AN OVERVIEW Prof. S.K.

Sharma

Marketing and Its Applications Marketing planning and Organisation Understanding Consumers Product Management Pricing an Promotion Strategy Distribution and Public Policy

Marketing is the performance of business activities that directs the flow of goods and services from producer to consumer or user
PRODUCER
Product

CONSUMER Need

Marketing activities

Product C

Promotion

Price

Place

Needed to create and retain a satisfied customers Strategies STDP Strategies Marketing Mix Strategies

Segmentation
Aggregating process A cluster of people with similar needs. A Homogeneous group of customer who will respond to a marketing mix in a similar way.

Targeting
Once the market segment is defined, it has to decide how many and which one to target.

Differentiation

Product Differentiation Service Differentiation Channel Differentiation Personnel differentiation

Positioning

Its a perception about your offering in the minds of the consumer.

What is Product Mix

Consists of

Set of all products offered by an organisation to its customers

Width Length Depth Consistency

Product-Mix Width and Product-Line Length for PepsiCo India Product-Mix Width Beverages Pepsi Mountain Dew Aquafina Mirinda 7-Up Dukes Soda Dukes Mangola Slice Juice Tropicana Orange Nature Sweet Apple Grape Pineapple Tomato Mixed Fruit Snacks Lays Cheetos Lehar Numkeens Nutyumz Kurkure

Product-line Length

Expansion of product mix Contraction of product mix Altering existing products Positioning the product

Is concerned with all the decisions involved in the getting right product to the target markets place.

Distribution Channels

any series of firms that participate in the flow of products from producer to its final consumers.
Manufactures or producer Raymond's Toyota Wholesaler

Nestle Wholesaler Wholesaler

Retailer

Retailer

Retailer

Consumer

Push Strategy
Pull Strategy Factors

directing communications to channel members

directing communications to end users

type of product/market buyer readiness stage product life-cycle stage

Marketing and planned economic growth How to view the marketing effort Significance of macro and micro marketing General role of marketing
Stimulates potential aggregate demand and thus enlarge the size of the market It helps in the discover of entrepreneurial talent

Marketing in agriculture, basic industries, mining and plantation Intermediate industrial goods Semi-industrial products Export trade & services like tourism and banking

4 Ps Social Marketing planning system

The services sector has been growing at a rate of 8% per annum in recent years More than half of our GDP is accounted for from the services sector This sector dominates with the best jobs, best talent and best incomes

-Theodore Levitt-

It is the part of the product or the full product for which the customer is willing to see value and pay for it.

Economic well being increases the demand of services Changing lifestyle Complexity of the product

 Intangibility Perishability

Inseparability
Variability Client

relationships Right of owner-ship

 Hard

to grasp, concept is abstract

often necessary for concept

Dramatization Hard

to separate the service provider and the service

 Services
If

cannot be stored or held in inventory.

not used when available, they go to waste.

 Outlet

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

Image

 Service

quality tends to vary considerably. from your hair dresser vs. Javed

Haircut

Habib

 Relationships

between service organizations and customers are often close

for loyalty longterm

Potential

 It

is not taken to the service, we merely experience it. e.g. Services of a doctor, lawyer, teacher, mechanic, etc..

Physical goods tangible homogeneous Production and distribution are separated from consumption

Services intangible heterogeneous Production, distribution and consumption are simultaneous processes

A thing
Core value processed in factory Customers do not participate in the production process Can be kept in stock Transfer of ownership

An activity or process
Core value produced in the buyerseller interaction Customers participate in production Cannot be kept in stock No transfer of ownership

Product Place Prize Promotion People Physical Evidence Process

Product activities Pricing activities

Quality, features, style, brand name, packaging, sizes, services, warranties, returns
Target customers, cost, competition, the law, social responsibility

Promotional activities

Place or Distribution related activities

Physical distribution

Advertising, personal selling, sales promotion, publicity and public relations

Transportation, warehosuing and storage, Order processing, Inventory control, Location

Channels of distribution

Current Marketing Situation Identification of Problems and Opportunities Defining Objectives Designing the Marketing Strategy Developing the marketing programme

The Relationship between Marketing Mix and Marketing Strategy The concept of Optimum Marketing Mix

New product development and marketing mix Product life cycle and marketing mix Role of Advertising in marketing mix Role of price in marketing mix

In respect of the network of institutions like wholesalers and brokers dealing in a product To refer to the nature of demand for the product, as when we speak of the market for soap

The concept of segmentation

Market Segmentation versus product development Benefits and doubts about segmentation What is grouped in forming segments
What, how, where, when, why, who

Relationship of a segment to a market

Geographic
Region, City or Metro Size, Density, Climate

Demographic
Age, Gender, Family size and Life cycle, Race, Occupation, or Income ...

