1

MARKETING MANAGEMENT

Prepared By:-
Dipa Shah
Nikita Sanghvi
Krishna Rajput
Bharat Maheshwari
Mitesh Shah
Keyur Savalia
 FLOW OF PRESENTATION
2
v
vINTRODUCTION
vPRODUCT AND SERVICE
vPRICING
vPLACE
vPROMOTION
vGLOBAL BUSINESS
v
v
v
 WHAT IS MARKETING ?
3

A Set of
Activities ,
A Philosophy including :
A Function Products
+ Services
A Management
Orientation Pricing
Promotion

Distribution
 WHAT IS MARKETING ?
4

The American Marketing Association Definition:

Marketing is the process of planning and
executing the
conception, pricing, promotion, and distribution
of
ideas, goods, and services to create exchanges
that
satisfy individual and organizational goals.


 FUNCTIONS OF MARKETING
5

Market
Other Research
Functiona Product
Developmen
l t
Areas

Advertisi
Branding ng

MARKETING
Test Sales
Marketing Promotion

After
Sale Pricing
Service
Personal Physical
Distributi
Selling on
 NEEDS , WANTS & DEMANDS
6
ü
üNeeds are basic human requirements which
need to be fulfilled in order to survive.
ü
üThe needs become wants when they are
directed to specific objects that may satisfy
the need.
ü
üDemands are wants or desires backed by
ability to pay & willingness to buy specific
products.
ü
 MARKETERS , PROSPECTS & A MARKET
7
ü

ü

üA Marketer is someone seeking a response from
another party , called the prospect.
ü
ü
üA Market is a group of people or
organization , with needs or wants & with the
ability & willingness to buy.
ü
ü
ü
ü
ü
ü
 THE EXCHANGE CONCEPT
8
Exchange involves obtaining a desired
product from someone by offering something
in return.
At Least Two Parties
Something of Value

Ability to Communicate Offer

cessary Conditions for Exchange

Freedom to Accept or Reject

Desire to Deal With Other Part

 CUSTOMER VALUE
9

 Customer value is the bundle of

benefits customers expect from
a given product or service.


 Its no longer enough to satisfy

the customer , you must
delight them!


 Customers are value maximizers.



 Marketing is process of Value

Creation between two entities
through the process of
transaction.

 CUSTOMER SATISFACTION
10

Customer Satisfaction is a consumer’s feelings

resulting
from comparing a product’s outcome in relation

to
his/her expectations.

 A marketer must meet or exceed customer’s

expectations.


 Focus on keeping customers satisfied.



 Provide solutions to customer’s problems.


 CUSTOMER RETENTION
11

Customer retention is about developing loyal

customers & building long term relationships.
The key to customer retention is customer

satisfaction.


A Highly satisfied customer



 always stays loyal to the company .

 pays less attention to competing brands
& is less sensitive to price.
 Costs less to serve than new customers
as the transactions are reutilized.
 Talks favorably about the company & its
products.



COMPANY ORIENTATIONS TOWARDS THE MARKETPLACE
12

Consumers prefer products that are

Production
ProductionConcept
Concept widely available and inexpensive

Consumers favor products that

Product offer the most quality,
ProductConcept
Concept performance,
or innovative features
Consumers will buy products only if
Selling
SellingConcept
Concept the company aggressively
promotes/sells these products
Focuses on needs/ wants of target
Marketing
MarketingConcept
Concept markets & delivering value
better than competitors
 SOCIETAL MARKETING
13

Societal Marketing =

Consumer Satisfaction + Company ‘ s

Profits + Society’s well being

Societal Marketing Focuses on satisfying

customer needs & wants while enhancing
individual & societal well-being
MARKETING PROCESS
 MARKETING ENVIRONMENT - INTERNAL

15
 MARKETING ENVIRONMENT - EXTERNAL
16
 MARKETING MIX
17
Marketing mix is a set of marketing
variables that the firm uses to pursue its
marketing objectives in the target market.
E.Jerome McCarthy classified these
variables ,which he called the four Ps of
Marketing .
è PRODUCT
è PRICE
è PLACE
è PROMOTION
 MARKETING MIX
18
Apart from the 4 Ps of Marketing , there
have been attempts to develop an ‘extended
marketing mix’ to better accommodate
specific aspects of marketing.

