Marketing concepts

1. Marketing & Strategy Knowledge
Concepts

2. 4Ps – Product Mix

3. 7Ps – Marketing Mix
 Booms & Bitner – Suggested 3 More P’s while marketing services
 People – Interaction
 Physical evidence – Certificates on the wall, Interior design, Presentation
 Process – Duration, Activities for Customer experience etc.

4. 4R’s of Marketing
 4P’s being more impractical to apply in real world due to the proliferation of
marketing channels, shift in consumer behavior, marketing strategy etc
 4R’s
 Recognition - Customer should recognize your product, should be aware of its features
and clearly identifiable by the target group
 Relevance - Should have something which your customer can actually use
 Reward - Some kind of reward for the customer for purchasing your product
 Relationship – Connect between customer and product so that customer buys again

5. 5C’s of Marketing
 Used to analyze the five key areas that are involved in marketing decisions for a
company and includes
 Customers - Determine what are the needs of customers
 Company - Determine if your company is in a position to meet those customer needs.
For this, you can do SWOT Analysis of your company
 Competition - Who competes with your company in meeting the customer’s needs
 Collaborators - Determine if there is any outside source or third-party help that can
help the company such as distributors, suppliers etc
 Context - Determine if there are any limitations due to Political, Economic, Social
Impact & Technological Developments
 PEST Analysis

6. PEST Analysis
 Political issues: legal problems, trade regulations, taxes or labor laws
 Economic issues: growth rate, labor costs, and business cycle stage
 Social impacts: demographics, education, and culture
 Technological developments: impact on cost structures

7. 4P’s & 4A’s of Marketing

8. 360 Degree Branding
 Creating a distinctive brand philosophy
which is focused on consumers
 A combination of integrated marketing
communications and web 2.0 usages
 Integrated marketing follows a user
centric approach and primarily focuses
on use of online and offline tools to
engage and excite consumers
 A web 2.0 usage pays more attention to
customer rating and social media as
consumers talk about the brand outside
of the boundaries of the brand

9. Active Marketing
 Proactive actions on the part of the marketer to connect and engage with potential
customers in order to build relationship and trust and to create a following
 Also called outbound marketing
 Online Activities
 Offline Activities
 when the product is categorized as a ‘want’ and not ‘need’
 When customers do not know the existence of your product/service
 When the sale cycle is long then marketers need to look out for potential customers,
educate them on the after sale services, discounts, benefits, other offerings and
convince them

10. A/B Testing
 Which variation or features in your website/application are increasing your
conversion rate and hence should be adopted
 Color
 Font
 Button Position
 Ads Position & Size
Email Marketing
A - Best Online Training Company
B – Save Ria from your company

11. ATL/ BTL Advertising

12. B2B
 Cotton -> spinning -> weaving -> tailoring -> distribution -> shirt
 B2B marketers are more rational
 B2B products are more complex
 Limited number of buyers
 Behavioural and needs based segmentation is less in number
 Maintaining personal relationships
 long term buyers
 The innovation levels in B2B markets are less as compared to consumer markets
 These rely less on packaging and other external appearances
 Sub-brands are not that effective in B2B zone
 Examples: Automobil, Pharma, Coffee Maker

13. B2C/ B2B2C
 Examples: Schools

14. BCG Matrix
 Performance measurement tool for the products of a company
 Bruce Henderson of Boston Consulting Group in the early 1970s
 strategic tool to analyse a business’s portfolio on the basis of relative market share
and industry growth rate
 a 2x2 matrix bifurcating products based on high and low growth rate and market share
 Relative market share= SBU Sales/ Leading competitors sales
 Market growth rate=Industry sales this year/Industry sales last year

15. BCG Matrix Flow
10x 1x 0.1x
Stars - High market share and survive in a
highly growing industry, Huge investments
for their competitiveness and businesses
Cash Cows - A huge market share but in a
slow growing or a mature industry, little
investment and huge returns, stable
income generating resource
? - Huge investments to maintain their
market share and the firm has to be very
vigilant to analyze these SBUs and decide
Dogs - Retrenchment strategies are taken
as these firms can gain market share only at
the expense of competitor’s/ rival firms

16. Red Ocean Vs Blue Ocean Strategy

17. Market Segmentation
 A process of dividing the entire market population into multiple meaningful segments
based on marketing variables like demographics (age, gender etc), geographic,
psychographics (lifestyle, behavior) etc.
 A set of homogeneous segments having similar needs, properties & demands

18. Brand
 Perception
 Trust
 Loyalty
 Royalty
 A different name or Logo helps (Can be identified by Logo, Tagline or Jingle)

19. Brand Equity
 A qualitative measure of the brand’s positive recognition or goodwill in the minds of
the consumers considering the brand as an independent entity
 Brand Equity is kind of power that the brand has over its competitors or the generic
brands and is developed over time
 +ve Brand Equity - Garnier beauty product
 -ve Brand Equity – Tata Nano fire incidence

20. Brand Equity