Psychographic
Lifestyle or Personality

Behavioral
Occasions, Benefits, Uses, or Attitudes

Personal Characteristics

Demographics

Situational Factors

Bases for Segmenting Business Markets

Operating Characteristics

Purchasing Approaches

Methods that companies use Logical division Perceptual mapping technique Considerations in using perceptual maps

General factors

Specific Segmentation factors

Segment durability Mobility Visibility accessibility

Company trust Size & growth potential Investment needed Profitability Risk Competition

Specialisation Departmentalisation Standardisation Formalisation Centralisation Evaluation Structure

The changing role of Marketing Organisation

Simple sales department Sales department with some marketing function Separate marketing department Integrated marketing department Marketing oriented organisation

Considerations involved in designing the marketing organisation

Statement of objective and goals of the firm Nature of the product/Line of activity Areas of operation Nature of Industry Computerisation & up-gradation of information system External environment & Government intervention.

Methods of designing the Marketing Organisation

Functional Organisation Product Management Organisation Market Centered Organisation

Organisation of Corporate Marketing

No corporate marketing support Minimal corporate marketing support moderate corporate marketing Strong corporate marketing

The Context of Marketing Decisions Definition of Marketing Research Purpose of Marketing Research Scope of Marketing Research Marketing Research Procedure

Marketing Research in India Problems of conducting marketing research

Problem Definition Research design Field Work Data Analysis Report presentation and implementation

Sales & Market Analysis

Determination of market potential Determination of market share Sales forecasting Design of market segmentation studies Target market Distribution channel studies Determination of market characteristics Determination of competitive information
Evaluation of new product ideas Testing for new product acceptance Evaluating the need for change in product information Testing package design Testing of product positioning

Product Research

Business Economics and corporate research

Studies of business trends Pricing studies Diversification studies Product mix studies Plant & warehouse location studies

Advertising Research

Audience Measurement Determining the most cost effective media plan Copy Testing Determining advertising effectiveness Consumer behaviour research

Importance of consumer behaviour for marketers Types of consumers Buyers v/s Users

A Simple Model of Consumer Decision Making

External Influences
Input Firms Marketing Efforts 1. Product 2. Promotion 3. Price 4. Channels of distribution Consumer Decision Making Need Recognition Process Prepurchase Search Evaluation of Alternatives Psychological Field 1. Motivation 2. Perception 3. Learning 4. Personality 5. Attitudes Experience Sociocultural Environment 1. Family 2. Informal sources 3. Other noncommercial sources 4. Social class 5. Subculture and culture

Postdecision Behavior
Output Purchase 1. Trial 2. Repeat purchase

Postpurchase Evaluation

Factors influencing consumer behaviour

External Environment
Individual Determinants
culture
Problem Recognition
Information search Purchasing decision

others

learning

perception

family personality

Postpurchase behaviour

subculture motivation

attitudes social group social class

What is a decision? Process of decision making

Involvement Alternative differentiation Time pressure

What to buy How much to buy Where to buy When to buy How to buy

Buying Roles Buying Behaviour

Extensive problem solving Routinized buying behaviour Variety seeking behaviour

Identify the problem recognition

Gather information about the product and brands

Evaluate the alternatives and select the best possible alternative

Purchase decision/ buying the product

Post purchase Evaluation

Post purchase use and disposal

Horward-Seth Model

Engel-Kollat-Bloackwell Model
Information processing Central control unit Decision process Environmental influences Influencers Gatekeepers Deciders Preparers Buyers users

Inputs Perceptual & learning constructs Outputs Exogenous or external variable

Model of family decision making

Model of industrial buyer behaviour

Demographic Characteristics Income and consumption characteristics Characteristics of organisational consumers Geographic characteristics Market potential Socio cultural characteristics

Anything that can be offered to a market to satisfy a want or need Physical goods Services Experiences Events Persons Places Properties Organizations Information Ideas

Marketer has to turn core benefit into basic product Bank accounts like savings account, current account

Encompasses all possible augmentation and transformations The the fundamental service or product might undergo in future product the customer is buying Anywhere banking, ATM sharing, CRM In a priority bank thebanking, customer is looking for portfolio management security of his money

