firm has to reckon
Competitors especially the leaders positioning
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PRODUCT POSITIONING & BRANDPOSITIONING
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Product positioning denotes the specific
product category/product class, inwhich the given product is opting to
compete in the market.
Brand Positioning denotes the
positioning of the brand as against the
competing brands in the chosenproduct category.
BRAND MANAGEMENT A Brand is a name, term, symbol, design, or a
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y gcombination of them , which is intended to
identify the goods and services of one seller andto differentiate them from those of competitors.
When a brand mark is registered and legalized it
becomes a Trade mark. Brand is a significantselling tool in the market. Strong brands aremajor assets for companies.
A brand name consists of words, letters, ornumbers that can be vocalized.
Main tasks in managing a Brand: - Selection of Brand name and Logo
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Keeping it alive through: -
Brand extensions- (Dettol soap, Plaster, hand wash)
Brand rejuvenation (New Horlicks, New Vicks Vaprub)
Brand re-launches ( New santoor, Close-up red &blue Brand proliferation (adding more brands to the line)
Brand acquisition or take over
Monitoring the brand through its PLC
Brand portfolio rationalization/restructure
Monitoring brand equity
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CHARACTERISTICS OF A GOODBRAND NAME
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Easy to spell, read and pronounce
Suggestive of product benefits
Distinctive
Adaptable to new products
Capable of being registered
Adaptable to any advertising medium
No negative imagery
Adaptable for international markets (Kodak, CocoCola)
ConditionsFavorable
ConditionsFavorable1. Easy to identify by brand
or trademark
1. Easy to identify by brandor trademark
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to
BuildingBrandFamiliarity
to
BuildingBrandFamiliarity
2. Quality is best value forthe price
2. Quality is best value forthe price
3. Dependable and wide-spread availability
3. Dependable and wide-spread availability
4. Demand for general
product class is large
4. Demand for general
product class is large
5. Demand supports priceneeded to support brand
5. Demand supports priceneeded to support brand
6. Economies of scale
possible
6. Economies of scale
possible
7. Favorable shelf locationspossible
7. Favorable shelf locationspossible
SevenConditions
Favorable to
SuccessfulBranding
SevenConditions
Favorable to
SuccessfulBranding
Levels of BrandFamiliarity
Levels of BrandFamiliarity
Rejection
Rejection
Ch P iti
Focus:
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RejectionRejection
Non-recognitionNon-recognition
RecognitionRecognition
PreferencePreference
InsistenceInsistence
Change Position
Increase Awareness
Continue Education
Maintain Availability
Develop High
Brand Equity
Focus:
Focus:
Focus :
Focus :
PRODUCT LIFE CYCLE FOUR DISTINCT STAGES IN PLC:-
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MARKET PIONEERING STAGE MARKET GROWTH STAGE
MARKET MATURITY STAGE
MARKET DECLINE STAGE
The competitive environment and the
resultant marketing strategies will differdepending upon the stage.
The Product LifeCycle
The Product LifeCycle
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CycleCycle
Total
IndustrySales
Total IndustryProfit
+
-
Rs.0
Market
Introduction
Market
Growth
Market
Maturity
Sales
Decline
Time
Sales growslowly, ata cost
Sales growslowly, ata cost
Salesgrowth, butprofits leveloff
Salesgrowth, butprofits leveloff
Saleslevels, butprofitsdecline
Saleslevels, butprofitsdecline
Manage it orsay goodbye
Manage it orsay goodbye
Avoid Confusion about PLC Applies to whole product-market, not individual brand
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individual brands may come and go
Each market may have a different cycle Timing of stages may vary substantially
Strategy must change over time, and what you do early may
conflict with where you want to be later
Total
IndustrySales
Total IndustryProfit
+
-
Rs 0
MarketIntroduction
MarketGrowth
MarketMaturity
SalesDecline
Time
Market Pioneering Stage: -
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Teething troubles, low sales, less or no
profit, demand has to be created,customers have to be prompted to buy.
Pricing strategy to be adopted is critical in
this stage (Market skimming and Penetration)
High Pricing Low Pricing
MARKET GROWTH STAGE
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Demand for product increases and thesize of market grows. Competition-
oriented pricing and efficiency in
marketing and distribution are the
important factors in this stage.
