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Delhi

Marketing

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Published in: Management Subjects
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Marketing Power Point

Meera's C / Mumbai

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Teaches: All Subjects, Computer, English, EVS, Geography, History, Language, Mathematics, Science, Special Education, Accountancy, Anatomy, Arts Group, Bio Technology, Biology, Botany, Business Economics, Business Mathematics, Business Organisation, Business Studies, Chemistry, Commerce Subjects, Computer Science, Economics, Home Science, Information Practice, Philosophy, Physics, Physiology, Psychology, Sociology, Zoology, Algebra, Hindi, Marathi, NSTSE, NTSE, School Level Computer, Social Studies, Political Science, Statistics, Vedic Maths, Actuarial Science, B.Com Tuition, B.Ed Tuition, B.Sc Tuition, B.Tech Tuition, BA Tuition, BBA Tuition, BCA Tuition, BMS Tuition, Business Statistics, Civics, Direct Tax, Electronics, Human Anatomy, M.Com Tuition, M.Sc Tuition, M.Tech Tuition, Pharmacy, Public Administration, Taxation, AIEEE, AMIE, Architecture, BCA Entrance, BITSAT, CET, EAMCET, GATE Exam, IIT JAM, IIT JEE Advanced, IIT JEE Mains, JECA Exam, JELET, JEXPO, MCA Entrance, NATA Exam, NIMCET, Polytechnic Entrance, WBJEE, Corporate Communication, Effective Communication, IELTS, Public Speaking, Spoken English, TOEFL, Administrative Laws, Civil Laws, CLAT, Company Laws, Constitutional Law, Contract Act Laws, Criminal Laws, Jurisprudence, Law Entrance, LLB, LLM, Tax Laws, Bachelor of Hospital Administration (BHA), BBA Entrance, BBA Subjects, BBM, BHA, BTTM, Business Management, Corporate Finance, Finance, Forex Trading, Human Resource, Human Resource and Marketing, International Business Marketing, Management Subjects, MBA Entrance, MHA, MTTM, AICEE, AIPG Exam, AIPMT, BDS, COMEDK Exam, MBBS Tuition, MCI Exam, Medical Entrance Exams, NDEB Exam, NEET, PG Medical, PLAB 1 Exam Preparation, PLAB 2 Exam Preparation

