The overall Jist of what marketing actually is and proper techniques, concepts and myths about marketing. Ideal for beginners to begin with

2.  An exchange between 2 partners.
 A buyer and a seller
 May be no transaction is involved but exchange should be.
 An exchange between 2 partners.
 A buyer and a seller
 May be no transaction is involved but exchange should be.
 Seller’s Market
 Buyer’s Market

3.  Product Focused Market
 Customers approach
 Develop the product and reduce cost
 Profitability from the volume

4.  Customer focused Market
 What the customer wants?
 Customers = Different demands
 Profitability = Premium Price, Customer Share, Cross selling

5.  Customer to Customer
 Good and bad
 Deliver value + Top notch customer Service
 Eg. Restaurant
 Tight and uncertain economy = Cut costs +deliver value (disciplined and Flexible)

7.  Principle of Customer Value
 Principle of Differentiation
 Principle of Segmentation, Targeting and Positioning

8.  Product
 Place
 Promotion
 Price
Use of these principles in Non-Profit Marketing as well.

9. Framework of
Marketing
Know your market
Customers have the
final say
For me?
Product Features
Design
Attributes
Innovation/Technology
Operational Factors
Price/cost
Service/Reliability
First in the Market you
Serve
Structure your business
Prioritize/Allocate
Resources
People you Hire
Total Quality for
Customer Satisfaction

11.  Characteristics of the Customer
-Male/Female
-Rich/Poor
-Old/Young
-Location
 Benefits sought
-Running Shoes – Comfort, Aesthetics, Durability etc
 Systematic Product Related Behaviors
-Purchasing behavior
-By Channel

12. • Develop Measures of Segment
Attractiveness
• Select among attractive Segments Based on
Business Capabilities

13.  Formally, a proprietary trademark for a specific service or a product.
 Conceptually, a ‘contract’ from the company to it’s customer; a promise of specific
benefits, quality and value.
 Practically, brand is whatever the customer think it is.

14. Positioning refers to the place that a brand occupies in the mind of the
customer and how it is distinguished from products from competitors.

15.  A brand mantra is short (usually 2–5 words maximum) and encapsulates the
competitive frame of reference, the points of difference, the points of parity, and
everything else about your brand into one thought. A brand mantra is to brand
positioning what filter paper is to titration—they both remove the impurities,
refining and simplifying to an essential form.
Examples

16.  Differentiation
 Promise
 Attributes
 Static
 Mass
 Awareness
 Experience
 Relationship
 Personality
 Dynamic
 Individual
 Relevance

17.  Experiential branding is a process by which brands create and drive sensory
interactions with consumers in all aspects of the brand experience to emotionally
influence their preferences and to actively shape their perceptions of the brand.
 This can be explained on the basis of 4 P’s
-Place
-Product
-Price
-Promotion

22. The goal of the firm is to maximize shareholders value
Maximum profits through volume and cost reductions
Key performance indicators such as Market Share
Growth through extending the product
Product oriented organizational structure
The competitive advantage: Product Expertise

23. 1
Technology
enabled product
Development –
Commoditizatio
n
2
Technology
enabled
information flow
– Smart
Customers
3
Technology
enabled
Delivery –
Retail
Saturation
4
Globalization
5
Deregulation
6
Customers want
end-to-end
solutions, which
may require
products/service
s from multiple
vendors
7
Information
systems enable
customer-level
tracking

24.  Harrah’s, a Casino Chain in the U.S.
 Tesco, a grocery retailer in the U.K.

25.  It is a strategy that aligns a company’s development/delivery of it’s
product/services around the current and future needs of a selected set of
customers in order to maximize their long term financial value to the firm.
 Points in the definition which might be fire-able offenses
 Forward-looking incentive schemes stead of backward-looking schemes
-Building relationship with the customer
-increase in lifetime value of the customer

26.  The goal of the firm is to maximize shareholder value
 Celebrate customer heterogeneity: Distinguish the profitable customers from the
less profitable ones
 Focus on the future profitability (customer lifetime value) rather than past profits
 Success arises through enhanced customer acquisition, retention and
development.
 The competitive advantage – “Relational Expertise” with respect to focal
customers.
 The more you zoom in on the focal point of customer centricity the more average
valued customers are needed. Eg. Cash in stock portfolio

27.  90% of the goods sold as of 2015 in the world are offline/physical markets
 Some of the factors causing the friction
-Delivery time
-Uncertainty about the FITS AND FEELS of certain products
-Cost of returns (time and money)
Most what is transacted, is still getting transacted in the offline world.

28.  Virtual world sales VS Real world sales
 Competition is intense for popular products but almost non-existent for niche products.
 Eg: Harry Potter and the sorcerer’s Stone and 101 years of All Black Trivia
 VW sales would go down only for popular products

29. Real world Friction thrown on us:
• Friction of Search
• Geographic Friction
Virtual world helps overcome
above friction

30. -Supply Side
-Demand Side
-The Tyranny of Locality
-No 80/20 any more

32.  Floor
 Ceiling
 Lowered ceiling
 Lifted floor
Price Plasticity

33.  Ease of comparison
 Overall Expenditure
 Shared Experience
 Quality
 Proper Endings $3.99 or SAR3.95

34. Stroop Test

37. Coca Cola