CBB Answers

 
Characteristics of a good marketing manager
1. A Vision Creator
Great marketing managers are vision creators. One of the most important steps in
introducing a product or service successfully to the marketplace is to create a ​clear, focused
concept​ of their product or service. To accomplish this, marketing managers must be able to
wade through the products or services that their company sells, find its edge in the
marketplace, and simplify its features and benefits so that they are easily understood. They
don't necessarily need to create the exact words used in the pitch, but it is important for them
to be able to communicate the vision clearly to others
Steven Jobs and the Apple iPod are a brilliant example of packaging a focused vision and
attacking the marketplace with it. Even though the iPod is basically a typical PDA with the
capacity to play music (it has a calendar, phone book, and alarm clock like most PDAs),
they’ve distinguished themselves by packaging the product to reflect a cool, hip lifestyle and
sold for two to three times what a Palm Pilot goes for
2. A Strong Ego
This is not to say that a marketing manager should be an island. Effective and
successful marketing managers listen to people inside and outside of the company. They
listen to their customers, co-workers, senior management, and salespeople. By having their
ears open, marketing managers better understand the marketplace. But at the same time, they
must have strong enough self-confidence to wade through the varying opinions, make up
their own mind as to the direction to head, and be able to say, "This is where we're going,
follow me!"
Sam Walton, the late founder of ​Wal-Mart​, was a great example of this type of person. Those
with him in the early days describe him as impervious to failure. When a particular campaign
was less than effective, he was the first person on Monday morning to say, “Well that didn’t
work. What’re we doing this week?” He had a vision for the company for the future and
wouldn’t accept anything less.
3. An Artistic Eye
All the great marketing managers that I have worked with have an artistic eye. Most
of the communication that happens between the marketplace, prospects, and the company is
visual. However, the marketing manager's role is NOT to create the visual elements. Good
marketing managers let those who have been trained in design and presentation do this.
However, it's important that they have a good sense of visual style -- especially within their
market
E.g Steve Jobs
4. Understands Their Market and Their Customers
Good marketing managers need to have a very strong understanding of what is
happening in the marketplace and what influences people's buying decisions. When a
marketing manager misunderstands the customer or the reasons why they purchase a product
or service, the marketing strategy will be off-target. If they don't know why consumers buy
their product, then the marketing strategy they create will be ineffective. I've seen this happen
a number of times.
E.g. Nitin Paranjape, HUL
5. Understands the Fundamentals of Branding, Marketing, and Advertising
Should a marketing manager not understand the basics of advertising, creating
consistently effective campaigns is near impossible. One of the mistakes most often made in
these cases is marketing to customers with campaigns built around features or proofs of the
product or service, instead of the benefits. Unfortunately for them, it’s the ​benefits​ that sell,
so they never truly reach the prospect. The prospect is simply left asking, "Why should I care
about this stuff?
For example: Anti-lock brakes are not a ​benefit​ when buying a specific car, they are a feature.
The specifications for the brakes may be ​proof​ to the prospect that the brakes will actually
work in the manner they were designed. The ​proof​ of this may include technical literature, or
supporting advertising that explains how anti-lock brakes work. The ​benefit​ in this example
(which is at the heart of any good marketing program) is that the brakes will not lock up,
allowing you to stop more quickly, under control, and NOT DIE. Living is the benefit!
6. A Big Picture Manager, Not a Micro-Manager
Great marketing managers paint a big picture, defining the box for their subordinates,
vendors and team members. Effective marketing managers are always looking at the big
picture. They work at and refine the vision, and don't allow themselves to become distracted
by the details.
E.g. Bill Gates
7. A Loose Planner
Great marketing managers cannot function without a plan. However, taking the time
to outline every detail of that plan, and then follow those details to the letter is
counterproductive and extremely time consuming. It also distracts them from the true task of
leading the company towards the marketplace with a vision. The biggest problem with
creating an incredibly detailed plan is that it tends to lack the spontaneity that market forces
create, and ignores the reality of creative people and ideas
8. A Master of Internal Company Politics
Internal issues and fear amongst colleagues, senior management, or the marketing
manager's direct supervisor can damage or destroy a marketing program. Over the years I
have seen conflicts between marketing managers and their superiors (or subordinates) cripple
companies. Companies have failed because the marketing people couldn't navigate the
internal politics of their company.
Successful marketing managers find ways to generate internal enthusiasm for their marketing
programs. Great marketers find ways to include the sales team in their vision. Sometimes the
marketing manager even needs to target their superior (CEO, President, Owner, etc.) and
educate (sell) them on important issues so they can get the financial backing they need to
carry out a successful program.
9. In Control of the Budget
Give own gas.
An analogy would be taking a dog for a walk without a leash. The marketing/design group
represents the dog (appropriate, I think). Without a leash, the dog will run everywhere and the
owner may not reach their destination. For this reason, we don’t typically work on projects
under this scenario.

