Shine, the questions raised in the class were almost forgotten, until you recounted them once again. Good that you pointed them out in the blog. Thanks
Regards
sanban
Regards
sanban
This blog is created by ITM Executive Education Batch 22 - Vashi for posting synopsis about Marketing lectures conducted by Prof Ankush. This is also a location where all the Batch 22 students can discuss about various Marketing topics.
Friday, March 9, 2012
Thursday, March 8, 2012
Nirdosh case study
Nirdosh case study is truly about a unique product in the tobacco industry segment pertaining to biris and cigarette smokers. A product that does not have a parallel should top the list in a market. Nirdosh is a smoking stick that Mr Bhavsar had the option of either rolling into bidis or cigarettes or both. However, the operating principles of segmentation with the various ``P's'' (marketing principles) , the product has very little scope for sustained demand. The demand gets further restricted in certain price segments and the concept of the product at a variance from the avowed objectives. It's truly a unique case study where the product faces rejection from the various segments and sub-segments or categories it was expected to sell.
True to its name, ``Nirdosh,'' remained an innocent victim of the market patterns because of the product not matching the requirements of the segments.
-----------------------
A Lowdown on the product: ``Nirdosh''
Advantages: The product being supreme for drawing customers or clients, Mr Bhavsar enjoyed a monopoly situation in the market. His smoking sticks had health benefits and tobacco that was not harmful. His sticks also ensured that smokers could actually quit or kick the habit. So, it was an anti-smoking product. He had proof of the product helping to cure variety ailments like cold, cough, fever, asthma, tonsillitis, premature greying of hair, insomnia, toothaches,weak gums, bad odour , gastric problems etc. Additionally, he had certified proof of the health benefits of his product from doctors, reputed institutions and celebrities like late cine star, Ashok Kumar. Clearly, his product was beneficial to cure variety common ailments.
Exports opportunity: Mr Bhavsar had received inquiries from abroad about supply of ``Nirdosh.'' He had sent samples to the UK and USA where parties were attempting to get approval of appropriate authorities. Mr Bhavsar expected large orders once the formalities were carried out.
Disadvantages: Despite a plateful of advantages, Mr Bhavsar had a problem with distribution and supply network within the country. Unlike others in the industry Mr Bhavsar had a distribution problem to target smokers of all kinds of brands of cigarettes and bidis. He had an outlet in Ahmedabad, his son did some door to door marketing, those who ordered his product by post and resellers whom he provided with discount.
Mr Bhavsar's distribution network being weak, he had another major problem to enter the cigarette market or smoker's segment in the tobacco industry. He did not have the wherewithal to roll out cigarettes because of lack of machinery and other infrastructure. This aspect was particularly important as there were 150 million smokers (25 mn cigarettes and 125 mn bidi) in 1979-80.
His being a herbal product, the relevant herbs were prone to seasonal availability
---------------------------------------------
Mr Bhavsar's segmentation dilemma
(New Smokers) : ``Nirdosh'' being an anti-smoking product, the appeal to new smokers was unarguably very little. New smokers would hardly light up his stick to quit smoking, for the very idea of smoking was to light up a stick to smoke. It's a contradiction. The monopoly situation enjoyed by Mr Bhavsar because of the herbal product is not subscribed to by the band of new smokers.
This segment of the smoking industry has little scope for his product. Reason: Relative market share = Trial rate x repeat purchase formula clearly makes ``Trial rate'' of new smokers because of the nature of the product would be very low or in the worst case scenario nil to negligible. With very little scope for trial rate to touch significant numbers, the probability of repeat purchase too would be rather less.
Possible Outcome: Chance of Mr Bhavsar making a dent into this segment is very, very little.
-------------------------
Existing smokers : As for those who were already into smoking, various exhibits in the case study suggest a huge and potential market for Mr Bhavsar's product to make a dent. Here again though it would be those who were willing to quit smoking. This is the most important or only determinant for defining choice patterns of people who were into smoking to subscribe to ``Nirdosh.''
This segment is well-defined--- biri and cigarette smokers. Bidi smokers are far more (125mn). Consumption of tobacco was estimated (1979-80) at 125mn kg or more by another estimate (153 mn kg) against 85mn kg for rolling out cigarettes nationwide.
The market for bidis is good, but Mr Bhavsar decided to shift from Plan A (rolling out bidis) to Plan B (cigarettes) in 1984. He first sold it for Rs 2.50 per pack of 10 (filter tipped) till 1989 and thereafter at Rs 5.00 per pack of 10.