A product that exceeds customer expectations A set of attributes and conditions the buyers A bank can offer facilities like ATM/Debit expect when they buy the product cards, Telebanking, Internet Banking and The bank customer would expect a cheque book, also other financial services locker and other deposit products like FD, RD

Product mix has a certain

Width Length Depth Consistency

Product-Mix Width and Product-Line Length for PepsiCo India Product-Mix Width Beverages Pepsi Mountain Dew Aquafina Mirinda 7-Up Dukes Soda Dukes Mangola Slice Juice Tropicana Orange Nature Sweet Apple Grape Pineapple Tomato Mixed Fruit Snacks Lays Cheetos Lehar Numkeens Nutyumz Kurkure

Product-line Length

Case Study
The Times Group

Print

Net

Entertainment

Retail

The Times Group contd..

Print

The Times Group contd..

Net

GROUP SITES

The Times Group contd..

Entertainment

The Times Group contd..

Retail

B. Product line Length

a. Objectives b. Cycle

1. Line Stretching
a. Down market Stretch b. Up market Stretch c. Two way stretch

2. Line Filling
Just-noticeable difference

3. Line Modernization, Featuring and Pruning

The Product Life Cycle Concept Marketing Mix at different stages

Strategy

Introduction

Growth

Maturity

Decline

1. Objective 2. Focus 3.Customer Targets 4.Competitor 5.Differentiated Advantage Marketing MIX 1. Product

Aggressive Entry Non- Users Innovators

Maximize Share New Segments Early Adopters Growing Number Brand Image Growth Extension & Enhancement Lower High Brand Performance Intensive

Boast Profits Defend Share Majority

Milk Products Cut Costs Laggards

Few Product Performance Introduction Basic

Many Price & Service Maturity Differentiation & Variety Lower Falling Loyalty Intensive

Declining Price Decline Rationalize Range Stabilizing Low Selective Rationalize

2. Price 3.Promotion 4. Advertisement Forms. 5.Distribution

High High Awareness Selective

Stages in new product development Ideas generation Screening of ideas Concept testing Product designing and evaluation Product testing Product launching

Definition: A brand is a name, Term, Sign, Symbol, Brand or combination of them intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
-American Marketing Association
Trademarks legal right to the exclusive use of that name or mark

Branding to be or not to be.. Whether Produce Manufacturer Brands or Distributor / Private Brands

Which Brand Name/s to use

Whether to use Line extensions, Brand Extensions, Multi Brands, New Brands or Cobrands

A Brand name should

suggest something about the products benefits suggest the product or service category suggest concrete, high imagery qualities be easy to spell, pronounce, recognize, and remember be distinctive not carry poor meanings in other countries and languages

What is packaging Packaging Industry

Used materials : Metals, plastics, wood, paper, glass, laminates, polysters, etc. Protection, Appeal Performance Offer convenience to the end-users Cost effective

Functions of packaging

Legal dimensions of packaging

Statutory requirements
Net weight, when packed Date of manufacture Date of expiry Directions of storage MRP Directions for use

Price
Three variables that determine profit: Sales Volume

X Price - Cost = Profit

Benefit

Seller

Customer

Price

Demand
Competition

Price
Higher Higher Premium Strategy (Mercedes,Evian) Overcharging Strategy (Cielo) Lower Good-Value Strategy (Amul) Economy Strategy (Akai,OK)

Lower

Quality

Survival Low Prices to Cover Variable Costs and Some Fixed Costs to Stay in Business. Current Profit Maximization Choose the Price that Produces the Maximum Current Profit, Etc.

Market Share Leadership Low as Possible Prices to Become the Market Share Leader.
Product Quality Leadership High Prices to Cover Higher Performance Quality and R & D. Market Skimming Initially setting up High Prices to Skim the market

Survival
(Mobile Operators)

Maximum current profit

(Aiwa)

Maximum market share

(Kodak KB)

(Nokia Handsets / Intel Micro Chips)

Maximum market skimming

Product-quality leadership
(Maruti)

Fixed Costs (Overhead) Costs that dont vary with sales or production levels. Executive Salaries Rent

Variable Costs

Costs that do vary directly with the level of production.

Raw materials

Total Costs
Sum of the Fixed and Variable Costs for a Given Level of Production

Markup Pricing Target Return Pricing Perceived Value Pricing Value Pricing Going-Rate Pricing

Sealed-Bid Pricing

Markup price =

Where unit cost is variable cost + (fixed cost/unit sales)

unit cost (1-desired return on sales)

Target return pricing (target ROI) = Unit cost + desired return X invested capital Unit sales Break even volume = fixed cost Price variable cost

Value-based Pricing
Pricing strategy reflects the beliefs and attitudes of the customer. Perceived price/quality relationship. Price is based on an understanding of the value of the product as perceived by the customer.

