key consumer markets - ravjot pandita - home · 2012-07-12 · consumer markets. key customer...
TRANSCRIPT
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KEY CONSUMER MARKETS
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Key Customer Markets
Consumer goods and
services such as soft
drinks and cosmetics,
spend a great deal
of time trying to
establish a superior
brand image.
Consumer Markets
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Key Customer Markets
Companies selling
business goods and
services often face well-
trained and well-
informed professional
buyers who are skilled in
evaluating competitive
offerings.
Business Markets
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Business markets
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Key Customer Markets
Companies face
challenges and
decisions regarding
which countries to
enter, how to enter the
country, how to adapt
their products/services
to the country, and how
to price their products.
Global Markets
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Companies selling to
these markets have to
price carefully because
these organizations
have limited purchasing
power.
Nonprofit/ Government Markets
Key Customer Markets
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CORE MARKETING
CONCEPTS
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Core Marketing Concepts
• States of felt deprivation
• Physical: Food , Clothing, Warmth, Safety
• Social: Belonging & Affection
• Individual: Knowledge & Self Expression
Needs
• Form that human needs take as shaped by culture & individual personality.
Wants
• Human wants backed by buying power.Demand
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• Dividing the markets into segments of customersSegmentation
• Which segment to go afterTargets Markets
• Consumer’s perception of the product.Positioning
Core Marketing Concepts
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Core Marketing Concepts
• Offering: Intangible Value proposition made physical by an offering.
• Brand: Offering from a known source
Offerings & Brands
• Value: Sum of perceived tangible or intangible benefits and cost to customer.
• Satisfaction: Reflects a person’s judgments of products perceived performance in relation to expectations.
Value & Satisfaction
• Communication Channel:
• Distribution Channel
• Service Channels
Marketing Channels
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Core Marketing Concepts
• Channel stretching from raw material to components to final products that are carried to final buyers
Supply Chain
• Includes all the actual and potential rival offerings and substitute a buyer might consider.
Competition
• Task Environment
• Broad Environment
Marketing Environment
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MARKETING MIX
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Marketing MIX
Marketing Mix is defined as the elements that an
organization controls that can be used to satisfy or
communicate with customers.
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4 Ps of Marketing
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Product
•Product Variety
•Quality Level
•Design
•Packaging
•Warranties
•Product Lines
•Branding
•Services
A product, service or idea is that which
satisfies the needs & wants of the customers
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Price
1. List Price
2. Discounts &
Allowances
3. Payment period
4. Credit terms
Price is the amount a consumer pays in exchange for the product or
service.
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Promotion
Sales Promotion
Advertising
Sales Force
Public Relations
Direct Marketing
Promotion activities are meant to communicate &
persuade the target market to buy the company’s
products.
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Place
Channels
Coverage
Assortments
Locations
Inventory
Transport
Place represents the location where a
product can be purchased.
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People
Physical Evidence
Process
Extended 3 Ps
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People
All people who
directly or indirectly
influence the
perceived value of the
product or service,
including knowledge
workers, employees,
management and
consumers.
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Physical Evidence
The direct sensory
experience of a
product or service
that allows a
customer to
measure whether
he has received
value.
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Physical Evidence
Packaging.
Internet/web pages.
Paperwork (such as invoices, tickets and despatchnotes).
Brochures
Furnishings.
Signage (such as those on aircraft and vehicles).
Uniforms.
Business cards.
The building itself (such as prestigious offices or scenic headquarters).
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Process
Procedures, Mechanisms and Flow of Activities which lead to
an exchange of value
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7Ps & 7Cs
The 7Ps The 7 Cs
Organization Facing Customer Facing
Product Customer
Price Cost
Place Convenience
Promotion Communication
People Caring
Process Co-ordinated
Physical Evidence Confirmation
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Marketing Debate:
Take a Position!
Does marketing shape consumer needs?
or
Does marketing merely reflect the needs and wants
of consumers?