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MARKETING
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CONTENTS Introduction to Marketing Marketing Environment Marketing Mix
Consumer Behavior Marketing Segmentation Marketing Management & Planning Product Life Cycle(PLC)
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CONTENTS 8. Channels of Distribution 9. Pricing 10. Advertising
11. Personal Selling 12. Sales Promotion 13. Branding, Packaging & Labeling 14. Marketing Research 15. Consumer Protection 16. Modern Marketing System
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1. Introduction to Marketing
the action of promoting and selling products or services. Concepts of Marketing Types of Marketing Functions of Marketing
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I. Concepts of Marketing
Exchange Concept Production Concept Product Concept Sales Concept
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II. Types of Marketing Marketing to Individuals
a. Convenience goods – newspaper, medicine, pen b. Shopping Goods – tv, ref,ac c. Speciality Goods – restaurant B. Marketing to Organization – machines, raw material
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III. Functions of Marketing
Marketing Research Product planning and Development Buying and Assembling Packaging and Labeling Standardization and Grading Branding Pricing Transportation Promotion
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India’s Best Marketing Service Provide
Hindustan Unilever ( Proctor and Gamble (
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2. Marketing Environment
Factors and forces outside marketing Ex:- seagate Components of ME PEST Analysis SWOT Analysis
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I. Components of ME Internal Environment Dept – HR, Finance and etc…
External Environment (A)Micro Environment - Company, Marketing Intermediaries, Customers, Public. (B)Macro Environment - Demographic, Social – Cultural, Economic, Political – Legal, Technological, Natural
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II. PEST Analysis P – Political Factors E – Economic Factors
S – Socio – cultural factors T – Technological factors
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III. SWOT Analysis INTERNAL S – Strength(advantage)
W – Weakness(disadvantage) EXTERNAL O – Opportunities T – Threats
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3. Marketing Mix 4 Ps 7 Ps 4 Cs
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I. 4Ps 1. P – Product 2. P – Price 3. P – Place 4. P - Promotion
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I. 4Ps PRODUCT (i) Consumer Goods(based on use) – Convenience, Shopping, Speciality. (ii) Industrial Goods (based on Durability) – Durable (capital goods – car, ac) , - Non Durable (FMCG - soap, salt) (based on Tangibility) – Tangible (machinery, raw material) , - Intangible(medical treatment, education)
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I. 4Ps 2. PRICE (i) Internal factors
– Organisation, Marketing mix, Product Differentiation, Cost. (ii) External factors – Demand, Competition, Behaviour, Nature of Buyers, Govt rules and rugulations. 3. PLACE 4. PROMOTION
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II. 7Ps 1. P – Product 2. P – Price 3. P – Place 4. P – Promotion 5. P – People 6. P – Process 7. P – Physical Evidence
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III. 4Cs C – Consumer C – Cost C – Communication C – Convenience
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4. Consumer Behaviour Classification of Consumer Importance of CB
Nature of Indian Consumers.
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I. Classification of Consumer
Individual – own use Commercial – Manufacturing or reselling
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II. Importance of CB Production policies Price Policies
Distribution policies Sales Promotion policies
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5. Market Segmentation Dividing a market into sub groups.
Importance of MS Causes of MS Basis of MS
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I. Importance of MS Understand customers Maximize product potential
Improve distribution NW Gain New clients
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II. Causes of MS Increase in profit Popularity in the market
Better customer satisfaction Better opportunity for product sales growth Very easier customer – Business communication Flow
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III. Basis of MS Consumer Market Industrial Market
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6. Marketing Management & Planning
MM - Analysis, planning, implementation and control. Concepts of MM Importance of MM Marketing Planning: Process of MP Classification of MP Factors affecting the MP
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I. Concepts of MM Consumer oriented concept - target : consumer needs
2. Marketing oriented concept - orientation : sales, product , production Consumer satisfaction 4. Consumer welfare concept - focuses : consumer needs, wants, profits and also social welfare
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II. Importance of MM Maximum Results with Minimum Efforts.
