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.