Data available (Exhibit--111: Table 7) of early 1970's. As per this table the prices of the brands were those prevailing in 1986, so one can take it as a reference point for Nirdosh cigarettes costing 50 paise per stick for Rs 5.00 per pack of 10.
Fifty paise per cigarette is clearly a higher price compared to nine popular brands of cigarette. So would an average smoker smoking these brands want to purchase Nirdosh? It's a question of choice pattern if the smoker wanted to quit smoking. Most of the brands out of the nine had fairly young smokers below the age of 35. How health conscious would they be to switch over to Nirdosh? The lower priced cigarette smokers comprised of those who were engaged in manual jobs and except for three brands did not have a sizeble presence of smokers doing white collar jobs. This additionally, would not have made ``Nirdosh,'' a very appealing concept as white collar job involves people assumed to be more health conscious while those in manual jobs look upon cigarette smoking as a concept to relax.
``Nirdosh'' pricing made it come close to the pricing of cigarettes to Wills Filter (tipped), Four Square King, Gold Flake (King) and India (Kings) that topped the list with one cigarette costing Rs 1. The others in this group ranged from 55 paise to 65 paise. Age -wise a matured and elderly population comprised smokers of three brands and in this high pricing segment those who smoked comprised a good chunk of those were doing white collar jobs. Mr Bhavsar could possibly have looked at this segment.
Conclusion: Relative market share = Trial rate x repeat purchase--- this formula would reveal the scope for less trial rate by smokers of lower priced cigarettes and also for smokers for high ended cigarettes (subject to individual preferences). As those smoking the high ended priced cigarettes and also other brands involves a chunk of those into newspaper and magazine reading and going to cinema, this segment of smokers are more into enjoying mode and were quite unlikely to disengage with the thrill of smoking. The scope for repeat purchase too, therefore, be limited.
Possible Outcome: Limited chance of success for ``Nirdosh'' for the reasons cited in the above para.
Additionally, (Exhibit --111: Table--6) buttresses the limited scope of success as in the category of filter cigarettes % changes in monthly sales show an overall negative swing (34-43= -9%) . Except for King Size premium filter (60 paise) that had a negative swing of 17 %, the other three categories, as per pricing, ( 20 paise to 35 paise ) had a mixed swing with positive swing in king sized popular filter and popular regular filter.
The positive swing being in the lower priced category cigarettes than ``Nirdosh,'' it wouldn't have made any difference. But, with the higher segment sales declining, maybe ``Nirdosh,'' had a better chance of appealing as a downward swing would imply people quitting smoking.
-----------------------
Health Segment: ``Nirdosh,'' had very little chances in this segment as well. Going by the health benefits, yes, truly Mr Bhavsar's herbal smoking stick is wonders, but then how many of chidlren, men and women would take to smoking to get rid of such common ailments? How many doctors would, in fact, therefore recommend smoking to cough lozenges, syrups and other drugs. The pricing of the medicines too weigh in favour of drugs and pharmaceutical industry compared to one stick of ``Nirdosh'' cigarette. Besides, the organised retail chain with popular cough lozenges marketed by general provision store did not augur well for Mr Bhavsar as he had a disadvantage of supplying his product.
Mr Bhavsar faced a dilemma in concept selling of marketing despite his product being unique. The appeal of the herbal cigarette as a remedy for asthma though would be great to smokers as was the case with the legendary cine star--- Ashok Kumar.
--------------------
Mass marketing: Despite being a rather unique product among smokers and one involving proven health benefits , Mr Bhavsar though had little scope for making a positive impact in the two segments.
It is an irony that his product faced a very potential rejection by the tobacco industry and had little scope for success in the health segment because of the dilemma the product faced both on account of doctors recommending smoking to intake of medicines, a large number of non-smokers like children, women and men (in that category) suffering from the common ailments that Mr Bhavsar's herbal stick could cure, and the pricing of cough syrups and lozenges and other medicines very competitive.
---------------------
Can ``Nirdosh'' be mass marketed? The obvious answer is No because there is very little demand that can be sustained over a long period of time . Segmentation of the market(s) along with the various marketing principles of product, pricing, promotion and people bring out clear cut contradictions.