10. A Love of the Process

A great marketing manager loves the marketing process-- the uncertainty of it all. Is this the
right vision? What do my customers really need? Are we providing what they want? Good
marketing managers love making bold statements and leading a team into battle. They love
diving into the marketplace, delegating tasks, taking risks and seeing the outcome.

What is Customer Behaviour?

Consumer behavior​ involves the psychological processes that consumers go through in

recognizing needs, finding ways to solve these needs, making purchase decisions (e.g.,
whether or not to purchase a product and, if so, which brand and where), interpret
information, make plans, and implement these plans (e.g., by engaging in comparison
shopping or actually purchasing a product).
Sources of influence on the consumer​. The consumer faces numerous sources of influence.

How to conduct a good market research

What is market research?

Market research is a way of gaining valuable information that can be used to evaluate
your company or new product or service's chance of success.​ ​There are five basic questions
you should begin with:
● Who are the customers?
 ● What does the customer need?
● What is my competition?
● What are the gaps in the market?
● Do they like my product? (test marketing)
Before you begin to gather the data you require, you should first have an idea of the type of
information you can gather, and how this may be of benefit to you. There are two types of
market research: quantitative and qualitative.

Quantitative research
This form of market research produces numerical data. It can be used to determine the size of
a market, how much it is worth and where the specific growth areas lie. Quantitative research
can also provide you with an understanding of who your customers are or will be: their age,
gender, location etc.
Qualitative research
Although it does not provide numerical data, qualitative research can help you understand the
attitudes and beliefs of your customers. There are often no set questions involved, instead
participants are presented with topics, problems or possibilities to consider. It is ideal for
generating or developing ideas, testing reactions to advertising or branding and pinpointing
gaps in the market.
● Set your aims. First decide exactly what you want to know. For example, are you looking for customer
reactions to service or do you want to assess future buying intentions? This requires more open or
leading questions.
● Design the survey. Whether written or conducted by phone, a questionnaire must have unambiguous
questions, a clear flow, and be easy to respond to. Think about the key areas on which you’d like
feedback. Consider each question carefully and avoid overloading the survey with too many questions
or choices.
● Make your survey user-friendly. Although tick-boxes are easier to analyse and compare, written
responses give more depth. For qualitative questions, use even numbers of tick boxes to prevent
people plumping for the middle one.
● Do a dummy run. Test a draft on several people to see if they understand the questions the way you
intended them.

How many people should I ask?

Increasing response levels
Telephone survey
Get more for your money
Prepare properly
Show your gratitude
Interpreting the responses

Role of Teachers / Students / Adolescents / Housewives / Retired Old people / Children in

Buying Decisions
I am giving egs. You can build up on it
Teachers​: Teachers explain importance of Hygiene in class and tells students to wash hands
before use and brush twice. E.g. Dettol, Colgate
Students​: Notebooks, pens
Adolescents​: (For those like me who don’t know the meaning of this word, its teenager)
Products like deodorants, fashion clothes
Housewives​: consumer durables like edible oils, staple foods, soaps, utensils
Retired Old people​: life insurance, mobile for old people (i—ball),
Children: ​Confectionery​, ​biscuits

What is Consumer Adoption process?

