Marketing strategy Lecture 1

Marketing strategy by Prof.Ashok Thapar

Lecture 1.

In commodotised "off the shelf " business Environment today, it is the marketing and right Strategies will create SUSTAINABLE Competitive advantage.

2 Learning from this subject :-
a) Brand Building
b) Leadership Style.

AMA ( American Marketing Association ) Definition of Marketing:-

Marketing is an ORGANISATIONAL FUNCTION and a SET OF PROCESS for creating , communicating and delivering VALUE TO CUSTOMERS and for MANAGING CUSTOMER RELATIONSHIP in ways that benefits the ORGANISATION and its STAKEHOLDERS.

STAKEHOLDERS:-
 1. Internal customers ( employees)
2. External customers
3. Investors
4. Supply chain / distribution channel
5. Govt agencies.
6. Community at Large.

Organisational culture is more important than Product.
Earn the Trust of your customer.

Value is the ratio of Perceived Benefit : Perceived Cost.

Satisfied customers will tell 6 others.
unsatisfied customer will tell 21 others.

Home work:-

To study  various definitions of Marketing by AMA.

Nagaraj Recap

Dear Nagaraj,

Tusi simply great ho bhai. Excellent recap.

regards
sanban

RECAP OF Session 5 to 8

Session 5 & 6

Date :- 11.03.2012

A brief on how the project and evaluation will be done was indicated by Dr.Ankush. A summary session for 30 min will be done followed by Group PPT for 20-25 mins. max followed by Viva . Tentatively this will be in the 1^st or 2^nd week of April 2012 . Date will be intimated shortly.

The skeleton view of the project should be as follows:-

1.    Select a topic
2.    Identify which concept applied to the selected topic.
3.   Do PESTEL (Highlight which among PESTLE is more critical for the Topic selected).
4.   Identify the Operating principle.
5.  Perform segmentation.
6.  Identify Target Markets
7. Position for the Target market.

Learning’s from  Nirdhosh:-

1.  Fitment between Product & segment ( Awareness & Learning)

Example:

 Awareness:- Steve Jobs à Stylus should not be used for touch screen devices and only fingures should suffice.

Learning:-

Delhi Metro à Inspite of they study Mumbai rail network, still there was no learning. Implementation of a separate ladies compartment was after 2-3 years of start of Metro network.

Kellogg’s:- They did not understand the breakfast patterns of Indians having their breakfast along with a glass of hot milk. Their product formed lumps with hot milk. Lost acceptance in market, until people learnt that Kellogg’s Product need to be consumed with Cold milk.

2.       Scanning of environment is essential. 
3.       Segment viability is Critical ( S.C.A) 
4.       Understanding Segment Mix. 
5.       When is the right time to launch a Product?

Jagthapose: - If you Place your product close to leader in that category, then the chances of your product sales is highest. At least it will reach the consideration set.

Targeting: - (IPSEC)

1.  Identify
2. Profile
3. Select
4. Establish
5. Communicate

Once we have identified the target markets we need to profile them.

Profiling:-

1.  Innovators: - Those who try First.
2. Early Adapters: - One who adapt a new product from word of mouth of Innovators.
3. Late Adopters: - They are the last to accept the product offering or adopt out o compulsion.

1^St Mover Advantage: - Naukari .Com:- The work Naukari by itself was sufficient for people to connect to Jobs when it was launched.

1^st Mover Disadvantage: - Orkut Scarp Vs Face book Wall. People who were innovators or early adopters were swayed away by Face book.

Fedrer Vs Nadal.

When both are at Dues They have same Points. When one of them gain one point (1st mover advantage) the other one has to gain 3 points to reach there.

Marketing Warfare:-

1.       Attacking

Example:- Hockey :- If the you are at 0-3 then you will adopt attacking warfare.

2.       Defensive

Example:- UP election Rahul Gandhi Vs Akhilesh Yadav .

3.       Flank:- Attack the weakness of competitors.

 4.       Guerilla:- Camouflage and attack in small groups , capture small territories and then attack the leader.

Example:- Ghadi Detergent slowly capturing market by finishing their competitors ( Killing Wheel)

Surprise is the rule of game.

5.       Niche and Blue Ocean Strategy

Niche :- DMO

Distinct

Market

Offering

Example:- Easy liquid detergent. By launching a liquid detergent a separate segment was created by this company.

Blue Ocean Strategy:- UMC

Uncontested

Market

Place

Example:- Pidilite / Amitabachan

GCMMF Case study

1.       When company diversify ?

2.       Which Marketing Warfare GCMMF have used?

3.       Is GCMMF Successful in their Approch

Crown TV Case study

1.       What should local companies ( Indian) do when MNC  Onslaught happens?

2.       Which warfare Crown TV have used.

3.       Is Pricing Most Important criteria in durable Industry If Yes why & If No Why ?

Session 7 & 8

Positioning

3 sets in Marketing

1. Consideration set
2.  Evaluation Set
3.  Evoked Set

Out of 100% only 74% move into consideration set , 26% of them graduate to evaluation set & 8-10% reach the evoked set.

 

 

A company diversify due to following :-

1.   Product  Maturity achived
2.  When the exisitng business is doing good and mkt attraction is high.
3.  With high moneyPower diversify to new emerging business.
4. When their current product is not doing good.

Perpetual Mapping

When we look into various brands that are present in the TV Category. We can classify them as high & low based on Technology and Price.

 

Both Crow TV and GCMMF case studies discussed in the class.

END OF Marketing Lecture for Term 1