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What is marketing ? Key customer markets


Business Markets Consumer Markets

Needs , Wants & Demand

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VALUE BASICS

TACTICAL MARKETING

CONSUMER BEHAVIOUR

STRATEGIC MARKETING

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VALUE BASICS

TACTICAL MARKETING

CONSUMER BEHAVIOUR

STRATEGIC MARKETING

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Image value Personnel value Services value Product value Monetary cost Time cost Energy cost Psychic cost Total customer cost Total customer value Customer delivered value

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Customer Satisfaction Customer Touchpoints


Touch points for hotel Touch points for an airline

Growth as an objective
Strategic planning gap

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VALUE BASICS

TACTICAL MARKETING

CONSUMER BEHAVIOUR

STRATEGIC MARKETING

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Problem Recognition

The Buying Decision Process Why are we reviewing this simple buying decision process ?? Types of buying decision behaviour

Information Search

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Evaluation of Alternatives

Purchase Decision

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Post Purchase Behaviour

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TYPES OF BUYING DECISION BEHAVIOUR


High Involvement Low Involvement VarietyVariety-seeking buying behavior Complex buying behavior

Significant Differences between Brands

Few Differences between Brands

DissonanceDissonance-reducing buying behavior

Habitual buying behavior

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VALUE BASICS

TACTICAL MARKETING

CONSUMER BEHAVIOUR

STRATEGIC MARKETING

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Market Segmentation

Market Segmentation
Geographic Segmentation Demographic Segmentation

Market Targeting

Psychographic Segmentation
x Life Style x Personality Characteristics

Market Positioning

Multiple Segmentation

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Market Segmentation

Effective Segmentation
Measurable Substantial

Market Targeting

Accessible Differentiable

Market Positioning

Actionable

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Market Segmentation

Market Targeting
Undifferentiated Marketing Differentiated Marketing

Market Targeting

Niche Marketing Micro Marketing

Market Positioning

Socially responsible target marketing

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Market Segmentation

Market Positioning
Identifying possible competitive advantages
x Differentiating on the basis of

Market Targeting

Choosing the right competitive advantages


x One difference or more

Market Positioning

Positioning the company calls for concrete actions

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VALUE BASICS

TACTICAL MARKETING

CONSUMER BEHAVIOUR

STRATEGIC MARKETING

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PRODUCT

PROMOTIONS

PRICE

PLACE

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PRODUCT

PROMOTIONS

PRICE

PLACE

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What is a product ?

Product Levels
Core Actual Augmented

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Building Brands
Brand Sponsorship
x Manufacturers brands versus private brand x Licensing x Co Branding

Brand Development

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Brand Development
Product Category Existing New

Brand Name Existing Line Extension Brand Extension

New Multi Brands New Brands

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Product Life Cycle


Limited Life Each stage pose a different challenge Profits rise and fall at different stages

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PRODUCT

PROMOTIONS

PRICE

PLACE

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Price is the amount of money charged for a product or service ? General Pricing Approaches
Cost Based Value Based Competitor Based

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Price adjustment strategies


Discount & Allowance Pricing Segment Pricing Psychological Pricing Promotional Pricing Geographical Pricing

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Initiating and responding to price changes


Initiating price cuts Initiating price increases

Is it possible to increase price invisibly ?

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PRODUCT

PROMOTIONS

PRICE

PLACE

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Firms success does not


depend on how well it performs

Channel Levels Zero level One level Two level Three level

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Channel Conflicts
Horizontal Conflicts
x Among Distributors

Vertical Conflicts
x When using multiple channels
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Vertical Marketing System Multi distribution System


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PRODUCT

PROMOTIONS

PRICE

PLACE

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Communication is important in building and maintaining any kind of relationship A view of the communication process can help us in effectively promoting our product

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Communication Process

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Communication alone can not create positive feelings and purchase An outstanding marketing communication can actually speed the demise of a poor product

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Communication Appeals
Rational Appeal
x Audience Self interest

Emotional Appeal
x To stir up negative or positive emotions x Love , Joy, Pride, Humour x Fear, Guilt, Shame

Moral Appeals

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SALES PROMOTION Print and broadcast Contests, games ads sweepstakes, lotteries

ADVERTISING

PUBLIC RELATIONS Press kits

PERSONAL SELLING Sales presentations

DIRECT MARKETING Catalogs Mailings Telemarketing Electronic shopping TV shopping Fax mail E-mail Voice mail

Packaging outer Premiums and gifts Speeches Sales meetings Packaging inserts Sampling Seminars Incentive programs Brochures and Fairs and trade shows Annual reports Samples booklets Posters and leaflets exhibits Charitable donations Fairs and trade shows Directories Demonstrations Sponsorships Reprint of ads Coupons Publications Billboards Rebates Community relations Display signs Low-interest Company magazine financing Point of purchase Entertainment Events displays Audiovisual material Trade-in allowance Symbols and logos Community programs Videotapes

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Push Strategy
Using sales force and trade promotions to push the product through channels

Pull Strategy
Spending a lot on advertising and consumer promotions to build up consumer demands

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