--------------------
In the realm of sustainability, competitiveness and advantage, ``Nirdosh,'' shared a mixed bag of fortunes:
On the face of it, Mr Bhavsar had a clear monopoly of his product, but after defining the segments of smoking industry and health sector in terms of the concept of the product related to people, habits, demographic group, their choice pattern along with pricing of ``Nirdosh,'' it is clear that the herbal stick was not sustainable in the new smokers category while had limited sustainability though competitive in the existing smokers category. It had an advantage as a herbal smoking remedial cure for popular health ailments , but because of the clash in concept of the product (cigarette) being recommended by doctors against popular and well-known medicines, it was not sustainable for promotion. It was not competitive either in terms of prices of various medical products. Perhaps it's positioning (image) was incompatible in the health segment, and also in the new smokers category.
As for export market, yes, the product has a bright future because of the awareness towards health and also chances of both trial rate and repeat purchases possibility high of smokers. But how does it work out?
--------------------------
True to its name, ``Nirdosh,'' remained an innocent victim of the market patterns because of the product not matching the requirements of the segments.
-----------------------
A Lowdown on the product: ``Nirdosh''
Advantages: The product being supreme for drawing customers or clients, Mr Bhavsar enjoyed a monopoly situation in the market. His smoking sticks had health benefits and tobacco that was not harmful. His sticks also ensured that smokers could actually quit or kick the habit. So, it was an anti-smoking product. He had proof of the product helping to cure variety ailments like cold, cough, fever, asthma, tonsillitis, premature greying of hair, insomnia, toothaches,weak gums, bad odour , gastric problems etc. Additionally, he had certified proof of the health benefits of his product from doctors, reputed institutions and celebrities like late cine star, Ashok Kumar. Clearly, his product was beneficial to cure variety common ailments.
Exports opportunity: Mr Bhavsar had received inquiries from abroad about supply of ``Nirdosh.'' He had sent samples to the UK and USA where parties were attempting to get approval of appropriate authorities. Mr Bhavsar expected large orders once the formalities were carried out.
Disadvantages: Despite a plateful of advantages, Mr Bhavsar had a problem with distribution and supply network within the country. Unlike others in the industry Mr Bhavsar had a distribution problem to target smokers of all kinds of brands of cigarettes and bidis. He had an outlet in Ahmedabad, his son did some door to door marketing, those who ordered his product by post and resellers whom he provided with discount.
Mr Bhavsar's distribution network being weak, he had another major problem to enter the cigarette market or smoker's segment in the tobacco industry. He did not have the wherewithal to roll out cigarettes because of lack of machinery and other infrastructure. This aspect was particularly important as there were 150 million smokers (25 mn cigarettes and 125 mn bidi) in 1979-80.
His being a herbal product, the relevant herbs were prone to seasonal availability
---------------------------------------------
Mr Bhavsar's segmentation dilemma
(New Smokers) : ``Nirdosh'' being an anti-smoking product, the appeal to new smokers was unarguably very little. New smokers would hardly light up his stick to quit smoking, for the very idea of smoking was to light up a stick to smoke. It's a contradiction. The monopoly situation enjoyed by Mr Bhavsar because of the herbal product is not subscribed to by the band of new smokers.
This segment of the smoking industry has little scope for his product. Reason: Relative market share = Trial rate x repeat purchase formula clearly makes ``Trial rate'' of new smokers because of the nature of the product would be very low or in the worst case scenario nil to negligible. With very little scope for trial rate to touch significant numbers, the probability of repeat purchase too would be rather less.
Possible Outcome: Chance of Mr Bhavsar making a dent into this segment is very, very little.
-------------------------
Existing smokers : As for those who were already into smoking, various exhibits in the case study suggest a huge and potential market for Mr Bhavsar's product to make a dent. Here again though it would be those who were willing to quit smoking. This is the most important or only determinant for defining choice patterns of people who were into smoking to subscribe to ``Nirdosh.''
This segment is well-defined--- biri and cigarette smokers. Bidi smokers are far more (125mn). Consumption of tobacco was estimated (1979-80) at 125mn kg or more by another estimate (153 mn kg) against 85mn kg for rolling out cigarettes nationwide.
The market for bidis is good, but Mr Bhavsar decided to shift from Plan A (rolling out bidis) to Plan B (cigarettes) in 1984. He first sold it for Rs 2.50 per pack of 10 (filter tipped) till 1989 and thereafter at Rs 5.00 per pack of 10.
