Modern marketing concepts

MODERN MODERN MARKETING MARKETING CONCEPTSCONCEPTS

BuzzMarketing

RelationshipMarketing

TeleMarketing

Web Marketing

MobileMarketing

Green Marketing

Cross-CultureMarketing

ModernModern Marketing Marketing ConceptsConcepts

GREEN MARKETING

Green or Environmental Green or Environmental Marketing consists of all Marketing consists of all activities designed to activities designed to generate and facilitate any generate and facilitate any exchanges intended to exchanges intended to satisfy human needs or satisfy human needs or wants, wants, such that the satisfaction of these needs and wants occurs, with minimal detrimental impact on the natural environment

The term Green marketing came into The term Green marketing came into prominence in the late 1980s and prominence in the late 1980s and early 1990s.early 1990s.

The American Marketing Association The American Marketing Association (AMA) held the first workshop on (AMA) held the first workshop on "Ecological Marketing" in 1975.The "Ecological Marketing" in 1975.The proceedings of this workshop proceedings of this workshop resulted in one of the first books on resulted in one of the first books on green marketing entitled "Ecological green marketing entitled "Ecological Marketing".Marketing".

GREEN MARKETING

The products those The products those are manufactured are manufactured through green through green technology and that technology and that caused no caused no environmental environmental hazards are called hazards are called green products.green products.

• Green products and Green products and its characteristicsits characteristics

• Products those are Products those are recyclable, reusable recyclable, reusable and biodegradable,and biodegradable,

• Products with Products with natural ingredients,natural ingredients,

• Products that have Products that have eco-friendly eco-friendly packaging i.e. packaging i.e. reusable, refillable reusable, refillable containers etc.containers etc.

Digital Tickets by Indian Railways: Recently IRCTC has allowed its customers to carry PNR no. of their E-Tickets on their laptop and mobiles. Customers do not need to carry the printed version of their ticket anymore.

No Polythene carry bags for free :-Forest & Environmental Ministry of India has ordered to retail outlets like BigBazar, D-Mart etc. that they could provide polythene carry bags to customers only if customers are ready for pay for it.

Challenges In Green Marketing

Need for Standardization New Concept Patience and Perseverance Avoiding Green Myopia

MOBILE MARKETING

MOBILE MARKETING : Is the use of the mobile medium as a communications and entertainment channel between a brand and an end-user.

Mobile marketing is marketing on or with a mobile device, such as smart phone .Mobile marketing can provide customers with time and location sensitive, personalized information that promotes goods, services and ideas. 

•Mobile marketing is getting phenomenally important, because of the penetration of handsets and the passion the audience has for mobile

SMS Marketing

Marketing through cell phones' SMS (Short Message Service)

Became increasingly popular in the early 2000s in Europe and some parts of Asia when businesses started to collect mobile phone numbers and send off wanted (or unwanted) content. On average, SMS messages are read within four minutes, making them highly convertible.

MMS Marketing

• MMS mobile marketing can contain a timed slideshow of images, text, audio and video. This mobile content is delivered via MMS (Multimedia Message Service). Nearly all new phones produced with a color screen are capable of sending and receiving standard MMS message.

• Brands are able to both send and receive rich content through MMS A2P (application-to-person) mobile networks to mobile subscribers. In some networks, brands are also able to sponsor messages that are sent P2P (person-to-person).

App-based Marketing

With the increasingly widespread use of smart phones, app usage has also greatly increased. Therefore, mobile marketers have increasingly taken advantage of Smartphone apps as a marketing resource. This allows for direct engagement, payment, and targeted advertising.

•WEB MARKETING: Encompassing email marketing, banner advertising, viral marketing, link exchanges, etc, internet marketing is a broad field indeed. Web marketing can be used to promote brand awareness for brick and mortar companies, or it can be used to drive traffic to a web site.

E.g. : Pop-Up On sites

Online Seizes More of the Advertising Mix

•80 % of advertisers include the Internet in their marketing mix

Advantages

• It allows the companies to save money, an aspect that is really taken into account by the companies since the online marketing campaigns don’t require a large amount of investment.

• On the internet everything can be measured, thus it’s easier for the companies to know almost instantly if their campaign is working or not, what company or user is interested in their products, from what cities or countries are they, etc.

Advantages

• It allows the companies to save money, an aspect that is really taken into account by the companies since the online marketing campaigns don’t require a large amount of investment.

• On the internet everything can be measured, thus it’s easier for the companies to know almost instantly if their campaign is working or not, what company or user is interested in their products, from what cities or countries are they, etc.

Disadvantages

Slow internet connections can cause difficulties. If the companies build too complex or too large websites, it will take too long for users to check them or download them and they will get bored eventually.

Other disadvantage is the cash on delivery system, since it doesn’t guarantee the 100% purchase of the product. This is also the case of thousands of users that dedicate themselves to daily mock big companies by ordering on the internet using false identities.

