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MARKETING MANAGEMENT

PRESENTED ON BEHALF OF: SYMBIOSIS INSTITUTE OF COMPUTER STUDIES & RESEARCH BY: PROF. HIMMAT G. ADISARE CORE TEXT:
MARKETING MANAGEMENT(12th Ed)

BY: KOTLER, KELLER, KOSHY & JHAxds

MARKETING ENVIRONMENT & SYSTEM

MARKETING CONCEPTS-I

NEEDS WANTS DEMANDS PRODUCTS

VALUE COST SATISFACTION

EXCHANGES TRANSACTIONS RELATIONSHIPS MARKETS

MARKETING MARKETERS

THE MICROENVIRONMENT
COMPETITORS
CORE MARKETING SYSTEM SUPPLIERS

COMPANY
MARKET INTERMEDIARIES CUSTOMERS PUBLICS

MARKETING ENVIRONMENT FACTORS


DEMOGRAPHIC ENVIRONMENT ECONOMIC ENVIRONMENT NATURAL ENVIRONMENT TECHNOLOGICAL ENVIRONMENT SOCIO-CULTURAL ENVIRONMENT POLITICO-LEGAL ENVIRONMENT

DEMOGRAPHIC ENVIRONMENT
POPULATION EXPLOSION SLOWDOWN IN BIRTHRATE CHANGING TRENDS IN HOUSEHOLDS GEOGRAPHICAL SHIFTS IN POPULATION CHANGING ETHNIC & RACIAL POPULATIONS BETTER EDUCATED POPULATION SHIFT FROM MASS TO MICROMARKETS

ECONOMIC ENVIRONMENT
BUSINESS CYCLE: PROSPERITY RECESSION DEPRESSION RECOVERY CHANGES IN INCOME CHANGES IN CONSUMER SPENDING PATTERNS SAVINGS, DEBT & CREDIT AVAILABILITY

NATURAL ENVIRONMENT
SHORTAGE OF RAW MATERIALS INCREASING COSTS OF ENERGY & POWER INCREASED LEVELS OF POLLUTION DEPLETION OF RENEWABLE & NON-RENEWABLE RESOURCES

TECHNOLOGICAL ENVIRONMENT
ACCELERATING PACE OF TECHNOLOGICAL CHANGE UNLIMITED INNOVATION, RESEARCH & DEVELOPMENT OPPORTUNITIES GOVERNMENT LEGISLATION & REGULATION OF TECHNOLOGICAL CHANGE

SOCIO-CULTURAL ENVIRONMENT
PERSISTENCE OF CORE CULTURAL VALUES:
RELIGIOUS RACIAL TRADITIONAL ETC.

CHANGES IN SECONDARY VALUES:


MUSIC CLOTHES EATING HABITS ETC.

POLITICO-LEGAL ENVIRONMENT Legislation For Environment Protection Legislation For Protection Of Consumers Legislation for protection of society Legislation For Protection Of Industries from each other (MRTP, FDA, PCBs ETC.)

MARKET-ORIENTED STRATEGIC PLANNING

THE BCG MATRIX


(ASSIGNING RESOURCES TO SBUs) QUESTION MARKS STARS CASH COWS DOGS

THE BCG MATRIX (CONTD)


RELATIVE MKT SHARE
25%

STARS

MKT GROWTH
10%

QUESTION MARKS

DOGS

0% CASH COWS

10x

1x

0.1x

THE BCG MARIX (CONTD)


QUESTION MARKS: NEW BUSINESSES OF THE
COMPANY IN HIGH GROWTH-RATE MARKETS

STARS: SUCCESSFUL Q-MARK BUSINESSES BECOME


STARS THAT GAIN MARKET SHARE AND GENERATE PROFITS FOR THE COMPANY

CASH COWS: STAR BUSINESSES THAT REMAIN


SUCCESSFUL. MARKET-GROWTH RATE SLOWS DOWN AS COMPETITORS ENTER THE SEGMENT, BUT CASH COWS CONTINUE TO GENERATE STEADY PROFITS. THESE PROFITS IN TURN ARE USED TO SUSTAIN STAR BUSINESSES AND FUND NEW QUESTION MARK BUSINESSES

