About Marketing. A Professor at one of the IIMs (INDIA) was explaining marketing concepts to the Students:- 1. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" - Thats Direct Marketing 2. Youre at a party with a bunch of friends and see a gorgeous girl. One of your friends goes up to her and pointing at you says: "Hes very rich. Marry him." - Thats Advertising 3. You see a gorgeous girl at a party. You go up to her and get her telephone number. The next day, you call and say: "Hi, Im very rich. Marry me." - Thats Telemarketing
4. Youre at a party and see gorgeous girl. You get up and straighten your tie, you walk up to her and pour her a drink, you open the door (of the car) for her, pick up her bag after she drops it, offer her ride and then say: "By the way, Im rich. Will you marry me?" - Thats Public Relations 5. Youre at a party and see a gorgeous girl. She walks up to you and says: "You are very rich! Can you marry me?" - Thats Brand Recognition 6. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" She gives you a nice hard slap on your face. - Thats Customer Feedback 7. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" And she introduces you to her husband. - Thats demand and supply gap
8. You see a gorgeous girl at a party. You go up to her and before you say anything, another person comes and tells her: "Im rich. Will you marry me?" and she goes with him - Thats competition eating into your market share 9. You see a gorgeous girl at a party. You go up to her and before you say: "Im rich, Marry me!" your wife arrives. - Thats restriction for entering new markets
Marketing is for Everybody TO SHOW THAT MARKETING IS ESSENTIAL PROVIDE AN UNDERSTANDING OF THE BASIC MARKETING CONCEPTS
The Nature of Marketing What is the Purpose of Marketing? 1.Satisfaction: Functional Satisfaction Psychological Satisfaction The Utility concept 2. Consumer Problems 3.Providing Benefit Bundles 4..Offering a Total Consumption System
Simple Marketing System Communication Goods/services Industry Market(a collection (a collection of sellers) Money of Buyers) Information
The Nature of Marketing What is the Purpose of Marketing? Satisfaction Increments of Satisfaction Facilitating Exchanges Conditions for ExchangeSystems of Exchanges
Evolving Views of Marketings Role Production Marketing Customer The customer as the controlling function and marketing as the integrative function
Traditional Organization Chart Top Management Middle Management Front-line people Customers
Customer-Oriented Organization Chart Customers Front-line people Middle management Top manage- ment
Core Concepts of MarketingTarget Markets & Segmentation Needs, Wants, and Demands Product or Offering Value and Satisfaction Exchange and Transactions Relationships and Networks Marketing Channels Supply Chain Competition Marketing Environment
Implications of marketing Who are our existing / potential customers? What are their current / future needs? How can we satisfy these needs? Can we offer a product/ service that the customer would value? Can we communicate with our customers? Can we deliver a competitive product of service? Why should customers buy from us?
The marketing concept choosing and targeting appropriate customers positioning your offering interacting with those customers controlling the marketing effort continuity of performance
Evolving Indian Consumer
The Indian Consumers Changing Spending Patterns Changing consumer behavior is catalyzing change inspending patterns, freeing up income for discretionary expenditure 27% 30% 32% 32% 36% 40% 2003 2008 2013 4% 4% 9% 5% 10% 20% 20% 20% 11% Food & Grocery Fuel, Transport & Communication Discretionary Expenditure Rent, Utilities & Education Savings & Investment
Shift to Thrift Redefining Value
Small Wonders Small Perk Me Up Products
Mummy ka Magic Stays Intact
Eating Out at Home Evolving Home Delivery Model
Taste Bhi, Health Bhi A very strong co-relation
Quality Wallss MOO Calcium Enriched !
Food On The Go Instant Pick Me Up
Eco Conscious A light shade of greenEco Conscious
Food As Discovery More Experimenting
The Food Connect Use of Social Media
POP will remain Supreme The final test
The changing Indian consumer The media explosion. Increase in disposable income. The rise of the great Indian middle class Increase in the number of earning young people Change in expenditure patterns Increase in the number of working women 38
What is Marketing ? Selling ? Advertising ?Any thing more?
SOME ISSUES ON MARKETING
Model of Consumer BehaviorMarketing Buyers Black Box Buyers ResponsesMixStimuli ? ? Psychological Memory Perception Motivation Product Personality Price Demographics What is purchased? Promotions When, Timing? Advertising How much? Environmental Place Family For what use? Culture
Examples of Buying Motives: Psychological or Functional? A senior wants to impress his date at the prom . His primary motive is ? Psychological
Examples of Buying Motives: Psychological or Functional? A girl wants to remember her grandmother on her birthday. Her primary motive is? Psychological
Examples of Buying Motives: Psychological or Functional? A homemaker needs a new washing machine and has had good experiences with Sears. Her primary motive is ? Functional
Examples of Buying Motives: Psychological or Functional? A teacher wants to buy a practical car to be used for family transportation. Her/His primary motive is ? Functional
Examples of Buying Motives: Psychological or Functional? A career woman always buys Liz Claiborne clothes. Her primary motive is? Psychological
Examples of Buying Motives: Psychological or Functional? An overweight 40 year old man wants to loose weight so that he can reduce his blood pressure. His primary motive is? Functional
Examples of Buying Motives: Psychological or Functional? A homeowner needs to mow their lawn. Their primary motive is? Functional
Consumer Buying Behavior Competency Functional Psychological Motive Motive The price is 40 cents off the regular price. It never needs ironing. Diamonds are forever. Serving you since 1971. Ninety-day warranty.
Consumer Buying Behavior Competency Functional Psychological Motive Motive Running shoe with built-in arch. Its all the rage colored action wear and style. Wheatiesthe breakfast of champions! Steel-belted radial tires warranted for 40,000 miles A watcha gift she will treasure always.
What is Marketing ?We use the word Marketing to describe such things as analyzing the needs of the people trying to guess what types of products they want estimate how much they will buy predict when they want to buy determine where they go to buy the stuff
What is Marketing ?. And, figure out the best price to sell it at - and can you still make a profit selling it at that price decide on promotional things to create awareness about the product look at the competition to see what they are doing with pricing, features etc.
Marketing is concerned with anticipating consumer demand and directing flow of goods from producers to consumers.Marketing has to do with matching producers outputs to consumers inputs [ needs & wants ].Serving the needs of customers is what business should be all about Marketing is the business function that interprets customer needs to the rest of the organization.Marketing should begin with the customer needs - NOT with the production process. Mkt. should anticipate needs.
Marketing - the formal definition Process of planning and executing the conception,