THE BUZZ MARKETIN

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Marketing buzz or simply buzz — a term used in word-of-mouth marketing — is the interaction of consumers and users of a product or service which serves to amplify the original marketing message.

The term "buzz marketing" originally referred to oral communication but in the age of Web, social media such as Facebook and Twitter are also being used to create marketing buzz.

Buzz marketing works because individuals

are easier to trust than organizations that may be perceived to have vested interests in promoting their products and/or services.

Examples

• Examples of marketing tools include brochures, press releases, and referrals.

• If a celebrity wears a certain branded clothing and attend a public gathering, that will create a buzz among fans of that particular celebrity and it will spread among customers by word of mouth instantly.

•A very successful word of mouth promotion creates a buzz.

advantages

• Cost effectiveness• Speed• Buzz marketing campaigns are easy to

be set up as it requires less effort such as initialing the buzz through celerity or other means.

• It increases the brand awareness and the reputation of the company quickly.

Advantages

advantages• Negative buzz• Selective attention• When the company wishes to stop

the buzz campaign it will be impossible to stop as people will not stop talking about the products.

• Over buzz created will result in loss of control where there may be situations such as stock outs resulting in customer dissatisfaction 

Disadvantages

TELEMARKETIN

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•It is the act of selling, promoting or soliciting a product or service by means of the telephone or by surveying consumer preferences through telephonic conversations

• Telemarketing is a form of direct marketing.

• The prospective customers are identified and qualified by various means, including past purchase histories, previous requests for information, credit limit etc.

• The most importantly used subcategories of telemarketing today are the Outbound and the inbound telemarketing.

• Outbound is the proactive marketing in which the customers either who exist already or the prospective ones are all contacted directly for the purpose of the marketing

Advantages

• provide a more interactive and personal sale service

• create an immediate rapport with your customers

• explain technical issues more clearly• generate leads and appointments• sell from a distance to increase your sales

territory• reach more customers than with in-

person sales calls• sell to both existing and new customers• achieve results that are measurable

Disadvantages• telemarketing can be resented -

particularly when dealing with business-to-consumer customers.

• customer lists may not always be clean and opted-out - this leaves you with a potential risk of breaking the law

• telemarketing has a negative image that could damage your business' reputation - if carried out poorly

• telemarketing has the potential to replace a sales team and this could lead to negative feelings among employees

• training staff can be time-consuming and costly

RELATIONSHIP RELATIONSHIP MARKETINGMARKETING

Relationship marketing is a marketing strategy in which a company seeks to build long-term relationships with its customers by providing consistent satisfaction.

Relationship marketing is designed to develop strong connections with customers by providing them with information directly suited to their needs and interests and by promoting open communication.

AIM•to create and to create and sell products sell products and services in and services in such a way that such a way that will build a will build a large and loyal large and loyal group of group of customerscustomers. .

• Relationship marketing is the process of attracting, maintaining, and enhancing relationships with key people

• Relationship Marketing approach achieves very high customer satisfaction and is highly profitable

Relationship Mktg., is based on the philosophy that customers are long-term assets that must be valued.

•Profitability comes from making existing customers happy, so they become loyal repeat customers.

•Profitability also comes from identifying your most profitable customers and having the courage to focus your efforts on them

Strategies• Developing a core service around which

to build a customer relationship• Customizing relationship to the

individual customer• Augmenting the core service with extra

benefits• Pricing service to encourage customer

loyalty• Marketing to employees so that they

will perform well for customers

CROSS CULTURAL MARKETIN

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Cross-cultural marketing is defined as the strategic process of marketing among consumers whose culture differs from that of the marketer's own culture at least in one of the fundamental cultural aspects, such as language, religion, social norms and values, education, and the living style.

Some Real World Examples for Cross-cultural Marketing

1. Product

Pizza Hut and Domino’s in India

• 1992: Paneer on a pizza!• 1997: Paneer on a pizza?• 2002: Paneer on a pizza.

Maggi as a snack not as a dinner and

succeeded in the market. This also reveals how culturally bounded practices impact the marketing

strategies. They also went along with curry flavour, tomato flavour, etc in

India.

Maggie in India

• Noodles were alright for dinner once in a while and it is accepted in other countries as well but it was unsuccessful in India. Since Indians consider idly, dosa, chappathi, etc as their dinner menu.

• Maggi as a snack not as a dinner and succeeded in the market. This also reveals how culturally bounded practices impact the marketing strategies. They also went along with curry flavour, tomato flavour, etc in India.

KFC and McDonalds in Sri Lanka MNCs like KFC and McDonald are giving

their primary concern to the price they charge from Sri Lankans since people in Sri Lanka are more conscious about the prices of product than the quality. Even the displays they use to show their products, specifically display the price of each product. This proves that these MNCs are amending their marketing strategies regarding price to suit Sri Lankan market.