36638459 introduction to marketing ppt 2
TRANSCRIPT
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Introduction to
Marketing:
Sessions 1-2
“Marketing is too important to be left to the marketing department.”
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“ In the factory we produce cosmetics.In the drugstore we sell hope.”
Charles Revson
Work in Pairs: Make a similar statement for another Product.
Role of Marketing in an Organization
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Introduction to Marketing
Activity
How Marketing Savvy are you ?
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1. ( 1 mark ) Who said this:
“They can have any color they want as long as it is black.”
a) G D Birla founder of Hindustan Motors.b) Henry Ford founder of Ford
c) Henry Royce founder of Rolls-Royced) Louis-Joseph Chevrolet co founder of Chevrolete) Kiichiro Toyoda founder of Toyota
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Tata Jamsetji
Walmart Sam Walton
CNN Ted Turner
Kingfisher Vijay Mallyya
Nike Phil Knight
VIP Suitcases Piramal
Virgin Richard Branson
Reliance Ambani
FedEx Fred Smith
Satyam Ramalingam Raju
Sony Akio Morita
Bharti Sunil Mittal
Ford Chrysler Lee Iacocca
HCL Shiv Nader
MicroSoft Bill Gates
Eveready Khaitans
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Morepen Labs BurnolHeinz ComplanMarico KayaHUL Kwality WallsTata IndicaP&G Ariel
Pidilite FevicolNestle CerelacWipro SantoorITC Sunfeast
( 1 mark ) Which IT company is nicknamed 'Big Blue'?
Hewlett Packard Dell IBM Sony Compaq
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Michelin BibendumAsian Paints GattuNike Phil KnightAmul MoppetFerrari Horse
McDonald’s RonaldAir India MaharajaAdidas Three stripesVodafone ZoozooNirma Dancing girlKingfisher Bird
7 Up Fido
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Four Eras of Marketing History
“A good product
will sell itself.”
“Creative advertising and
selling will overcomeconsumers‟ resistance and
convince them to buy.”
“The consumer rules!
Find a need and fill it.” “Long term relationshipswith customers and otherpartners lead to success.”
Prior to 1920‟s to 1950‟s Since 1950‟s Since 1990‟s Era Production Sales Prior Marketing Relationship
In the United States and other highly industrialized economies
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Relationship Marketing
The development,growth, andmaintenance of long-
term, cost-effectiveexchange relationshipswith individual
customers, suppliers,employees, and otherpartners for mutual
benefit.
Advocate
LoyalSupporter
RegularPurchaser
NewCustomer
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Customer Needs / Wants / Demands
Directed at specific
Objects – shaped by
one‟s society. Eg.
Rice, dals, fruits
Wants for
specific productsbacked by anability to pay.
Eg : Pepsi, Benz,
etc.
CustomerNeeds ( Basic )
Wants Demands
Eg. FoodAir, shelter
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I want it, I need it…..
5 Types of Needs
• Stated needs:• Real needs:
• Unstated needs:
• Delight needs:• Secret needs:
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I want it, I need it…..
5 Types of Needs
• Stated needs: admission to a good institute .• Real needs: must afford the fees.
• Unstated needs: good teaching from faculty
• Delight needs: good placement • Secret needs: good brand to last a life time
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What is Marketing?
Marketing is finding out what the consumer wants and then
giving it to him / her, in a commercially
viable manner.
Marketing therefore becomes an attitude, a state of mind and a philosophy which guides the operations of a business.
.
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What is Marketing?
"Marketing is the activity, set ofinstitutions and processes, for creating,
communicating, delivering andexchanging offerings that have value forcustomers, clients, partners,
and society at large.“
AMA, 2008
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An organizational function and a set of processes for:
creating,communicating, anddelivering value to customers andfor managing customer relationships
in ways that benefit the organization and its stakeholders
What is marketing ?
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Marketing Variables - Marketing Mix
• Product
• Price
• Promotion• Place
Using the Marketing Mix to build long term relationships.
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Mark’s & Spencer’s
Session 2
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Marks & Spencer
• What is the problem that Stuart Rose wasfacing when he took charge of M&S?
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Marks & Spencer
• What is M&S strategy
• What value is being created• What should S Rose do and why
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Stuart Rose’s concerns
Processes
Stakeholders
Resources
Organization
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Marks & Spencer
Decision Areas in Marketing
•Creating customer value•Strategic planning
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Characteristics of Company
• No senior mngt sign off – too much delegation
• Too much inventory
• High profile customers
• St Michael‟s – a value for money brand
• 16 sub brands .
• Advertising not aspirational but functional
• Diverted from retail heartland – not customer focused.
