Advance Marketing Management

Advance Marketing Management

STD :- T.Y.B.B.A. 6th Semester (Marketing)
NO. 1 2 3 4 5 6 7 8 9 10 CHAPTER NAME WEIGH TAGE 15% 5% 15% 10% 10% 10% 10% 10% 5% 10%

Marketing Information System & Measuring Market Demand Marketing Management Process Segmentation , Targeting , Positioning Developing Product Strategy Marketing of Services Principles of Personal Selling Rural Marketing International Marketing Direct Marketing Latest Trends in Marketing

Prepared By Tarun Patel

Prepared By Tarun Patel

Advance Marketing Management

Chapter :1 Marketing Information System & Measuring Market Demand Meaning- MIS :-

A Marketing Information System MKIS consists of people, equipment and procedures to collect, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers. Marketing Intelligence : A Marketing Intelligence system is a set of procedures used by managers to obtain everyday information about development in marketing environment.

Need and Importance of MIS :-

(1) Anticipation of consumer demand. (2) Anticipation of marketing. (3) Changing demand and supply. (4) Competition. (5) Technical Development. (6) Consumerism. (7) Information explosion.

Sales Potential :-

Sales potential is the sales limit approached by company demand as company marketing effort increase relative to that of competitors.
Market Potential :Market potential is the limit approached by market demand as industry marketing expenditures approach infinity for a given marketing environment.

Components of MIS :(2) Marketing Intelligence System.

(1) Internal record system. (3) Marketing Research.

(4) Marketing Decision Support System. (M.D.S.S.)

Prepared By Tarun Patel

Advance Marketing Management

(1) Internal record system.

The order to payment cycle. Sales information system. Databases, data warehouses and data mining.

(2) Marketing Intelligence System.

Train and motivate sales force. Motivate distributors and intermediaries. By purchasing competitors. Purchase information from outside. Setup customer advisory panel. Circulate marketing intelligence.

(3) Marketing Research.

Marketing Research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company. (1) Suppliers marketing research. (2) The Marketing Research Process. i. ii. iii. iv. v. vi. Define the problem & Research objectives. Develop research plan. Data sources. ( Primary data , Secondary data ) Research approaches. ( observational , focus , survey , experimental research. ) Research instruments. (questionnaire , psychological tools ) Sampling plan. ( sampling unit , sample size , sampling procedures ) Contact methods. ( mail questionnaire , personal interview ) Collect the information. Analyze the information. Present the findings. Make the decision.

(4) Marketing Decision Support System. (M.D.S.S.)

A coordinate collecting of data system, tools and techniques with supporting software and hardware by which as organization gathers and interprets relevant information from business and environment and turns it into a basis for marketing action.
Prepared By Tarun Patel

Advance Marketing Management

Chapter : 3 Segmentation , Targeting , Positioning 1) Segmentation : The process of dividing the market into homogeneous groups has similar need based on some variable is known as segmentation.

Levels of market segmentation :(4) Individual customer Marketing (5) Self Marketing.

(1) Mass Marketing. (2) Niche Marketing. (3) Local Marketing.

Steps of Market Segmentation :(1) Needs based segmentation. (2) Segment Identification. (3) Segment Attractiveness. (4) Segment Profitability. (5) Segment Positioning. (6) Segment Acid test (7) Marketing mix Strategies.

Bases for market Segmentation :-

1) Consumer Market :- Geographic Segmentation. ( Region , City size , Density ) - Demographic Segmentation. ( Age , Gender , Income , Religion , Generation , Social class ) - Psychographic Segmentation. ( Life style , Personality , values ) - Behavioral Segmentation. ( Benefits , User status , Usage rate , Loyalty status , Attitude ) - Multi Attribute Segmentation. - Targeting multiple Segmentation. 2) Business Market :- ( Refer from notes )
Prepared By Tarun Patel

Advance Marketing Management

2) Targeting :Once the company has completed the segmentation of the market it will have to select one or more segment. Selecting and producing the product for this segment is known as targeting. Evaluating & selection of target marketing refer from notes.. Segment -by - segment invasion plan also refer from notes

3) Positioning : Positioning is an act of designing the companys effort and image so that they occupy a meaningfully and distinct position in the mind of the target consumers. Differentiation : Differentiation is an act of designing a set of meaningful differences to distinguish the companys offer from competitors offer.

(A) Product Differentiation :- Form. - Features. - Performance Quality. - Conformance Quality. - Durability. - Reliability. - Reparability. - Style.

(B) Service Differentiation :- Easy ordering. - Delivery. - Installation. - Customer Training. - Customer Consulting. - Maintenance and repair.

