Recap of Lecture 1 & 2

                                                                                                                                    Date:-12 Feb 2012

Recap of the lecture:-

Session 1

1. The way to go with marketing lecture will be through Blog and how Blog is helpful.
2. Batch 21 Blog viewed.
3. Shine Babu to be the owner of Batch 22 Blog.

Topics to be covered:

1.      Concepts of marketing
2.      PESTL ( scanning Environment)
3.      Segmentation
4.      Target Market
5.      Positioning.

Brainstorming on what marketing is:

·         Selling concept ex:- Newspaper ( Vodafone Add on Number portability the next day the news on licenses cancellation declared)

·         Brand Concept:- Ex:- Pidilite, Xerox is considered as master brand since the category is linked to this brand. ( even if a photocopy is done on any make of copier still people call it a Xerox copy and not photocopy)

·         Value enhancement ( ∑ Benefit - ∑ cost)

·         Creating new market

·         AIDA model( Awareness , Interest , Desire , Action)

Definition of Marketing: - Marketing is defined as CCD (creating, communicating, and delivering along with Value, Target group & Meeting Profitability)

Core Concepts of Marketing:

1.       Production Concept - Ex: China believes if the mass produce the product will sell. ( they did not look into other areas hence it worked initially ,but in due course they lost market)

2.       Product concept – Ex: Apple believe that their constant innovation in the product will sell . This concept worked.

3.       Selling Concept- Ex: Unfortunately most of companies in India follow this concept which believes in OPUD (over Promise and under deliver). This is not a good concept since this will give initial sale but on long run the brand will lose acceptance in market.

4.       Marketing concept- This is the correct method which does complete coverage as per PESTL.

5.       Societal Marketing concept.

Integrated Marketing concept will cover all the above concepts.

Session 2

Case study:- Kanpur Confectionary Pvt Ltd

Entire class discussed on following 3 questions. 

1.       Do local companies have capabilities to fight against National companies? 

2.       Do MKG fall in the trap of tagging as a local brand or they have competence to be a National Brand? 

3.       What Should MKG Do?

Each one to post their views on the above 3 questions.

Levels of Products:-

Products need to Qualify as in Circles.