Data available (Exhibit--111: Table 7) of early 1970's. As per this table the prices of the brands were those prevailing in 1986, so one can take it as a reference point for Nirdosh cigarettes costing 50 paise per stick for Rs 5.00 per pack of 10.
Fifty paise per cigarette is clearly a higher price compared to nine popular brands of cigarette. So would an average smoker smoking these brands want to purchase Nirdosh? It's a question of choice pattern if the smoker wanted to quit smoking. Most of the brands out of the nine had fairly young smokers below the age of 35. How health conscious would they be to switch over to Nirdosh? The lower priced cigarette smokers comprised of those who were engaged in manual jobs and except for three brands did not have a sizeble presence of smokers doing white collar jobs. This additionally, would not have made ``Nirdosh,'' a very appealing concept as white collar job involves people assumed to be more health conscious while those in manual jobs look upon cigarette smoking as a concept to relax.
``Nirdosh'' pricing made it come close to the pricing of cigarettes to Wills Filter (tipped), Four Square King, Gold Flake (King) and India (Kings) that topped the list with one cigarette costing Rs 1. The others in this group ranged from 55 paise to 65 paise. Age -wise a matured and elderly population comprised smokers of three brands and in this high pricing segment those who smoked comprised a good chunk of those were doing white collar jobs. Mr Bhavsar could possibly have looked at this segment.
Conclusion: Relative market share = Trial rate x repeat purchase--- this formula would reveal the scope for less trial rate by smokers of lower priced cigarettes and also for smokers for high ended cigarettes (subject to individual preferences). As those smoking the high ended priced cigarettes and also other brands involves a chunk of those into newspaper and magazine reading and going to cinema, this segment of smokers are more into enjoying mode and were quite unlikely to disengage with the thrill of smoking. The scope for repeat purchase too, therefore, be limited.
Possible Outcome: Limited chance of success for ``Nirdosh'' for the reasons cited in the above para.
Additionally, (Exhibit --111: Table--6) buttresses the limited scope of success as in the category of filter cigarettes % changes in monthly sales show an overall negative swing (34-43= -9%) . Except for King Size premium filter (60 paise) that had a negative swing of 17 %, the other three categories, as per pricing, ( 20 paise to 35 paise ) had a mixed swing with positive swing in king sized popular filter and popular regular filter.
The positive swing being in the lower priced category cigarettes than ``Nirdosh,'' it wouldn't have made any difference. But, with the higher segment sales declining, maybe ``Nirdosh,'' had a better chance of appealing as a downward swing would imply people quitting smoking.
-----------------------
Health Segment: ``Nirdosh,'' had very little chances in this segment as well. Going by the health benefits, yes, truly Mr Bhavsar's herbal smoking stick is wonders, but then how many of chidlren, men and women would take to smoking to get rid of such common ailments? How many doctors would, in fact, therefore recommend smoking to cough lozenges, syrups and other drugs. The pricing of the medicines too weigh in favour of drugs and pharmaceutical industry compared to one stick of ``Nirdosh'' cigarette. Besides, the organised retail chain with popular cough lozenges marketed by general provision store did not augur well for Mr Bhavsar as he had a disadvantage of supplying his product.
Mr Bhavsar faced a dilemma in concept selling of marketing despite his product being unique. The appeal of the herbal cigarette as a remedy for asthma though would be great to smokers as was the case with the legendary cine star--- Ashok Kumar.
--------------------
Mass marketing: Despite being a rather unique product among smokers and one involving proven health benefits , Mr Bhavsar though had little scope for making a positive impact in the two segments.
It is an irony that his product faced a very potential rejection by the tobacco industry and had little scope for success in the health segment because of the dilemma the product faced both on account of doctors recommending smoking to intake of medicines, a large number of non-smokers like children, women and men (in that category) suffering from the common ailments that Mr Bhavsar's herbal stick could cure, and the pricing of cough syrups and lozenges and other medicines very competitive.
---------------------
Can ``Nirdosh'' be mass marketed? The obvious answer is No because there is very little demand that can be sustained over a long period of time . Segmentation of the market(s) along with the various marketing principles of product, pricing, promotion and people bring out clear cut contradictions.
