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    ‘ustitute Of Business & Information Technology we University of the Punjab Quald-o-Azam Campus, Lahore Fall Term 2020 Basic Informatio: Title:/Marketing Management Code|MKTG 380 Program:|MBIT Credit Hours:|Three (03) Sessions:/30 Class + Mid Term + Final Term | Pre-Requisite:|DBIT (Marketing) Course Description: This course in designed to provide the basic exposure and knowledge to understand the Marketing Management concepts, tools and strategies. The students will examine issues and concepts pertaining to marketing management including: Strategic Marketing Environment, Consumer Behawior, Marketing Research, Competitive Strategies, and Marketing Mix including Product, Price, Place & Promotion Throughout, we explore the strategic tools of marketing decisions with emphasis on customer's and reseller’s behavior, Selling, Branding, Services and CRM from Strategic Marketing perspective. Learning Outcomes: On successfull completion of this course, students will be able to: Y, To familiarize students with the marketing management concepts, ideas, processes and trends. ¥. To provide students with tools to apply marketing strategies in real life situations ¥ To motivate students to develop and present creative marketing ideas via effective presentations Teaching Learning Methodology: The formal teaching component of this course consists of active student ‘participation in and contribution to all forms of teaching and learning ie. lectures, discussions, presentations, research assignments, Business Games and projects. Lectures will be twice a week of 90 min each. Group Configurations: One of the objectives of this course is to encourage and facilitate teamwork. Class will have to make a group of four for projects and research assignments, It is recommended that student will form their own groups. As a general guideline, your group should have members with diverse skill sets including people who are proficient or have aptitude for different subject areas. Weekly Term Plan ‘Wk Lecture Topic [or | Marketing Models, Strategies & Gurus — —] 02 | Decisions for Segmentation, Differentiation and Positioning [03 | Consumer and Buyer Behavior 04 | Competitive Strategies [05 | Communication Strategies Development 06 | Marketing Research and Management Decisions 07 | Marketing Mix Decision Making 08 | Mid Term Examination [09 |" Marketing Plan Development 10 | Internal Marketing Management 11 | Placing and Value Chain Strategies 12 | B2B And Industrial Marketing Decisions 13, | Mathematics for Marketing Decisions 14 |_ International Marketing Strategies 15 | Future Directions in Marketing Management 16 | Final Term Examination | Page tof 3 S Institute Of Business & Information Technology University of the Punjab Quald-e-Azam_ Campus, Lahore Text &Recommended Readings Fall Term 2020 Topics in Detail No Title 01 [introduction to Marketing Management loz. [Marketing Models, Strategies & Gurus 03 Decisions for Segmentation, Differentiation and Positioning 04 [Consumer and Buyer Behavior os, [Communications and Marketing Management 06, [Industry Analysis Competitive Strategies 07. listamic Concepts of Marketing 08. [Marketing Research and Management Decisions 09 |Products’ & Services’ Strategic Development Branding Strategies 10 [Pricing Strategies and Price Economics & Decisions ul [internal Marketing Management 12 \Placing and Value Chain Strategies 13 MC and Promotional Mix 14 |Sales Promotions and Direct Marketing Strategies 1s |B2B and Industrial Marketing Decisions 16 ‘Mathematics for Marketing Decisions 17 [International Marketing Strategies Advanced Topics in Marketing Management 19 Future Directions in Marketing Management 20 Final Term Examination | Assignment Specification ‘A. Philip Kotler and Kevin Keller, ‘Microsoft Word for Documentation “Marketing Management,” Pearson 17th ed. | Headings Arial LIpt Bold 8. Cravens D. & Piercy N., “Strategic Normal Text Times New Roman 10pt Marketing”, McGraw Hill 10" Ed. Header Footer Times New Roman Spt Paragraph Single Line Spacing First Line Indent 1.0 cm Page Margins —_2.cm from each side Assignments/ Research Projects No Title Due Date AOL Educational Marketing Assignment 1 Class of #* Week A02 —— Online/ E-Commerce /Social Media Marketing Assignment 1 Class of 7 Week 4° Class of 11" Week A-03 International Marketing Assignment Institute Of Business & Information Technology University of the Punjab Quald-o-Azam Campus, Lahore Fall Term 2020 Grading Policy: Final Grade for this course will be the cumulated result of the following term work with relevant participation according to the quoted percentage. ‘Sessional (Mid Term 35% Final Term 40% Assignments ‘Mid Term Exam|25% Final Exani| 30% ‘Quizzes Tab Work’ Lab Mid 10% Case Study/ Project/| 10% Presentations Exam| Term Paper| ‘Remember subdivision of Mid