• New competition like Next, Walmart ( ASDA)
• Led by consultants experimenting with projects
• De motivated staff
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What Stuart Rose did
• Fighting off a hostile takeover• Managing Press• Support of 2 trusted execs – in IT and Marketing• Streamlined 5 sourcing offices• Made suppliers conscious of this being „our‟ problem and reduced costs • House cleaning – off many brands• Retrenched 650 staff but retained home grown talent• Motivated retained staff – making them customer focused• HR measures• Stock management – 2 crimes : overstocked and short of stock• Daily reporting to ceo of stock position
• Problems are not allowed to fester• Focus on the basics of the business – improve product / store / service• Selling off their financial services to HSBC• Buying Per Una womens wear brand
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Calendar – Till Mid Term
July 9th
: Kinko , the caseJuly 14th : Consumer Behavior – GP
July 16th : Financials of Marketing
Week end: Vora & Co : Write Case analysis
July 20th : Kerala TourismJuly 21st : Titan
July 23rd : Competition lecture
Week end : Prepare for Quiz on Chs 1,6,7,8
July 27th: Quiz / Competition
July 28th : Kodak versus Fuji
July 30th : Mid Term Wrap up
Aug 3rd
/ 4th
: Group Presentations on environment
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Project 1
– What were the triggers of purchase.
– What were the stages in the purchase processes.
– What inputs were sought in each of these stages.
– Who played what kinds of roles in each stage
and – Approximately how much time was taken in
each stage.
– Was there any post purchase dissonance?
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Methodology
• Based on the learning‟s and insight from the in-depth discussionswith THREE consumers, please draw implications for marketingdecisions.
• Ask probing questions.
• Do not construct a structured questionnaire. Just carry with you alist of
questions to guide you discussions.
• The report should be limited to 3 pages ( one and a half space, 12ptTimes Roman / Arial ) including Appendix, if any.
• The report is due just before the presentation.• Late submissions irrespective of reasons, however genuine, will
have a 50% reduction in marks if the report is submitted after thenext 2 days and will not be accepted beyond 2 days.
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M&S – 2004 – Group activity
What are the rules of doing business in theretail space?
Was there anything new being done byStuart Rose?
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Rules of the Game
Paradigm shift – changing the rules of thegame.
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When you create a
concept, youcreate a future…
Marketing….
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Marketing Mix and the Customer
Four Ps
• Product
• Price
• Place
• Promotion
Four Cs
• Customer solution
• Customer cost
• Convenience
• Communication
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Marketing Myopia
Management‟s failure to recognize the
scope of its business.
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Avoiding Marketing Myopia by Focusing on
Benefits
“We are in the
entertainment business.” “We are in the video
game business.” Sony
“We are in the financial
services business.” “We are in the stock
brokerage business.” Prudential Securities
“We are in the
transportation business.” “We are in the airline
business.” Northwest Airlines
“We are a communications
company.”
“We are a telephone
company.”
MCI Worldcom
Marketing-OrientedDescription
Myopic DescriptionCompany
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Make Product
(Design, Procure, Make)
Sell Product
(4 P‟s / 4 C‟s)
Product Process
STPSegmentation, Targeting,
Positioning
Provide & CommunicateValue through
4 P‟s / 4 C‟s
Value Creation & Delivery
Strategic Marketing Tactical Marketing
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How do we identity needs, wants , desires and market to diverseand large crowds :
STP
Brands &
Benefits
CustomerSatisfaction
Markets:Channels
Supply ChainCompetition
MktgEnvn.Societal
Forces
ConsumerCapabilities CompanyCapabilities
Internal Marketing: Relationship Marketing;Integrated Marketing
4 P‟s
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HOLISTIC RELATIONSHIP MARKETING FRAMEWORK
CUSTOMERS CORPORATION COLLABORATORS
1) Who is involved?
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HOLISTIC RELATIONSHIP MARKETING FRAMEWORK
MARKET
SPACE
CUSTOMERS CORPORATION COLLABORATORS
1) Who is involved?
2) How can we define relevant market space?
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HOLISTIC RELATIONSHIP MARKETING FRAMEWORK
MARKET
SPACE
POTENTIAL
OPPORTUNITIES
CUSTOMERS CORPORATION COLLABORATORS
3) What are the potential opportunities emerging from the market space?
1) Who is involved?
2) How can we define relevant market space?
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HOLISTIC RELATIONSHIP MARKETING FRAMEWORK
MARKET
SPACE
POTENTIAL
OPPORTUNITIES
BUSINESS
INVESTMENT
CUSTOMERS CORPORATION COLLABORATORS
3) What are the potential opportunities emerging from the market space?
4) What business capabilities and infrastructure required?
1) Who is involved?
2) How can we define relevant market space?
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HOLISTIC RELATIONSHIP MARKETING FRAMEWORK
MARKET
SPACE
POTENTIAL
OPPORTUNITIES
BUSINESS
INVESTMENT
CUSTOMERS CORPORATION COLLABORATORS
CUSTOMER
FOCUS
CORE
COMPETENCIES
COLLABORATIVE
NETWORK
2) How can we define relevant market space?
3) What are the potential opportunities emerging from the market space?
4) What business capabilities and infrastructure required?
