topic (markeitng mix)
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More about theMore about theMARKETING MIXMARKETING MIXMore about theMore about theMARKETING MIXMARKETING MIX
KRITHIKA G.KKRITHIKA G.K
Asst. ProfessorAsst. Professor FMSFMS
NIFT, BangaloreNIFT, Bangalore
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PRODUCT MIXPRODUCT MIXPRODUCT MIXPRODUCT MIX
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Product mix / assortment is theset of all product lines and items
that a particular seller offers forsale.
- Kotler & Armstrong
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4 Dimensions of Product Mix
Width
Length
Depth
Consistency
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HUL Product MixHome & Personal Care Foods
PersonalWash
Laundry SkinCare
HairCare
OralCare
Deos. Ayur.&
Health
Care
ColourCosmetics
Tea Coffee Foods Ice-Crea
m
Lux
Lifebuoy
Linil
Hamam
Breeze
Dove
Pears
Rexona
Surf Excel
Rin
Wheel
Fair &Lovely
Ponds
Vaseline
SunsilkNaturals
Clinic
Pepsodent
Close-Up
Axe
Rexona
Ayush Lakme BrookeBond
Lipton
BrookeBondBru
Kissan
Knorr
Annapurna
KwalityWalls
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INDIVIDUAL PRODUCTINDIVIDUAL PRODUCTENTITIESENTITIESINDIVIDUAL PRODUCTINDIVIDUAL PRODUCTENTITIESENTITIES
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Individual Product Decisions
Product
AttributesBranding Packaging Labeling
Product
Support
Services
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Product AttributesProduct AttributesProduct AttributesProduct Attributes
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Product Quality
Product Features
Product Style & Design
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Characteristics of a
ServiceIntangibility Inseparability
Variability Perishability
Services
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PRICINGPRICINGPRICINGPRICING
Krithika G.KKrithika G.KAsst. ProfessorAsst. ProfessorFMSFMS
Topic 7
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The amount of money charged for aproduct or service, or the sum ofthe values that consumers exchange
for the benefits of having or usingthe product or service.
- Kotler & Armstrong
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Factors affecting Price
Decisions
INTERNAL FACTORS
Marketing Objectives
Marketing Mix Strategy
Costs
Organizational
Considerations
EXTERNAL FACTORS
Nature ofthe
marketand demand
Competition
OtherEnvironment
factors (economy,resellers, government)
Pricing
Decisions
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Steps in setting the Pricing
Policy1. Selection the
Pricing Objective
2. Determining Demand
3.Estimating Costs
4. Analyzing
competitors
costs, prices & offers
5. Selecting a
Pricing Method
6. Selecting the
Final Price
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DISTRIBUTIONDISTRIBUTIONCHANNELSCHANNELSDISTRIBUTIONDISTRIBUTIONCHANNELSCHANNELS
Krithika G.KKrithika G.K
Asst. ProfessorAsst. Professor
FMSFMS
Topic 8
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Marketing Channelsare a setof interdependentorganizations involved in theprocess of making a product or
service available for use orconsumption.
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Five Marketing Channel Flows for ForkLift Trucks
Suppliers CustomersManufac-
turersDealers
2.Title Flow
Suppliers CustomersManufac-
turersDealers
Advertising
Agency
Advertising
Agency
5. Promotion Flow
Transporters,
Warehouses,Banks
Transporters,
Warehouses,Banks
Suppliers CustomersManufac-turers
Dealers Transporters,Banks
4.Information Flow
Suppliers CustomersManufac-
turersDealersBanks Banks Banks
3. Payment Flow
Suppliers CustomersManufac-
turersDealers
Transporters,
Warehouses
Transporters,
WarehousesTransporters
1. Physical Flow
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Channel Levels
Zero-level Channel / DirectMarketing Channel
One-level Channel
Two-level Channel
Three-level Channel
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PROMOTIONPROMOTION
MIXMIX
PROMOTIONPROMOTION
MIXMIX
Krithika G.KKrithika G.K
Asst. ProfessorAsst. Professor
FMSFMS
Topic 9
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The Communication Process
Thought Encoding Reception Decoding Understanding
Transmission
ofMessage
Feedback
Noise
Sending Receiver(Target Audience)
Selective Attention
Selective Distortion
SelectiveR
etention
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Developing EffectiveDeveloping EffectiveCommunicationsCommunicationsDeveloping EffectiveDeveloping EffectiveCommunicationsCommunications
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8 Steps in Developing EffectiveCommunications
1. Identify Target Audience1. Identify Target Audience
2. Determine Objectives2. Determine Objectives
3. Design Communications3. Design Communications
4. Select Channels4. Select Channels
5. Establish Budget5. Establish Budget
6. Decide on Media Mix6. Decide on Media Mix
7. Measure Results7. Measure Results
8. Manage Integrated Marketing Communications8. Manage Integrated Marketing Communications
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Communication ChannelsCommunication ChannelsCommunication ChannelsCommunication Channels
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1. Personal Communication Channels
Channels through which two or more peoplecommunicate directly with one another whether faceto face, by telephone, mail or the internet
2. Non-Personal Communication Channels
Media that carry messages without personal contact
or feedback, including major media, atmospheres andevents.