Term and Final Term Examination should be done only in case of very essential and major Grading Instruments. Dishonest Practices & Plagiarism Any student found responsible for dishonest practice/cheating (e.g. copying the work of others, use of unauthorized ‘material in Grading Instruments) in relation to any piece of Grading Instrument will face penalties like deduction of marks, grade ‘F" in the course, or in extreme cases, suspension and rustication from IBIT. For details consult Plagiarism Policy of the PU at http://puedu.pk/dpce/downloads/Plagiarism-Poli Grading System: i Grade Point | Num Equivalence | Letter Grade 4.00 85— 100% 3.10 30-84% BE 3.30 75 = 19% B 3.00 70-74% Be 2.70 65-69% Cr 2:30 61-64% | xe 2.007 58-60 c 1:70 55-57% D 1.00 50-54% | F 0.00 Below 50% T Incomplete W Withdraw * Norms to Course: Y Submission Date and Time for the term instruments is always UN-EXTENDABLI “7 Absentees in class will be result in forced withdrawal. (PU Policy) ~ Re-sit in Mid and Final Term will cause you a loss of 2 and 3 grade marks respectively. (PU Policy) This is your responsibility to keep track of your position in class evaluation units. Y After the submission date, NO excuse will be entertained. Keep a copy of all submitted Grading Instruments. Assignment is acceptable only in its Entirety. ‘No make up for any assignment and quiz. Copied & Shared work will score Zero. Assignments are Individual, NANA Good Luck For the Fall Term 2019 4 | Marketing starts from the Hadith-e-Nabwi (SAWW)| None of you can become a Momin, unless you like those things for your brother, that you like for yourself too.” 4 Golden Words for Marketing People «| REFUSE TO SURRENDER” © “EARLY TO BED, EARLY TO RISE, WORK LIKE HELL AND DO ADVERTISE”. Ted Tuer © “Living with dignity and respect is an ART. Dying with dignity and respect is a FINE ART.” Anees Yagoob © “Better to be loved and lost, rather than not being loved at all”. Saint Augustine © “Itis a very funny thing about life; if you accept nothing but the best, very offen, you get it”. Ws. Mauahem which half”. J. Wanamaker © “Half the money | spend on advertising is wasted; the trouble is | don't know © “Dreams have No Expiration Date” “Until the Lion learns how to write, all the stories will glorify the hunter” “Marketing deals with two important things: Money & Emotions” Didler Bonneville-Roussy art, Great marketing makes the customer feel smart.” Joe Chemov} © “Good marketing makes the company look sm: © “The one who asks a question remains a fool for a minute. Who doesn’t, remains a fool forever” Anonymous ” Tom Fishbume © “The best marketing doesn’t feel like marketing.’ Marketing is really just about sharing your passion.” - Michael Hyatt 4 Characteristics of Passion & Mirza Ghalib’s Letter MARKETING DEFINITION “Marketing is a Tool/ Method/Strategy/Procedure to Delight the Customers Continuously, Better & Before than the Competitors, for a Return/Profit.” e Whoisa Customer/Consumer? Potential Vs. Targeted ¢ Who is a Competitor? Indirect Vs Direct ¢ What is a Return/Profit? ROI (Return on Investments) ¢ Why Delightedness? Why not Satisfaction? ¢ Should we Like Our Customers? Islamic Perspective History of Marketing From the Concept of Production to Product to Selling to Marketing to ruTurE? MANAGEMENT DEFINITION MAKING Efficient & Effective Decisions Efficiency? Effectiveness? Soooo,.. Marketing Management is? Marketing Management Decision Making Emotions VS Feelings 4 Types of Market Influences Marketing Battle Place in Consumer Minds and Hearts Most of the Rules from Sports and Wars Core Competencies, Competitive Advantages, Distinctive Advantages, USPs, Value, & Quality, all are defined by the Consumers Markets are dictated by Competition/Competitors Offering FMCG Commodities Normal Goods vs Inferior Goods Complimentary Goods vs Substitute Goods Consumer, Customer, Client, Account Need, Demand, Desire, Dream Consumer Satisfaction VS Consumer Delightness Reciprocity SYFTY Affordable Loss Opportunity Costs ROI includes all the investments (money, time, energy, credibility) 3 - ting Concepe ® Production Concept ® Service Concept ® Selling Concept ® Product Concept ® Marketing Concept ® Holistic Concept © Internal Marketing © Integrated Marketing © Relationship Marketing © Performance Marketing MARKETING AS A BUSINESS CONCEPT ‘Something of value Goods, services, benefits Money, exchange of goods Something of value MARKETING AND HAPPINESS "Marketing deals with two important things: money and emotions" Didier Bonnevile-Roussy (1999) You can say the right thing at the ri ight time about a product an: say it in such a way that people will id nobody will listen, You've got to feel itin their souls. If they don't feel it, nothing will happen. Creativity = What Consumer Thinks ‘ Quality = What Consumer Thinks Core Competencies = What Consumer Thinks Uv Credi What