defining markets and marketing environment adapting to the new market economy

Defining markets and marketing environmentAdapting to the new market economy

What is Marketing???

Target Market & SegmentationMarketMeta market Marketers and prospects

Needs, Wants DemandsProduct, ServiceBrandValueSatisfactionBrand Value Proposition

Transaction

Buyer Seller

Marketing ChannelsCommunication channelsDistribution ChannelsService Channels

CompetitionBrand competitionIndustry competitionForm competitionGeneric competition

Marketing MixProduct

VarietyQualityDesign FeaturesBrand namePackagingSizesServicesWarrantiesReturns

PRICEDiscountsAllowancesCredit termsRebates

PromotionSales promotionAdvertisingSales forcePublic relationsDirect MarketingInternet marketing

PLACEChannelsAssortmentsLocationsInventoryTransport

Marketing mix strategySales promotion

Advertising

Sales Force

PR

Direct mail, tele marketing, internet

company

Product services prices

Distribution channels

Target customers

The selling concept

Producer Products selling profits

Target market customer needs integrated marketing profits

Marketing concept

Adapting marketing to the new environment

New technological advances & new market forces creating New economy

How to sustain ?

New forcesDigitalization & ConnectivityDisintermediationCustomizationInudtry convergance

The new EraCustomer segment focused vs product focusCustomer lifetime value Vs transactionsStakeholders Vs shareholders360 degree marketingBrand building through Behavior VS

AdvertisingCustomer retention Vs customer acquisition

Measuring Customer SatisfactionUnder delivering & Overpromising