•People
•Process
•
•Physical Environment
 MARKETING ACTIVITIES
19

Gather,
Gather, analyze,
analyze, interpret
interpret information
information about
about environment
environment

Understand
Understand organization’s
organization’s mission
mission and
and marketing’s
marketing’s role
role

Conduct
Conduct aa market
market opportunity
opportunity analysis
analysis

Develop
Develop aa marketing
marketing strategy
strategy

Implement
Implement the
the marketing
marketing strategy
strategy

Evaluate
Evaluate marketing
marketing efforts
efforts and
and make
make changes
changes
 CONSUMER BUYING BEHAVIOR
20

ü Consumer Buying Behavior refers to the

buying behavior of final consumers
(individuals & households) who buy
goods and services for personal
consumption.
ü Study consumer behavior to answer:
ü“How do consumers respond to marketing
efforts the company might use?”
 MODEL OF CONSUMER BEHAVIOR
Product Economic
21
Price Technologic
O ulO
therSim therSim
ul
arketingdM arketingd
al
M
Place
Promotion Political
Cultural
r’slackoxB
uyeB uyer’slackox
Buyer’s Characterist
Decision ics
Process Affecting
Consumer
Behavior

Product uyer’sR
ponB
r’sR
uyeB pon Purchase
Choice Timing
Brand Choice Purchase
Amount
Dealer Choice
 FACTORS AFFECTING CONSUMER BEHAVIOR

22
Culture
Social
Personal
Psychological

Buyer
Buyer
 CULTURE FACTORS
 Most basic cause of a person's wants and
behavior.
 Values
 Perceptions

Social Class
ith shared value systems
•Peoplebased on acommon
within sociallife experiences
class .
tend to exhibit similar
•Occupation
onsumers •Income
sumers •Education
•Wealth
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olesandS
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ily
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••Influecr,bysInfluecr,bys
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24
SOCIAL FACTORS
 Inters
pinos
O ctives
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ifestylIdncao
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ersonality&
P f-C
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cp conm
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tua
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cupation
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tage
S
ersonalIfuc
P 25
PERSONAL FACTORS
 PSYCHOLOGICAL FACTORS
26

Motivation
Self
Actualization
(Self-development)

Psycholog
Esteem Needs
Beliefs and ical
(self-esteem, status) Perception
Attitudes Factors
Social Needs
(sense of belonging, love)

Safety Needs
(security, protection)
Learning
Physiological Needs
(hunger, thirst)
 TYPES OF BUYING DECISIONS S
27

High Low
Involvement Involvement
Significant
differences aviB
eh
or aviB
eh
or
between g B
yin
u in
gek
S
brands om
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ariety-

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 ostpurchaeB
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urchaseD
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valutionfA
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Inform
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ech
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28
THE BUYER DECISION PROCESS
 THE BUYER DECISION PROCESS
STEP 1. NEED RECOGNITION
29

Need
Need Recognition
Recognition
Difference
Differencebetween
betweenan
anactual
actualstate
stateand
andaadesired
desiredstate
state

Internal
Internal Stimuli
Stimuli External
External Stimuli
Stimuli
•Hunger
•Hunger •TV
•TVadvertising
advertising
•• ••
•Thirst
•Thirst •Magazine
•Magazinead ad
•• ••
•A
•Aperson’s
person’snormal
normal •Radio
needs •Radioslogan
slogan
needs ••
•Stimuli
•Stimuliininthe
the
environment
environment
 THE BUYER DECISION PROCESS
STEP 2. INFORMATION SEARCH
30

nalS
ersoP ersonalS
ucP uc •Family, friends, neighbors
•Most influential source of
information
om
CercialS om
usCercialS
us •Advertising, salespeople
•Receives most information
from these sources
ublicS
oresP ores
•Mass Media
icS
ublP
•Consumer-rating groups

xpeE oucsE
rintalS xperintalS
oucs •Handling the product
•Examining the product
•Using the product
THE BUYER DECISION PROCESS
STEP 3. EVALUATION OF ALTERNATIVES
31
Product
ProductAttributes
Attributes
Evaluation
Evaluationof
ofQuality,
Quality,Price,
Price,&
&Features
Features

Degree
DegreeofofImportance
Importance
Which
Whichattributes
attributesmatter
mattermost
mostto
tome?
me?
Brand
BrandBeliefs
Beliefs
What
Whatdo
doIIbelieve
believeabout
abouteach
eachavailable
available
brand?
brand?
Total
TotalProduct
ProductSatisfaction
Satisfaction
Based
Basedon
onwhat
whatI’m
I’mlooking
lookingfor,
for,how
howsatisfied
satisfied
would
wouldIIbe
bewith
witheach
eachproduct?
product?
Evaluation
EvaluationProcedures
Procedures
Choosing
Choosingaaproduct
product(and
(andbrand)
brand)based
basedon
onone
one
or
ormore
moreattributes.
attributes.
THE BUYER DECISION PROCESS
STEP 4. PURCHASE DECISION
32