MARKET MATURITY STAGE During this stage demand tends to reach a
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g g
saturation point. Prince competitionbecomes intense. Product differentiation
and Brand loyalty has to be built up.
Sales promotional activities, special
offers, packaging modifications, areimportant.
Low prices, increased marketing costs,
heavy competition and lesser profits arethe characteristics of this stage.
MARKET DECLINE STAGE Sales begin to fall, and Demand declines due to
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g ,the advent of new and functionally advancedproduct in the market.
At this stage management has the followingalternatives: -
Improve the product in functional sense Improve efficiency in Marketing & production Pruning unprofitable models and sizes
Cost control and cost cutting Abandon the product.
NEW PRODUCTDEVELOPMENTClassification of New Products:-
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C ass cat o o e oducts
New Products arising out of technologicalinnovations
New Products arising out of marketing-
oriented modifications The first group includes new products
having new functional utility
The second group includes innovations
on existing products.
New-Product DevelopmentProcess
New-Product DevelopmentProcess
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Idea
Generation
Idea
Generation ScreeningScreening Idea
Evaluation
Idea
EvaluationDevelop-
ment
Develop-
mentCommer-
cialization
Commer-
cialization
Process tries to generate many differentideas for new products but then we try tofigure out why it will NOT work so that wecan get rid bad alternatives and NARROWDOWN to focus our time and money on theattractive opportunities that have aprayer of success
Process tries to generate many differentideas for new products but then we try tofigure out why it will NOT work so that wecan get rid bad alternatives and NARROWDOWN to focus our time and money on theattractive opportunities that have aprayer of success
New-Product DevelopmentProcess
New-Product DevelopmentProcess
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Idea
Generation
Idea
Generation
Consciously organize to get ideas frommany sources:
customers and users marketingresearch
competitors other markets
Consciously organize to get ideas frommany sources:
customers and users marketingresearch
competitors other markets
New-Product DevelopmentProcess
New-Product DevelopmentProcess
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Idea
Generation
Idea
Generation ScreeningScreening
Consider strengths and weaknessesrelative to product concept
Evaluate fit with objectives and resources,including rest of marketing program
Analyze market trends
Get a rough ROI estimate, consideringshort and long-term customer satisfaction
Consider strengths and weaknessesrelative to product concept
Evaluate fit with objectives and resources,including rest of marketing program
Analyze market trends
Get a rough ROI estimate, consideringshort and long-term customer satisfaction
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New-Product DevelopmentProcess
New-Product DevelopmentProcess
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Idea
Generation
Idea
Generation ScreeningScreeningIdea
Evaluation
Idea
EvaluationDevelop-
ment
Develop-
ment
R&D Develop model or
service prototypeTest marketing mix Revise plans asneeded
ROI estimate
R&D Develop model or
service prototypeTest marketing mix Revise plans asneeded
ROI estimate
PACKAGINGDECISIONS Packaging may be defined as the general group
f ti iti i d t l i hi h i l
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of activities in product planning which involve
designing and producing the container orwrapper for a product
Protection, Convenience and economy were the
three important traditional purposes attached to
package.
Today Packaging is becoming a truly
competitive edge in marketing of consumer
products.
New packaging materials have replaced the
traditional ones, new shapes, size, closures etc.
CLASSIFICATION OFPACKAGING Transit Packaging for the process of
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g g p
distribution) Consumer Packaging (meant for
delivering goods to consumer)
Family Packaging (Products of amanufacturer packed in an identical way)
Reuse Packaging (Containers of Ghee,
Biscuit Tins, Horlics Jars)
Multiple Packaging (Placing several units
in one container)
PackagingStrategies
M ff P k
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g Money off Pack Coupon Pack Pack in Premium (gift inside) Re-Use Packaging
Self-liquidator (return of emptyfoils/wrappers/packs) Changing the Package Packaging the Product Line (use of identical
packing for all products) Multiple Packaging (Placing several units in
one container)
LABELING
A label is an information tag, wrapper or a sealtt h d t d t d t k
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attached to a product or a products package.
The important information provided by the labelis the name of the product, name of theproducer, quality, contents inside, weight, dateof production and expiry, important warnings,instructions to use, batch and lot no, MRP etc
The Packaged Commodities (Regulations) Order1975 makes it obligatory on the part of
manufacturers to show the above mentioned