role of stp for marketing a periodical(1)

8/3/2019 Role of STP for Marketing a Periodical(1)

1/23

By: Abhishek Mishra

Rahul Jogi

Ram Upadhya

Ravi Shah

Tahjib Patel


2/23

Flow of PresentationIntroduction to Service Sector

Difference between Physical Goods & Services

Characteristics of Services

Performance Analysis

Encounter & Levels of Services

Importance of STP

Market Segmentation & Target Market Selection

Positioning & Service Delivery System

Primary Research

Conclusion

Recommendation


3/23

The services sector has been growing at therate of 8% per annum in recent years.

More than half of our GDP is accounted forfrom the services sector.

This sector dominates with the best jobs, best

talent and best incomes.

The Service Sector

There are no such thing as service industries. There are onlyindustries whose service components are greater or less than thoseof other industries. Everybody is in service. - Theodore Levitt


4/23

Physical goods Services

Tangible Intangible

Homogeneous Heterogeneous

Production and distribution are

separated from consumption

Production, distribution and

consumption are simultaneousprocesses

A thing An activity or process

Core value processed in factory Core value produced in the buyer-seller

interaction

Customers do not participate in the

production process

Customers participate in production

Can be kept in stock Cannot be kept in stock

Transfer of ownership No transfer of ownership

Difference between Physical Goods &Services


5/23

Characteristics of services:

Intangibility

InseparabilityPerishabilityVariability

The Three Additional Ps of Service Marketing:

PeoplePhysical evidenceProcess


6/23

Importance Performance

Analysis

Concentrate

Here

Keep up the

good work

Low Priority Possible Overkill

IMP

ORTACE

P E R F O R M A N C E


7/23

Encounter of Services

High Contact

Services

Medium Contact

Services Low Contact Services

People process

Possession

Processing

Mental Stimuli

processing

Informationprocessing


8/23

Car repair Barber

Air lines

Low

Low

High

Hig

h

Contact

AudienceSize

PeriodicalMagazine Air lines

Encounter Levels of Services


9/23

Theoryand Importance of STP:

SEGMENTATION:IDENTIFYING

MEANINGFULLYDIFFERENT GROUPS OF

CUSTOMERSTARGETING:

SELECTING WHICH

SEGMENT(S) TOSERVE

PRODUCT PRICE

DISTRIBUTION

PROMOTION

POSITIONING:IMPLEMENTING

CHOSEN IMAGE &APPEAL TO CHOSENSEGMENT


10/23

Market Segmentation

Mass

Market

Niche Micro-

marketing The

Individual

Personal-

izationMicro-

marketingNicheStandardizedMarketing

Mix


11/23

Target Market SelectionIdentify Total MarketIdentify Total MarketDetermine Need forDetermine Need for

SegmentationSegmentation

Determine Bases forDetermine Bases for

SegmentationSegmentation

Profile Each SelectedProfile Each Selected

SegmentSegment

Assess Potential ProfitabilityAssess Potential Profitability

of Segment and Selectof Segment and Select

Target SegmentTarget Segment

Select PositioningSelect Positioning

StrategyStrategy

Develop and ImplementDevelop and Implement

Appropriate Marketing MixAppropriate Marketing Mix

Monitor, Evaluate andMonitor, Evaluate andControlControl


12/23

PRODUCT

POSITIONING:IMPLEMENTING CHOSEN

IMAGE & APPEAL TOCHOSEN SEGMENT

PREMIUM

BASIC

DURABL

E

PROMOTION

PRESTIGE

FUN

POWERFUL

PREMIUM

VALUE

LOWPRICE

PREMIUM

DISTRIBUTION

EXCLUSIVE

SELECTIVE

INTENSIVE

Positioning


13/23

Technical Core

Advertising

Market ResearchSurvey

Billings/Statements

Random exposure toFacilities, personnel

Word of Mouth

TheCustomer

HomeDelivery

Self ServicesEquipment

Phone,

Web site

Back Stage(Invisible)

Front Stage(Visible)

Service operationssystem

Other Contact pointsServiceDeliverySystem


14/23

PrimaryResearch

Sample Size : 100

Area for research: Ahmedabad:Iscon MallCentral MallC G Road


15/23

1222

48

18

0

10

20

30

40

50

60

less than 15 15 to 25 25 to 45 more than45

Age & Background of People who read PeriodicalMagazines

32

16

3 9

16

24

0

5

10

15

20

25

30

35


16/23

63

1216

9

0

10

20

30

40

5060

70

English Gujarati Hindi Others

Language Preference Statistics

3639

169

0

5

10

1520

25

30

35

40

45

Less than30 min

30 to 60min

60 to 120min

More than 2hr

Time Spent for Reading


17/23

Qualityofservice

33

12

5

39

11

0510152025

30354045

StronglyAgree

Agree Not Sure Diasagree StronglyDisagree

17

37

6

26

14

051015

2025303540

StronglyAgree

Agree Not Sure Disagree StronglyDisagree

QualityofContent


18/23

Age 48 25 to 45

Occupation 32 Businessman

Income level 42 10000 to 40000

Time spend 39 30 to 60 min

Language 63 English

Types of Magazine 43 Economy and Business

Service Setisfaction 39 Strongly Agree

Place for read 42 Home

Delivery time 37 Excellent

Summaryof PrimaryResearch


19/23

Personal Interviews

ISCONMALLCENTRAL MALL

IIPM COLLEGECENTRAL MALL


20/23

Focus GroupDiscussion:

CONDUCTEDBETWEENSIX PEOPLE ABOUT

BUSINESS MAGAZINE:

1. All agree with quality ofcontent.

2. But disagree with servicedelivery.

3. Maximum people want

supplements and wouldlike get them with everycopy of the magazine.

CONDUCTEDBETWEENSIX PEOPLE ABOUTENTERTAINMENT&SOCIAL MAGAZINE:

1. Here, they want more

detailed content.2. They are happy with the

quality of service butwould like more articleson specific cultures.

3. They would alsoappreciate if they getsome interactive mediaand gift vouchers with themagazine.

Place: H.L. College of Commerce Place: L.D. Arts College


21/23

Conclusion:

Most of the customers are dissatisfied withthe quality of service and quality of content.

So the companies have to focus on thisaspect and to improve the quality withrespect to the content and service so as to

retain present customers and build up atrust-worthy organization.


22/23

Recommendation:

Improve follow up on sales lead.

Build customer loyalty.

Enter into strategic alliances with companies that have similar customer base.

Outsource business.

Keep a track of underperforming employees.

Consider hiring a public relation firm.

Make sure that you are getting the most off your advertising expenses.

Ask for referrals.

Create incentives.


23/23

role of stp for marketing a periodical(1)

Documents