Purchase
Purchase Intention
Intention
Desire
Desire to
to buy
buy the
the most
most preferred
preferred brand
brand

Unexpected
Attitudes situational
of others factors

Purchase
Purchase Decision
Decision
THE BUYER DECISION PROCESS
STEP 5. POST PURCHASE BEHAVIOUR
33

Consumer’s
Consumer’s Expectations
Expectations of
of
Product’s
Product’s Performance
Performance
Product’s Perceived
Performance

Satisfied
Satisfied Dissatisfied
Dissatisfied Customer
Customer
Customer
Customer
Cognitive Dissonance
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STAGES IN THE ADOPTION PROCESS
 ADOPTION OF INNOVATIONS
35
Percentage of Adopters

Early Majority Late Majority

Innovators

Early
34% 34% Laggards
Adopters

13.5% 16%
2.5% Time of Adoption
Early Late
FLUENCES ON THE RATE OF ADOPTION OF NEW PRODUC
36

Communicability Relative Advantage

Can results be easily observed Is the innovation superior
or described to existing products?
to others?

Product
Characteristic Compatibility
Divisibility s Does the innovation
Can the innovation fit the values and
be used on a experience of the
trial basis? target market?
Complexity
Is the innovation
difficult to
understand or use?
 STEPS IN SEGMENTATION,
TARGETING, AND POSITIONING
37

6. Develop Marketing
Mix for Each Target Segment Market
5. Develop Positioning Positioning
for Each Target Segment
4. Select Target
Segment(s)
Market
3. Develop Measures
of Segment Attractiveness Targeting
2. Develop Profiles
of Resulting Segments
1. Identify Bases Market Segmentation
for Segmenting the Market
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LEVELS OF MARKET SEGMENTATION
STEP 1. MARKET SEGMENTATION
STEP 1. BASES FOR SEGMENTING CONSUMER MARKETS
39
Geographic
Nations, states,
regions or cities

Demographic
Age, gender, family size
and life cycle, or income

Psychographic
Social class, lifestyle, or
personality

Behavioral
Occasions, benefits, uses,
or responses
STEP 1. BASES FOR SEGMENTING BUSINESS MARKETS
40

Personal Demographics
Characteristics

Situational Operating
Factors Characteristics

Purchasing
Approaches
 STEP 1. MARKET SEGMENTATION
REQUIREMENTS
41
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•Size, purchasing power, profiles
of segments can be measured.
siblA
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•Segments must be effectively
reached and served.

tanilS •Segments must be large or

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profitable enough to
serve.
rntalD
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differently to different marketing
mix elements & actions.
nableA
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•Must be able to attract and serve
the segments.
 STEP 2. MARKET TARGETING
EVALUATING MARKET SEGMENTS
42

 Segment Size and Growth

Analyze sales, growth rates and expected
profitability.

Segment Structural Attractiveness

Consider effects of: Competitors,
Availability of Substitute Products and,
the Power of Buyers & Suppliers.

Company Objectives and Resources

Company skills & resources relative to
the segment(s).
Look for Competitive Advantages.
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MARKET COVERAGE STRATEGIES
STEP 2. MARKET TARGETING
 STEP 2. MARKET TARGETING
CHOOSING A MARKET-COVERAGE STRATEGY
44

Company
Resources

Product
Variability

Product’s Stage
in the Product Life Cycle

Market
Variability

Competitors’
Marketing Strategies
STEP 3. POSITIONING FOR COMPETITIVE ADVANTAGE
45

 Product’s Position - the place the product

occupies in consumers’ minds relative to
competing products; i.e. Volvo positions
on “safety”.

Marketers must:
Plan positions to give products the
greatest advantage
Develop marketing mixes to create
planned positions
 STEPS TO CHOOSING AND IMPLEMENTING
A POSITIONING STRATEGY
46

Step 1. Identifying a set of possible competitive

advantages: Competitive Differentiation.

Step 2. Selecting the right competitive advantage.

Step 3. Effectively communicating and delivering

the chosen position to the market.
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COMPETITIVE ADVANTAGES
SELECTING THE RIGHT
 WHAT IS PRODUCT?
48

The end result of the manufacturing process,

to be
offered to the marketplace to satisfy a need

or want.

