001 mktg session

Deepak Sundrani

B.E. (Civil)

M.E. (Construction Management)

M.B.A. (Marketing)

LL.BDoing Ph.D. (Consumer Behaviour in Real Estate)

Experience

15 years in Marketing ( Cement, RMC, etc.)

5 years in teaching

(MBA Institutes + NICMAR)

MCM 116

Marketing Management

Distribution of sessions

Prof Deepak Sundrani : 12 sessions

Prof. Purandare : 8 sessions

Total 20 sessions of 80 minutes each

in first trimester

Tentative Break up of 12 sessions (Prof. Sundrani)

1) Basic Marketing : 7 + 2 = 9

2) Class Test 1

3) Real Estate Marketing : 1 + 1 = 2

---------------------------------------------------------

Total 12

Prof. Purandare : 8 sessions

1) Project Marketing

2) Industrial Marketing

Guidelines for Presentations by students

1) Each group will have 5-6 students

2) Each group to give presentations in

Power Point , using LCD projector.

3) All the members of the group shall give

presentation

4) Each presentation will last for 12 minutes and

remaining 2 minutes for Question Answers

5) Presentation will carry 10 marks.

6) Note : A picture speaks more than a thousand words

Marks

Internal : 30 Marks, Term end : 70 marks

Internal Marks (Prof. Sundrani): 20 marks

10 marks for Presentation

10 marks for Internal test

Internal Marks (Prof. Purandare): 10 marks

Basic

Marketing

Reading Material1) Principles of Marketing : 12th edition

by Philip Kotler & Gary Armstrong

2) Books for South Asian Examples :

(i) Principles of Marketing : A South Asian Perspective, 13th edition

by Kotler, Armstrong, Agnihotri (IIMC), Haque (Lahore)

(ii) Marketing Management, A South Asian Perspective. 13th edition

by Kotler, Keller, Koshy (IIMA) and Jha(IIMB)

Other books

1) Marketing

by Lamb, Hair, McDaniel

2) Marketing Management

by Rajan Saxena

3) Marketing Management

by Arun Kumar

Other sources1) Magazines (4Ps) and Business

Magazines

2) Journals (Indian Journal of Marketing) and others

3) Internet – google, etc

4) PROQUEST data base

5) Newspapers

6) TV : NDTV Profit : All about Ads (Thursday 8.30 pm , Sat 9.30 am, Sunday 6.30 pm),

7) Website : www.madaboutads.com

Basic Concepts

Difference betweenSelling and Marketing

Difference betweenSelling and Marketing

Marketing is much more than selling.

Selling is the tip of the iceberg

The aim of Marketing is to make selling unnecessary.

Peter Drucker

Management Guru

Queue for purchase of iPhone 4on the day of launch

iPhone 4

Definition

Marketing

process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Marketing process

Step I Understand the market place and customer needs and wants

Step II Design a customer-driven marketing strategy

Step III Construct a marketing program that delivers superior value

Step IV Build profitable relationships and create customer delight

Step V Capture value from customers to create profits and customer equity

The first four steps of Marketing process involve Building Customer Relationships by creating and delivering superior customer value.

The final step involves capturing value in return in the form of current and future sales, market share and profits

Step IUnderstanding the market place and

customer needs 1) Needs – basic (Example : Food)

Wants – specifics to satisfy need (Eg. : Pulav)

Demands – Want backed by buying power (Mercedes Benz)

2) Market offering – some combination of products, services, information, or experiences offered to the market to satisfy a need or want.

Marketing Myopia - Theodore Levitt

Marketing Myopia

By Theodore Levitt

Harvard Business Review, Sept-Oct 1975

Full text (pdf) available on Google

3) Customer Value* and satisfaction

The painting The Card Players by Paul Cézanne bought for $ 250 Million ( Rs. 1250 crores) in 2011

by Royal family of Qatar

Mona Lisa by Leonardo da Vinci ( at Louvre, Paris)is worth about $ 750 million (Rs. 3750 crores)

M F Hussain’s Battle of Ganga & Jamuna sold for $ 1.6 million ( Rs. 8 crores)

The Swedish Treskilling yellow stampThe price it sold for in 2011 is estimated to be above £1.7 million GBP

(Rs. 14 crores)

Black on Magenta stampBack in 1980 it was auctioned to the industry magnate John Dupont

for $935,000. Today's value, who knows?

4) Exchanges – obtaining desired object from someone by offering something in return

Relationships – CRM

5) Market : A set of actual and potential buyers of a product

Market

Step IIDesigning a customer driven

Marketing Strategy

6) Marketing Management – art and science of choosing target markets and building profitable relations with them.

Marketing Manager’s aim is to find, attract, keep, and grow target customers by creating, delivering and communicating superior customer value

7) Market segmentation

Target marketing

8) Demarketing

9) Value proposition – set of benefits or values it promises to deliver to consumers to satisfy their needs (differentiation)