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ANKIT BHAGERIA | SECTION-B

RekaCem: Learning: Ientifying the customer. And Chapter 2 IDEAL MARKETING PLAN
differentiating between customer and consumer.
Financials were around house painting dimensions. Situation Analysis 1) Demographics / Georaphics /
Subtract window size. How many 1.5 kg packs used, Behavior factors 2) Market needs of different segments
5 kg packs. Smaller packs come out cheaper. 3) Market trends
Customer was retailer and not contractor/end SWOT Analysis + Competition Analysis
consumer. They will push it to the contractors. Product service offering Value proposition
A-One Starch: Marketing strategy
Learning: Targeting has to be correct o Target markets
o Positioning
Financials: Revenue contribution by segments vs.
Sales contribution by segments Marketing program
o Pricing
Decision: High quality pharma + Unorganized
o Distribution
confectionary Branded products. Dont focus on
o Promotion
smaller players
o Product i.e. Basically 4Ps
Aqualisa Quartz:
Financials
Learning: Innovation. Value proposition. Positioning.
Implementation
Decision: Focus on showrooms and high end
customers. Eventually plumbers will come to know.
Plumbers cannot be called to convention.
CHAPTER 6 (ANALYZING BUSINESS MARKETS)
Financials: Pump. Price is currently okay (Pumps)
Fashion Channel: Problem recognition (Requirement for new product or
Learning: Segmentation has to be correct. (Sule told new supplier as prev. was high cost / low qual.)
age based segmentation) Need description (General characteristics, reqd. qty.,
Decision: Focus Fashionistas only. Financials clear. tech specs., PRODUCT VALUE ANALYSIS)
Cash lying around. New programming cannot be Supplier search (Trade directories, contacts, ads, trade
produced shows, Internet). E-procurement : Vertical hubs (based
Southwest: on industries) vs. Functional hubs (Logistics, Advtsng)
Learning: Marketing decision when companys Lead generation (Supplier to ensure it is considered.
future and past are conflicting Know customers. Balance b/w qty and qlty. of leads)
Decision: Go ahead and buy, Busy airport, Business Proposal solicitation + Supplier selection
travellers in NY, Long Island is far away. Counter price pressure using services, productivity
Huge Cash lying around. Need to show shareholders Order routine specification
that growth is happening
Clean Edge Razor:
Learning: Positioning CHAPTER 5 (CONSUMER MARKETS) -
Decision: Niche segment - gives higher profit. Assignment
Prevents cannibalization. Name - Clean Edge by
paramount. Buying decision factors Cultural, Reference grp.,
Sony EyeToy: Status in society, Self concept, Personality, Lifestyle
Learning: Positioning Perception (Selective attention, sel. Distortion, sel.
Financials: Very few Groove to get profits Retention)
Decision: Dont focus on gamers. Groove includes
CONSUMER PURCHASE PROCESS
songs of 70-80s. Dont focus on children, as doing
currently. Focus on middle income age. 1) Problem recognition Need theories
Biopure: 2) Info search Personal sources, Commercial (Ad,
sites, salesmen, dealers), Public (Mass media),
Learning: New product offerings
Experience based (Examine / use of product)
Decision: Oxyglobin first. Earns less revenue. Plus no
o Search dynamics Total set -> Awareness set ->
competitor
Consideration set -> Choice set -> Decision
Financials: Market of dog higher than expected. Do
3) Eval. Of alternatives Beliefs and attitudes,
some calculations.
Expectancy valence theory
Green Ox:
4) Purchase decision Heuristics like Minimum
Learning: Pricing
acceptable qlty., best brand, elimination. Others
Decision: Multiple flavors. Dont go into vegetable
attitude and perceived risks change decision
juice and pills. Compete with sports drink.
5) Post-purchase behaviour: Satisfaction / Stop buying /
Antioxidant should not be your USP. Compete head
Warning friends
on in price with Croc-ade. Focus on young people
athletic. They dont care about antioxidant.
CHAPTER 7 (SEGMENTS / TARGETS) Steps in segmentation