 LEVELS OF PRODUCT
49
 TYPES OF CONSUMER PRODUCTS
50
 TYPES OF INDUSTRIAL PRODUCTS
51


 WHAT IS SERVICES?
52 

 Any activity or benefit that one party can

offer to another that is essentially
intangible and does not result in the
ownership of anything.
 CHARACTERISTICS OF SERVICE
53

Intangibility

Inseparability

Variability

Perishability
 Product design :
Product design is the generation of ideas,
concept
54

development, testing and manufacturing or

implementation of a physical object.
Product positioning :
Product positioning is the consumer perception
of a product or service as compared to it's
competition.
Product development :
Improving an existing product or developing new
kinds of products a set of activities beginning
with the perception of a market opportunity and
ending in the production, sale, and delivery of a
product.
 PRODUCT MIX
55
Product Mix means the total sum of all the
product items and their variants offered by
an organization e.g., books, videos, story
hours, etc.
- Width – how many product lines a company
has.
- Length – how many products are there in a

product line.
- Depth – how many variants of each product

exist within a product line.

- Consistency – how closely related the
product lines are in end use.

 NEW PRODUCT DEVELOPMENT PROCESS
56

 Idea Generation and Screening

 Concept Development and Testing
 Marketing Strategy
 Business Analysis
 Product Development
 Test Marketing
 Commercialization

 PRODUCT LIFE CYCLE
57

Product life cycle:

cycle progression of
products through introduction, growth,
maturity, and decline stages
 PRODUCT LIFE CYCLE
58 Introduction Stage Growth Stage Maturity Stage Decline Stage
SALES Low Sales Rapidly rising sales Peak sales Declining sales

COSTS High cost per customers Average cost per Low cost per customers Low cost per customer
customer

PROFITS Negative Rising profit High profits Declining profits

MARKETING Create product awareness & Maximize market share Maximize profit while Reduce expenditure &
OBJECTIVES trial defending market share milk the brand

PRODUCT Offer a basic product Offer product Diversify brand and Phase out weak items
extensions, service, models
warranty

PRICE Use cost-plus Price to penetrate Price to match or best Cut price
market competitors

DISTRIBUTION Build selective Build intensive Build more intensive Go selective : Phase
distribution distribution distribution out unprofitable
outlets

ADVERTISEMENT Build product awareness Build awareness and Stress brand Reduced to level
among early adopters & interest in the mass differences & benefits needed to retain
dealers market hard-core loyal
customers
 Pricing
59
 Price
 Factor to consider when setting prices
 Customer value perception
 Company and product cost
 Other internal and external considerations
affecting price decisions

 Customer value perception
- (Value based pricing)
60

 Good value pricing

 Value added pricing

 Company and product cost
(Cost based pricing)
61
rnal and external considerations affecting pri
62
63
 Price Changes
64
 Public policy and Pricing
65
 Distribution Channel
66

üA marketing channel is a set of

independent organizations that help
make a product or service available
for use or consumption by the
consumer or business units.
üChannel decision involves
 Long term Commitments
 Other marketing activities
ü
 Role of Intermediaries
67

vGreater efficiency
 Contacts
 Experience
 Scale of operation
 Specialization
vMatch supply and demand


v
 Functions of Channel
68

vInformation
vPromotion
vMatching
vNegotiation
vPhysical distribution
vFinancing
vRisk management
 Channel behavior and conflict
69

vBehavior- Inter dependent

v
vConflict
 Vertical

 Horizontal


 Marketing Systems
70

 Conventional
 Vertical Marketing Systems
 Corporate
 Contractual
 Administered

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Channel design decision
 Channel management decision
72

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 Logistics
73

 Involves supply chain

 Effective logistics- key to win and retain
customer
 Logistic –major cost component
 Need created-Explosion in product varieties
 IT –distribution efficiencies
 Goals of logistic systems
74

• Provide a Targeted Level of Customer

Service at the Least Cost.
• Maximize Profits, Not Sales.
•
 Logistic function
75

 Design a system to minimize cost

 Warehousing
 Inventory management
 Transportation
 Integrated logistic management
76

 Concept Recognizes that Providing Better

Customer Service and Trimming Distribution
Costs Requires Teamwork,
Teamwork Both Inside the
Company and Among All the Marketing
Channel Organizations.
 Cross functional team work
 Channel partnership
 Third party logistic.



 Channel decisions
77

 Direct or indirect channels

 Single or multiple channels
 Length of channel
 Types of intermediaries
 Number of intermediaries at each level
 Which intermediaries? Avoid intrachannel
Conflicts
 Retailing
78

 Introduction
 Includes all the activities involved in
selling products and services directly to
final consumer for their personal use.
 Types of retailers classified on the basis
of
 Amount of service offered
 Breadth and depth of product line
 Price changes.

