10may Caiib Marketing


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MARKETING CONCEPT

A situation where buyers and sellers of a

commodity interact.

Coming together of buyers and sellers of the

same or similar commodities

MARKETING

Marketing is the process of determiningconsumer demand for a product or service,motivating its sale and distributing it into ultimateconsumption at a profit


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EVOLUTION OF MODERN MARKETING

Barter System

Industrial revolution

Digital revolutionCustomer and market driven

Wants of customers

CRM

Customer SatisfactionNothing is worthwhile unless it touches the

customer


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The Core Concepts of Marketing

Needs, wants and demandsProducts (Goods, Services, and Ideas)

Value, Cost and Satisfaction

Exchange and transactions

Relationship and Networks

Marketers and Prospects


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MARKETING MANAGEMENTA process of planning and executing the conception,pricing , promotion and distribution of goods and

services and ides to create exchanges with targetgroups that satisfy customer and organizationalobjectives.

Processes involved

Analysis, planning, implementation, and control;

Covers goods, services, and Ideas;Rests on the notion of exchange; and

Goal is to produce satisfaction for the partiesinvolved


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Company Orientation towards theMarketplace (Marketing Concepts)

Production Concepts/Orientation

Product Concept/Orientation

Selling Concept/Orientation

Marketing Concept/Orientation Societal Marketing Concept


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SERVICE

A service is any act or performance that one party canoffer to another that is essentially intangible and does

not result in the ownership of anything. Its production

may or may not be tied to physical product.

CHARACTERISTICS OF SERVICESIntangibilityInseparabilityHeterogeneity

Perishability


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S.No. Physical Goods Services

1. Tangible Intangible

2. Homogeneous Heterogeneous3. Product and distribution

separated from

consumption

Production, distribution

and consumption re

simultaneous process

4. A thing A activity5. Core value produced in

factory

Core value produced in

buyer-seller interaction

6. Customers do not

participate in the

production process

Customers participate in

production

7. Can be kept in stock Cannot be kept in stock

8. Transfer of ownership No transfer of ownership


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Marketing Planning

Macro- and Macro-Factors influencing the market for anorganization's goods and services

Controllable Marketing Variables and the Macro-Environment

Demographic Factors

SKIPPIES : School Kids with Income and PurchasingPower

MOBYS : Mother Older, Baby Younger

DINKS : Dual Income No Kids

DEWKS : Dual Earners With Kind

PUPPIES : Poor Urban Professionals

WOOFS : Well-Off Older Folks


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Economic FactorsNatural Factors

Technological factors

Political and Legal factorsSocial and Cultural Factors


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Proximate Macro-Environment

Competitive Environment

Supplier Environment

Distributive Environment

Scanning and Adaptive to the Environment

Intra-Firm (Micro) Environment


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Applicability to Banking

The competition environment in banking

Retail Banking

Technology impact on product/service scenario

The changes in distribution plans

The outsourcing or contracting out of non-corebank services

PrivatizationGlobalization

Corporate banking

Insurance


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Meaning and importance of planning in

marketingTraditional planning

Difference between a marketing plan and acompanys corporate plan

Market-oriented strategic planning

Difference between marketing plan andmarketing planning process

Marketing planning (process)

Marketing plan

Annual-plan control


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Banking regulation and its impact on

marketing strategiesBank rate

Open market operations

Current scenario


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Consumer behaviour

Consumer behaviour : A directional Force

The complexity of consumer BuyingDecisions

Needs and Motives

Physiological needs

Safety needs

Social needs

Esteem needs

Self-actualization

Individual Perception

Selective perception

Theory of cognitive dissonance


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Learning and Habit developmentHabit-breaking

Habit-acquisition

Habit-reinforcementBehaviour Models for Analyzing BuyersThe Marshallian Economic Model

The individual buyer seeks to spend his income on

those goods that will deliver the most utility or valueaccording to his tastes and relative prices.

The Pavlovian Learning Model

Learning was largely an associative process and a

large component of behaviour was conditioned that

way.


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Behaviour Models for Analyzing Buyers

(Contd..)The Freudian psychoanalytic Model

Motivational wellsprings are not obvious to the casualobserver nor deeply understood by the individual

himself

The Veblenian Social Psychological Model

CultureSub-cultures

Social Class

Reference Groups

Face-to-Face Groups

Parent

Hobbesian Organizational Factors Model

How organizational buyers make their decisions


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Swinging singles to solitary survivors

Family buying roles

Initiator

Influencer

Decider

Purchaser

User


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Factors Influencing ConsumerBehaviour in Banking

Location

Safety

Returns

Customer Service

Range of Services

Easy Documentation and well-definedEligibility Criteria


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The art of customer service as applied to banking

Building customer satisfaction through quality,

service, and valueCustomer Value satisfaction

Defining service quality

Managing Quality

Delivering Customer Value and Satisfaction:Moments of Truth

Well-conceived strategy for service

Customer-oriented front-line people

Customer-friendly systems


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The Triangle Of ServiceCustomer-service strategy connection

customer-people organization connection

Customer-system connection

Systems-people; Strategy-systems; Strategy-

people Connections


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Customer Relationship in Services MarketingGiving Promises: The traditional or External Marketing

Fulfilling Promises: Internal and Interactive Marketing

Customer Care


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Consumer and Market Segmentation

Criteria for market segmentation

Meaningful

MeasurableUseful and reachable


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Consumer and Market SegmentationMass Markets and Segmentation

Types of Consumer Segments: Traditional and Modern

Characteristics of segments : demographic, geographic,psychographics, behaviouristic and volume

Benefits and Disadvantages of Market Segmentation

Alternative Strategies: undifferentiated anddifferentiated

Evaluation

Marketing Segmentation Strategy: Techniques

Application of Segmentation of Banking Services


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Marketing Research

Marketing research is research all about themarket: its size, composition, structure and so on

Marketing Research Process

Types of data Primary and Secondary data

Quantitative and Qualitative ResearchMethodologies

Time and cost constraints

The major uses of Marketing Research

Marketing Information System


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Marketing MixMarketing of financial services

Bank marketing

Service marketing mixCurrent development


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Competitor AnalysisGap Psychiatry A structural Methodology

Build a strategic planning knowledge base

Creating a sustainable advantageSpeeds as Strategy

Competitive Strategies


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Product Strategy

Nature of product

Product and service

Elements of Product Mix

Product Life Cycle and Product Strategies

Product Analysis

New Product DevelopmentBranding and Marketing

Role of Brand in Bank Marketing


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The Concept of Product/Service DeliveryProcess Cycle in Product Development

Packaging and Delivery


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Pricing Strategy and its Application in

BankingPricing for Profitability

Elasticity of demand

Pricing Methods/Strategies

Pricing Decisions

Pricing Concept in Banking

Pricing Review and Committees

Concept of Service Fees


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Bank Distribution StrategiesDistribution of Financial Services

Barriers

Channels of Distribution for Banks


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Promotion Strategy

Communication Process

Goals of Communication

Advertising and Sales Promotion

Sales Promotion

Publicity

Internal CommunicationMarketing Information System (MIS)

Moments of Truth: Customer Care


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Sales Training and HRD in Marketing

Proper Attitude Orientation of Staff

Selling Skills Required

Need and Importance of Sales Training

Sales Training and Strategy

Selling process

Impact of Training as HRD Intervention in Marketing

Direct Sales Force

Importance of Quality Service

Public Relation and Institution Image


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? ueries


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Documents

10may Caiib Marketing