1. PRESENTEDBY: SIDDHARTH ARORA SIDDHARTH YERRAM CHINMAY PATNAYAK RAMPRASAATH RSVARUNCHAPPIDIVIMARSH SRIVATSAVANKIT TENDULKAR G.CHETHN KRISHNA

2. What is Marketing??

Selling?

Advertising?

Promotions?

Making products available in stores?

Maintaining inventories?

All ofthe above, plus much more!

3. Marketing

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

-American Marketing Association

4. Marketing

Marketing is the sum of all activities that take you to a sales outlet. After that sales takes over.

Marketing is all about creating a pull, sales is all about push.

Marketing is all about managing the four Ps & Cs

5. The 4 Ps &4Cs Customer Solution Customer Friendly Communication Convenience 6. Marketing Management

Marketing managementis theart and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

7. Simple Marketing System Goods/services Money Information Industry (a collectionof sellers) Market (a collectionof Buyers) Communication 8. Difference Between - Sales & Marketing ? Sales trying to get the customer buy what the company produces Marketing trying to create the product space in the customers mind. 9. Scope What do we market

Goods

Services

Events

Experiences

Personalities

Place

Organizations

Properties

Information

Ideas and concepts

10. Core Concepts of Marketing Needs, wants demands Markets Marketing & Marketers Utility, Value & Satisfaction Xchange, Transaction Relationships Products 11. In order to understand Marketing let us begin withtheMarketing Triangle Customers Competition Company 12. A company is a form of business organization . It is an associationor collection of individual real persons and/or other companies, who each provide some form ofcapital. For e.g. : TATA GROUP OF COMPANIES COMPANY 13. Customer Anyone who is in the market looking at a product / service for acquisition, use or consumption thatsatisfiesa want or a need 14.

CUSTOMER has needs, wants, demands and desires

Understanding these needs is starting point of the entire marketing

These needs, wants arise within a framework or an ecosystem

Understanding both the needs and the ecosystem is the starting point of a long term relationship

15. How Do Consumers Choose Among Products & Services?

Value- the value or benefits the customers gain from using the product versus the cost of obtaining the product.

Satisfaction- Based on a comparison of performance and expectations.

• Performance>Expectations=>Satisfaction

• Performance < Expectations=>Dissatisfaction

16. Customers - Problem Solution

As a priority , we must bring to our customers WHATTHEY NEED

We must be in a position toUNDERSTAND their problems

Or in a new situationto give them a chance toAVOIDthe problems

17. A nalysisOfCompetition

Whoare your competitors?

Whatare their strengths and weaknesses?

Whathave been their strategies?

Howare they likely to respond to your Marketing plan?

18. Strategic Marketing

Strategic marketing management is concerned with how we will create value for the customer

Asks two main questions

• What is the organizations main activity at a particular time? Customer Value

• What are its primary goals and how will these be achieved? how will this valuebedelivered

19.

Strategic Planningis the managerial process of creating and maintaining a fit between the organizations objectives and resources and the evolving market opportunities.

Also called Strategic Management Process

All organizations plan strategically

Can be both Formal or Informal

20. Business Strategic-Planning Process 21. The Marketing Plan

A written document that acts as a guidebook of marketing activities for the marketing manager

22. CONTENTS ofMARKETING PLAN

Business Mission Statement

Objectives

Situation Analysis (SWOT)

Marketing Strategy

• Target Market Strategy

• Marketing Mix

• • Positioning

• • Product

• • Promotion

• • Price

• • Place Distribution

• • People

• • Process

Implementation, Evaluation and Control

23. Anything that is offered to the market for attention, acquisition, use or consumption that satisfies a want or a needProduct 24. Types of Products Consumer Products Industrial Products PRODUCTS Services 25. Product Items, Lines, and Mixes Product Item Product Line Product Mix A specific version of a productthat can be designated as adistinct offering among an organizations products. A group of closely-relatedproduct items. All products that anorganization sells. 26. Product Mix

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

27. ITC Limited Product Lines & Mix SUNFEAST :- CONFECTIONARY PRODUCTS JOHN PLAYERS :- CLOTHING BRAND 28. CLASSMATE :- STATIONARY PRODUCTS TOBACCOPRODUCTS FIAMA DI WILLS :- PERSONAL CARE 29. What is a Service?Defining the Essence

Anact or performanceoffered by one party to another (performances are intangible, but may involveuse of physical products)

An economic activity thatdoes not result in ownership

A process that creates benefits byfacilitating a desired changein customers themselves, or their physicalpossessions, or intangible assets

30. Some Industries - Service Sector

Banking, stock broking

Lodging

Restaurants, bars, catering

Insurance

News and entertainment

Transportation (freight and passenger)

Health care

Education

Wholesaling and retailing

Laundries, dry-cleaning

Repair and maintenance

Professional (e.g., law, architecture, consulting)

31.

Intangibility Services are intangible cannot be seen, tasted, felt, heard or smelled before purchase.

Inseparability -Services are produced and consumed simultaneously.

Variability or Heterogeneity Services are highly variable

PerishabilityServices cannot be stored.

Non Ownership -Services are rendered but there is no transfer of title

Major Characteristic of Services 32. The Marketing Mix

The conventional view of the marketing mix consisted of four components (4 Ps):Product, Price, Place and Promotion .

Generally acknowledged that this is too narrow today; now includes ,

P rocesses ,

P roductivity[technology ]

P eople[employees],

P hysical evidence

Marketers today are focused on virtually all aspects of the firms operations that have the potential to affect therelationshipwith customers.

33. The 8Ps of Integrated Service Management vs. the Traditional 4Ps

Product elements

Place, cyberspace, and time

Process

Productivity and quality

People

Promotion and education

Physical evidence

Price and other user outlays

34. The Give and Get of Marketing 35. Stages of Customer Interaction 36. Are companies trulymarketing-savvy and customer - centric? 37.

Myth 1 The larger the range of products, the more customer-centric I am.

• Mythbuster The range of products has

• emerged from being

• competition-centric.

38.

Myth 2 Better technology leads to

better customer service.

• Mythbuster Technology

• alone does not deliver,

• helps people do.

39.

Myth 3Launch a product and the customer will start

using instantly.

-Give a customer a card and he will learn how to play

with it immediately

• Mythbuster Customers need

• To be educated too

40.

Myth 4 Just advertise and - You will sell.

• Mythbuster Advertising will only sell,

• Not retain customers.

41. Myth 5 No difference between marketing & selling

• Mythbuster selling is the end of the deal, marketing is the process that promotes sales

42. Myth 6 In the absence of relationshipstrust builds financial brands

• Mythbuster T rust is not a differentiator at all it is the very minimum that the customer expects!!

43. So whatthe differentiatorbe :

Technology ?

Brand ?

44. The real differentiator ofcustomer centricity in a commoditised world of financial products -Customer Service ! 45. References :

Wikipedia

MANAGEMENT- PRINCIPLES,PROCESSES AND PRACTICES.

FUNDAMENTALSOFMANAGEMENT

46.

Thank you

Maa chudaye pom