Discussion Point(s) 1. Name / Introduction 2. Sales force 3. Syllabus 4. Class participation Discussion • What is business? • What does come to your mind? • What is marketing? • Tell some marketing strategy that you believe to be good • Value / satisfaction of customer (Indigo / Kingfisher Airlines) Some discussion • Jio strategy ? Any thought • 4 Ps • 7 Ps • Various kind of relationship with the customers • Should you cater all the customers or leave some customers • Ansoff grid Marketing Management through the Concept of 4Ps, Introduction to Branding Product Product variety Returns Quality Warranties Design Services Features Sizes Brand name Packaging Price • List price • Discounts • Allowances • Payment period • Credit terms Promotion Sales promotion Advertising Sales force Public relations Direct marketing Place • Channels • Coverage • Assortments • Locations • Inventory • Transport Understanding the 4 As of Marketing • Acceptability • Affordability • Accessibility • Awareness Modern Marketing Management Four Ps People Processes Programs Performance How to use “Executionable” marketing Strategy using 4Ps? Customer focused strategy How to segment the market? How much profitable each segment is? What are the characteristics of customers in each segment? What is post-purchase feedback? Developing new product What customer thinks about new product? What modification is required in existing offerings? What is the branding strategy of the offering? Let’s work on packaging and logo Positioning the offering What does competitor offer in the market? Let’s decide the positioning strategy Can we consider repositioning the offering? Promotion & Communication Activities Advertisement Objectives What the advertisement should look like? Where to place advertisement? When should we advertise? Is advertisement meeting its objectives? Sales promotion Objectives Is sales promotion effective? Pricing Decision What price to be charged? Are customers sensitive toward price? How would you set price for a product or services? Distribution Decision How and where does customer want to shop? What customers should experience in store? Let’s design the store for customers Are 4Ps or 7Ps are interrelated? Discussion Points How are the related? What kind of benefits can you derive from the interrelation among 4Ps? What is Brand? • Please write down certain points which are coming to your mind when you hear the word Brand or Branding…… Story of Branding A branding iron is used for branding, pressing a heated metal shape against an object or livestock with the intention of leaving an identifying mark The history of branding is very much tied to the history of using animals as a commodity What was the purpose of hot iron branding? Why do we need “Branding”? What is your understanding of top-line? What is the probable impact of brand on topline? Profitability impact Asking for premium Differentiation Vs Cost Leadership Escaping commoditization Lower cost of acquisition of clients What are the potential challenges of Branding? Challenges Treating Possessing Creating Generating Achieving Treating brands as assets Possessing a compelling vision Creating new subcategories / Brand Extensions Generating breakthrough brand building Achieving integrated marketing communication Building Building a digital strategy Building Building your brand internally Maintaining Maintaining brand relevance Creating Leveraging Creating a brand-portfolio strategy that yields synergy and clarity Leveraging brand assets to enable growth What consists of brand identity? Who are you? Who needs to know? How will they find out? Why should they care? Brand Identity • Great brands are like friends—you encounter a huge number of them everyday, but you only remember the ones you love How can we create strong brand? Brand Model • Brand Dynamics Pyramid • Brand Resonance Pyramid Brand Dynamics Pyramid Brand Resonance Pyramid What do we understand by “Brand Equity”? Brand Equity? This Photo by Unknown author is licensed under CC BY-SA. The assets of Brand Equity Brand Awareness Perceived Quality Brand Associations Brand Loyalty Other brand Assets How would you measure brand value? THANK YOU ANY QUESTION? ANY COMMENTS ? Some Quiz Questions?? 1. What do you understand by marketing? Give some elaboration 2. Mention some names of companies which you feel, are good at marketing? Why? 3. What is need, want & demand? 4. Name any product….how do start marketing for this product? Some Quiz Questions?? 1. Consider the three key forces driving the new marketing realities. How are they likely to change in the future? 2. What other major trends or forces might affect marketing? Consider the three key forces driving the new marketing realities. 3. How are they likely to change in the future? What other major trends or forces might affect marketing? 4. How can we grow our business? 5. How can we keep our customers loyal longer?
