Defining markets and marketing environment Adapting to the new market economy.

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Presentation transcript:

Defining markets and marketing environment Adapting to the new market economy

What is Marketing???

Target Market & Segmentation Market Meta market Marketers and prospects

Needs, Wants Demands Product, Service Brand Value Satisfaction Brand Value Proposition

Transaction BuyerSeller

Marketing Channels Communication channels Distribution Channels Service Channels

Competition Brand competition Industry competition Form competition Generic competition

Marketing Mix Product Variety Quality Design Features Brand name Packaging Sizes Services Warranties Returns PRICE Discounts Allowances Credit terms Rebates Promotion Sales promotion Advertising Sales force Public relations Direct Marketing Internet marketing PLACE Channels Assortments Locations Inventory Transport

Marketing mix strategy Sales promotion Advertising Sales Force PR Direct mail, tele marketing, internet compan y Product services prices Distributio n channels Target customers

The selling concept Producer Products selling profits Target market customer needs integrated marketing profits Marketing concept

Adapting marketing to the new environment New technological advances & new market forces creating New economy How to sustain ?

New forces Digitalization & Connectivity Disintermediation Customization Inudtry convergance

The new Era Customer segment focused vs product focus Customer lifetime value Vs transactions Stakeholders Vs shareholders 360 degree marketing Brand building through Behavior VS Advertising Customer retention Vs customer acquisition

Measuring Customer Satisfaction Under delivering & Overpromising