Special Studies in Marketing

BMS 2012

Reema Rijhwani

Agenda Section 1 • Principles of Marketing & Branding • Promotional Activities

Section 2• Consumer Behaviour

Section 3 • Communication

Section 4 • Media (Planning & Buying)

Market (Mercor – to buy Latin)• Potential + existing customers sharing a common

need/want, able & willing to engage / enter in exchange to satisfy their needs/wants

Marketing • Identify, create & manage demand to provide

value to a customer for a profit – Kotler

Marketing Management • Optimal utilisation of resources to achieve

marketing objectives; Demand Management

Marketing Mix

Terminologies

Value Proposition • Bundle of benefits a product offers to fulfill

customer/consumer needs and wants Prosumer • Producing consumers, active, regular and

influencing consumers who also initiate feedbackProduct Line & Vertical extension • In different kinds & for all pockets

Product Line Extension Product Vertical Extension

Rs. 20 / -Rs. 10 / -Rs. 5 / -

Product Mix • Width – No. of product lines• Depth – No. of variations in a product line • Mix – Widht x Depth

Generic Product • Identical to the category

Marketing Research

Types 1.Primary• Research Approaches – Survey, Behavioural

Data, Experimental research• Research Instruments – Questionnaires,

Psychological tools (laddering techniques, depth interviews), Mechanical devices, Qualitative measures

2. Secondary Research• Internal Sources • Government Publication • Periodicals & Books• Commercial Data

Marketing Research Process

Segmentation

• Where to compete • Identify buyer subsets with similar needs

demonstrating similar buying behaviour

Effective Segment Measurable, Substantial, Accessible,

Differentiable, Actionable

• Geographic – Region, City, Metro, Climate

• Demographic – Age, Family size, Family Life cycle, Gender, Income, Occupation, Education, Religion, Race, Generation, Nationality, Social Class

• Psychographic – Lifestyle, Personality

• Behavioural – Occasions, Benefits, User status, Usage rate, Loyalty status, Readiness stage, Attitude toward product

Targetting

• Which product to which market1.Post Segmentation – Single segment, Selective

specialization, Product Specialization, Marketing specialization, Market Coverage

2.Mass Marketing3.Differentiated Marketing4.Niche Marketing

Differentiation

• How to compete • Add meaningful & valuable differences to

distinguish company’s offering from competitors

• Tangible – Performance, Quality, Rate, Range, Service, Technology, Utility, Value, Convenience, Form/features

• Intangible – Status, House value, Brand perception, Service, People, Image

Branding

Brand• A promise • Strategic Asset• Value Proposition

Positioning

• Creating distinct and valued, physical and perceptual differences between one’s product and its competitors as perceived by the target customer

• Create a space, identity in the minds of the buyer

• Managing perception resulting in understanding brand identity and creating an image

Types of Positioning• Attribute & Benefit, Use, User, Category,

Quality, Value, Price

“Dare to wear Black” “Bada Bisleri, same price”

“Surf Excel hena!”“Beginning of good things”

Positioning Strategies • Single – Camry – Touch Perfection• Double – Tavera – Confortable Family Car• Triple – Liquidity, safety, returns – MF’s• Multiple – Kellogg's - Nutritious for kids,

Healthy for women, Quick and healthy breakfast, Nostalgic association

Guidelines for Effective Positioning• Target Audience & Product knowledge

(differentiation, mass, technology etc)• Competitors • Clear or unambiguous• Addresses needs, wants or benefits (value) • Credible & believable

Effective Positioning Statement “to (target group & need) our (brand) is

(concept) that (point of difference)”

“For upscale American families, Volvo is the family automobile that offers maximum safety.”

"No.2, We Try Harder"

The End