2. Importance for Consumers - will select the product if aware. Increase in Living Standards 4. Economic growth
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I. Process of MP Step 1 Goal Setting - mission - objectives Step 2 Analysis the Current situation - Marketing audit -SWOT - Marketing Assumption Step 3 Creating the marketing strategy - marketing objectives and strategies - Forecasts of expected results - Create alternative plans step 4. Allocating Marketing Resources and Monitoring - budget - Detailed action plan
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II. Classification of MP
Long term - more than one year 2. Short term - less than one year Adhoc - future plan (solution if problem arise in the actual performance)
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III. Factors affecting the MP
Internal National - Population, National Income(6.7 trillion PPP dollars), Price trends, Industrial policy. International - Monetary system(regulate the supply of money) - Stability and peace - Scientific and technical development
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7. Product Life Cycle(PLC)
- distinct stages in the sales history. Stages in PLC Importance of PLC Factors Affecting PLC Product Related policy Decision Product Development Steps
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I. Stages in PLC Market Introduction – innovative may launch
Market Growth – in sales and profit Market Maturity - reached state of equilibrium Market Saturation – supplies large quantities for sale and saturate the market Market Decline – Customers goes for better products.
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II. Importance of PLC Life of a product is Limited
Estimation of profits Marketing Programme
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III. Factors Affecting PLC
Development of substitute products Product regulatory system Technical change Competitive entry Legal and Govt. Goodwill Quality of raw material
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IV. Product Related policy Decision
Product Item – list of producer or reseller Product Line – group of products by a single company Product Mix – total no of product lines by a single company
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V. Product Development Steps
Idea Generation Product Screening Concept testing Business Analysis Product Development Test Marketing Commercialization
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8. Channels of Distribution
- set of people and firm. Importance of CoD Functions of DC Types of CoD Factors Affecting the DC
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I. Importance of CoD Reduce cost Guide the consumer
Understand the logistics Reduce the storage cost
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II. Functions of DC Contact Between Producer and Consumer
Satisfaction to the consumer Transferring the title – through sales and purchase Fixing prices
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III. Types of CoD Conventional DC – producer, wholesaler, and retailer work separately (i) Direct Channel or Zero level channel Manufacturer ïƒ Consumer (ii) Indirect Channel – manufacturer gets help of 1 or more (a) One stage channel Manufacturer ïƒ Retailer ïƒ Consumer (b) two stage channel Manufacturer ïƒ wholesaler ïƒ Retailer ïƒ Consumer (iii) three stage channel Manufacturer ïƒ Agent ïƒ wholesaler ïƒ Retailer ïƒ Consumer 2. Non – Conventional DC – full co-ordination (i) Vertical – producer, wholesaler, and retailer work together as a unified group in order to meet consumer need a)corporate - single firm own production and distribution Ex: Bata, Tata) b)Administrated VC - more than one firm own production and distribution ) c) Contractual VC – producer, wholesaler, retailers employed voluntary basis (ii) Horizontal DC – two or more companies join Ex: Associated Cement Company
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IV. Factors Affecting the DC
Product consideration Market Consideration Company Consideration Middlemen consideration Marketing Middlemen Merchant –  person or company involved in wholesale trade Agent – Broker, Commission Agent, Auctioneer
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9. Pricing Importance of Pricing Factors Affecting pricing decisions
Types of Pricing policies Process of pricing Methods of pricing
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I. Importance of Pricing
Determines demand of the product Determine revenue and profit Can regulate the competition Affect the total sale, total revenue, total profit
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II. Factors Affecting pricing decisions
Primary – demand, cost, Secondary – Char of product and consumer, aims, benefits, marketing method, Economic and political environment, Govt. laws and regulation, Delivery route, market competition
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III. Types of Pricing policies
Variable – demand, cost, One price policy Other ways - Based on flexibility, char, price level, geographical ground
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V. Methods of pricing Cost plus pricing method – determined by adding a percentage to a product Ex : government contracts Marginal cost method - consisting of labor and material costs, plus estimated portion of fixed cost Market penetration method - brand or category Ex : Mercedes Benz Fixed cost – EX : retailer Variable cost – Ex : comission Mark up method - Ex : Computer shop
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10. Advertising - ad VERTere (to turn toward) Non personal presentation and promotion. Characteristics of advertising Objectives of advertising Types of advertising Classification of advertisement on the basis of stages Functions of advertising Media of advertising Factors taken into consideration while selecting the advertising media Principles of Effective advertisement Advantages of advertising Limitation of advertising Publicity Important terms
