Pratiksha Ranjan

2019003003
BBA VI B (marketing)

Unit 1
and 2
Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.

OR
Marketing is the process of planning and executing the conception,
pricing, promotion, and distribution of ideas, goods, and services to create
exchanges that satisfy individual and organizational objectives.
Market/ Market space-
Group of buyers and sellers.
Meta Markets –
 facilitate consumption – finance, information, retailing services
 A group of businesses that offer products that are related from a
consumer's perspective but which have no institutional connections.
MetaMediaries –
 A person or business that helps consumers obtain goods and services
from suppliers within a metamarket, as well as offering services such as
advice, financing, and so on.
 Brokers and Agents, one point shopping
Exchange –
 Min 2 parties, each something value, negotiate on T&C,
communicate/delivery, willing
  It is defined as the process of obtaining something of value from
someone by offering something in return

Trends in marketing:
Technological Convergence – variety of technology is complementing
and supplementing business decision making.

Artificial Intelligence

Big Data Analytics

Augmented Reality/ Virtual Reality

Geographic Information Software – GIS – Hyperlocalisation

Hyper-personalization marketing- it is a shift away from the one-size-

fits-all strategy and moves closer to providing an individual experience
for each customer. With it, you maximize the use of all your collected
real-time data and provide customers with products, services, and
content that are more relevant to them.

Voice Search Optimization- Voice search optimization is the process of

upgrading and streamlining the information on your pages to appear in
voice searches. Voice search optimization aims to optimize your page to
answer the questions for people when they conduct verbal searches.
This process allows you to have a chance to get your page read by the
voice search device (Alexa, Siri, OkGoogle) whenever the user asks for
information related to your page

Programmatic Advertising- usage of algorithms to automate purchase of

advertising media and targeting specific audience

Video marketing (short form)- This type of format aligns well with the
fast-paced attention spans of online audiences in a variety of
demographics. This is likely why platforms like TikTok, Reels, and -- in
previous years -- Snapchat have gained quick growth and marketing
interest.
 Chatbot marketing- it is a way to promote products and services using a
chatbot — a computer application that carries conversations with users
by a predetermined scenario or with the help of AI.

Influencer Marketing – Marketers collaborate with influencers and

industry thought leaders in their industry, they can expand brand
awareness and gain fans from the influencer's own audience

Utility refers to how a product can be useful to customers in a way

that convinces them to make a purchase.
 Form Utility - The utility of form refers to the appeal of a
finished product.
 Time Utility - The utility of time, or timeliness, takes into
consideration everything that goes into making products or
services available to consumers right when they’re ready to
buy.
 Place Utility - Place utility addresses convenience, an element
of the marketplace that is increasingly important to busy
consumers.
 Possession Utility - The utility of possession simply means the
satisfaction a consumer feels from buying a product or service.
 Psychological utility -Products high in psychological utility
deliver positive experimental or psychological attributes that
customers find satisfying.
STP (Segmentation-Targeting-Positioning)
The challenges and opportunities of marketing in today’s economy:
1. Power Shift to customers –
 Growth of internet has shifted the power to customers
 Customers have access to information and ability to
compare products.
 Customers can now interact with each other on review
page of the firm.
2. Massive increase in product selection –
 options increased
 Competition has increased due to radical increase in
product selection
3. Mass personalization –
 Hyper-personalisation
 it is a shift away from the one-size-fits-all strategy and
moves closer to providing an individual experience for
each customer
4. Media fragmentation –
 one media option, multiple channels, social media,
relatively – competition
 Media audiences have become fragmented due to sheer
number of media choices and limited time that we have
to devote to any one medium
5. Shifting demand patterns –
 From TV/ Cassettes to YouTube/ Netflix/ TikTok/ YouTube
Shorts
 Changes in technology have shifted customers demand
for certain product categories
SWOT
PESTLE
ETOP
E- Environment
T- Threat
O- Opportunities
P- Profiling

SAP
Strategic Advantage Profiling

Steps to develop a market plan

or
Marketing Plan Structure Model

Mission and Vision Statement

SWOT or Situational analysis

Marketing Goals and Objective

Marketing Strategy
 It involves selecting and analyzing target markets and creating and maintaining an
appropriate marketing program to satisfy the need of those target markets.
 It refers to how the firm will manage its relationships with customers in a manner that gives
it an advantage over the competition

Marketing implementation
 It describes how the marketing plan will be executed. It answers questions like:
 What specific marketing activities will be undertaken?
 How will these activities be performed?
 When will these activities be performed?
 Who is responsible for its completion?
Evaluation and Control
 It talks about how the results of the marketing program will be evaluated and controlled.
 Here, marketers compare the actual performance with the anticipated outcome.

