1.makrtng-useful.ppt

7/27/2019 1.MAKRTNG-USEFUL.ppt

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Private & Confidential 1

What is Marketing??

Selling?

Advertising?

Promotions? Making products available in

stores?

Maintaining inventories?

All of the above, plus much more!


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Marketing = ?

Marketing is the process of planning and

executing the conception, pricing,

promotion, and distribution of ideas,

goods, services to create exchanges that

satisfy individual and organizational goals

American Marketing Association


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Marketing = ?

Marketing management is the art and

science of choosing target markets and

getting, keeping, and growing

customers through creating, delivering,

and communicating superior customer

value.


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GREAT WORDS OF MARKETING

1. Thepurpose of a company is tocreatea customerThe only profit center is thecustomer.

2. A business has twoand only twobasic functions: market ing andinnovat ion. Marketing and innovationproduce results: all the rest are costs.

3. Theaim of marketing is to make sellingunnecessary.


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GREAT WORDS OF MARKETING

4. While great devices are invented in

the Laboratory, great products areinvented in the Marketing

department.

5. Marketing is too important to be leftto the marketing department.


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Marketing = ?

Marketing is the sum of all activities that take you

to a sales outlet. After that sales takes over.

Marketing is all about creating a pull, sales is all

about push.Marketing is all about managing the four Ps

product

price

place

promotion


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Marketing Mix Tools Marketers use numerous tools for desired

responses from their target markets. These toolsconstitute a marketing mix:

Marketing mix is the set of marketing tools thatthe firm uses to pursue its marketing objectives inthe target market.

Further it can be classified into 4 Ps

Ps of marketing: product, price, place, andpromotion.


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The 4 Ps & 4Cs

Marketing

Mix

Product

Price Promotion

Place

Customer

Solution

Customer

Cost

Communication

Convenience


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Difference Between - Sales &

Marketing ?

Salestryingto get the customer to want(to

purchase) what thecompanyproduces

Marketingtrying to get the company produce what the

customer wants


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Selling focuses on the needs of the seller

Marketing on the needs of the buyer

Selling is preoccupied with the sellers need toconvert his product into cash.

Marketing with the idea of satisfying the needsof the customer by means of the product and thewhole cluster of things associated with creating,delivering and finally consuming it.


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The market ing con cept rests on four

pi l lars: target market, customer needs ,

integrated marketing , and prof i tabi l i ty.

The sel l ing concept takes an inside-ou t

perspect ive. It s tarts w ith the facto ry,

focuses on exist ing p rodu cts, and callsfor heavy sel ling and p romot ing to

produce pro f i table sales.


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The market ing concep t takes an

ou ts ide-in perspect ive. It s tarts

w ith a wel l-def ined market,focuses on cus tomer needs ,

coord inates act iv i t ies that affect

customers, and produces p rof i tsby sat is fy ing customers.


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ScopeWhat do we

market Goods

Services

Events

Experiences Personalities

Place

Organizations

Properties

Information

Ideas and concepts


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Core Concepts ofMarketing

Based on :

Needs, Wants, Desires / demand

Products, Utility, Value & Satisfaction

Exchange, Transactions & Relationships

Markets, Marketing & Marketers.


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In order to understand Marketing let us beginwith the Marketing Triangle

Customers

CompetitionCompany


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Who is a Customer ??

Anyone who is in the market looking at a product /

service for attention, acquisition, use or consumption

thatsat isf iesa want or a need

CUSTOMER IS . . . . .


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Customer

CUSTOMER has needs, wants, demands anddesires

Understanding these needs is starting point of theentire marketing

These needs, wants arise within a frameworkor an ecosystem

Understanding both the needs and the ecosystem isthe starting point of a long term relationship


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Customers - ProblemSolution

As a priority , we must bring to our customers WHAT

THEY NEED

We must be in a position toUNDERSTANDtheir problems

Or in a new situation to give them a chance toAVOIDthe

problems


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Customer looks forValue

Value = Benefit / Cost

Benefit = FunctionalBenefit + Emotional

Benefit

Cost = Monetary Cost + Time Cost +Energy Cost + Psychic Cost


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Why a product like radio

declined and now once again

emerging as an entertainmentmedium ?


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What Were the Drivers of This

Change?Technology ?

Government policy ?

Other mediasubstitutes ?


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Why Market Leaders Suffered

?HMT vs. TitanHLL vs. Nirma

Bajaj vs. HondaDot.com boom, then bust and now resurgence

Market leadership today cannot be taken for

granted.New and more efficient companies are

able to upstage leaders in a much shorter period.


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The Give and Get of Marketing


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What Changed in Marketing

Organize by product units Focus on profitable transactions Look primarily at financial scorecard Focus on shareholders Marketing does the marketing Build brands through advertising Focus on customer acquisition No customer satisfaction

measurement Over-promise, under-deliver

Organize by customer segments Focus on customer lifetime value Look also at marketing scorecard

Focus on stakeholders Everyone does the marketing Build brands through performance Focus on customer retention Measure customer satisfaction and

retention rate

Under-promise, over-deliver

Old Economy New Economy


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Are Banks truly

marketing-savvy andcustomer - centric?


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Myth 1The larger the range of products, the morecustomer-centric I am.

Mythbuster The range of products has

emerged from being

compet i t ion-centr ic .


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Myth 2Better technology (read CRM) leads to

better customer service.

Mythbuster Technology

alone does no t deliver,

helps people do.


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Myth 3Launch a product and the customer will start

using instantly. - Give a customer a card and he will learn how to play

with it immediately

Mythbuster Customers need

To be educated too


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Mythbuster Customers

are no t on ly present

where compet i t ion is.

Myth 4The only way to get a customer is from

competition.


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Myth 5Just advertise and - You will sell.

Mythbuster Advert is ing w i l l only sel l ,

Not retain cus tomers.


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Myth 6No difference between marketing & selling

Mythbuster Selling focuses on the needs of the

sel ler; market ing on the needs of the buyer.


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Myth 7In the absence of relationshipstrust buildsfinancial brands

Mythbuster Trust is not a differentiator at all

i t is the very m inimum that the customer expects! !


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The real differentiator of

customer centricity in a

commoditised world of financialproducts -

Customer Service !


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Thank You

1.makrtng-useful.ppt

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