 Major Store Retailer Type
79

 Specialty stores
 Department stores
 Super markets
 Convenience Stores
 Discount stores


 Off price retailers

 Super stores
 Category killers
 Retailer Marketing Decision
80

 Target Market and positioning decision

 Product assortment and service decision
 Price decision
 Promotion decision
 Place decision
 Wheel or retailing
81

 A concept of retailing that states that new

types of retailer usually begins as low-
margin, low- price ,low- status operations
but later evolve into high-priced,higher
service operations eventually become like
the conventional retailers they replaced.
 Wholesaling
82

 Introduction
 Includes all activities involved in selling
goods and services to those buying for
resale or business use.
 Significance

Key component of the distribution channel

 Types of wholesalers
83

 Merchant wholesalers
 Full service wholesalers
 Wholesale merchant
 Industrial distributor
 Limited –service wholesaler
 Cash-and-carry wholesaler
 Truck jobbers
 Drop shippers
 Rack jobbers
 Producers’ cooperative
 Mail-order wholesaler
 Brokers and Agents




 Wholesaler market decision
84

 Target market and positioning decision

 Marketing mix decision
 Promotion Mix

Advertising
Sales Promotion
Public Relations and Publicity
Personal Selling
Direct and Interactive Marketing
 Advertisement
I get people to know about my business so that it c
 What is it?

Advertising is any Paid/Unpaid form

of non personal presentation and
promotion of ideas, goods or
services by an identified Sponsor.

Best advertising is done by

Satisfied customers
Advertising Objectives

Advertising objective is a specific communications

task and achievement level to be accomplished with a
specific audience in a specific period of time
INFORMATIVE
INFORMATIVE
PERSUASIVE
PERSUASIVE
Informative Advertising
Aims to create brand awareness and Knowledge of
Persuasive Advertising
new REMINDER
REMINDER
Aims to create
products or new liking , preference
Features , conviction
of existing features
and
purchaseReinforcement
of a product or service
Reinforcement
Reminder Advertising
Aims to stimulate repeat purchase of
•Reinforcement
ProductsAdvertising
and services-
Aims to convince current purchasers
that
they have made the right choice- cars
 Advertisement

Thanda Matlab Dimag Ki Batti JalaDe

 Sales Promotion

Definition:
Any activity or material used as a direct
inducement to purchase

Targeted toward:
•Sales force
•Wholesalers and retailers
•Consumers
Sales Promotion Methods for Consumers

Product sampling, demonstrations

Coupons, refunds

Contests, games & sweepstakes

Multiple purchase offers,

Frequent-user incentives
 Classifying Types of Sales Promotion

Promotional Non-price Sampling

pricing promotions

•Contests •Most effective in

•Price the early stages
reductions •Free gifts of a new product
•Free goods •Self-supporting launch (#1 use
•Tied offers offers for coupons)
•Money off next •Multi-brand promos •Important for new
purchase •Guarantees and products
added services •Very expensive
 Personal Selling
Interpersonal promotional process involving a
seller’s person-to-person presentation to a
prospective buyer
Objective
Cultivating new
clients
Communication
Selling
Servicing
Information gathering
Allocating scarce
resources
Examples of Personal Selling

Retail selling

Field selling

Telemarketing

Inside selling
 Process of Personal Selling
FOLLOWING UP

CLOSING THE SALE

HANDLING OBJECTIONS

MAKING THE SALES PRESENTATION

APPROACHING THE PROSPECT

Pre approach : QUALIFYING PROSPECTS

PROSPECTING: IDENTIFYING POTENTIAL CUSTOMERS

Public Relations and Publicity
 Direct Marketing
According to the Direct Marketing
Association(DMA), direct marketing is
defined an interactive marketing system
that uses one or more advertizing media to
affect a measurable response and/or
transaction at any location.
Major Channels
Face-to-face selling
Direct mail
Catalog marketing
Telemarketing
Direct-response television
marketing
Kiosk marketing
Face-to-face selling
Direct Mail
Catalog Marketing
Telemarketing
Direct-response television marketing
Media Marketing
Kiosk Marketing
 Global firm
105

 A firm that, by operating in more than

one countries and gains R&D,
Production, Marketing, and Financial
advantages in its costs and reputation
that are not available to purely domain
competitors.
 Major International Marketing Decision
107
 Market Entry Strategies
108

Among of Commitment, Risk, Control and Profit

Potential
 Whole channel concept for international marketing

109