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I. Characteristics of advertising
Impersonal The idea is to promote goods or services Sponsorship Paid form of communication Facilitates consumer choice Element of creativity
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II. Objectives of advertising
Introduction of new product Increase in sale Maintaining existing buyers Create and enhance goodwill of the firm Remind consumer Convince consumer Create and enhance brand image Help in personal selling
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five Ms of advertising Mission Money Message Media Measurement
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III. Types of advertising
Classified advertisement Decorative advertisement Financial advertisement Informative advertisement Authenticated advertisement Pannel advertisement Souvenir advertisement National advertisement Cooperative advertisement Contract advertisement
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IV. Classification of advertisement on the basis of stages
Pioneering stage Competitive stage Retentive stage
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V. Functions of Advertising
Promote sale Introduce new products Stimulate research and development Educate people Provides source of revenue to press Builds reputation advertiser
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VI. Media of Advertising
Press Advertising Outdoor advertising Direct mail advertising Electronic advertising Entertaining advertising Point of purchase advertising Modern advertising
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1.Press Advertising Newspaper advertising Magazine advertising
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2.Outdoor advertising Banners Posters Hoarding Sky advertising
Bus advertising Train advertising Tram advertising Electric display Advertising board Sticker advertising
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Hoarding
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Sky advertising
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Bus advertising
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Train advertising
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Tram advertising
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Electric display
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Advertising board
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Sticker advertising
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3. Direct mail advertising
Post card Booklets Folders Sales letter Price list Circular Catalogue Personal letters Monthly magazines Leaflets(flyer)
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4.Electronic advertising
Radio Television Cinema Video Cassette Cinema slide Film Loudspeaker
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5. Entertaining advertising
Drama Music programmes Exhibitions Educational Programme
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6. Point of purchase advertising
Window display Counter display
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7. Modern advertising Satisfied customers Past customers E-Commerce
s Mobile Internet(Digital Marketing)
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VII. Factors taken into consideration while selecting the advertising media
Nature of product Objectives of marketing Nature of market Life of advertisement Type of audience Financial consideration Circulation of media
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VIII. Principles of Effective advertisement
Attract the people Suggest something Should aim at educate people Create need for the product People remember
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IX. Advantages of advertising
Benefits Consumers Benefits Manufacturer Benefits society
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X. Limitations of Advertising
Adds cost Undermines social values Creation of monopoly(exclusive possession ) Encourages sale of inferior(lower in rank) products May not increase overall demand
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XI. Publicity - mass medium Characteristics of publicity - third person involve - need not bear expense - communicate greater no of people - no possibility of repetition
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XII. Important Terms Surrogate Advertising Industrial Advertising
Sandwich board Advertising frequency
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world top 3 adagency Y& R (Young & Rubicam) Brands - Newyork
6500 people in 186 offices in 90 countries, all on a mission to resist the usual for our clients. 2. McCANN world group - US McCann is a global advertising agency  network, with offices in 120 countries - US 3. Dentsu - Tokyo Dentsu Inc. is an International advertising and public relations company whose headquarters are located in the Dentsu Building in the Tokyo
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India top 5 adagency 1. Ogilvy and Mather With its presence in over 100 countries . most successful and renowned brands such as utch (Vodafone), Cadbury, Asian Paints and Fevicol. 2. Mudra Communications renowned brands like McDonalds, Tourism Australia, Colgate and PolicyBazaar.com. 3. JWT It is behind many famous ad campaigns like Listerine, Good night, and Teach for India. 4. McCann Erickson India Its holds the account of some famous brands like MasterCard, Coca Cola, and Greenlam Laminates. 5. Lowe Lintas responsible for ad campaigns like Idea, ICICI Prudential and Tata Tea.