--------------------
In the realm of sustainability, competitiveness and advantage, ``Nirdosh,'' shared a mixed bag of fortunes:
On the face of it, Mr Bhavsar had a clear monopoly of his product, but after defining the segments of smoking industry and health sector in terms of the concept of the product related to people, habits, demographic group, their choice pattern along with pricing of ``Nirdosh,'' it is clear that the herbal stick was not sustainable in the new smokers category while had limited sustainability though competitive in the existing smokers category. It had an advantage as a herbal smoking remedial cure for popular health ailments , but because of the clash in concept of the product (cigarette) being recommended by doctors against popular and well-known medicines, it was not sustainable for promotion. It was not competitive either in terms of prices of various medical products. Perhaps it's positioning (image) was incompatible in the health segment, and also in the new smokers category.
As for export market, yes, the product has a bright future because of the awareness towards health and also chances of both trial rate and repeat purchases possibility high of smokers. But how does it work out?
--------------------------
Definition of Segment: Class of customers with similar needs and wants from a particular product range.
Definition of Segmentation: Deciding operating Principles for marketing by classifying OR identifying customer base depending on Demographic, Geographic, Behavioural, Socio-economic grounds who have similar needs and wants from a particular product range.
Mass Marketing: This is completely opposite that of segmenting. Marketer goes in open market without segmenting. This Marketing startegy is obsolete now a days.
Marketing Mix: There are 4 P's of marketing mix
1. Product
2. Price
3. Place
4. Promotion
For service industry more 3 P's are extended
5. People
6. Process
7. Physical Evidence
In my view: Marketing mix are precise points in each category mentioned above which makes product saleable. In other words USP's pertaining to each aspect mentioned.
Viability Matrix:
After segmenting, marketer need to analyse the situation by this viability matrix. There are 3 questions. Answers for these questions will help marketer to understand the ground position of his Product.
1. Is our Segment Sustainable?
2. Are we Competitive?
3. Do we have Advantage? (Over competetors)
Definition of Segmentation: Deciding operating Principles for marketing by classifying OR identifying customer base depending on Demographic, Geographic, Behavioural, Socio-economic grounds who have similar needs and wants from a particular product range.
Mass Marketing: This is completely opposite that of segmenting. Marketer goes in open market without segmenting. This Marketing startegy is obsolete now a days.
Marketing Mix: There are 4 P's of marketing mix
1. Product
2. Price
3. Place
4. Promotion
For service industry more 3 P's are extended
5. People
6. Process
7. Physical Evidence
In my view: Marketing mix are precise points in each category mentioned above which makes product saleable. In other words USP's pertaining to each aspect mentioned.
Viability Matrix:
After segmenting, marketer need to analyse the situation by this viability matrix. There are 3 questions. Answers for these questions will help marketer to understand the ground position of his Product.
1. Is our Segment Sustainable?
2. Are we Competitive?
3. Do we have Advantage? (Over competetors)
CASE STUDY for Market Segment (Nirdosh Bidi)
Nirdosh Bidi Case study was discussed, Following segments were identified, some points are mentioned which might be obstacles while deciding operating principles.
1. New Smokers: New Smokers will definitely go with established brands to prove smoking. How could new smoker can be attracted to a relatively unknown brand, which is made for quit smoking?
2. Smokers who want to Quit: Smoke for quitting smoking, large contradiction. At the same time losing out on repeat sale.
3. Health Concious Smokers: Definitely a good concept to start building operating principle. But what will be Relative Market Share. Trial RAte might be high but repeat rate? In this case, as mentioned in supportings, Niche class, White collared consumer could be targetted.
4. Export Market: Again a good option, but how to go ahead?
For Next Class:
S(Segmentation)
T(Target Customer)
P(Promotion and Positioning of Product)
to be covered.
Wednesday, March 7, 2012
Case Studies : Nirdosh Beedis
Case Study Link :
 |
| Case Studies
Following points were raised by Prof Ankush post our discussion of the case study:
1) Is the Marketing Strategy of Nirdosh Beedi's sustainable ?
2) Is the product Competitive ?
3) Is it an Advantage ?
4) Would health conscious smokers subscribe to it ?
5) Which Segment are you targeting ?
6) Is it a fit case for mass market ??
|
Tuesday, March 6, 2012
Segmentation
Definition:
Segmentation is a classification of customers by one or more characteristic to identify a group of customers which have similar needs and demand concerning the recognized quality of product or services.
Who are those customers who most appreciate your area of superiority?
Segmentation is a classification of customers by one or more characteristic to identify a group of customers which have similar needs and demand concerning the recognized quality of product or services.