Geogrpahic segment Nation, state, city, locality Need-based segmentation: Group customers based on
Urban vs. Rural (Works in India) needs and benefit sought
Demographic Age/Family size / Family life cycle / Segment identification: Determine the demographics,
Gender / Income / Occupation / Edu / Religion / lifestyle, behaviour that make a segment actionable.
Generation / Social class Attractiveness: Determine attractiveness of each
segment using market growth, competition, access
Profitability: Determine segment profitability
Psychographic VALS Framework
Positioning: For each segment create value proposition
and price strategy based on segment needs
Acid-test Create sgmnt-storyboard & test attractiveness
Marketing mix: Expand positioning to include 4Ps

CHAPTER 8 (PRODUCT LIFE CYCLE)


Expanding market demand 1) Attract new customers
who are unaware of product or resist due to price 2)
Increase level of consumption through product redesign
or new packaging 3) Increase freq. of consumption by
creating new ways to use brand or additional
opportunities (E.g. strip on gillete razor, Milkmaid)
Protecting market share 1) Proactive marketing like
anticipative or creative (Discover solutions not
Ideals Guided by principles demanded). 2) Defensive marketing Make brand
Achievement Products that demonstrate success to impenetrable (P&G), Preemptive defense (Announce
peers new offerings)
Self expression Look for variety and risk
Product life cycle & Marketing strategies for each
Introduction Slow sales growth. Non-existent profits
HIGH RESOURCES
Growth Rapid acceptance. Substantial profits
Innovators Successful, sophisticated. Upscale / Maturity Slowdown in growth. Profits stabilize
Niche products Decline Sales decline and profits erode
Thinkers Mature, satisfied. Seek durability,
functionality, value
Achievers Successful, goal oriented. Seek premium
products that demonstrate success to peers
Experiencers Young, enthu ppl. Seek variety,
excitement. Fashion products

LOW RESOURCES
Believers Conservative, traditional.
Strivers Trendy, fun loving but resource constrained.
Stylish products that emulate wealth
Makers Practical, down to earth.
Survivors Elderly, passive ppl. Loyal to brands

Effective segmentation criteria


Measurable: Size, purchasing power measurable
Substantial: Large and profitable enuff to serve
Accessible: Can be effectively reached and served
CHAPTER 19 (INTRODUCING NEW PRODUCTS) PORTERS FIVE FORCES
Idea generation Sources include employees, Tests attractiveness and profitability of industry
customers, competitors, distributors. Through SWOT, Tests Long run attractiveness of a segment
R&D, market trends, focus groups, corporate spies
Idea screening Eliminate unsound concepts. Entry of competitors: What entry barriers, How easy
Feasibility. Probability of commercialization. Probability for new entrants (Capital req., Govt. policies, loyalty)
of economic success. Threat of substitutes: Substitutability esp. by cheaper
Conceptual dev. Present concept to target customers, products. Buyer switching costs. Value of product
get reactions. Believability, Need level, gap level, differentiation.
perceived value, purchase intention Bargaining power buyers: Position of buyers when
Marketing strategy 1) Target markets size, structure, they work together. Buyer concentration, price
behaviour. 2) Planned price, disbn. Strategy 3) Long run sensitivity, how well informed, dependency on
sales and profit goals and 4Ps existing players
Business analysis Estimate sales, costs and profits Bargaining power suppliers: If only few suppliers,
Prod. Development Produce prototype and show to monopoly suppliers, strength of distribution channel
target audience to ask if changes desired. Rivalry among existing players: Strong competition or
Test marketing Launch within a region and monitor not, Is one player very dominant or all equal in size.
marketing mix. Modify before national launch. Test How strongly will all of them retaliate to new entry
usage patterns. Focus group interviews.
Commercialization Go for launch. Timing, product
launch strategy, place of launch, advertising
USE AIDA MODEL FOR ADVERTISEMENTS
5C ANALYSIS