Adoption is an individual’s decision to become a regular user of a product.
Sequence of events beginning with consumer awareness of a new product leading to trial
usage and culminating in full and regular use of the new product. Over time the adoption
process resembles a bell curve formed by innovators, early adopters, the majority of
consumers, late adopters, and laggards.
The consumer-adoption process focuses on the mental process through which an individual
passes from first hearing about an innovation to final adoption. Adopters of new products
have been observed to move through five stages:
1. ​Awareness ​-The consumer becomes aware of the innovation but lacks information about it.
2. ​Interest-​The consumer is stimulated to seek information about the innovation.
3​. ​Evaluation -​ The ​consumer considers whether to try the innovation.
​ he c​ onsumer tries the innovation to improve his or her estimate of its value.
4. ​Trial-T
5. ​Adoption ​-The consumer decides to make full and regular use of the innovation.
E.G
The new-product marketer should facilitate movement through these stages. A portable
electric dishwasher manufacturer might discover that many consumers are stuck in the
interest stage; they do not buy because of their uncertainty and the large investment cost. But
these same consumers would be willing to use an electric dishwasher on a trial basis for a
small monthly fee. The manufacturer should consider offering a trial-use plan with option to
buy.
IPods, DVD players

What is Industrial Buying Behaviour? How is it different from

Consumer Buying Behaviour?
Give gas on B2B -> Customer is more knowledgeable etc.
Key differences between Consumer and organization buying
Different decision-making procedures
There are also more people involved in purchasing decisions, and within the organisation
there may be formal policies and procedures that must be followed

Derived demand
In industrial markets, demand for goods is ultimately derived, in that it depends on the
demand for what the buyers are producing. This means that marketers need to pay attention to
the markets served by their customers

Professional buyers
Purchasing activity is undertaken by professionals who have access to more information than
do consumers. This means that marketing to businesses may be more reliant on technical
specications and the salespeople themselves may need to be more technically aware.

Role of Communication in Advertising / Marketing

Give your own gas
Promiscuous Customer / Detached Customer / Loyal Customer /
Extravagant Customer
Detached Customer
Customer who is detached from daily contact and his purchases and who has left his loyalty
to your brand or the product
Promiscuous Customer
(Note: When I looked meaning of this word, I got following definations
Not selective of a single class or person
Casual and unrestrained in sexual behaviour
Its up to you to choose ;) )
Its not brand savvy, loyal to any brand
Loyal Customer
No need of any explanation
Extravagant Customer​:
Unrestrained, especially with regard to feelings, recklessly wasteful

Characteristics of a Customer of a High End Electronic Gadget

You can draw a nodal diagram

Create persona
Give traits like tech savvy, internet savvy, lives fast life etc.
Strategic Account Management
SAM is a management approach adopted by selling companies aimed at building a portfolio
of loyal strategic customers
By offering them on a long term basis, a service/product offering tailored for their specific
needs
It is a progression towards a form of ‘partnership’ or alliance with major customers
characterised by joint decision making and problem solving, integrated business processes
and collaborative working across buyer-seller boundaries, described as a process of
‘relational development’.
Basics of SAM
● Select the right accounts
● Define the value proposition
● Conduct needs assessments
● Create account action plans
 ● Present findings to the client (verify the plan)
● Deploy cross-functional teams
● Implement the plans
● Summarize results for senior leadership to make long term strategic decisions
Risks and failures
Relationships must be reciprocated and appropriate
 Common mistake is to assume that the customer want to have close, partnered
relationships with their suppliers
 Many companies do not do business on this basis at all; instead their purchasing
professionals reduce all supply decisions down to transactions based on trading off quality
with price, and flexing market power to obtain the best result.

Large customers are not always the best customers

 Assumption that the biggest revenue earners are the most profitable is false, and that great
care must therefore be taken to before committing substantial resources to large companies
who demand great service at lower cost.
 Research has found that often the most profitable customers are often just below those that
generate the largest revenue.

Benefits
1. Strategic Account Management -> Take account management to next level
2. Customers -> Service for life
● Build long term strategic relationships with customers
● Retention of strategic customers - more cost effective to retain customers
● Spot new opportunities and generate new business
● Increased consultancy provides the hook for increased downstream activities
3. Internal Integration / Consolidation
● Break down internal boundaries and reduce silos
● Use as part of a Company standard to manage consultancy client relationships
with major customers
● Effectively manage and focus resources aligned to Company strategy