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MBA
MODULE 1
RIDDHI TAMBI
What is Marketing…??
Selling?
Advertising?
Promotions?
Making products available in stores?
Maintaining inventories?
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Marketing = ?
3
Marketing = ?
4
Simple Marketing System
Communication
Goods/services
Industry Market
(a collection (a collection
of sellers) of Buyers)
Money
Information 7
Scope – What do we market
Goods
Services
Events
Experiences
Personalities
Place
Organizations
Properties
Information
Ideas and concepts
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Goods: The bulk of most countries production and marketing efforts and include
physical goods such as
cars, fridges and TVs.
Events: Time-based events such as trade shows, the theatre and global events such as
the world sporting events.
Experiences: Organisations create, stage and market experiences e.g. Walt Disney’s
Magic Kingdom which is experiential marketing.
People: Celebrity marketing is a major business in which high profile celebrities such
as actors, musicians
and sports stars are used to endorse products or services.
Places: Cities and provinces are marketed to attract tourists, business and new
residents. Think of Las
Vegas, a city in the middle of a desert, how was that marketed?
Ideas:
Difference Between - Sales & Marketing ?
Sales
trying to get the customer to want what the
company produces
Marketing
trying to get the company produce what the
customer wants
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Core Concepts of Marketing
Based on :
Needs, Wants, Desires / demand
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Core Concepts of Marketing
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Core Concepts of Marketing
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In order to understand Marketing let us begin with the
Marketing Triangle
Customers
Company Competition
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Who is a Customer ??
CUSTOMER IS . . . . .
Anyone who is in the market looking at a product / service for attention,
acquisition, use or consumption that satisfies a want or a need
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Customer –
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How Do Consumers Choose Among
Products & Services?
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Customers - Problem Solution
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Customer looks for Value
Value = Benefit / Cost
Benefit = Functional Benefit + Emotional
Benefit
Cost = Monetary Cost + Time Cost +
Energy Cost + Psychic Cost
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Definition of Market
The term market is defined as a place where the parties meet and exchange
their goods, services and information for consideration. The purchase and
sale of commodities between parties are known as the transaction. The two
parties engaged in an exchange are buyer and seller. The transaction can
proceed, either directly or through intermediaries like agents or institutions.
There are numerous buyers and sellers in a market; that plays a significant role
in fixing prices of goods and services. The buyers decide the demand,
whereas sellers determine the supply. It is a set up where trade is easily
concluded, and resources are allocated, among different members of the
society.
Definition of Marketer
A person whose duties include the identification of the
goods and services desired by a set of consumers, as
well as the marketing of those goods and services on
behalf of a company.
MARKETING
MANAGEMENT
MODULE –II
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Marketing Environment
According to Philip Kotler, marketing environment refers
to “external factors and forces that affect the
company’s ability to develop and maintain successful
transactions and relationships with its target
customers”.
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Marketing Environment
All the actors and forces influencing the company’s
ability to transact business effectively with it’s
target market.
Includes:
Microenvironment - forces close to the company
that affect its ability to serve its customers.
Macro environment - larger societal forces that
affect the whole microenvironment.
The Marketing Environment
Demographic
Company
Cultural Economic
Publics Suppliers
Company
Competitors
Customers
Political Natural
Intermediaries
Technological
The Microenvironment
Company
International Consumer
Markets Markets
Company
Government Business
Markets Markets
Reseller
Markets
The Macroenvironment
Demographic
Geographic Shifts
Moving to the Sunbelt and suburbs (MSA’s)
Increased Education
Increased college attendance
and white-collar workers
Economic Changes
Development Key in Income
Economic
Concerns for
Marketers
Changes
in Consumer
Spending
Patterns
Natural Environment
More Government
Intervention
Factors
Affecting
Higher Pollution the Shortages of
Levels Natural Raw Material
Environment
Increased Costs
of Energy
The Company’s
Macroenvironment
Increased Changing
Legislation Key Enforcement
Trends in the
Political
Environment
Greater
Concern for
Ethics
Cultural Environment
Of
Oneself
Of Of
the Universe Views Others
That Express
Of Values Of
Nature Organizations
Of
Society
Responding to the
Marketing Environment
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Extended Marketing Mix
Booms and Bitner
included three
additional 'Ps' to
accommodate trends
towards a service or
knowledge based
economy:
People
Process
Physical Evidence
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The Marketing Mix
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7Ps & 7Cs
The 7 Ps The 7 Cs
Organisation Facing Customer Facing
Price = Cost
Place = Convenience
Promotion = Communication
People = Caring
Processes = Co-ordinated
Physical Evidence = Confirmation 49
PRICE
PRICE
A product is only worth what customers are
prepared to pay for it. The price also needs to be
competitive, but this does not necessarily mean
the cheapest; the small business may be able to
compete with larger rivals by adding extra
services or details that will offer customers
better value for money. Your pricing must also
provide a profit. It is the only element of the
marketing mix that generate revenue,
everything else represents a cost.
Different parts of Pricing
Importance of:
knowing the market
elasticity
keeping an eye
on rivals
PRODUCT
PRODUCT
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Marketing
Information System
• Assess the information needs
(why the information is necessary, inf. Regarding to
external and internal market)
• Develop needed information
( observational survey , survey research, group interview,
personal contacts, questionnaire etc.)
• Analyze information
(evaluate the information properly)
• Distribute information
(to the, top level, managers, marketers )
Components of Marketing Information System MIS
The role of MIS is to identify (find out) what sort of information is required
by the marketing managers. It then collects and analyzes the information.