(C) Personnel Differentiation :- Competence. - Courtesy. - Credibility. - Reliability. - Responsiveness. - Communication.

(D) Image Differentiation :- Symbols,colors,slogans. - Physical plant. - Events & Sponsorships. - Using multiple image building techniques.

(E)Channel Differentiation :-

Prepared By Tarun Patel

Advance Marketing Management

Chapter : 4 Developing Product Strategy Product Life Cycle (PLC) Strategy :(1) Introduction : A period of slow sales growth as the product is introduced in the market. Profits nonexistent because of the heavy expenses incurred with product introduction. (2) Growth : A period of rapid market acceptance and substantial profit improvement. (3) Maturity : A period of slowdown sales growth because the product has achieved acceptance by most potential buyers. Profit decline because of increased competition. (4) Decline : The period when sales slow a downward drift and erode.

1) Introduction Stage :
Characteristics : This the stage when a new product is just introduced in the market. The sales growth tend to be slow. There are heavy distribution and promotional expenses. Hence cost is more. The profit are either negative or very less because of higher costs. A distribution network is still to be setup. Strategies : Rapid skimming strategy. Slow skimming strategy. Rapid penetration strategy. Slow penetration strategy.

2) Growth Stage : I. It improves product quality and adds new features and improved styling. II. It adds new models and flanker produces. III. It enters new market segments. IV. It increases its distribution coverage and enters new distribution channels. V. It shifts from product awareness advertising to product- preference advertising. VI. It lowers prices to attract the next layer of price sensitive buyers.
3) Maturity Stage :

I. II. III.

Market Modification. Product Modification. Marketing Mix Modification. 1. Prices. 4. Sales promotion. 2. Distribution. 5. Personal selling. 3.Advertising. 6. Services.
Prepared By Tarun Patel

Advance Marketing Management

4) Decline Stage : Characteristics :There is a decline in a sales. Because of technological customer preference change. Profit also decline due to decline in sales. Companies reduce their promotion budget and reduce their price further. Some companies may withdraw from smaller market segment. Strategies :I. Increasing the firms investment. II. Maintaining the firms investment level until the uncertainties about the industry are resolved. III. Divesting the business quickly by disposing of its assets as advantageously as possible IV. Harvesting the firms investment to recover cash quickly. V. Decreasing the firms investment level selectively, by dropping unprofitable customer groups.

New Product Development Process :-

(1) Idea generation.

i) Interacting with others. ii) Creativity Techniques. Attribute Listing , Mind mapping, new contexts , Forced relationship. (2) Idea screening. ( Drop error , Go error )

(3) Concept development and Testing.

- Concept Development. - Concept Testing. - Conjoint Analysis. (4) Marketing Strategy. - Market size, Structure, Sales, Market share, and Profit goals. - Price, Distribution Strategy and Marketing budget for the first years. - Long run sales and profit goals and Marketing mix Strategy. (5) Business Analysis. - Estimating Total Sales. - Estimating costs and profits. (6) Product Development.

(7) Marketing Testing.

- Selection of test market. - Time of test marketing. (8) Commercialization.
Prepared By Tarun Patel

Advance Marketing Management

Chapter : 5 Marketing of Services Meaning of Services : A service is any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Characteristics / Features of Services :(1) Intangibility. (2) Inseparability. (3) Variability. (4) Perishability. Marketing Strategy for Service Firm :(1) Three Additional Ps :1) People . 1) Offering. 2) Physical Evidence. 2) Faster & Better delivery. 3) Process. 3) Image.

(2) Managing Differentiation :(3) Managing Differentiation :1) Strategic Concept. 2) Top management commitment. 3) High standards. 4) Self Service Technologies. ( SSTS ) 5) Monitoring Systems. 6) Satisfying customer complaints. 7) Satisfying employees as well as customer.

(4) Managing Productivity :1) Have service providers work more skillfully. 2) Increase the quantity of service by surrendering some quality. 3) Design a more effective service.

Various Service Gaps :Gap between Gap between Gap between Gap between Gap between consumer expectation and management perception. management perception and service quality specification. service quality specification and service delivery. service delivery and external communication. perceived service and expected service.
Prepared By Tarun Patel

Advance Marketing Management

Chapter : 6 Principles of Personal Selling Sales Professionalism / Process of personal selling :(1) Prospecting and Qualifying. (2) Pre-approach. (3) Presentation & Demonstration. (4) Over coming objections. (5) Closing. (6) Follow-up and Maintenance.