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11. Personal Selling - salesperson ïƒŸïƒ customer Steps in PS
Characteristics of PS Significance of PS Qualities of Good salesperson
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I. steps in Personal Selling
Prospecting and Qualifying Pre-Approach Approach Presentation Handling Objections Closing the sale Follow up
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II. Characteristics of Personal Selling
Oral presentation Two way communication Creative activity Involve personal relationship relationship marketing
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III. Significance of Personal Selling
Benefits the consumer Benefits the business Benefits the society DIFFERENCE BETWEEN Personal Selling & ADVERTISING
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IV. Qualities of Good salesperson
Impressive Personality Good Behaviour Ability to communicate and persuade Persistence Mental qualities Knowledge of the product and the company
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12. Sales Promotion Objectives & Importance of promotion Promotion Mix
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I. Objectives & Importance of promotion
Objectives of promotion - introduce new product - compete with competitor’s product - improve the company/brand image - increase sales Importance of promotion - boost sales - encourage people to try, buy a product
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II. Promotion Mix Elements of PM
- advertising, personal selling, sales promotion, public relations, social media, direct marketing Factors affecting PM - budget, stages in PLC, type of product, consumers preference, competitors.
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III. Sales Promotion Objectives of SP - Informative to customers
- persuades customers - increase in sales volume - incentive to retailers - create product identity Characteristics of SP - Attractiveness, fit to product category, reception delay, value Importance of SP Elements of SP Merits and Demerits of SP
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13. Branding, Packaging & Labeling
1. Importance of Branding 2. Functions of Branding 3. Advantages of Branding 4. Types of Brand 5. Brand Name
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1. Importance of Branding
Creating difference between products Create mental structure Physical goods : pears, lux Service : VIT,SRM,ICICI Place : Goa, Kerala
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2. Functions of Branding Helps product identification
Indirectly denote quality Ensure legal right Help price differentiation
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3.Advantages of Branding
To the Manufacturer To the Consumers To the Distributors
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4. Types of Brand Manufacturer Brand
- National, Regional, Advertising, Family Brands, Individual Brand Distributors Brand - Private, Store, Dealer, House
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5. Brand Name Characteristics of a Good Brand Name
- easy to pronounce, read, understand, remember, Brand Awareness Brand Mark Brand Cover Brand Loyalty Brand Equity Trademark Logo
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2. Packaging Enclosing or protecting products Types of packaging
- Primary, secondary, teritrary ,family, reuse, multiple 2. Characteristics of packaging 3. Importance of packaging
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3. Labelling 1.Types of Labels Brand, Grade, Descriptive
2. Functions of Labelling
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14. Marketing Research - systematic gathering, recording, and analysing of data. Characteristics of MR Elements of MR Types of MR Methods of MR Steps in MR Needs of MR Limitation of MR
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I. Characteristics of MR
- prodcut, packaging, sales - scientific method to solving problem - important to decision making - component of MIS - reduce the gap between producer and consumer
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II. Elements of MR - Research of Market, sales, product, packaging, advertising, business economic, export marketing
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III. Methods of MR - product analysis - market analysis - Distribution analysis - Competitions analysis - consumer research - Sales analysis - Motivational research
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IV. Methods of MR Questionnaire method Experimental method
Observation method
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V. Steps in MR Define the problem and objectives Analysis of problem
Determine the information needed Determine source of information Decide research methodology Analyse and interpret data Prepare the report Follow up the study
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V. Needs of MR To start production of new product
Provides in deciding marketing policies, strategies and programme Helps to select CoD Helping sales forecasts
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VI. Limitation of MR Heavy expenditure adopt only large industry
Sufficient time Based on research scholar If research scholar biased.
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15. Consumer Protection Consuemr Protection Act(CPA), 1986
Rights to Consumers MRTP ACT – Monopolies(exclusive control) and Restrictive Trade Practices Act
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II.Rights to Consumers Rights to safety Rights to be informed
Rights to choose Rights to be heard Rights to seek redressal (Â management- and governance-related process) Rights to consumer education
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16. Modern Marketing System
Fields of MMS Functions of MMS Various MMS Type of E-commerce Global marketing Service marketing Bank marketing
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I. Fields of MMS Traditional Fields Modern Fields
Newly Developing Fields
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II.Functions of MMS Understand the nature of service
Understand the customer and his expectations Promotion To decide price Organise delivery system
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III. Various MMS Mobile banking Cyber markting
CRM(customer relationship Management) Green Marketing E -Commerce
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IV. Type of E-commerce B2B B2C C2B C2C
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V. Global marketing B2B B2C C2B C2C
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