MARKETING MANAGEMENT CAIIB GBM Module D by Dr Onkar Nath MARKETING CONCEPT A situation where buyers and sellers of a commodity interact Coming together of buyers and sellers of by owu16919

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									 MARKETING
MANAGEMENT
 CAIIB-GBM
  Module D
      by
Dr. Onkar Nath
MARKETING CONCEPT

A situation where buyers and sellers of a
commodity interact.
Coming together of buyers and sellers of the
same or similar commodities

MARKETING

Marketing is the process of determining
consumer demand for a product or service,
motivating its sale and distributing it into ultimate
consumption at a profit
EVOLUTION OF MODERN MARKETING

   Barter System
   Industrial revolution
   Digital revolution
   Customer and market driven
   Wants of customers
   CRM
   Customer Satisfaction
   Nothing is worthwhile unless it touches the
   customer
The Core Concepts of Marketing
  Needs, wants and demands
  Products (Goods, Services, and Ideas)
  Value, Cost and Satisfaction
  Exchange and transactions
  Relationship and Networks
  Marketers and Prospects
MARKETING MANAGEMENT
A process of planning and executing the conception,
pricing , promotion and distribution of goods and
services and ides to create exchanges with target
groups that satisfy customer and organizational
objectives.



Processes involved
      Analysis, planning, implementation, and control;
      Covers goods, services, and Ideas;
      Rests on the notion of exchange; and
      Goal is to produce satisfaction for the parties
      involved
Company Orientation towards the
Marketplace (Marketing Concepts)

• Production Concepts/Orientation
• Product Concept/Orientation
• Selling Concept/Orientation
• Marketing Concept/Orientation
• Societal Marketing Concept
SERVICE
A service is any act or performance that one party can
offer to another that is essentially intangible and does
not result in the ownership of anything. It’s production
may or may not be tied to physical product.

CHARACTERISTICS OF SERVICES
       Intangibility
       Inseparability
       Heterogeneity
       Perishability
S.No.       Physical Goods                  Services
 1.     Tangible                   Intangible
 2.     Homogeneous                Heterogeneous
 3.     Product and distribution   Production, distribution
        separated from             and consumption re
        consumption                simultaneous process
 4.     A thing                    A activity
 5.     Core value produced in     Core value produced in
        factory                    buyer-seller interaction
 6.     Customers do not           Customers participate in
        participate in the         production
        production process
 7.     Can be kept in stock       Cannot be kept in stock
 8.     Transfer of ownership      No transfer of ownership
Marketing Planning
Macro- and Macro-Factors influencing the market for an
organization's goods and services
Controllable Marketing Variables and the Macro-
Environment

Demographic Factors
  SKIPPIES : School Kids with Income and Purchasing
            Power
  MOBYS : Mother Older, Baby Younger
  DINKS : Dual Income No Kids
  DEWKS : Dual Earners With Kind
  PUPPIES : Poor Urban Professionals
  WOOFS : Well-Off Older Folks
Economic Factors
Natural Factors
Technological factors
Political and Legal factors
Social and Cultural Factors
Proximate Macro-Environment
 Competitive Environment
 Supplier Environment
 Distributive Environment
 Scanning and Adaptive to the Environment
 Intra-Firm (Micro) Environment
Applicability to Banking
  The competition environment in banking
  Retail Banking
  Technology impact on product/service scenario
  The changes in distribution plans
   The outsourcing or contracting out of non-core
  bank services
  Privatization
  Globalization
  Corporate banking
  Insurance
Meaning and importance of planning in
marketing
    Traditional planning
    Difference between a marketing plan and a
    company’s corporate plan
    Market-oriented strategic planning
    Difference between marketing plan and
    marketing planning process
          Marketing planning (process)
          Marketing plan
          Annual-plan control
Banking regulation and its impact on
marketing strategies
 Open market operations
 Current scenario
Consumer behaviour
Consumer behaviour : A directional Force
The complexity of consumer Buying
Decisions
Needs and Motives
     Physiological needs
     Safety needs
    Social needs
     Esteem needs
     Self-actualization