DOGS: THESE ARE BUSINESSES IN DECLINE AND THE

COMPANY HAS THE OPTION TO HARVEST OR DIVEST

ANALYZING CONSUMER BEHAVIOR

ANALYZING CONSUMER BEHAVIOR


FACTORS INFLUENCING CONSUMER BEHAVIOR BUYING ROLES TYPES OF BUYING BEHAVIOR THE BUYING DECISION PROCESS

FACTORS INFLUENCING CONSUMER BEHAVIOR


CULTURAL FACTORS: Culture
Sub-culture Social Class

SOCIAL FACTORS: Reference groups


Family Roles & statuses

FACTORS INFLUENCING CONSUMER BEHAVIOR (CONTD)


PERSONAL FACTORS Age and Life-Cycle Stage Occupation Economic Circumstances Lifestyle Personality & Self-concept

ANALYZING CONSUMER BEHAVIOR (CONTD)


PSYCHOLOGICAL FACTORS
Motivation Learning Perception Beliefs & Attitudes

BUYING ROLES
INITIATOR: THE FIRST PERSON TO SUGGEST THE IDEA OF BUYING INFLUENCER: A PERSON WHOSE VIEWS IMPACT THE BUYING DECISION DECIDER: THE PERSON WHO DECIDES ON WHAT, WHEN & WHERE TO BUY THE PRODUCT OR SERVICE BUYER: THE ACTUAL PURCHASER USER: THE PERSON WHO USES/CONSUMES THE PRODUCT OR SERVICE

TYPES OF BUYING BEHAVIOR


COMPLEX BUYING BEHAVIOR: High involvement, very expensive, infrequently purchased,very risky, self-expressive products (designer jewelry, custom-designed sports cars, housing) DISSONANCE REDUCING BUYING BEHAVIOR: High involvement, expensive, infrequently purchased, self-expressive products (furniture, white goods, PCs)

TYPES OF BUYING BEHAVIOR (CONTD)


VARIETY SEEKING BUYING BEHAVIOR: Low involvement, frequently purchased, inexpensive products (pastries, biscuits, snacks) HABITUAL BUYING BEHAVIOR: Low involvement, frequently purchased, inexpensive products (sugar, salt, flour, food grains)

THE BUYING DECISION PROCESS


Problem/need Recognition Information Search Evaluation Of Alternatives Purchase Decision Postpurchase Behavior

PROBLEM/NEED RECOGNITION
From Internal Stimuli:
Hunger Thirst Fear

From External Stimuli:


Neighbors Purchases Advertisements Window Shopping Newspapers & Magazines

INFORMATION SEARCH
From Personal Sources:
Family Friends Neighbors Acquaintances

INFORMATION SEARCH (CONTD)


From Commercial Sources:
Advertisements Dealers Salespersons Packaging Displays

INFORMATION SEARCH (CONTD) From Public Sources:


Mass Media Chambers of Commerce

Consumer Rating Magazines

INFORMATION SEARCH (CONTD) From Experiential Sources:


Handling the Product Examining the Product

Using the Product

EVALUATION OF ALTERNATIVES
Successive Sets in Consumer Decision-Making:
Total Set Awareness Set Consideration Set Choice Set Buying Decision

PURCHASE DECISION
Interfering Factors:
Attitudes of Others: Opposing and intense opinions of family members, close friends and acquaintances. Unanticipated situational factors: Changes in income, job transfer, loss of employment, change of priority e.g. sudden payment of educational fees etc.

POSTPURCHASE BEHAVIOR
Post purchase Satisfaction:
Keep the Product Store the Product Convert to a Second Use

Post purchase Dissatisfaction:


Try to return the product/take legal recourse Rent it Get rid of it/Throw it

BUSINESS MARKETS VERSUS CONSUMER MARKETS


Business Markets
Fewer Buyers Larger Buyers Close SupplierCustomer Relationship Geographically Concentrated Buyers Inelastic Demand

Derived Demand Professional Purchasing Multiple Buying Influences Direct Purchasing Reciprocity Leasing

MARKET SEGMENTATION

MARKET SEGMENTATION (CONTD)

Strategies for Market Targeting:


Single Segment Concentration Selective Specialization Product Specialization Market Specialization Full Market Coverage

SINGLE SEGMENT CONCENTRATION


M1 M2

M3

P1

P2

P3 EXAMPLE: VOLKSWAGEN

SELECTIVE SPECIALIZATION
M1 P1 P2
STAR NEWS STAR PLUS

M2

M3
STAR MOVIES

P3

PRODUCT SPECIALIZATION
M1 P1 P2 P3
PRODUCT: MICROSCOPE

M2
RESEARCH AND DEV INSTITUTES

M3
INDUSTRY APPLICATIONS E.G. QC LABS

SCHOOL & COLLEGE SCIENCE LABS

MARKET SPECIALIZATION
M1 P1
TELESCOPES

M2
MICROSCOPES

M3

P2
STETHOSCOPES

P3

FULL MARKET COVERAGE


M1 P1 P2 M2 M3

P3
EXAMPLES: HLL, GODREJ, P&G, COKE

MARKET SEGMENTATION VARIABLES


Geographic Segmentation
Demographic Segmentation Psychographic Segmentation Behavioral Segmentation

