what are important trends in marketing practices?
TRANSCRIPT
What are the important
trends in marketing
practices?
By,Anurag KarB.Tech. StudentDepartment of E and ECEIIT Kharagpur
Based on Chapter 21: Managing a Holistic Marketing Organisation for the Long Run
OfMarketing Management: A South Asian
PerspectiveBy Kotler, Keller, Koshy and Jha
Consumers have become more
DISCRIMINATING.
This results is increase in
Competition.
As the general awareness about environmental degradation improves…
Marketers have to act more responsibly.
Consumers have now adopted the ideology of…
LESS
is
MORE
Companies can’t win by standing still.
Balsara Hygiene
Failure by these firms recently…
And the success of these firms…
Show that consumers want firms to invest in
improving their offerings by finding new ideas.
Marketers must work closely with…
Marketers must work closely with…
Product Development
R&D
Sales Force
Finance
Manufacturing
Logistics
To satisfy the customers fully and to establish a value creation mind set in the organization.
Some important shifts in
marketing and business practices
are…
Reengineering
Appointing teams to customer value building processes and break down walls between
departments.
Buying more goods and services from outside domestic
or foreign vendors.
ReengineeringOutsourcing
Studying “best practice companies” to improve
performance.
ReengineeringOutsourcing
Benchmarking
Partnering with fewer but better value adding suppliers.
ReengineeringOutsourcing
Benchmarking
SupplierPartnering
Working more closely with customers to add value to their
operations.
ReengineeringOutsourcing
Benchmarking
SupplierPartneringCustomer
Partnering
Acquiring or merging with firms in the same or
complementary industries to gain economies of scale and
scope.
ReengineeringOutsourcing
Benchmarking
SupplierPartneringCustomer
PartneringMerging
Increasing efforts to “think global” and “act local”.
ReengineeringOutsourcing
Benchmarking
SupplierPartneringCustomer
PartneringMerging
Globalizing
Reducing the number of organizational levels to get
closer to the customer.
ReengineeringOutsourcing
Benchmarking
SupplierPartneringCustomer
PartneringMerging
Globalizing
Flattening
ReengineeringOutsourcing
Benchmarking
SupplierPartneringCustomer
PartneringMerging
Globalizing
Flattening
Focusing
Determining the most profitable businesses and
customers and focusing on them.
ReengineeringOutsourcing
Benchmarking
SupplierPartneringCustomer
PartneringMerging
Globalizing
Flattening
Focusing Justifying
Becoming more accountable by measuring, analysing and documenting the effects of
marketing actions.
ReengineeringOutsourcing
Benchmarking
SupplierPartneringCustomer
PartneringMerging
Globalizing
Flattening
Focusing Justifying Accelerating
Designing the organization and setting up processes to respond more quickly to
changes in the environment.
ReengineeringOutsourcing
Benchmarking
SupplierPartneringCustomer
PartneringMerging
Globalizing
Flattening
Focusing Justifying Accelerating
Empowering
Encouraging and empowering personnel to produce more
ideas and take more initiative.
ReengineeringOutsourcing
Benchmarking
SupplierPartneringCustomer
PartneringMerging
Globalizing
Flattening
Focusing Justifying Accelerating
EmpoweringBroadening
Factoring the interests of customers, employees, shareholders, and other
stakeholders into the activities of the enterprise.
ReengineeringOutsourcing
Benchmarking
SupplierPartneringCustomer
PartneringMerging
Globalizing
Flattening
Focusing Justifying Accelerating
EmpoweringBroadeningMonitoring
Tracking what is said online and studying customers, competitors, to improve
business practice.
ReengineeringOutsourcing
Benchmarking
SupplierPartneringCustomer
PartneringMerging
Globalizing
Flattening
Focusing Justifying Accelerating
EmpoweringBroadeningMonitoring
Thank You!
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Based on “Marketing Management: A South Asian Perspective”By Kohler, Kelter, Koshy and Jha