Consumer Thinks woo a Happiness = What Consumer Thinks Life Long Relationships based on s Trusting, Caring and Sharing By ict Scementations & Positioning Eee eats tak SEGMENTATION Geographic Demographics Psychographics Behavioral ° DIFFERENTIATION Core Competencies Competitive and Distinctive Advantages e USPs POSITIONING e Awareness Impact Frequency MARKETING MIX (4Ps) PRODUCT ° PRICE PLACE PROMOTION In Addition to 4 Ps, Services have 7Ps: ¢ PHYSICAL EVIDENCE ¢ PROCESS ¢ PEOPLE Wh) We have Wareting win? ot SERVICES MARKETING oe 7 Ps Instead of 4 Ps + Product, Price, Place, Promotion + Physical Evidence, Process & People SERVICE CHARACTERISTICS e Intangibility e Inseparability e Heterogeneity / variability e Perish ability SERVICE FEATURES & ELEMENTS e Reliability e Responsiveness e Assurance e Empathy e Tangibles THE RESOURCE - BASED THEORY Vision, Knowledge, CORE COMPETENCIES COMPETITIVE ADVANTAGES Rebutation Innovation, Specialization. INTERNAL RESOURCE EXTERNAL ENVIRONM BASED ENVIRONM THEORY DISTINCTIVE ADVANTAGES FUTURE STRATEGIC Human Resources, Information DIRECTIONS Experience, Exposure, Expertise, Education, Excellence TOP 6 Strategies © CORE COMPETENCIES © COMPETITIVE ADVANTAGES © DISTINCTIVE ADVANTAGES UNIQUE SELLING POINTS DIFFERENTIATION STRATEGY POSITIONING STRATEGIES Ps MARKETING IS AN ORGANISATIONAL FUNCTION The diagram below shows the many functions that can be carried out in organisations which, dependant on the organisation, can be classified as operational functions of marketing. Marketing Effectiveness . Total Success: High profitability at maximum possible rate * Partial Success: New customers replace lost customers _ 1 Partial Failure: Sales slow or fall due to a lack of new customers ** Total Failure: Sales fall as customers leave jo NTERNAL. MARKE TNG’ * MaMing doR EMPLYEES HR HAP iy FIRST Tit ¢ CAN MAME pug Cu STEMERE ARP nPPY UE & x FAcToR > Prone DoN'T Care WHAT NE YN ow | _ WAST Te UNow S Ee UTE CARE’ v? Ge 3 Ye | ce \ ee org ba ATewieen a Skits PekSeanuty KL CHARACTER [7 ICS OF WASD ; wie i. ~ eur wala a P kane “AN@Lo Ne Tepe gr SAX ° wea, “PL Re TES Wty 5 Levels of Consumer Customer Delightness Basic: Functions and Performance, V>P Expected: Quality customer support, Warranty. Timely Delivery. Discounts Desired: Reasonable shipping & handling Costs, clear and trustworthy privacy policies, Relationship Marketing Surprised: Free, Extra, Continuity, Future Value Unbelievable: character, Credibility, ROI Sharing In addition, for the B2B Customers: © Co- Creation ¢ Make the Customer’s Customers Happy ¢ Add Value to the Immediate front or back end Reseller, in the Value Chain/Supply Chain LTR Coan ere} BeBe tM ected 1 - Product featu characteris The FIVE CORE DIMENSIONS OF PERSONALITY Sincerity (down to earth, honest, real, wholesome, cheerful) Excitement (daring, trendy, spirited, cool, imaginative, up- to-date) Competence (reliable, intelligent, successful, leader, confident) Sophistication (upper class, charming, glamourous, good looking) Ruggedness (outdoorsy, tough, masculine) Consumer Buying Process Need Recognition & Problem Awareness Evaluation of Alternatives Types of Risk for Consumers Risk Car Battery Example Functional Battery might fail Braluaton Physical Battery might blow up Financial Battery overpriced Social You bought an X battery? Time Battery not in stock One Solution: buy only well-known brands ce Service Recovery iB Looking at the Maslow’s Hierarchy of Needs from a Marketing perspective Self-fulfillment needs Psychological needs + Values: Customer value is the difference between the values the customer gains from owning and using a Product and the costs of obtaining the products. Customers often do Not judge product value and costs accurately or objectively. They act on perceived value, « Exchange: The act of obtaining a desired object from someone by offering something in return * Transaction: A trade between two parties that involves at least two things of value, agreed — upon conditions a time of agreement, and a place of agreement. ¢ Relationship marketing: The process of creating, maintaining, and enhancing strong, value — laden relationships with customers and other stakeholders Emerging Trend: ¢ GROWTH OF NON-PROFIT MARKETING * THE INFORMANTION TECHNOLOGY BOOM ¢ RAPID GLOBALIZATION i « THE CHANGING WORLD ECONOMY * THE CALL FOR MORE ETHICS AND SOCIAL RESPONSIBILITY 10 Reasons People Buy (Jay Shapiro) There are many reasons people buy the things they do. If you're selling something, you need to know what those reasons are. Herewith, 10 reasons people buy. There are, of course, many more, but these are ten of the main ones. If you sell anything at all, you need to understand the mindset of your customer. These 10 tips will help: 1. Basics We shop for food because we need to eat. We'd starve if didn't. We pay for water services because without water we'd die. Buying that is driven by basic needs might include things like heating and somewhere to live. Clothing also fits into this bracket but it also evolves into more than just need, but we'll cover that later. 