1) Who is involved?
ExploreValue
Createvalue
DeliverValue
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Printed on CANON
COMPETITIVE PLATFORMS
Market
Offerings
COGNITIVESPACE
CUSTOMERVALUE
BUSINESSDOMAIN
COMPETENCYSPACE
Business
Architecture
BUSINESSPARTNERS
CRM ERP
RESOURCESPACE
SCM
Marketing
ActivitiesOperational
System
Exploring Value
Creating Value
Delivering Value
Customer Focus
Core Competencies
Collaborative Network
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M&S
How did strategies change over 2004 to2008?
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M&S Now
How should M&S market in today‟s
downturn?
Group Activity :
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Defining the corporate mission for M&S
• Mission
– What business is M&S in? What businesses shouldwe be in? What do we do best? What are thevalues/ethics of the firm?
– Define business by need rather than productfeatures.
- Lodging vs hotel- Quick service restaurants vs fast food hamburgers
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Characteristics of Core Competencies
• A source of competitive advantage
• Applications in a wide variety of markets• Difficult to imitate
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Categories of Marketing Alliances
• Product or Service Alliances
• Promotional Alliances
• Logistics Alliances
• Pricing collaborations
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Concepts of Sesson 3 & 4
• A holistic marketing framework
• Marketing myopia
• Core competency
• B2B marketing
• Business buying behavior
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Consumer Decision MakingProcess
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Project 1
– What were the triggers of purchase.
– What were the stages in the purchase processes.
– What inputs were sought in each of these stages.
– Who played what kinds of roles in each stage and
– Approximately how much time was taken in each stage.
– Was there any post purchase dissonance?
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What Influences Consumer Behavior?
• Cultural factors – related to values/socialclass / religion/community
• Social factors – related to reference
groups, family, roles & status.
• Personal factors – related to family lifecycle / occupation / personality / self-
concept / life style
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Social Factors
Reference
groups
Socialroles
Statuses
Family
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Reference Groups
• Membership
• Primary
• Secondary
• Aspirational
• Dissociative
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Family
• Family of orientation
– Religion
– Politics
– Economics• Family of procreation
– Everyday buying behavior
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Personal Factors
• Age
• Life cycle stage
• Occupation
• Wealth
• Personality
• Values
• Lifestyle
• Self-concept
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Socio economic Classification
• Urban : Occupation & Education ( SEC A,B,C & D )
• Rural : Type of House ( pucca, semi-pucca
and kucha ) and education ( R 1, R2 etc )
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Socioeconomic Classification (SEC) Matrix — India (Urban)
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Key Psychological Processes
• Motivation
• Perception
• Learning
• Memory
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Motivation
• Maslow‟s hierarchy of needs
• Freud‟s theory
• Herzberg‟s two-factor theory
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Physiological Needs
(Food, water, air, shelter, sex)
Safety and Security Needs
(Protection, order, stability)
Social Needs
(affection, friendship, belonging)
Maslow’s Hierarchy of Needs
Ego Needs
(Prestige, status, self esteem)
Self-Actualization
(Self-fulfillment)
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Besides ‘Needs’ behavior is due to :
• Unconscious psychological process (Freud )
• Motivations that cause satisfaction or
dissatisfaction ( Herzberg )
• High involvement or low involvementproduct
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Perception
• Selective attention
• Selective retention
• Selective distortion
• Subliminal perception
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Project 1
– What were the triggers of purchase.
– What were the stages in the purchase processes.
– What inputs were sought in each of these stages.
– Who played what kinds of roles in each stage and
– Approximately how much time was taken in each stage.
– Was there any post purchase dissonance?
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How do consumers make buying decision?
• Initiators
• Influencers
• Deciders
• Buyers
• Users
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Consumer Buying Process
• Problem recognition
• Information search
• Evaluation
• Purchase decision
• Postpurchase behavior
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Other Theories of
Consumer Decision Making
Involvement• Elaboration likelihood
model• Low-involvement marketing
strategies
• Variety-seeking buyingbehavior
Decision Heuristics (non rational)
• Availability – quickness & ease
• Representativeness ie howsimilar is the outcome
• Anchoring and adjustment .First impressions are lastingimpressions.
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Project 1
– What were the triggers of purchase.
– What were the stages in the purchase processes.
– What inputs were sought in each of these stages.
– Who played what kinds of roles in each stage and
– Approximately how much time was taken in each stage.
– Was there any post purchase dissonance?
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Economic Conditions
New Technology
Media
Law & Politics
Social Culture
Marketing mix(competitor & own)
Characteristics resulting
from:-social /reference groups-family values-role & status
Personal circumstances-socio-economic-life style-psychologicalprocess &personality
Decision process-need recognition-information search-evaluation-purchase intention-purchase
-post purchaseperceptions
Product form
Brand
Retail outlet
Value
Form of payment
Timing ofpurchase
External Factors Buyer’s Black Box Outcomes
Consumer’s Purchase Decision