Basics of marketing

MURLI MOHAN RAO

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Sales

BrandingMarketing

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Task 1 – Identifying The Drilling Spot

Task 2 – Drilling The Hole

Marketing

Sales

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The Act Of Selling

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Creating A Market

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Meet customers

Source business

Negotiate deals

Keep customers happy

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Build brands

Design strategies

Identify markets

Develop communication

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Research budgets controlled by the marketing team

Research drives most marketing strategies

Marketing team uses and better understands marketing lingo

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Marketing language

Marketing principles & theories

Marketing applications

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6 P’s

Product

Price

Place

Promotion

Packaging

Personnel

Which product works?

What price works

How should it be promoted?

Where should it be sold?What kind of

packaging works?

What kind of people face customers?

• Key questions• What does the customer need from a product?• What features does it have to meet these needs? • How and where will the customer use it?• What does it look like? How will customers

experience it?• What size(s), color(s), and so on, should it be?• What is it to be called?• How is it branded?• How is it differentiated versus your competitors?

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• Key questions• What is the value of the product to the buyer?• What are the prevailing prices in the market?• What is a competitive price for the features

offered by the product?• What kind of customers or markets are being

targeted?• Is the customer price sensitive?• How will the pricing mechanism change by

distribution channel?

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• Key questions• Where do buyers look for the product or service?• Is it a pan-distribution channel product or is it

available only in certain distribution channels only?

• What is the right distribution channel?• What do you competitors do, and how can you

learn from that and/or differentiate?• How much emphasis should be laid on the online

channel?• How should pricing vary by distribution channel?

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• Key questions• Where and when can you get across your

marketing messages to your target market?• When is the best time to promote? Is there

seasonality in the market? • How do your competitors do their promotions?

And how does that influence your choice of promotional activity?

• How do promotions influence purchase decisions in the category?

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• Key questions• How important is packaging with respect to

purchase decisions?• What kind of pack sizes are needed for the

market?• How can packaging be differentiated with

respect to competition?• What should be the colour codes on packaging?

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• Key questions• What kind of people need to be engaged at the

retail end?• How satisfied are end consumers with retail

outlets and staff?• What kind of customer service standards does

the industry use?• What kind of training is needed for customer

service and sales staff?

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What kind of awareness does the brand enjoy vis-à-vis competition?

What are the quality associations with the product?

How is the brand identified & distinguished in the consumers mind? (visual, logo, colours etc.

How loyal are consumers to the brand?

What is the overall impression of a brand like in the consumers mind?

• However, important thing to note & understand

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BRAND EQUITY

Is always with reference to

COMPETITION

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Brand Positioning

• Domain• Brands target market,

where it competes in the market place

• Heritage• Background of the brand

and its culture

• Assets• Elements that differentiate

from competition e.g. visuals, logos, colours

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Positioning

Domain

Values

Reflection

Personality

Assets

Heritage

• Personality• Character of the brand and

which can be related to personality, people or objects

• Reflection• How the customer

perceives self as a result of using the product

• Values• Core values &

characteristics of the brand

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Positioning

Domain

Values

Reflection

Personality

Assets

Heritage

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TERM EXPLANATIONABOVE THE LINE ACTIVITIES (ATL)

Activities where mass media is used to promote brands and reach out to the target consumers.

BELOW THE LINE ACTIVITIES (BTL)

Activities that are one to one, and usually involve direct methods like distribution of pamphlets, handbills, stickers, promotions, brochures placed at point of sale etc.

ADVERTISING COPY The verbal or written component of advertising messages.ADVERTISINGEFFECTIVENESS

An evaluation of the extent to which a specific advertisement or advertising campaign meets the objectives specified by the client

SEGMENTATION The process of subdividing a market into distinct subsets of customers that behave in the same way or have similar needs.

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TERM EXPLANATIONMARKET SHARE Market share is the percentage of a market (defined in terms of either

units or revenue) accounted for by a specific entityMARKETING PLAN A document composed of an analysis of the current marketing

situation, opportunities and threats analysis, marketing objectives, marketing strategy, action programs, and projected or pro-forma income (and other financial) statements

MEDIA VEHICLE A specific newspaper, magazine, radio station, television program, outdoor advertising location, edition of Yellow Pages, etc., that can be employed to carry advertisements or commercials

MEDIA WEIGHT A measure of the amount of advertising media used in an advertising campaign. It can be expressed in terms of dollar amounts, gross rating points, circulation data, or other means

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TERM EXPLANATIONMONOPOLY The complete control of an economic good for which there is usually

no substituteMORES The cultural norms that specify behavior of vital importance to

society and embody its basic moral valuesMOTIVATION The positive or negative needs, goals, desires, and forces that impel

an individual toward or away from certain actions, activities, objects, or conditions.

RELATIONSHIP MARKETING

Marketing with the conscious aim to develop and manage long-term and/or trusting relationships with customers, distributors, suppliers, or other parties in the marketing environment.

FLANKING An indirect strategy aimed at capturing market segments whose needs are not being served by competitors

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TERM EXPLANATIONBACKWARDINTEGRATION

Company acquires one or more of its suppliers or develops its own supply capability in order to gain more profit and/or control

FORWARDINTEGRATION

Company acquires one or more of its buyers (e.g., wholesalers or retailers when the buyer is not the "ultimate buyer")

HORIZONTALINTEGRATION

Company acquires one of its competitors

INTELLECTUALPROPERTY

Abstract forms of "property" such as patents, copyrights, and trademarks, as distinct from the concrete form of real property.

ENTREPRENEUR A person who sets up a business or businesses, taking on financial risks in the hope of profit.

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