Basic of marketing

Types of need Needs:-

a. Physical
b. Social
c. Psychological

Marketing:-

1. Identify customer needs

2. Develop a product for that need
3. Exchange the product for profit in terms of money

Marketing mix:-

a. Product
b. Price
c. Place
d. Promotion

Product mix:-
Entire range of product offered by a co

 Product line (soap)

 Product width
 Product depth

Promotion mix:-
Various tools for promotion used by any co, there are 6 tools only

1. Advertising
2. Personal selling
3. Sales promotion
4. Public relation
5. Corporate image
6. Direct marketing

Brand:-
Name, sign, symbol, or design, or a combination of them which helps a consumer to identify a
particular goods or services provided by a particular seller it also helps in differentiate that seller
from other competitors
Or
A brand is something which has created an awareness and reputation for him self in the mind of
particular target audience (marketplace)
Brand elements:-
Different component of brand which helps in identifying a particular brand

1. Name
2. Logo (few letter written in a particular manner)
3. URL (google)
4. Symbol
5. Packaging
6. Jingles (airtel music)
7. Tagline (city never sleep)
8. Characters (amul girl)
9. spokespersons
10. signage’s

Product:-
It is something that can be offered in market for the use or consumption that satisfies the need or want of
the consumer. It could be a product, service, a place, a person even an idea also consider as a product

Level of product
1. Core benefits
2. Basic product
3. Expected product
4. Augmented product
5. Potential product

Brand:-
It is more then a product because of its dimension which helps it to differentiate from the other products
designed to satisfy the same need, those extra dimensions are the brand element only.

Function of brand:-

Identification
Primarily a mechanical function to make sure that the brand is clearly seen and recognized.
Identification concerns the essence of the brand and facilitates the purchaser in his/her
decision process and consideration set; swift choice and gain time.
Practicality
Primarily a mechanical function to make sure that the brand is practical and recognized.
Practicality concerns the essence of the brand and facilitates the purchaser in his/her
purchase process for rebuy and straight rebuy; swift choice and gain time.
Guarantee
The base brand guarantee function is to reduce the perceived risk irrespective of the place
and time of purchase and consumption.
Optimisation
The base brand optimization function is to reduce the perceived risk by offering the best
product against the lowest total cost of ownership, the best solution in its category.
Badge
The base brand badge function is to reduce the perceived risk by confirmation of self
image and/or brand image.
Continuity
Continuity is an emotional satisfaction function created by brand intimacy over a long
period of time due to loyalty.
Hedonistic
Hedonistic is an emotional satisfaction function; pleasure created by brand attractiveness,
its logo, its communication and experiential remuneration.
Ethical
Ethical is an emotional satisfaction function towards the brand responsibility related to its
stakeholders and environment.

Types of Risk:-

1. Functional risk the product does not perform up to expectations.

2. Physical risk the product poses a threat to the health of the user or others.
3. Financial risk the product is not worth the price paid.
4. Social risk the product results in embarrassment from others.
5. Psychological risk the product affects the mental well-being of the user.
6. Time risk The failure of the product results in an cost of finding another
product

Brand to a firm:-
It is the most important legal entity to a firm which can be bought and sold, it has a capability to influence
the consumer behaviour. It’s an intangible asset to the firm.

Helps in differentiating from competitors product

Legally protect the unique feature
Symbol of the quality
Source of competitive advantage
Source of financial return

Brand equity:-
It’s the financial value of the brand (IBM $53.4 billions). Measure brand equity at the Customer Level

 Awareness
 Associations
 Attitude (positive word)
 Attachment (Loyalty)

Line extension & Brand extension:-

Line Extension Product variant in the same category using the existing brand name
Brand extension Product in a different category using the existing brand name

PLC:-
1. Introduction
2. Growth
3. Maturity
4. Decline

Segmentation:-
1. Geographical
 2. Demographical (age, gender, education, income)
3. Behavioural ( loyalty, benefits)
4. Psychographic (social class, lifestyle, personality)
Business vertical means industry in which you are (tata is in 15 vertical)

Potre’s five force model:-

1. Bargaining power of buyer

2. Bargaining power of supplier
3. Threat from substitute
4. Threat from new entrance
5. Competition with in

Environmental factor:-

1. Political
2. Economical
3. Social
4. Technological
5. Regulatory

Types of strategy
1. Corp strategy
2. Business strategy
3. Functional level
4. Operational strategy
5. Activity

Brand architecture
1. Corporate level
2. Family/umbrella
3. Individual
4. Modifier

Types of need Needs

Physical
Social
Psychological

Marketing of services
Services :- An economic activity that does not result in ownership. Processes And Performances that
creates value for the customer

Books recommended
1. 22immutable laws of branding
2. 22immutable laws of marketing