2. Its Convenient When we want something now we want something now. Ease purchasing often means the buyer will pay over the top because they can have the item now. E.g.: If your car is getting low on gas you'll buy at the nearest station, even if it is more expensive than the one down the highway. Maybe we need a next day delivery item for a birthday we nearly overlooked. Paying extra doesn't worry us, we want the item pronto to save our skin so we don't mind paying over the top. 3. The Need to Replace Your old TV set has finally died. You need to replace. Shoes wear out. Clothes slip out of fashion. Your house is too small for your growing family. 4. Rarity and Limited Time People respond to the idea that something might not always be available with a form of panic. Offers that {ast a limited amount of ime play on this, Limited editions of items work on the same premise. With antiques there's the feeling (or even the dread) that one of these might not ever come your way again. 5. Status and/or ambition-based purchasing Atop of the range car is a status purchase. It can also be an ambition based purchase if the purchaser aspires to the luxury lifestyle. 6. Vacuous purchasing Occasionally people simply buy to try to fill holes in their lives. The purchase won't usually succeed but the purchaser feels momentarily as if they are gaining succour. 7. Bargains Knocked down prices also inspire a little panic in the consumer? "Oh these are bound to go like hot cakes at that price. I'd better get one quick." 8. Fantastic Value This is when the assumed value of an item seems well in excess of the price. Again, even you don't need the item, you feel compelled to get it while you can. It's too good to miss. 9. Famous Names 'fyou suddenly need to buy things you've never bought before you are more likely to choose a well-known name. Maybe your mother used a particular brand of baby bottle when you were a child. You'll be comfortable with the same brand because you feel you can trust it. 10. Latest Trends Dedicated followers of fashion or tech-trends will have wanted an iPod the moment they became available. If everyone's raving about the latest movie with the greatest stars in it, they'll want tickets as soon as possible, \S —= COMPETITIVE STRATEGIES DEVELOPMENT Most of the Rules taken from Wars and Sports MARKETING BATTLE GROUND: Consumer Mind (Differentiation Strategy) Core Competencies + Competitive Advantages + Distinctive Advantages * TORNADO MARKETING (Geoffrey Moore-Aggressive Placing Strategies) * CRITICLA MASS MARKETING (Optimizing the media mix-IMC/ Promotion) ¢ GUERRILLA MARKETING * Jay Conrad Levinson-Hitting the direct competitor's Weakest point first) * MARKET NICHE DEVELOPMENT * 4 Types of Competitors in the Market Market Leader, Market Challenger, Market Follower, & Market Nicher Michael Porter’s Competitive Forces Model (5 Forces) Threat by Substitutes Bargaining Rivalry among Bargaining Power of oe Existing +—} Power of Suppliers Competitors Customers t Threat by New Entrants HIT FAST, HIT HARD, HIT FIRST, HIT OFTEN, & HIT RIGHT *Karate | «Taekwondo J 6 + Judo ¢ Jujutsu et PRESENTATION BASICS “Effective communication is 20% what you know and 80% how you feel about what you know.” 5 Cs of presentation ¢ Confidence * Creativity ¢ Contents ¢ Clarity ¢ Coordination Watch your thoughts; they become words. Watch your words; they become actions. Watch your actions; they become habits. Watch your habits; they become character. Watch your character; it becomes your destiny. The basic building block of good communications is the feeling that every human being is unique and of value." “IS YOUR GOAL TO GET THE MOST OUT OF PEOPLE OR THE BEST OUT OF PEOPLE?” Michael Kanazawa CREATIVITY (Looking at things from a new angle) ¢ Imagination and purpose ¢ Originality e Value * Costs INNOVATION (Output of the Creativity) INNOVATION is totally different than CREATIVITY MT — Non Verbal Communications on Verbal Communications Clothes Accessories Gestures Postures Facial Expressions Eye Contact Smile Touch Smell Space Time Waiting Time Tone Silence Rhythm Pitch Pause Stationary Choice of Channel (Personal, Net, Phone) Speed Colors Seating Arrangements Observations Cleanliness Aesthetics Way of Walking Hand Shaking Visiting Time Circumstances Colleagues Dale Carnegie's Social 6 Principles , 1, Genuine Interest Gatherings 2. Smile Listening 3. Name 7 4. Listening Presentation 5. Topic of Interest Tools 6. Ready to Help \% Ver ) ) FRESuEsT Penne EeTenS ey cust Diss St meer Rme?A 4 4: Hoe ae Re LE? Cas se a J a VANTIV Os wit 2. [EMS oF PasnTS Aes que? “TERMS of ELIVERY7 ea Ra CONCERNS! 