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Review Lecture 1.7 Holistic Marketing Concept

Internal Marketing Integrated Marketing Relationship Marketing Performance Marketing

Assignment 12: Most of the businesses these days value the importance of holistic marketing concept. Identify a

product/brand of your choice and evaluate the importance of four principles of holistic marketing to the company. [10]

1.8 Additional Concepts of Marketing

KAUSHAL RAJ SAPKOTA

FACULTY, MARKETING (HSEB 10+2), ULLENS SCHOOL

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Market Traditional Concept Place

where things are bought and sold

MARKET = CUSTOMERS Types of Market:

Industrial Market Consumer Market

Marketing strategy depends on market type

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Market: Location, size, growth and share Location:

Proximity affects sales Depends on nature of product

Types: Local, National and International

Size: Volume vs. Value, Total sales in the market Growth: Increase in total sales in the market Market Share (Different from Share Capital)

Two approaches: 1. Volume (Qty.) 2. Value ($XXX) Value = Price X Quantity OR Volume = Quantity Market Share= (Firm’s Sales over a time period/total

market sales in the time period) * 100

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Working Example

Particulars 2013 2014

Total number shoes sold 2m 2.5m

Number of shoes sold by Fit Rite Shoes 0.8m 1m

Others' sales in the market 1.2m 1.5m

Total value of shoes in the market NPR. 2,000m NPR. 2,250m

Total value of sales of Fit Rite Shoes NPR. 1,200m NPR. 1,600m

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Market Leader Company with the highest market share Advantages of being a market leader:

Clearly sales are higher Retailers are keen to stock and promote Lower discount demand by retailers Advertising element Forced selling

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Production Inputs Process Outputs Inputs: Land, Labor, Capital,

Entrepreneur Process: Resources, Goals,

Structure and Organization Output: Goods and Services Production as the process of

Adding Value

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Adding Value Changing:

Form Time Place

USP (Unique Selling Proposition) Promotion and branding

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Mass Marketing Selling the same product to a larger

group One product to the entire market Advantages:

Economies of scale

Limitations: Market Research Cost Customization Opportunity Loss

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Market Segmentation Market Segment: Sub-group of the market where

consumers share similar characteristics Steps

Consumer Profile and Research Segmentation Target Marketing

Approaches Geographic Demographic Psychographic

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Niche Marketing Identifying and targeting a small segment

of a larger market. Advantage:

Small firms Customization Own brand identity Fewer risk

Limitation: Advantages of economies of scale

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Marketing Mix Product Mix (Product planning, development, launch, warranty, support

services) Promotion Mix (Above the line, below the line, direct selling, brand plan) Price Mix (Pricing, discounts, price over time) Place/Distribution Mix (Channel choice, intermediary choice)

Integrated Marketing Mix ROLEX

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End of the lecture Assignment 13 (Worksheet Attached):

Market Size and Growth Market Share

Assignment 14: Short Answer Questions (pg. 33) Case Study: Gold Star Shoes Deadline: Next Sunday

Thought of the day:

“You can’t sell anything if you can’t tell anything.” – Beth Comstock