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Marketing
Back to BasicsSession 1
Knowledge sharing by
SSS Team
Shilpa/Srivatsa/Sanjeev
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Inspiration
Business has only two functions - marketing and innovation.
Peter F. Drucker
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Marketing
Marketing is the activity, set of institutions and processes for
creating, communicating, delivering and exchangingofferings that have value for customers,clients,partners and
society at large.(American Marketing Association,2007)
Level 1(Strategic)
Level 2
(Tactical)
Marketing
Strategy
Segmentation
Target market selection
Positioning
Marketing
research(infofor marketing
decisionsMarketing
plan
4 Ps
Product
Price
Place
Promotion
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Comparison between Market
Research & Marketing research
Market research
Provide more global
information and focuses on
Place(of 4Ps)
May be considered as a subsetof Marketing research
country specifications
market potential and
accessibility
Provides overall customer
information (who, what, where,
when and how)
Competitors, information about
industry
Marketing research
Helps in the making strategic
and tactical decisions in
developing marketing plan
gives rather a more in-depthinformation on your offer and
customers.
interviews
tests of offer with direct
feedback
follow-up of the consumer and
its behaviour
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Definitions- AMA
Market research: The systematic gathering, recording, and
analysing of data with respectto a particular market, where
market refers to a specific customer group in a specific
geographic area
Marketing research: is the systematic gathering, recording,
and analysis of data about issues relating
to marketing products and services
Focus groups, Observation, surveys,experiments
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Marketing Research-Example
Gillette Venus Razor for Women
New product development
Extensive consumer research and market tests
Research revealed : Women changed their grip on a razor about 30 times
during each shaving session
Need a storage case to stick to shower walls
A case to hold spare blade catridges as women were
reluctant to leave the shower in order to replace a blade
Introduced 4 types of Venus Razors: Perfect shave
seekers, skin pamperers, pragmatic functionalities, EZ
seekers
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Core Competency & Competitive
Advantage A core competency has 3 characteristics:
i. It is a source of competitive advantage and makes a
significant contribution to perceived customer
benefits
ii. It has applications in a wide variety of marketsiii. It is difficult for competitors to imitate
E.g. Core competency in Product design, development and marketing ,
outsourcing manufacturing to offshore place
Competitive advantage :
Ultimately derives from how wellthe company has
fitted its core competencies and distinctive
capabilities into tightly interlocking activity systems
so that competitors cannot imitate in near future
E.g.: Southwest Airlines in US, Wal-Mart, Ikea
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How can you maximize your
organization's core
competencies?
Solution : Business Realignment (Marketing Management ,Kotler)
E.g. Godrej & Boyce realigned its furniture business to target the
home segment(Godrej Interio), with successful results
Reasons: Growing competition in institutional segment, evolving
consumer tastes and the aim to increase market share
Business realignment has 3 steps:
1. (re)defining the business concept or big idea
2. (re)shaping the business scope
3. (re)positioning the companys brand identity.
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What is marketed/requires
marketing?
1. Goods
2. Services
3. Events
4. Experiences*
5. Persons*
6. Places*
7. Properties
8. Organizations
9. Information
10. Ideas*
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Social marketing
Promoting powerful ideas that encourage socially desirable
behaviour and action is part of social marketing.
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4 Ps and 7Ps
Successful marketing dependes upon a number of key issues.These include:
4Ps
What a company is going to produce: Product
How much it is going to charge: Price
How it is going to deliver its products/services: Place
How it is going to sell its customers about its products/services: Promotion
3 more Ps
As marketing became a more sophisticated discipline, a fifth was added
People: The reputation of your brand rests in your peoples hands
Mainly for service sector two more Ps- Process & Physical evidence
Source : The Chartered Institute of Marketing
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Thank you
SSS Team
signing off