8. WHY T Bey Thom You § NT Gong IM PeRTAST:; #D iScvss Compenilion Y HSAGL € BRIEFLY gett IF ASKED @ COSTomen. DeonT SAY TUE ARE Tee RESTA SH) we AR, b lever Sa wEUe TAND BESWES CustanteR FEM Te Tale FACE Tota hi nore RMIse Z oveR DELUWER Tank CusTOMER'S QuestiovS AND ANSWERS Ne OUR ComPETITRS PRESENTED To AusTeM ER E PRE AND AFTER aug ESENTATION = 19 Strategic Planning Portfolio Design @ Step 1: Analyze the current business Portfolio © Step 2: Shape the future business Portfolio Determine the future role of each SBU and choose the appropriate resource allocation strategy: * Build * Hold « Harvest = Divest SBUs change positions over time Product / Market Expansion Grid Existing New Products Existing Market markets: Penetration New markets development Product Portfolio High We) AYE csS nin PRODUCT LI a E CYCLE | Extension Maturity Replacement TIME => MOST IMPORTANT CONSIDERATION MOST IMPORTANT CONSIDERATION CHOICE oF A PARTICULAR MARKETING MIX STRATEGY AT DIFFERENT PLC STAGES New Product Development Strategies First Phase Second Phase 1. Idea Generation . Market Analysis Product Development . Test Marketing 1 2. Idea Screening 2 3 4. Concept Testing / Prototype 4, Auditing 5 6 3. Concept Development 5. Business Analysis . Value Additions . Corporate Launching ad What is a BRAND? ‘The Image you convey The Message you deliver The Way you Interact with your Customer Customer’s Opinion of your product with you're your competitors’ Products CRM Strategies ec eee 3 Ps of Branding e Perceptions e Personality ¢ Promises IT’s THE ENTIRE EXPERIENCE YOUR CUSTOMER HAVE WITH YOUR COMPANY AND PRODUCT ON DAY TO DAY BASIS Basic Concepts of Marketing Related to Branding Offering Core Benefits Expected Benefits Beauty of Benefits VS Pains of Punishments Role of Culture Role of Symbolic Relations Role of Ethics and Legal Norms Signals of Quality Consumer Segmentation Brand Differentiation Brand Positioning eee eer ere ee BRAND AWARENESS Depth: Recall Recognition Response CONSUMER BEHAVIOR BASICS © Feelings and Judgment Relations © Emotions and Logic Relations USE OF CELEBRITY © Celebrity Presence 5 % © Celebrity Involvement © Celebrity Endorsement F: PRICING STRATEGIES Penetration Pricing Skimming Pricing Competitive Pricing Cost Plus Pricing Objective based Pricing actors Influencing Pricing Decisions a uencing Pricing Decisions Demand and Supply Curves Recession and Inflation Government Regulations Costs of Manufacturing Costs of Distribution & Logistics Competition Holding and Maintenance Costs Other Considerations Performance Features Reliability Durability Serviceability Aesthetics Perceived Quality BB vs. PP [22 7 Ways to Price a Painting (Depending on Your Personality) Different approaches to putting a price on your art. (ay Marion Boddy-Evans) Getting a painting to the stage where you're satisfied with it is hard, but putting a price to it can be even harder. Underprice yourself and you may make your art look worthless, as well as lose money rather than make it, Overprice yourself and you risk never selling anything. How you decide to approach it depends somewhat on your personality, experience, and stage your art career is at. Here's how | judge the options: 1. The Simple Approach: Price Determined by Standard Sizes Alll paintings that are the same size all have the same price tag, regardless of the subject, how tong it you to finish it, or how much you happen to like it. Your price list set out by size, with an additional set premium for commissioned paintings over finished paintings. 2. The Accountant's Approach: Recover Your Costs Decide on a percentage profit you want to make over your costs. Then add up the cost of everything that went into making a painting, add the percentage, and you've your selling price. The costs calculation can be basic (materials + labor) or comprehensive (materials, labor, studio space, lighting, etc.). Every painting has a different price, based on what went into creating it. 3. The Capitalist Approach: Make the Price Market Related Do your homework by visiting galleries and studios in your area and target market(s) to see what similar type of artis selling for. Price yours to compete. If you're selling directly only (not through 2 gallery), offer "special deals" to make people feal le they're getting a bargain. (If you're also selling through a gallery, never undercut their prices as you'll undermine your business arrangement with them.) 4. A Mathematical Approach: Price Calculated by Area You decide on a price for a square inch (or centimeter) then multiple the area of a painting by this, then round it up to a sensible figure. Most people will use a calculator for this approach, but if you can do it with mental arithmetic then you never have worry about a client who wanted to buy the painting off your easel getting bored standing around while you hunt for a one. 5. The