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PRESENTED ON BEHALF OF: SYMBIOSIS INSTITUTE OF COMPUTER STUDIES & RESEARCH BY: PROF. HIMMAT G. ADISARE CORE TEXT:
MARKETING MANAGEMENT(12th Ed)
MARKETING CONCEPTS-I
MARKETING MARKETERS
THE MICROENVIRONMENT
COMPETITORS
CORE MARKETING SYSTEM SUPPLIERS
COMPANY
MARKET INTERMEDIARIES CUSTOMERS PUBLICS
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.
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.)
STARS
MKT GROWTH
10%
QUESTION MARKS
DOGS
0% CASH COWS
10x
1x
0.1x
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
PROBLEM/NEED RECOGNITION
From Internal Stimuli:
Hunger Thirst Fear
INFORMATION SEARCH
From Personal Sources:
Family Friends Neighbors Acquaintances
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
Derived Demand Professional Purchasing Multiple Buying Influences Direct Purchasing Reciprocity Leasing
MARKET SEGMENTATION
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
MARKET SPECIALIZATION
M1 P1
TELESCOPES
M2
MICROSCOPES
M3
P2
STETHOSCOPES
P3
P3
EXAMPLES: HLL, GODREJ, P&G, COKE
SALES FORECASTING
THE MARKETING-MIX
PROFIT CURVE
TIME
HIGH
RAPID SKIMMING
SLOW SKIMMING
PRICE
LOW
MARKET MODIFICATION
MARKETING-MIX MODIFICATION (Please refer to Handout)
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