IGNOUMARKETING FOR MANAGERS MS-6R K SONI

ASSISTANT REGISTRAR,IGNOU, Regional Centre, RDVV Campus, Jabalpur

MARKETING FOR MANAGERS

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1. 2. 3.

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4. 5. 6.

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MARKETING AND ITS APPLICATION MARKETING PLANNING AND ORGANISATION UNDERSTANDING CONSUMERS PRODUCT MANAGEMENT PRICING AND PROMOTION STRATEGY SALES DISTRIBUTION STRATEGY AND CONTROL

?I G N O UIS IT SELLING ? IS IT ADVERTISING ? IS IT PROMOTION ?

WHAT IS MARKETING

STORY

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One of the best marketing strategies everFather: I want you to marry a girl of my choice. Son: "I will choose my own bride!" Father: "But the girl is Bill Gates' daughter." Son: "Well, in that case - ok" Next: Father approaches Bill Gates. Father: "I have a husband for your daughter." Bill Gates: "But my daughter is too young to marry!" Father: "But this young man is a vice-president of the World Bank." Bill Gates: "Ah, in that case - ok" Finally Father goes to see the president of the World Bank. Father: "I have a young man to be recommended as a vicepresident. " President: "But I already have more vice- presidents than I need!" Father: "But this young man is Bill Gates's son-in-law." President: "Ah, in that case - ok"

Kotlers Definition of Marketing

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The marketing concept holds that the main task of the company is to determine what a given set of customers needs, wants, and values are and to dedicate the organization to delivering the solution.

DEFINITION

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Marketing

is concerned with anticipating customer demand and directing the flow of goods from producers to consumers has to do with matching producers outputs to consumers activities (wants, needs)

Marketing

STEPS IN MARKETING

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analyzing

the needs of the people trying to guess what types of products they want estimate how much they will buy predict when they will want to buy determine where they go to buy the stuff

STEPS IN MARKETING

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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.

HUMAN NEEDS

I G N O U PSYCHOLOGICAL PHYSIOLOGICAL

NEEDS NEEDS

SOCIOLOGICAL

NEEDS

The Four Ps of Marketing

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Product Place Price Promotion

MICRO MARKETING

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The performance of activities that seek to accomplish an organizations objectives by anticipating customer needs and directing the flow of needsatisfying goods and services.

MACRO MARKETINGI G N O U

A social process that directs an economys flow of goods and services to effectively match supply and demand and to meet societys objectives.

MARKETING OF SERVICS

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What makes it different from marketing products?

Characteristics of Services

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Intangibility perishability inseparability variability client

relationships

Nature and Characteristics of a Service

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The Product-Service Continuum

I G Sugar NPure Tangible Good GOODS PURE TANGIBLEPURE Pure Service

Restaurant

College Education

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SERVICE

Intangibility

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Hard

to grasp, concept is abstract often necessary for

Dramatization

concept Hard

to separate the service provider and the service

Perishability

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Services

cannot be stored or held in inventory. not used when available, they go to waste.

If

Inseparability

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Outlet

accessibility can limit the area covered by the service. is important: Image affects the perception of the service.

Image

Variability

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Service

quality tends to vary considerably. from your hair dresser vs. Big Mac

Haircut

Client Relationships

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Relationships

between service organizations and customers are often close for loyalty long

Potential

term

SEGMENTATION

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Segmentation is the process of dividing the market into groups based upon important consumer characteristics. Why Segment? What is relevant? What properties should segments have?

Why Segment?

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Better focus on customer needs Promotes new product ideas Helps develop effective marketing mix strategy Allocation of marketing resources to different products depending upon segment attractiveness.

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Effective Segmentation

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The

size of the segment, the number of segments. Is the segment big enough to make it worthwhile? Can you access the segment? Have you got the mix right for each segment?

Types of Segments

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Demographic Operating

Variables Purchasing Approaches Situational Factors Personal Characteristics

POSITIONING

I G N O U Product positioning refers to the place an offering occupies in consumers minds on important attributes relative to competitive offerings

Product Differentiation

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Product differentiation is a strategy that involves a firms using different marketing mix activities to help consumers perceive the product as being different and better than competing products.

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THANK YOU