Collector's Approach: Increase Your Prices Every Year Some people who buy art do it for investment reasons, and they want to believe the value of the painting they have of yours is increasing. Read enough financial news to know what the current rate of inflation is, and be sure to increase your prices annually by at least thie much. 6. The Creative Director Approach: Sell a Story, Not Just a Painting Have a good tale to tell wth every painting, hinting at it in the ttle, to create a sense of buying a litte bit of the artist's creativity, not just a produce. Write or print it out on a little card to go with the painting to its new home. (Be sure to put your contact details on it) Hide your prices in the small print because it's so uncreative to talk about money. 7. An Instinctive Approach: Suck a Price Out of Your Thumb Not recommended as a long-term approach, but to be considered if you're faced with a possible Sale of a piece that's in a new medium/ground for you or totally dfferent to your ‘usual’ style, as Different Channels of Distribution A number of alternate 'channels' of distribution may be available: 4. Manufacturer Selling Directly to Consumers through Direct Marketing a) Online Marketing / E-Commerce / E-retailing b) Mail Order Business ¢) TV Shopping d) Telemarketing Examples: Amazon.com, ARY Shopping Channel 2. Manufacturer Selling through Own Retail Outlets Examples: Bareeze, Butt Sweets, Levis Strauss 3. Manufacturer Selling through Wholesalers & Distributors, who sell to retailers Examples: Nokia Mobiles, ICI Paint Distributors, 4. Manufacturer Selling through Retailers & dealers who sell to end customers (Chain Stores, Variety Chain Stores, Specialty Stores, Departmental Stores, Super Markets, Hypermarkets) Examples: Potpourri, Europa Stores, Shops in Hafeez Centre & Pace 5. Manufacturer Selling through Agents and Middlemen, who typically sell directly on behalf of the producer a) Local Agents, b) Export / Import Agents - Overseas Agents Examples: Jang newspaper, PIA Ticketing Agencies, Textiles Buying Houses, National Geographic Magazine Distributor/Agent in Pakistan ab ADVERTISING QUOTATIONS 'n good times business people want to advertise. In bad times they have to, (Anonymous) ‘You can tell the ideals of a nation by its advertisements. (Norman Douglas) jphave always believed that writing advertisements isthe second most profitable form of writing. The first, ofcourse, is ransom notes (Philip Dusenberry) 4a factory, we make lipsticks. In an ad., we sell hope (Peter Zarlenga) Advertsing is the art of convincing people 1o spend money they didn’t have for something they don't heed (Will Rogers) - Tha's not Marketing, i's unehical and. withcen ‘emotional attachment with the customer (Mansoor's comments) Advertising Message (Text Written) Blunders A disappointed salesman of Coca Cola returns from his Middle East assignment. A friend asked, "Why weren't you successful with the Arabs?" The salesman explained, "When I got posted in the Middle East, I was very confident that I will makes a good sales pitch as Cola is virtually unknown there. put 1 did't know to speak Arabic. So, planned to convey the message through 3 poser: First poster, a man crawling through the hot desert sand... Totally exhausted and panting. Second poster, the man is drinking our Cola rd poster, our man is now totally refreshed. Then these posters were pasted all over the place’ " "That should have worked,” said the friend. The salesman replied, "Well, not only did I not speak Arabic, I also didn't realise that Arabs Read from Right to Left..." E GFFEGF GE EG "Now with improved taste" this appears in many products including dog food. The question is, "Who tastes this dog food?" On a bag of Fritos: You could be a winner! No purchase necessary. Details inside. On Boot's Children Cough Medicine: "Do not drive a car or operate machinery after taking this medication." Now is the perfect time to get your ears pierced and get an extra pair to take home, too! Tired of cleaning yourself? Let me do it. Get rid of aunts: Zap does the job in 24 hours, Wanted. Man to take care of cow that does not smoke or drink. 