3. The term marketing is very wide. It does not
mean only to sale and purchase of goods
and services.
It means entire process of satisfying the
needs of consumers.
It start with discovery of needs and wants of
the consumer and it continues till these
needs and wants are satisfied.
4. According to American
marketing association.
Marketing is a performance of business
activities that direct the flow of goods and
services from the producer to consumer or
user.
5. Old marketing characteristics
Product oriented concept of marketing.
It stresses upon production.
Marketing start with after goods have been
produced and it ends after the goods have
been sold.
The ultimate object of marketing is to
maximize the profits by maximizing the
sale.
6. New and modern concept of
marketing
Costumer oriented concept of marketing.
According to this concept consumer is the
key of market and his needs and wants are
the goals of the business activities.
7. Continued….
This concept assumes that the object of
earning the profit can be achieved only
when the needs of society are satisfied.
Acc to this concept marketing is the
creation and delivery of standard of living
to the society.
14. Keys for becoming a brand….
Set your specialty…
Set standards which must be globally
accepted and followed.
Make market to move with you.
15. Building Brand Equity…..
MARKETING IS THE ART OF BRAND BUILDING
*
IF YOU ARE NOT A BRAND,
YOU ARE A COMMODITY.
*
THEN PRICE IS EVERYTHING
AND THE LOW-COST PRODUCER
IS THE ONLY WINNER!
16. 1. How Important is Branding?
The NUMMI plant in California produces
two nearly identical models called the
Toyota Corolla and the Chevrolet Prizm.
Toyota sold 230,000 Corollas compared to
sales of 52,000 Prizms.
And Toyota’s net price is $650 higher!
17. A Brand Must be More Than a Name……
A brand must trigger words or associations (features and benefits).
A brand should depict a process (McDonald’s, Amazon).
A great brand triggers emotions (Harley-Davidson).
A great brand represents a promise of value (Sony).
The ultimate brand builders are your employees and operations,
i.e., your performance, not your marketing communications.
19. How Do You Promote a Brand?
“How do I justify spending millions on
creating an image. That’s millions my
customers have to spend when they buy
from us.” Tom Parker, CEO of Clark’s
shoes.
Brands are built by performance, not
advertising.
20. What Makes a Strong Brand?
Strong brand = Product Benefits x Distinct
Identity x Emotional Values
Peter Doyle, Marketing Management & Strategy, 1997
21. Strong Brands Supply Use Value as Well
as Purchase Value
Nestle:
Sells baby food
Provides free dietitian phone line
Nestops along the highway
Home Depot:
Sells home improvement products, such as paint, electrical supplies,
plumbing
Offers free kitchen remodeling design service
Offers free workshops on how to paint, fix faucets, etc.
Volvo
Teaches safe driving,
Supports lower insurance rates for safe drivers
22. What Are the Most Frequent Causes of
Brand Failure?
Failure to live up to the brand promise.
Failure to adequately support the brand.
Failure to adequately control the brand.
Failure to properly balance consistency and
change with the brand.
Failure to do brand equity measurement and
management.
24. Marketing Work-Flow Process Tools
Project management
Product management
New product development
Campaign management
25. Challenges….
Product differentiation is harder to achieve.
New products unfortunately fail more times than they
succeed.
Price cutting doesn’t work because competitors will
match.
Cost cutting has eliminated much of the fat but is now
risking cutting the muscles.