Who are those customers who most appreciate your area of superiority?
- What are their demographics (Age, Education, Gender, Income, Location, Occupation, Family Status,etc)?
- What are their Phychographics (Goal, Ambitions, Wants, Needs, Motivation, Hopes,etc)?
- How would you describe your perfect customer?
Recap comments
As usual, Nagaraj, a very nice recap. Encapsulates all. In a simpler way though i feel segmentation is a concept which is like a formula in mathematics. Segmentation gives us the various variables that enable market (s) to function. As any market is all about people and their choice patterns emanating from demand requirements and the price of goods, segmentation helps to dissect the complex dynamics of markets. The various tools are, therefore, the operating principles of market.
Mr Bhavsar's unique product -- Nirdosh Bidi--- is indeed a case in point. A unique product that has the potential of entering any segment of the cigarette and bidi sector besides the health segment because of the health benefits of his herbal smoking stick.
Segmentation from a consumer's point of view or an analyst though can be different from a manufacturer's view point as in the case of Mr Bhavsar who needs to look at various variables including choice patterns and complex human behaviour for his product to not only enter, but also sustain itself, compete and have the competitive edge or advantage. As a consumer, i need not compete essentially to sustain my entry level into any segment for purchasing a product. In this case segmentation would / could include variables starting from my choice pattern, and effective demand (demand backed by purchasing power).
Regards
sanban
Mr Bhavsar's unique product -- Nirdosh Bidi--- is indeed a case in point. A unique product that has the potential of entering any segment of the cigarette and bidi sector besides the health segment because of the health benefits of his herbal smoking stick.
Segmentation from a consumer's point of view or an analyst though can be different from a manufacturer's view point as in the case of Mr Bhavsar who needs to look at various variables including choice patterns and complex human behaviour for his product to not only enter, but also sustain itself, compete and have the competitive edge or advantage. As a consumer, i need not compete essentially to sustain my entry level into any segment for purchasing a product. In this case segmentation would / could include variables starting from my choice pattern, and effective demand (demand backed by purchasing power).
Regards
sanban
Monday, March 5, 2012
Lecture 3 & 4 Segmentation & case study
Session -3
Segmentation
Definition :- Segmentation is classifying market by studying
consumer behavior pattern based on preferential , socioeconomic ,
demographic aspects & relating it to consumer needs, wants & desires.
Opposite of Segmentation is Mass marketing . This prevailing till
year 2000 . When there is mass marketing then the other concepts of marketing
do not play a role.
Example 1:- Discussed
Promotion of Egg by NECC to classify this into Segmentation / Mass marketing.
Although Egg is a product which is consumed by most of the product. It is
advertised as “ Sunday ho ya Monday Roj Kao Ande” as a healthy food against
the food supplements like Pediasure.
Cannibalization:- This is defined as eating away or replacing
market share of one product by another product of the same company which are
positioned for the same market segment.
Example 2 :- Coke reducing the price of its 250ml from Rs.10 to
Rs.8 and competing with ThumsUP which is
also its own product which are positioned for the same market segment.
Touched upon positioning:- Positioning is creating an image which is occupies in
the mind of the target customer.
Example 3:- Lifeboy Jingle “
Lifeboy hai Jahan Thandurusti hai Wahan”
created an image of Lifeboy to be a toilet soap than bath soap ( hygiene
segment) . The Product satisfied core benefit of Hygiene , had a
basic look and feel ,but could not move ahead in the product cycle .
Viability Chart:- S.C.A
1.
Is my segment Sustainable .
2.
Are We Competitive
3.
Do we have an Advantage.
Discussed examples of :-
- Federer Vs Nadal In Tennis.
- Bajaj Vs Honda in 2 wheelers.
- Gavaskar Vs Tendulkar Cricket.
In every market segment chosen the
product has to evolve through the viability chart.
Relative market share = Trial rate x Repeat Purchase.
Mraketing Mix :-
4 P’s of marketing
- Product
- Price
- Place
- Promotion
In service industry another 3 P’s
play a role
5. People
6.
Process
7.
Physical evidence
Example 4:-
Insurance works on physical evidence as operating principle.
Session 4
Case study on Nirdhos Bidi A herbal
smoking device done.
Market segments were identified as
below:-
- New Smokers:-
- Already smokers ( Quit smoking)
- Health
- International Market
Operating Principle of each segment to be analysed and
viability chart to be worked for each of the segments.
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