3-year old teacher needed for pre-school. Experience preferred, Offer expires December 31 or while supplies last. (ad. in July) Radio Ad) “When you are thirsty, try 7-Up, the refreshing drink in the green bottle with the big 7 on it and u-p after” —. intel) ta feves! ABN-AMRO 5 IMC Strategies Advertising, Sales Promotion/ Trade Promotion, Direct Marketing, Personal Selling. Public Relations “And we'll be advertising your product as being "think wo should go with the frst one.” 100% salt free.” CREATIVITY, CUSTOMER FOCUSED STRATEGIES kl IMPACT vs REACH DIVERSIFIED PROMOTIONS aa * PERSONAL MEDIA * OUTDOOR MEDIA ¢ PRINT MEDIA ¢ DIGITAL MEDIA * SOCIAL MEDIA MEDIA PULL vs PUSH Above the Line (ATL) vs Below the Line (BTL) ° BOGOF * Wobbler * Puffing * Spinning © Stimulants ¢ Inducements © WOM Marketing NATHIA GALI Example >KISS Formula => AIDA Plan * Opinion Leader * Lobbying & Lobbyists Advertising Planning Strategic Steps 1. Objectives 2. Audience 3. Message 4. Budget 5. Media 6. Feedback DOES HUMOR ALWAYS SELL? DOES APPEAL GREATE IMPACT? DOES TO BE DIFFERENT CREATE A DIFFERENCE? rit CREATIVITY IN ADVERTISING ALWAYS PAY? WINNING THE BEST ADVERTISMENT ADVERTISING OF THE YEAR AWARD - A DREAM COME TRUE? ee ee eee OBJECTIVES? AWARENESS/ ATTENTION IMPACT REACH FREQUENCY DEVELOPING & STRENGTHENING BRAND / IMAGE INCREASE SALES, MARKET SHARE DECREASE COMPETITIVE SALES/ BRAND IMAGE Legally, Ethically & Socially 3.Ps of BRANDING eos aE STRATEGIC BRAND MANAGEMENT. IMC Perspectives PERCEPTION PROMISE PERSONALITY Brand A name, term, sign or symbol used for identification and Fecognition purposes of products or services. Both a physical and emotional trigger to create a relationship between consumers end tne product or service, Brand Attributes Functional or emotional associations that are assigned toa brand by its customers and prrepects. Brand attributes canbe either negative or postive and can have varying degrees ofelexenes and importance to different customer segments, Brand Equity The value - both tangible and intangible that a brand adds to a product/service. Brand Extension Using an existing brand for new products or services, Brand Loyalty The strength of preference fora brand compared to other similar available options. Often ‘measured in terms of purchase behavior or price sensitivity, Brand Management The process of managing an organisation's brands in order to increase Jong-term brand equity. Honing The space a brand is perceived to occupy; the part of the bran communicated in a way that meaningfully sets it apart from the competition, Brand Repositioning Effort to change common perception of a brand. Generic Brand Products not associated with a private or national brand name Brand Identity How you want the consumer to perceive your Product or your brand, Companies try to bridge the gap between the brand image and the brand identity, Brand Image The perception of your product or your brand by the consumer. Brand Manager Person who has marketing responsibilities to develop and execute marketing programs that increase brand identity and awareness for a specific product 31 13-5" WW EDNES Df Cust ; 7 USIOMIZED NKTE. Steemeared E — a oe SN MAIL MKTe, WEEKLY \eusteTreR 7 lM tity UPDATES 2 P°SECT Line” REVENT muta, ABVE Tremuy”, Conwecy UNTH Community $ « NIDES MuTa, 7 ConrQor ate a otae Uwe. St 3 Se. A Secu meow a Mees oe 2 r Sf |B WeLSTE muvee: Ee - My ne VPoasTicnes Te % Links oe PoBue, SPEAKe: : 1 7 VomePag ONFERENCES Demwnge #2 QentenT metg, © XtnB Mons euge € 4g RESORT “UBlouitages. ee TS Oe B STORY Teun. SCRIPT—> cashing DRAHERSALS-5, REoRD iy SCREEN <— Ernie, ExmQTAng 3a MARKETING GAME (Opinions and Decisions) MARKETING GAME, Question Which are the bases for tradeoffs between conflicting wants and needs of different customers with respect to the same product? How important is it to emphasize Product quality, when a new, unique product is launched? Answer: Customers make the following typical tradeoffs: (1) Quality versus price, @) Common features versus customization, (3) Automated self-service versus personalized attention, (4) Technical functionality versus styling and other aesthetic values When launching new products, quality is secondary to time-to-market and price, The strength of a new product lies in its novelty Question: Is it better to market a new product quickly and then improve the design later or to incorporate all design modification/ improvements before launching the product? Answer: Marketing product quickly is a superior strategy for new products, as doing so will allow (1) Brand name build up, (2) Customer loyalty creation, (3) Customer retention due to “switching costs,” and (4) earlier customer response assessment, (5) Steady product design improvements, and (6) Larger gross margin for lack of competition in earlier phase of product life cycle. Waiting to market the new product until all conceivable design improvements have been incorporated suffers from two drawbacks: (1) Not offering what exactly what the customers want and need (due to a lack of customer feedback), (2) Loss of a preemptive marketing advantage Question: How can product development costs be reduced by entering the market late? Answer: Some companies follows the “best follower” strategy; Wait until anew product is about to take off, reverse engineer the competitor’s products, modify the product features, and enter the market with imitation Products to compete at a slightly lower price. Question: For products intended for the global markets, customers’ wants and needs are regionally different. How can a centralized