MODULE D

MARKETING MANAGEMENT

S.V.ATRE FACULTY, BANK OF INDIA, MANAGEMENT DEVELOPMENT INSTITUTE, CBD BELAPUR, NAVI MIMBAI E-MAIL sva1955@indiatimes.com

MODULE D MARKETING MANAGEMENT

Introduction to Marketing and Key Concepts Marketing Planning Consumer Behaviour The Art of Customer Service-As Applied to Banking Consumer and Market Segmentation Marketing Research Marketing Mix Competitor Analysis Product Strategy The Concept of Product/Service Delivery Pricing Strategy and its Application in Banking Bank Distribution Strategy Product Strategy Sales Training and HRD in Marketing

Introduction to Marketing and Key Concepts rketing and Key Concepts

Definition
Marketing Marketing as a functional Area of Management Marketing as an Overall Business Philosophy

Marketing Concepts
The Evolution and the Why of Modern Marketing The Core Concepts of Marketing Marketing Management Company Orientations toward the marketplace (Marketing Concepts)

Difference between Services and Products/Physical Goods

Characteristics of Services Definition: Service The Servuction Process

What is Marketing??
Selling?
Advertising? Promotions? Making products available in stores? Maintaining inventories?

All of the above, plus much more!

Marketing = ?
Marketing is the process of planning , and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals
American Marketing Association

Simple Marketing System

Communication

Goods/services Industry (a collection of sellers) Money Market (a collection of Buyers)

Information

Marketing = ?
Marketing is the sum of all activities that take consumer to a sales outlet.

After that sales takes over. Marketing is all about creating a pull, sales is all about push.
Marketing is all about managing the four Ps

product

price
place promotion

What is the difference between Marketing and Selling ?

Difference Between - Sales & Marketing ?

Sales
trying to get the customer to want what the company produces

Marketing
trying to get the company produce what the customer wants

MARKETING PLANNING
Macro-and Micro factors influencing the Market for an Organisations Goods and Services
Controllable Marketing Variables and the Macro-Environment Proximate Macro-Environment

Applicability to Banking
The competititive Environment in Banking

Meaning and Importance of Planning in Marketing

Traditional Planning Difference between a Marketing Plan and a Companys Corporate Plan Market-oriented Strategic Planning Difference between Marketing Plan and the Marketing Planning Process

Banking Regulation and its Impact on Marketing Strategies

10

Strategic Planning
Strategic Planning is the managerial process of creating and maintaining a fit between the organizations objectives and resources and the evolving market opportunities. Also called Strategic Management Process All organizations have this Can be Formal or Informal

CONSUMER BEHAVIOUR
Consumer Behavior: A directional force The Complexity of Consumer Buying Decisions Needs and Motives Individual Perception Learning and Habit Development

Behaviour Models for Analysing Buyers The Marshallian Economic Model The Pavlovian learning Model The Freudian Psychoanalytic Model The Veblenian Social Psychological Model

Factors Influencing Consumer Behaviour in Banking

12

THE ART OF CUSTOMER SERVICE AS APPLIED TO BANKING

Building Customer Satisfaction through Quality, Service, and Value Customer Value and Satisfaction Defining Service Quality Managing Quality Delivering Customer Value and Satisfaction: Moments of Truth The Triangle of Service Image as a Managed Perception Customer Relations in Services Marketing

13

What is a Service ? Defining the Essence

An act or performance offered by one party to another (performances are intangible, but may involve use of physical products)
An economic activity that does not result in ownership A process that creates benefits by facilitating a desired change in customers themselves, or their physical possessions, or intangible assets

CONSUMER AND MARKET SEGMENTATION Introduction Mass Markets and Segmentation Types of Consumer Segments Characteristics of Segments Benefits and Disadvantages of Market Segmentation Alternative Strategies Evaluation Marketing Segmentation Strategy: Techniques Application of Segmentation to Banking Services

MARKETING RESEARCH Market Research is Research all about the Market Its Size, Composition, Structure and so on Marketing Research Process Types of Data----Primary and Secondary Data Quantitative and Qualitative Research Methodologies Time and Cost Constraints The Major Uses of Marketing Research Marketing Information System
16

MARKETING MIX Marketing of Financial Services Bank Marketing Marketing Mix

Services Marketing Mix Current Development

17

COMPETITIOR ANALYSIS

Introduction Gap Psychiatry A Structural Methodology

Build a Strategic Planning Knowledge Base

Creating a Sustainable Advantage Speeds as Strategy Competitive Strategies

18

PRODUCT STRATEGY
Nature of Product Product and Service Elements of Product Mix Product Life Cycle and Product Strategies

Product Analysis New Product Development Branding in Marketing

Role of Brand in Bank Marketing

19

THE CONCEPT OF PRODUCT/SERVICE DELIVERY

Process Cycle in Product Development Packaging and Delivery

20

PRICING STRATEGY AND ITS APPLICATION IN BANKING

Pricing for Profitability Elasticity of Demand Pricing Methods/Strategies Pricing Decisions

Pricing Concept in Banking Pricing Review and Committees Concept of Service Fees
21

BANK DISTRIBUTION STRATEGY

Distribution of Financial Services

Barriers Channels of Distribution for Banks

22

PRODUCT STRATEGY
Introduction Communication Process Goals of Communication Advertising and Sales Promotion

Sales Promotion
Publicity Internal Communication Marketing Information Systems (MIS) Concept of Moments of Truth Customer Care
23

SALES TRAINING AND HRD IN MARKETING Proper Attitude Orientation of Staff Selling Skills Required Need and Importance of Sales Training Sales Training and Strategy Selling Process Impact of Training as HRD Intervention in Marketing Direct Sales Force Importance of Quality Service Public Relation and Institution Image
24

EMERGING TRENDS IN CUSTOMER SERVICE

CUST SERVICE AS A MARKETING TOOL INTERNAL CUSTOMERS HRD

QUOTES
IF YOU BUILD A GREAT EXPERIENCE, CUSTOMERS,TELL EACH OTHER ABOUT THAT . WORD OF MOUTH IS VERY POWERFUL. Jeff Bezos

QUOTES
Customers dont expect you to be perfect They do expect you to fix things when they go wrong.

Donald Porter

QUOTES
Customer service is awareness of needs, problems, fears and aspirations.

QUOTES
Quality in service or product is not what you put into it. It is what the client or customer gets into it

Peter Drucker

QUOTES
Our greatest asset is the customer. Treat each customer as if they are the only one!

Laurice Leito

QUOTES
It takes less effort to keep an old customer satisfied than to get a new customer interested

Robert Half

QUOTES
What you give is what you get returned i.e. the way you handle your employees is the way they will handle (manhandle) your customers.

E.D.HORRELL