It supplies this information to the marketing manager at the right time. MIS
collects the information through its subsystems.
These subsystems are called components.
The four main components of Marketing Information System (MIS) are:
Internal Records,
Marketing Intelligence,
Marketing Research (MR), and
Marketing Decision Support System
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Internal records : The first component of MIS is ‘Internal Record’.
Marketing managers get lots of information from the internal-records of
the company. These records provide current information about sales,
costs, inventories, cash flows and account receivable and payable. Many
companies maintain their computerized internal records. Inside records
help marketing managers to gain faster access to reliable information
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Marketing research : The third important component of MIS is ‘Marketing
Research’. MR is conducted to solve specific marketing problems of the
company. It collects data about the problem. This data is tabulated, analyzed
and conclusions are drawn. Then the recommendations are given for solving
the problem. Marketing research also provides information to the marketing
managers
Marketing decision support system : The fourth component of MIS is
‘Marketing Decision Support System’. These are the tools which help the
marketing managers to analyze data and to take better marketing decisions.
They include hardware, i.e. computer and software programs. Computer
helps the marketing manager to analyze the marketing information. It also
helps them to take better decisions. In fact, today marketing managers
cannot work without computers. There are many software programs, which
help the marketing manager to do market segmentation, price fixing,
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advertising budgets, etc.
Features of Marketing Information System
Continuous System
• Permanent and continuous system of collecting information
Basic Objective
• To provide the right information at the right time to the right
people to help them take right decisions
Computer-Based System
• Uses computer, so is up-to-date and accurate
Future-Oriented
• Provides information for solving future problems
Features of Marketing Information System
Used by all levels
Sources
Helps in Decision-Making
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FUNCTIONS OF MARKETING
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Market
Information
Packaging,
Market
labelling and
Planning
branding
Customer Exchange
Support Functions
FUNCTIONS
OF
MARKETING
Physical
Risk Taking
Distribution
Product
Standardization
Designing and
and Grading
development
Financing
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Market Information: To identify the needs, wants and demands of the consumers and then
analyzing the identified information to arrive at various decisions for the successful marketing of
a firm’s products and services is one of the most important functions of marketing.
Market Planning: The market planning function covers aspects of production levels, promotions
and other action programmes.
Exchange Functions: The buying and selling are the exchange functions of marketing. They
ensure that a firm’s offerings are available in sufficient quantities to meet customer demands. The
exchange functions are supported by advertising, personal selling and sales promotions.
Product Designing and development: The product design helps in making the product attractive
to the target market.
Physical Distribution: The physical distribution functions of marketing involve transporting and
storing. The transporting function involve moving products from their points of production to
locations convenient for purchasers and storing function involve the warehousing products until
needed for sale.
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Standardization and Grading: Standardization involves producing goods at predetermined
specifications. Standardization ensures that product offerings meet established quality and
quantity. It helps in achieving uniformity and consistency in the output product.
Financing : The financing functions of marketing involve providing credit for channel members
or consumers.
Risk Taking: Risk taking is one of the important marketing functions. Risk taking in marketing
refers to uncertainty about consumer purchases resulting from creation and marketing of goods
and services that consumers may purchase in future.
Packaging, labeling and branding: packaging involves designing package for the products,
labeling means putting information required / specified on a product’s covering.
Customer Support: Customer support is a very important function of marketing. It involves pre
sales counseling, after sales service, handling the customer complaints and adjustments, credit
services, maintenance services, technical services and consumer information.
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STRATEGIC MARKETING
PLANNING
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STRATEGIC MARKETING
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STEP 1
GOALS AND OBJECTIVES: These are specific targets or end results an organization
intends to accomplish. For example, quality and innovativeness, market penetration,
sales growth, market share growth, profitability enhancement, customer loyalty etc.
Essentially, the goals should be SMART (specific, measurable (in quality and quantity),
achievable, reliable and time specific).
(objectives of Nike)
To increase the 3-4% profitability in each of its product lines (i.e. increasing sales
growth
by 10% annually)
• To produce quality and low cost products
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STEP 2
Environment Analysis-Pest Analysis
Political:
There are worker rights and employee laws which affect the Nike’s internal procedures
It has positive government policies which support it in increasing their growth
prospects especially in US.
Nike can take help from government as well as from foreign countries which have
favourable relationship with Nike in making the products.
Economic:
Nike can be the way in creating new jobs when their higher growth in economy
Due to economic downturn consumers can be affected and it can reduce consumer
confidence towards products of Nike
There can be risk of currency, interest rate and exchange rates for Nike’s product
Increasing material prices and labor cost in production countries or outsourcing for
increasing the living standards can also affect Nike’s product sales
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Social:
Consumers are becoming more loyal towards the brand and becoming brand
conscious that can be advantageous for Nike
Changes in life style- health awareness, sport participation which is increasing the
demand of sport products
Increasing market share of female customers can also be opportunity for Nike
Technological:
New technology affects Nike because it incorporates it in its products.
Through technology it makes highly innovative products as shoe construction/
design
It can create mobile app and different facilities and website from which customers
can do online shopping through new digital trends.
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STEP 3
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MARKETING
MANAGEMENT
MODULE III
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CONTENT
Definition
Importance of Market Segmentation
Need for Market Segmentation
Requirements of Market Segments
Classification of Market Segmentation
Benefits of Market Segmentation
Conclusion
DEFINITION
Specialise
Difference
Relevance and Significance
Accessibility
Size
Choosing a Segment
Benefits of market segmentation