concurrent engineering team develop a product, which serves as the common “platform” for the global markets? Answer; One option i to segregate the mechanical aspects (functionality) of the products from their aesthetic aspects (look and feel). General Motors is accomplishing this challenging objective by: (1) Build identical assembly plants for Buick cars at four global locations, (2) Outsource major subassemblies to local industries to reduce import duties and to satisfy local content laws. (3) Standardize the technical specifications so that parts are globally interchangeable for load balancing (market demands, labor disputes, regulations), (4) Allow design changes to account for local market preferences in car names, styling, color), approach to implement global business st conditions (cultural (5) Retain centralized concurrent engineering trategy and realize scale of economy benefit 23 PERSONAL SELLING STRATEGIES Selling Process > Prospecting © Pre approach > Approach > Presentation > Corporate Negotiations = Closing the Deal > Follow-up ( Monkeys, Bananas and Sales Management Jacques Werth Start with a cage containing five monkeys. Inside the cage, hang a banana on a string, and place a set of Stairs under it. Before long, a monkey will go to the stairs and start to climb towards the banana, As soon as he touches the stairs, spray that monkey and all of the other monkeys with cold water. After a while, another monkey makes an attempt, with the same result- all the monkeys are sprayed with cold water. Pretty soon, when another monkey tries fo climb the stairs, the other monkeys will attack that monkey to Prevent it. Now, put away the cold water. Remove one monkey from the cage, and replace it with a new one, The new monkey sees the banana and wants to climb the stairs. To his surprise and horror, all of the other monkeys attack him. After another attempt and attack, he knows that ifhe tries to cmb the stairs, he will be assaulted. Next, remove another of the original five monkeys and replace it with a new one. The newcomer goes to the stairs, and is attacked. The previous. newcomer takes part in the punishment with enthusiasm! Likewise, replace a third original monkey with a new one, then a fourth, then the fifth, Every time the newest monkey takes to the stairs, itis attacked. Most of the monkeys that are beating him have no idea why they were not permitted to climb the stairs, nor why they are participating in the beating of the newest monkey. After replacing all of the original monkeys, none of the remaining monkeys has ever been sprayed with cold water, nor do they know why they behave that way. Nevertheless, no monkey ever again approaches the stairs to try for the banana. Why not? Because as far as they know, that's the way it's always been done around here, And that, my friends, is how many a company's sales practices 3Y —_— — B2B Marketing |. INDUSTRIAL MARKETING . CORPORATE MARKETING ._ ORGANIZATIONAL MARKETING |. INSTITUTIINAL MARKETING 3. GOVERNMENTAL MARKETING Characte: of B2B Marketing Bulk Buying & Selling Supply Chain & Value Chain Resellers Customers OEMs (original equipment manufacturers) Commercial Enterprises Universities, Mosques, Hospitals, Restaurants NGOs/NPOs Government Institutions Producers Middlemen, Agents Exporters & Importers Wholesalers Retailers Bulk Buyers |e Marketing VS Selling ¢ Brain & Heart © Blood & Oxygen NGO / NPO Marketin; fe *SOCIAL y NETWORKING | KEY STAKEHOLDERS | U MEDIA NGO vs NPO PROMOTIONS |} eIMC y \| |*SOCIAL * PROMOTIONS» IMC NETWORKING } MEDIA 37 MARKETING PLAN * Do’s & Don’ts of Marketing Plan Marketing Plan WRITE-UP © Title * Acknowledgements } ¢ Table of Contents | ¢ Executive Summary ¢ Introduction © Industrial / Market Environment * Product & Branding Strategies Pricing Strategies ¢ Placing / Value Chain / Operational Strategies * Promotional Strategies + If Services (People, Process & Physical Evidences) ¢ Human Resources / Managerial Strategies ¢ Financial Strategies ¢ Plan of Action / Implementation Plan ¢ Conclusions & Recommendations ¢ Annexure i 1TL e ACKNOWLED BE MENT e “TABLE Or Contents Hie EXEcTve Gomnnty’ —LASTY USRITTEN, ARSTLY PlAceD — |-Ib pages max. 6-7 PaRRaRARHS ~ WMT s IN BUSIWESS PLAN TeR READER ~ SpELL ¢ ARAMMAR creck — PRooF READIN - Dertteee RULES To Fellow — REFERENCES INADA’ On ie — PLAGIARISM “es 7 @ ANNEXORE + Quppog tae EX\NDEN CES 6 (do RD |NAKTio Ba CHATERS Flow oF a CommsntcrTtion at MARKS: ) O77 Sebttlon ey Ya SR A sates Va . PL, ssh as 1 Ye l’ Jee Tei i mee AS oe he? L bcKtothcrvebueemes— wt! * Yeslerck sy os y NOWES on MARKETING Be Seupa <- “QLed Ge Ay y Quen R Ress” KR SEUNG eC, i Wotr oF ub STREET™ ~THaANY OV Re SmoKwQ” pisces” snnte op or WAPPINESS” cAAee” 7, J ERR Seung <_ “R ocké Me ar: Gedersrnar Me = eer Zoe NETHORM” ERE TERS Gein

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