SEGMENTATION VARIABLES (CONTD)


Geographic Segmentation By Nations By Regions By States By Cities By Localities

SEGMENTATION VARIABLES (CONTD)


Demographic Segmentation By Age By Gender By Income By Education Level By Religion/Race By Nationality

SEGMENTATION VARIABLES (CONTD)


Psychographic Segmentation
By Personality By Lifestyle By Social Class

SEGMENTATION VARIABLES (CONTD)


Behavioral Segmentation
By Usage Pattern By Occasion By Loyalty Factor By Attitude Towards The Product

SALES FORECASTING

SALES FORECASTING METHODS


Time Series Analysis Simple Trend Analysis Correlation Methods Break-Even Analysis Executive Judgment Sales Force Composite Surveys of Buyers Intention Market Tests Substitute Method Delphi Method

THE MARKETING-MIX

THE MARKETING-MIX (THE 4 Ps)


Product
Price Promotion Place

THE PRODUCT LIFE CYCLE (PLC)


INTRODUCTION SALES GROWTH MATURITY SALES CURVE DECLINE

PROFIT CURVE

TIME

PLC: INTRODUCTION STAGE STRATEGIES PROMOTION


HIGH LOW

HIGH

RAPID SKIMMING

SLOW SKIMMING

PRICE
LOW

RAPID SLOW PENETRATION PENETRATION

PLC: GROWTH STAGE STRATEGIES


Style, Quality & Features Improvement Introduce New Models & Flanker Products Enter New Market Segments Enter New Marketing Channels Shift from Awareness to Preference Advertising Bring Price Down to Next Level of PriceSensitive Customers

PLC: MATURITY STAGE STRATEGIES


PRODUCT MODIFICATION

MARKET MODIFICATION
MARKETING-MIX MODIFICATION (Please refer to Handout)

PLC: DECLINE STAGE STRATEGIES

Increase the Investment Level Maintain the Current Status till market Position Becomes Clear Disinvest from Unprofitable Businesses Harvest Divest

PRICING STRATEGIES
PRICE HIGH HIGH PRODUCT QUALITY
1. PREMIUM PRICING 4. OVERCHARGING STRATEGY 7. RIP-OFF STRATEGY

MEDIUM
2. HIGH-VALUE STRATEGY 5. MEDIUMVALUE STRATEGY 8. FALSE ECONOMY STRATEGY

LOW
3. SUPER-VALUE STRATEGY 6. GOOD-VALUE STRATEGY 9. ECONOMY STRATEGY

LOW

SETTING PRICING POLICY


1. Selecting the Pricing Objective 2. Determining Demand 3. Estimating Costs 4. Analyzing Competitors Costs, Prices, and Offers 5. Selecting a Pricing Method 6. Deciding on the Final Price

PHYSICAL DISTRIBUTION Importance of Physical Distribution


Place Utility & Time Utility to Products Increase in Customer Base A Highly Promising Activity for Cost Reduction

PHYSICAL DISTRIBUTION (CONTD)


The FOUR major component functions: Designing the Physical Distribution System Transportation Warehousing Inventory Management

PHYSICAL DISTRIBUTION (CONTD)


Designing the Physical Distribution System: Analysis of What the Customers Want Analysis of What the Competitors are Doing Designing by Unit Specification and Considerations Optimizing the Cost of the System Maintaining System Flexibility

PHYSICAL DISTRBUTION (CONTD)


Transportation:
Assessment of Transportation Requirements Choosing the Right Transport Mode or Mix of Transport Modes Routing of the Consignments Operational Planning Implementation Controlling Transportation Costs

PHYSICAL DISTRIBUTION (CONTD)


Warehousing:
Role and Importance of Warehousing Designing the Warehousing System

Improving Warehousing Effectiveness

PHYSICAL DISTRIBUTION (CONTD) Inventory Decisions:


Carrying Inventory is Inescapable Elements of Inventory Costs Issues in Inventory Management

THANK YOU ALL FOR YOUR PARTICIPATION IN THIS CONTACT PROGRAMME

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