Value-Based Pricing
Cost-Based Pricing Value-Based Pricing

Product Cost Price Value Customers

START

Customer Value Price Cost Product

Pricing Methods
Going-Rate
Company Sets Prices Based On What Competitors Are Charging.

Sealed-Bid
Company Sets Prices Based On What They Think Competitors Will Charge.

Psychological pricing
Reference Price

Sometimes price is equated to quality

Influencing of other marketing-mix elements

The final price must be take in to account the brands quality and advertising relative to competition

Company pricing policies

The Price must be consistent with company pricing policies

such as dealers and distributors

Impact of price on other parties

Adjusting prices to account for the Geographical Location of Customers

Marketing Management Philip Kotler US Price $124.67 India Price Rs. 310

Harry Potter J. K. Rowling

US Price $17.99 India Price Rs. 636

Discount & Allowance

Reducing Prices to Reward Customer Responses such as Paying Early or Promoting the Product.

Cash Discount Quantity Discount Functional Discount Seasonal Discount Trade-In Allowance Promotional Allowance

 Reducing Prices to Increase Short-Run Sales

Reducing Prices to Reward Customer Responses such as Paying Early or Promoting the Product.

Product-Mix Pricing Tactics:

Product-line Pricing Two-Part Pricing

Optional-feature pricing Captive-product pricing

By-Product Pricing Product-Bundle Pricing

Product Mix Pricing Strategies

Optional-Product Pricing
Pricing Optional or Accessory Products Sold With The Main Product i.e. Car Options such as a CD player

Captive-Product Pricing

Product Mix Pricing Strategies

Pricing Products That Must Be Used Along With The Main Product e.g. Printer cartridges

By-Product Pricing
Pricing Low-Value By-Products To Get Rid of Them e.g. Sugarcane

Product-Bundle Pricing
Bundles Of Products Sold Together at a Reduced Price e.g. Gillete razor blades & foam

Setting Price Steps Between Product Line Items

The company needs to benchmark its costs against its competitorscost to learn whether it is operating at a cost advantage or disadvantage. The company also needs to learn the price and quality of competitors offers

Has Competitor Cut Price?

No

Hold Current Price; Continue to Monitor Competitors Price.

Yes

Will Lower Price Negatively Affect Our Market Share & Profits?

No

Reduce Price
Yes

Can/ Should Effective Action be Taken?

No

Raise Perceived Quality

Improve Quality & Increase Price Launch Low-Price Fighting Brand

Yes

Sender

Encoding

Message Media

Decoding

Receiver

Noise
Feedback

Response

Sales Promotion

Advertising

Marketing Communication
Public Relations

Direct Marketing

Personal Selling

Direct Marketing

Public Relations Personal Selling

Special Offer

Sales Promotion

Advertising

A paid nonpersonal communication about an organization and its products transmitted to a target audience through mass media

Mass Media

Newspapers TV Radio Magazines Billboards Eg : Johnson & Johnson

Consists of a diverse collection of incentive tools, mostly short term, designed to stimulate quicker or greater purchase of particular products or services by consumers or the trade

Types of sales promotions

Coupon Point-of-Purchase Premium: free/ reduced-price Trade Show Contests & More

Britannia Khao World Cup Jao

Promotional tool Identify, establish, and maintain beneficial relationships between a company and its stakeholders

Benefits
Corporate visibility Image Building Product Information

Patni Computers i-flex solutions

Promotional tool in which a salesperson communicates one-on-one with potential customers

Advantages

Immediate response Tailored message Ability to measure effectiveness

Disadvantages

Relies on ability of sales rep. Expensive per contact

JCI Franco Indian Pharma

Direct Communications with Carefully Targeted Individual Consumers to Obtain an Immediate Response
Face-to-Face Selling Direct-Mail Marketing

Online Marketing

Kiosk Marketing

Catalog Marketing

Direct-Response TV Marketing

Telemarketing

Tracmail Rohini International

Push Policy
Promoting a product only to the next institution down the marketing channel Promoting a product directly to consumers to develop stronger consumer demand that pulls products through the marketing channel

Pull Policy

Type of product
Target Audience Determinants Company Policy Budget Stage in the PLC Nature of market

After Determining Its Objectives, the Marketer Must Set the Communications Budget for Each Product and Market. Affordable Percentage of Sales