Helps in understanding external and internal situation


Company: Product line, Image in market, Technology
and experience, Culture, Goals, Performance so far
Collaborators: Distributors, Suppliers, Alliances
Customers: Market size and growth, Market
segments, Needs of customers, Value drivers /
Motivation behind purchase, Decision maker, Retail
PESTEL (External analysis) channel customer buys from, Customer information
sources, Buying process (Impulsive vs. Careful),
Macro environmental factors
Frequency of purchase and seasonality, Quantity
Political: Govt. intervention levels (Tax policy, Labor purchased in single shopping, Trends
law, Environmental law, Political stability) Competitors: Actual vs. Potential, Direct vs. Indirect,
Economic: Economic growth, interest rates (Affects Positioning, Market shares, Strengths and weaknesses
borrowings), exchange rates, unemployment, inflation of competitors, Future activity of competitors
Social: Cultural aspects, Health, Population growth Climate: Political and regulatory environment,
rate, Age disbn. (Aging pop. Implies less willing Economic environment, Social/Cultural, Technological
workforce), Income disbn., Career aspirations (USE PESTEL)
Technological: R&D levels, automation, innovation,
technological incentives. Determine barriers to entry,
minimum efficient production level, influence
outsourcing ------------------------------- X ------------------------------
Environmental: Weather, climate, climate change.
Affects tourism, insurance.
Legal: Discrimination law, competition law, consumer 4P (MARKETING MIX)
law, antitrust law, employment law, safety laws.
Affects operations, costs, demand High profile brand: Focus on promotion. Desensitize
weight given to price.

Assess which factors can change and which will have Product: Needs of customer, Features to meet needs,
greatest impact How and where will customer use it, Appearance, Size,
Name, Differentiation, Branding, Packaging
Pricing: Value of product to buyers, Established price
points in market, Price sensitivity, Discounts, Bundling,
AIDA MODEL
Competition price, Variation across product lifecycle
Place: Where do buyers purchase product, What kind List of events when consumer engages with
of store do they buy from, Distribution channels, Use advertisement
of sales force / trade shows / Online / Samples, Attention Existence of product / Service
Service levels Visual stimuli. Surprise buyers
Promotion: Communication routes to get across Place ads in unexpected situations, Shock factor,
marketing message, Promotion timing (Seasonality, Personalization
Environment), Press vs. TV vs. Radio vs. Billboards vs. Interest Retain attention
Direct mailers vs. Internet, Competitor strategies for Establish a need. Personal link
promotion Entertaining and memorable commercials
Easy to read ads with illustrations
Desire Create desire for product
PRICING STRATEGY Infomercials.
Know how buyers value offerings (Economic value to Link product to consumer problem. Show they cannot
customer, competitor pricing) live without the solution
Assess price sensitivity (Elasticity) Action Desire leads to action
Special offer, free gift, limited promotion
Variation across segments, geographies
Website, phone call, show that they need to act
Anticipate competitive response
Check consistency with strategy (Sales vs. Profits)
Assess whether its worth to serve customer

Pricing Options
Rapid Skimming: High launch price + High promotion.
Makes sense when large market size is unaware of
product.
Slow skimming: High price + Low promotion. Makes IDEAL STRATEGY:
sense when limited market size + Aware market.
Buyers willing to pay high. Less competition. 1. Situation Analysis: 5Cs, Porters five forcers
Rapid promotion: Low price + High promotion. Large (Industry analysis), PESTEL (External environment),
market + unaware of product. Price sensitive market. SWOT (Internal situation)
Strong competition. Economies of scale. 2. Define objective
Slow penetration: Low price + Low promotion. Large 3. Market definition: Potential market, STP (Need for
market. Highly aware. Price sensitive. Competition. segmentation, requirements of segments, basis;
Criteria for selection of target market; What image
will you portray)
------------------------------- X ------------------------------ 4. Key value proposition
5. Marketing Mix 4Ps
6. Pricing strategy, Distribution channels
CHANNELS 7. Product communication - AIDA
FINANCIALS
Communication Channels: Used to deliver and receive
messages from target buyers. E.g. E-mail, Toll free 1. Breakeven analysis (Var. vs. fixed costs)
number 2. Market share / Market size
Distribution Channels: Display and deliver physical 3. Cannibalization
product. E.g. Warehouses, Transportation vehicles, 4. Whole sale price vs. Retail price
Trade channels like Distributors, Wholesalers, 5. Markup / Discounts
Retailers
Selling Channels: Distributors, Retailers Dont mention framework name