Individual Perception
     Selective perception
     Theory of cognitive dissonance
Learning and Habit development
     Habit-breaking
     Habit-acquisition
     Habit-reinforcement
Behaviour Models for Analyzing Buyers
The Marshallian Economic Model
The Pavlovian Learning Model
The Freudian psychoanalytic Model
The Veblenian Social Psychological Model
     Culture
     Sub-cultures
     Social Class
     Reference Groups
     Face-to-Face Groups
     Parent
Hobbesian Organizational Factors Model
Swinging singles to solitary survivors
Family buying roles
     Initiator
     Influencer
     Decider
     Purchaser
     User
Factors Influencing Consumer
Behaviour in Banking
   Location
   Safety
   Returns
   Customer Service
   Range of Services
   Easy Documentation and well-defined
   Eligibility Criteria
The art of customer service as applied to banking
Building customer satisfaction through quality,
service, and value
Customer Value satisfaction
Defining service quality
Managing Quality
Delivering Customer Value and Satisfaction:
Moments of Truth
      Well-conceived strategy for service
      Customer-oriented front-line people
      Customer-friendly systems
The Triangle Of Service
     Customer-service strategy connection
     customer-people organization connection
     Customer-system connection
     Systems-people; Strategy-systems; Strategy-
     people Connections
Customer Relationship in Services Marketing
  Giving Promises: The traditional or External Marketing
  Fulfilling Promises: Internal and Interactive Marketing
  Customer Care
Consumer and Market Segmentation
Criteria for market segmentation
  Meaningful
  Measurable
  Useful and reachable
Consumer and Market Segmentation
    Mass Markets and Segmentation
    Types of Consumer Segments
    Characteristics of segments
    Benefits and Disadvantages of Market
    Segmentation
    Alternative Strategies
    Evaluation
    Marketing Segmentation Strategy:
    Techniques
    Application of Segmentation of Banking
    Services
Marketing Research
Marketing research is research all about the
market: its size, composition, structure and so on
Marketing Research Process
Types of data – Primary and Secondary data
Quantitative and Qualitative Research
Methodologies
Time and cost constraints
The major uses of Marketing Research
Marketing Information System
Marketing Mix
 Marketing of financial services
 Bank marketing
 Service marketing mix
 Current development
Competitor Analysis
 Gap Psychiatry – A structural Methodology
 Build a strategic planning knowledge base
 Creating a sustainable advantage
 Speeds as Strategy
 Competitive Strategies
Product Strategy
 Nature of product
 Product and service
 Elements of Product Mix
 Product Life Cycle and Product Strategies
 Product Analysis
 New Product Development
 Branding and Marketing
 Role of Brand in Bank Marketing
The Concept of Product/Service Delivery
 Process Cycle in Product Development
 Packaging and Delivery
Pricing Strategy and its Application in
Banking
  Pricing for Profitability
  Elasticity of demand
  Pricing Methods/Strategies
  Pricing Decisions
  Pricing Concept in Banking
  Pricing Review and Committees
  Concept of Service Fees
Bank Distribution Strategies
  Distribution of Financial Services
  Barriers
  Channels of Distribution for Banks
Promotion Strategy
 Communication Process
 Goals of Communication
 Advertising and Sales Promotion
 Sales Promotion
 Publicity
 Internal Communication
 Marketing Information System (MIS)
 Moments of Truth: Customer Care
Sales Training and HRD in Marketing
 Proper Attitude Orientation of Staff
 Selling Skills Required
 Need and Importance of Sales Training
 Sales Training and Strategy
 Selling process
 Impact of Training as HRD Intervention in Marketing
 Direct Sales Force
 Importance of Quality Service
 Public Relation and Institution Image
? ueries

								
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