Based on What the Company Can Afford

Based on a Certain Percentage of Current or Forecasted Sales

Objective-and-Task

Based on Determining Objectives & Tasks, Then Estimating Costs

Based on the Competitors Promotion Budget

Competitive-Parity

How advertising works? Types of advertising Role of advertising Advertising expenditure Advertising management Setting advertising objective Developing advtg. Copy and message Selecting and scheduling media Measuring advertising effectiveness Coordinating with ad agency Publicity
Use of publicity Measuring effectiveness of publicity

Role of personal Selling Types of selling jobs

The selling process

Merchandise deliveries Inside order-taker Outside order-taker Missionary salesperson Sales engineer Tangible product seller Intangible product seller

Preparation Prospecting Preapproach Approach Sales presentation Handling objectives Closing the sale Post-sale follow-up

Sales promotion consists of a diverse collection of incentive tools, mostly short term, designed to stimulate quicker and or greater purchase of particular products/services by consumers or trade -Kotler

Below the line

Non personal promotional effort that are designed to have immediate impact on sales Employed for a pre-determined limited period to increase consumer demand or stimulate market demand

Sales promotion offers an incentive to buy Encompasses everything that is outside of advertising, PR and DM Uses advertising, PR and DM to deliver the sales promotion Can be planned to increase sales over a long period and not necessarily about immediate results (privilege / mileage points)

Results ! - immediate / quick boost to sales Results over finite period of time - v/s advertising or PR Results are measurable Easy and inexpensive to implement Costs & efficiency of mass media / advertising has risen considerably

Product managers face pressure to increase sales Companies face more competition Consumers have become more deal oriented

Sales Promotions work!

Consumer decision making process (except

for low cost, low involvement impulse pur.)

Awareness Information gathering Pre purchase evaluation decision PURCHASE Post purchase evaluation

Awareness Advt / PR Information gathering Pre purchase evaluation Per Sell Decision SP PURCHASE Post purchase evaluation

Lowers price - use of coupons, discounts Add value - value packs, extra free

It alters the price / value relationship that the product offers the buyer

Everybody loves freebies Consumers have a reason to purchase the product NOW Justifies post purchase evaluation

Sales promotions help shape buying patterns - Annual sales Attract new audiences - trials for new products Increase sales - freebies, buy 1 get 1 free Increases profits Helps move stock / liquidate inventory Increases awareness - reach new buyers

Encourages the consumer to buy more than usual on a single shopping visit Reminder of product, especially when a new product / competitor is about to launch Improving TOM recall of the brand if promo is advertised in mass media Demoralise newly launched brands

Can seem like last minute panic measures and that can signal failure Can give an impression of hard sell Greed for sales - promos are often not related to the strategic elements of the brands mktg. mix Often viewed as simple reactionary techniques to increase sales and profits Dilutes brand value - discount brands


Price deals Discounts Price pack deals Samples Rebates Sweepstakes/contest s Frequency rewards Demos POP

Trade allowances Dealer loader Trade contests POP Displays Training programs Push money / Spiffs Exhibitions

All India promo Aggressive use of mass media Consumer gets an assured gift on purchase of any Samsung product 100 cr worth of prizes on offer Sms 16 digit pin and the gift u get wl b smsd 2 u.

Cash in on Diwali purchases

Consumer promotion scheme Packaged as a coconut which cons picks on purchase of a Samsung product Breaking the coconut reveals a chance to win a gift Strong consumer acceptance helped co to achieve a growth of 35% in sales over last year - same period

Tata Motors celebrated 50 years Offer to test drive any Tata car - fill a form - and lucky winners could win Prize Indica V2 Petrol Buzz / Hype / Awareness Mass media - TV / Press / DM Helped build / gather data base

Buzz around Petrol

Set

sales promotion and merchandising objectives. What is your target audience? Establish a tentative sales promotion and merchandising budget. Select sales promotion and merchandising techniques.

Developing a Sales Promotion and Merchandising Plan

Select

media for distributing promotions. Decide on timing of sales promotions and merchandising. Pretest sales promotions and merchandising. Prepare final sales promotion and merchandising plan and budget. Measure and evaluate sales promotion and merchandising success.