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  1. Marketing Industrial Buying Behaviour By Meera's classes
  2. Industrial Buying Behaviour Industrial buyers purchase goods for manufacturing other products. The term organizational buyer, industrial buyers and business buyer mean the same thing.
  3. Industrial buying decision making process Need recognition Determining product specification — quantity and quality Search for suppliers Analysis of proposals Selection of suppliers
  4. Industrial Buying Behaviour Selection of an order routine Post purchase evaluation
  5. Decision-making units (DMUs) and their composition Decision making power in industrial buying is shared by few persons jointly — such joint authority are called Decision-Making Units
  6. Participants industrial buying process Actual User Influencer — may or may not be a part of organization Buyer Decider Gatekeeper
  7. Factors influencing purchase decisions Economic environment Organizational factors Interpersonal factors Individual factors
  8. WHAT ISA PRODUCT A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. Physical Products. Services. Experiences Events Persons. Place Properties Organization Information Idea. •u O
  9. Five product levels core benefit Of the p rod uct generic product ex pected product augtmented product potential product
  10. Product Levels: The customer value hierarchy In planning its market offering, the marketer needs to address five product levels. Each level adds more customer value. Five levels constitute a customer vale hierarchy. Core benefit — the service or benefit the customer is buying. A hotel guest is buying rest and sleep
  11. Product Levels: The customer value hierarchy Basic product — The hotel room includes a bed, bathroom, towels etc. Expected product — A set of attributes and conditions buyers normally expect when they purchase this product. Augmented product — It exceeds customer expectations In India, there is a visible move towards augmented products
  12. Product Levels: The customer value hierarchy Augmented products Each augmentation adds cost. Augmented benefits soon become expected benefits. As companies raise the price of their augmented product, some competitors offer a stripped down version. Potential product — It encompasses all the possible augmentation and transformations the product or offering might undergo in the future.
  13. Product classifications Products can traditionally be classified on the basis of the following characteristics: Durability Tangibility Use ( Consumer or Industrial)
  14. Product classifications Nondurable goods They are tangible products normally consumed in one or a few USeS. Soap Durable goods They are tangible goods that survive many uses Services They are intangible, inseparable, variable and perishable products.
  15. Product mix - Product assortment A product mix is a set of all product lines and items that a a, b, c, d. particular seller offers for sale to buyers. Width:- different product line a co. carries. Length:- refers to the no of items in product mix Depth:- how many variants are offered of each product in the line Consistency:- how closely related the various product lines are in the end use, prodn requirements, distribution channels or some other way.
  16. Product-Mix Width Home and Personal Care (HUL) Personal Wash Lux Lifebuoy Liril Hamam Breeze Dove Pears & Rexona Laundry Surf Excel Rin Wheel Skin Care Fair & Lovely Ponds Hair Care Sunsilk Naturals Clinic Dove Oral Care Pepso dent Close- up Deodorants Axe Rexona Color Cosmetics Laxme
  17. Product-Line Analysis Companies normally develop a basic platform and modules that can be added to meet different customers. This modular approach enables the company to offer variety while lowering production costs.
  18. Product line decisions Line stretching It occurs when a company lengthens its product line beyond its current range The company can stretch its line down-market, up-market or both ways.
  19. Product line decisions Line filling A product line can also be lengthened by adding more items within the present range. Line filling is overdone if it results in self-cannibalization and customer confusion. The company needs to differentiate each item in the consumer's mind.
  20. Product line decisions Line modernization Product lines need to be modernized. The issue is whether to overhaul the line piecemeal or all at once. Line pruning Product line contraction It is necessary when the product lines of the company have become unduly long and complicated.
  21. New product development The company can develop new products in its own laboratories or it can contract with independent researchers or new development firms to develop new products.
  22. New product development Six categories of new products can be identified : New to the world products New product lines Additions to existing product lines Improvement and revisions of existing products Repositioning Cost reduction
  23. New product development Less than 10 percent of all new products are truly innovative and new to the world. These products involve the greatest cost and risk because they are new to both the company and the marketplace. Most new-product activity is devoted to improving existing products. Companies that fail to develop new products are putting themselves at risk.
  24. New-product development decision process I . Idea generation Interacting with various groups. 2. Idea screening Promising ideas, marginal ideas and rejects The purpose of screening is to drop poor ideas as early as possible.
  25. New-product development decision process 3. Concept development and testing Concept testing involves presenting the product concept to target consumers and getting their reactions. Virtual reality 4. Marketing strategy It includes target market size, structure and behaviour Product positioning Sales
  26. New-product development decision process 5. Business analysis Management evaluates the proposal's business attractiveness. 6. Product development Physical prototypes Customer tests 7. Market test Trial, first repeat, adoption and purchase frequency
  27. New-product development decision process 8. Commercialization Timing Geographic strategy Target market prospect Introductory market strategy
  28. a a THE PRODUCT LIFE CYCLE. The product life cycle portrays distinct stages in the sales history of a product. To say that a product has a life — cycle is to assert four things Products have a limited life. Products pass through distinct stages. Products rise & fall at different stages. Products have a different mktg, financial, manufacturing, purchasing & personnel strategies in each stage.
  29. The PLC concept can be used to analyze a : Product category. Product form. Brand. Product categories have the longest life cycles, Product form exhibit the std PLC histories. Branded products tend to have short PLC's,
  30. Product Life Cycle $Sales (units sold) Grovfth Introduction Mamrity profit. Declme Time*
  31. 1. INTRODUCTION STAGE:- -- It takes several time to roll out the product in several markets & to fill the dealer pipelines. -- Profits are negative because of the low sales & heavy distribution & promotion expenses. -- Prices tend to be on high — side. High Price Low Hi h Rapid Skimming Strategy Rapid Penetration Strategy Low Rapid Skimming Strategy Rapid Penetration Strategy Promo- tion
  32. 11. GROWTI+STXG -- the early adopters like the product & middle consumers start buying the product. - now competitors enter the market. - price may remain same or may fall slightly. - profits increase. majority Strategies in the Growth Stage:- -- Improve product quality. -- Adds new model. -- Enters new markets segment. -- New distribution channels. -- Advertising done to build product conviction & purchase. -- Lowers price. Firms in this stage faces a trade — off between high market & high current profit.
  33. 111. ATURITVSTX -- This stage lasts longer than the previous stages. -- Most product are in the maturity stage of the life cycle; most of mktg management deals with the mature products. -- Growth maturity. -- Stable maturity. -- Decaying maturity. -- Competition intensifies. -- Increase advertising. -- increase R & D. -- the issue facing a firm in a mature market is whether to become one of the 'big three' or to pursue a niching strategy.
  34. STRATEGIES IN THE MATURE STAGE 1. 11. 111. MARKET MODIFICATION. - try to expand the no. of brand users. - convert non — users. - enter new market segment. - win competitors customers. - more frequent use. - more usage per occasion. - new & more varied uses. PRODUCT MODIFICATION. - Quality improvements. - Features improvements. - Style improvement. MKTG - MIX MODIFICATION.
  35. DECLINE STAGE. - Technological advances. - Consumer shifts in tastes. - Increased foreign & domestic competition. - Unless strong reasons exists, carrying a weak product is very costly to the firm. MARKETING STRATEGIES DURING DECLINE STAGE, - Identifying the weak products. - Determining mktg strategies. - The Drop Decisions.

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