Negotiation : Negotiation is an act performed by both the parties. It also means exchange. Relationship marketing : Actions taken by the company in winning a long term relationship with the buyers are called as relationship marketing.

Steps Establishing Relationship Marketing Programme.

1. Identify the key customers. 2.Assign a skilled relationship manager to each. 3.Develop a clear job description for relationship manager. 4. Appoint a manager to supervise the relationship manager. 5.each relationship manager must develop plans.

Importance of relationship marketing :1.Helps to know customer need and there fulfill it. 2. Customer loyalty increase. 3.Easily know customers difficulty. 4. Word of mouth. 5. New relationship. 6. Additional benefits.
Prepared By Tarun Patel

Advance Marketing Management

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Chapter : 7 Rural Marketing Meaning : The study of rural marketing consist of all the operation involved in the movement of farm produce food, raw materials etc from the farms to the final consumers.

Characteristics / Features :1. The income is seasonal in nature. 2. Geographically Scattered. 3. Language, Regional , Cultural difference. 4. The market is under developed. 5. Largely Agricultural oriented.

Importance :-

1. Increasing competition in urban markets. 2. Socio economic changes in rural markets. 3. Rise in rural prosperity. 4. Better developed infrastructure facilities. (Transport system, Rural electrification.)

Problems :8. Market segmentation in rural area. 9. Branding. 10. Packing.

1. Transportation. 2. Communication. 3. Availability of appropriate media. 4. Warehousing. 5. Village structure in India. 6. Rural markets & Sales manager. 7. Inadequate banking & Credit facilities.

Marketing Strategies in Rural Marketing : Product Strategies :Price Strategies :(A) Low cost or cheap products. (B) Avoid sophisticated package. (C) Refill packs & Reusable packs. (D) Application of valued engineering.

(A) New product designs. (B) Brand Name. (C) Small unites package. (D) Low price packaging. (E) Sturdy product.

Distribution Strategies :(A) Use of co-operative societies. (B) Use of public distribution system. (C) Agriculture input dealer.

Promotion Strategies :-

Prepared By Tarun Patel

Advance Marketing Management

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Chapter : 8 International Marketing

Meaning : International marketing is the performance of business activities that is responsible for the flow of good/service to consumer in more than one country. Domestic Marketing v/s International Marketing :(1) Difference in political system. (8) Difference in marketing infrastructure. (2) Different in legal system. (9) Cultural Differences. (3) Difference monetary system. (10) Economic Differences. (4) Different in markets characteristics. (11) Differences in language. (5) Difference in procedure and documentation. (12) Distance. (6) Difference in trading practices. (7) Difference in trading currency. Problems & Risk of International Marketing :(1) Political & differences. (2) Cultural differences. (3) Economic differences. (4) Differences in the currency unit. (5) Differences in the Language. (6) Differences in the marketing infrastructure. (7) Trade restrictions. (8) High cost of distances. (9) Differences in trade practices. Orientation Towards International Market :-

Chapter : 9 Direct Marketing

Meaning : Direct Marketing is the use of consumer direct channels to reach and deliver goods and services to customers without using marketing middleman. Database Marketing :-

Database : A customer database is an organized collection of current data about

individual customer products for the purpose of marketing customers relationship and for the sales of product or services.

Database Marketing : Database Marketing is the process of building, maintaining and using customer database and other database products,retailers,suppliers etc for the purpose of contacting and transacting.
Prepared By Tarun Patel

Advance Marketing Management

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Chapter : 10 Latest Trends in Marketing Reengineering : Reengineering is a process of appointing tips to manage customer value building processes & trying to break down walls between department. Out sourcing : Out sourcing is a process in which the company has greater willingness to buy more goods & services from outside belabors when they can be obtained more cheaply & better this way. Customer Share : The percent of those who purchase the item of interests from the given form is known as customer share. Benchmarking : Benchmarking is a process in which a firm studies the best practice companies to improve their own performance. Market space : Market space is digital in nature when can include shopping on the internet also, today a lot of shopping has shifted from marketplace to market space. Marketplace : the marketplace is physical as when one goes shopping in a store. Meta market : Concept of meta market describes a cluster of complimented products & services that are closely related in the minds of customer but are spread across the diverse set of industries. Multi Attribute segmentation (GEO clustering): Marketers no longer talks about the average consumer or only few market segments rather, they are increasingly combining several variables in an afford to identify smaller better define target groups. Integrated Marketing : Integrated direct marketing means recognizing the importance of advertising, sales promotion, public relation & direct marketing to prepare a overall

Prepared By Tarun Patel