Coordinate with mktg

Know when to break

Specific objectives Know Basic techniques Simplicity Know your target

Support brand image Reinforce advertising

Creativity
Attn grabbing visuals

Be clear

What is a sales forecast? How to prepare a sales forecast? Product sales determinants
Consumer non-durable goods Consumer durable goods Industrial goods Breakdown approach Market build-up approach

Approach to sales forecasting

Methods of forecasting

Status of forecasting method usage The evaluation of forecasts Computerised sales forecasting Relating the sales forecast to the sales budget an profit planning

Executive Judgement Surveys Time series analysis Corelation and regression methods Market tests Combining forecast and using judgement

Importance of channel of distribution Alternative channels of distribution

Direct selling Mercantile Agents
Brokers Commission agent Wholesalers Retailers

Merchant Middlemen

Functions performed by retailers Services rendered by the retailers Effective coordination between wholesaler and retailers Types of retailers
Department stores Co-operative stores Multiple shops or chain stores

Role of middlemen in Indian Economy Selecting an appropriate channel

Physical distribution tasks

The type of product Nature and extent of the marker Existing channels for comparable products Buying habits of consumers Cost involved in distribution

Location of fixed facilities Specific issues relating to maintenance of stocks

Location of manufacturing facilities Location of warehouses Mode and method of transportation Inventory decisions Using external distribution agency

Selling and sales management Recruitment and selection of salesmen Training of sales personnel Motivating the sales personnel Controlling the sales personnel

Regulatory role of the government Role of government in marketing in developing economy Government control and marketing decision making process Impact of government control on product decision Impact of government control on pricing decision Impact of government control on promotion decision Impact of government control on channel and distribution decision

What is cyber marketing Cyber marketing and conventional marketing

Interconnectivity Interactivity Involvement Information Individualisation integrity

Cyber marketing model The nature of cyber marketing

Customer profiling, segmentation and targeting Product planning Branding Pricing decision Advertising and sales promotion Distribution Marketing research

Limitations of cyber marketing

Limits of digitisation Shopping experience Security issues Internet access density Customers used to freebies Dot.com bust

Attracting traffic to the internet site

Global network of interconnected networks.

Includes millions of corporate, government, organizational and private networks.

Types of network forming internet Intranet Extranet Web

Process of growing & promoting an organization using online media

Ties creative and technical aspects of internet.

Creating, communicating and delivering value to customers. Managing customer relationship.

Create Awareness. Generate Interest. Disseminate Information. Create an Image. Create a Strong Brand.

Relatively Inexpensive. Wide reach. Allows research, purchase of products and services on convenience. Quick Response.

One-to-one vs. one-to-many approach Demographics targeting vs. behavioral targeting. Measurability . Response and immediate results.

Dependant on technology. Rigid mindset. Virtual aspect. Security Concern. Maintenance Cost. Global competition.

Your specialist marketing expertise. A new, innovative product or service. Location of your business. Quality processes and procedures. Any other aspect of your business that adds value to your product or service.

Lack of marketing expertise. Undifferentiated products or services. Location of your business. Poor quality goods or services. Damaged reputation.

A developing market such as the Internet. Mergers, joint ventures or strategic alliances. Moving into new market segments that offer improved profits. A new international market. A market vacated by an ineffective competitor

A new competitor in your home market. Price wars with competitors. A competitor has a new, innovative product or service. Competitors have superior access to channels of distribution. Taxation is introduced on your product or service.

Tax Breaks. Low Start up Costs. Low Operating Costs. High Profit Margin. Market for little or no money. You do not need your own Product. Time Freedom. Open 24 Hours in every country.

Make sure that your product is something that is useful to your intended customers. Make sure that the product does what it says. Ensure Quality. Packaging. Brand Consistency. Good After Sales Service.

Competitive Pricing. Customers willingness to pay. Experimentation with price.

Placement on Major Search Engines. Placement of vertical search engines/ guides and local search. Placement through affiliates.

Promotion Promotion Promotion Promotion

through display advertising. though search marketing. through socal media. through Public Relations.

Personalization. Privacy. Customer Service. Community. Site. Security. Sales Promotion.

Search engine marketing. Display Marketing E-mail Marketing, Affiliate Marketing Interactive Marketing Blog Marketing. Viral Marketing

Geographic Demographic (Age, Income, Gender, Education, Ethnicity) Psycographic (Activities, Interests, Opinions, Personality, Values.) Behaviour (Benefits sort, Usage level, Brand Loyalty, User Status.)

Simplifiers Surfers Connectors Bargainers Routiners

Four different approaches 1) Mass Marketing. 2) Multi segment Marketing. 3) Niche Marketing. 4) Micro Marketing.

Product. Service. Personnel. Channel. Image.

Technology. Benefit. User Category. Competitor. Integrator.