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Personal Communication Channels
Advocate Channels
Expert Channels
Social Channels
How to make them work?
1
. Identify influential persons/companies2. Create opinion leaders3. Work thru community influencers4. Use influential & believable people5. Develop ads with high conversation value6. Develop word-of-mouth referral channels7. Estb. an electronic forum
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Non-personal
Communication Channels
Media
Atmospheres
Events
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Deciding the MEDIA /Deciding the MEDIA /PROMOTION MIXPROMOTION MIXDeciding the MEDIA /Deciding the MEDIA /PROMOTION MIXPROMOTION MIX
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The Promotional Tools1. Advertising
2. Sales Promotion
3. Events &
Experiences
4. PR & Publicity
5. Personal Selling
6. Direct Marketing
7. Interactive
Marketing
8. Word of MouthMarketing
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1. Advertising Any paid form of non-personal
presentation and promotion ofideas, goods or services by anidentified sponsor.
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2. Sales Promotion Short-term incentives to encourage the
purchase or sale of a product or service
Characteristics:
Communications
Incentive
Invitation
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Some Examples of Fashion
Sales PromotionTRADE PROMOTIONS CONSUMER PROMOTIONS
Exhibitions
TradeFairsSales Competitions
Fashion Shows
Point of Sale
Special Discounts
Coupons
CompetitionsMultipacks
Special Offers
Tie-ins
Gifts
Source: Fashion Marketing, Edited by Mike Easey,1995, Blackwell Science Ltd.,USA, Fig 9.6, pp182
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3. Public Relations & Publicity
A major mass promotion tool for building goodrelations with the companys various publics byobtaining favorable publicity, building goodcorporate image, handling or heading off
unfavorable rumors, stories & events.
Characteristics:
High credibility
Ability to catch buyers off guard
Dramatization
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The Scope for Fashion Public Relations
Publicity Tools:
Press ConferencesPress ReleasesPress Kits / PacksPress ReceptionsPress Store &Factory Visits
Media Events
Example Activities
Store OpeningsCelebrity AppearancesDesigner AffiliationsPersonal ChangesFashionShowsSponsorships
Design Awards
Public
ConsumersSuppliersShareholdersEmployeesGovernmentCommunity
Unions
MEDIAMEDIA
COMPANYCOMPANY
Source: FashionMarketing, Edited byMikeEasey,1995, BlackwellScience Ltd.,USA, Fig 9.7, pp188
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4. Personal Selling Person-to-person communication in which
the seller attempts to assist and/orpersuade prospective buyers to purchase
the company's product or service or toact on an idea.
Characteristics:
Personal Confrontation
Cultivation
Response
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Major Steps in the Selling
Process
PROSPECTING& QUALIFYINGPROSPECTING& QUALIFYING
PRE-APPROACHPRE-APPROACH APPROACHAPPROACHPRESENTATION &DEMONSTRATIONPRESENTATION &DEMONSTRATION
HANDLINGOBJECTIONSHANDLING
OBJECTIONSCLOSINGCLOSING FOLLOW-UPFOLLOW-UP
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5. Direct Marketing
Direct Communications with carefully
targeted individual consumers toobtain an immediate response andcultivate lasting customer
relationships
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Characteristics of Direct Marketing:
Non-public
Customized
Up-to-date
Interactive
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Forms of Direct Marketing
Customers& Prospects
Tele-marketing
Direct MailMarketingCatalogue
Marketing
DirectResponseTelevision
Marketing
Kiosk
Marketing
OnlineMarketing Face-to-face
Selling
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Characteristics of PromotionalMethods
FACTOR ADVERTISING SALESPROMOTION
PUBLICRELATIONS
PERSONALSELLING
SOURCE
CREDIBILITY
Fair Fair & Variable Good Fair to Low
MESSAGE
CHARACTER
Standard Standard Standard Specific to
Buyer
MESSAGE
CONTROL
Total Total Limited by
Media
Controls
Total
TARGET
AUDIENCE
Mass Mass, but can be
limited
Mass Small
COST PER
TARGET
BUYER
Low Low Low High
Source: Fashion Marketing, Edited by Mike Easey,1995, Blackwell Science Ltd.,USA, Fig 9.3, pp171
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Factors involved in settingthe Promotional Strategy
Type of Product Market
Push vs. Pull Strategy
Buyer-Readiness Stage
Product Life Cycle Stage
Company Market Rank