Strategic planning process:

Mission and Vision

Vision statements typically outline where the organization is headed and
where it wants to go.
Mission – Within span 1 years
Vision – beyond 3 years

Elements of the Mission statement

These questions should clarify for the firm’s stakeholders (especially
employees):
1. Who are we?
2. Who are our customers?
3. What is our operating philosophy (basic beliefs, values, ethics, etc.)?
4. What are our core competencies or competitive advantages?
5. What are our responsibilities with respect to being a good steward of our
human, financial, and environmental resources
Corporate Strategy - In the strategic planning process, issues such as
competition, differentiation, diversification, coordination of business units, and
environmental issues all tend to emerge as corporate strategy concerns.
In small businesses, corporate strategy and business-unit strategy are
essentially the same.

Competitor Analysis-
identifying competitors on your industry and their strategies.
point of comparison for comparing your strengths and weaknesses relative to
competition.
Any options or substitutes competing for the customers disposable income.
Cola – other cola – Juice- Alcohol – Dairy – Water

Assortment Services Quality Features Benefits

 Competto1

Competition- includes all the actual and potential rival offerings and
substitutes that a buyer might consider.
 Brand competition- similar brands/ offers to same target
audience
 Industry competition- all companies making similar
products
 Form competition – supplier of similar service
 Generic competition- disposable income
Kotler

Market Cannibalism - Market cannibalization is a loss in sales caused by a

company's introduction of a new product that displaces one of its own older
products.
Flanking Strategy -
e.g., GSK – Horlicks – Upper class
GSK Maltova/ Viva – against Complan – Zydus Cadilla

Competitor Analysis -
identifying your competitor – direct/indirect/ replacement
Competitor matrix
It can benefit your business by helping you:
 Identify your business’s strengths and weaknesses.
 Understand your market.
 Spot industry trends.
 Set benchmarks for future growth.
 Direct competitors
Direct competitors sell a similar product or service to a similar target
audience. These are likely the companies that first come to mind when you
think of your competition. For example, McDonald’s likely considers other fast
food burger chains like Wendy’s and Burger King to be its direct competitors.
 Indirect competitors
Indirect competitors sell a different product or service in the same category
but target an audience similar to yours. For example, takeout pizza
restaurants like Domino’s and Papa John’s are indirect competitors of
McDonald’s.
 Replacement competitors
Replacement competitors exist outside your product category, but they satisfy
a similar customer need. For McDonald’s, replacement competitors could be
any solution that consumers turn to when they’re hungry, including products
such as frozen meals. Of the 3 types of competitors, replacement competitors
are the hardest to identify.

When conducting a competitor analysis, you should focus most of your

attention on direct and indirect competitors. Still, it’s worth briefly taking stock
of potential replacement competitors that could threaten your business
prospects.
Potential Competitors – Ansoff Matrix
1. New markets/ Existing products
Market Expansion- MG, Kia, other countries
Walmart, Starbucks
2. Product Expansion – Milk, Butter
Ice-cream, Cheese
3. Backward Integration – Sterlite acquiring copper mines, Supply
chain
4. Forward Integration – Retailing
5. Exporting competences
RIL acquired AI intelligence Haptik
Retaliatory/Defensive
Microsoft acquired Blizzard
INDIRECT COMPETITION
Safari
Creta
Venue
REPLACEMENT COMPETITION- Transport Services
Other Vehicles
Public Transport
All type of vehicles – 2/3 wheeler

IMC -
Upper-upper don’t believe in mass advertising/Broadcasting
Magazines and other elite options.
Audi, Merc – Advtg
Rolls-Royce
Pdt/Procg/Availabilty/Pmtn
Marketing Goals:

Developing MKtg Goals:

Direction of growth is not being to be clear/specific.

Benchmark – standards
Goals- direction, priorities, evaluating alternatives, making decisions
Market Penetration/ Mkt development
Areas- aware, preferential, recommend,
Mktg Goals- outcomes through actions
attainable, consistent, comprehensive, and involve some degree of intangibility

1. Attainable – realistic: environment, reasonable

Gillett- razor mkt share, morale, performance
challenger

2. Consistency – goals should be in alignment/ in sync with each other

mkt share/ profitability Can u gain mkt share with high prices??
Skimming/ Increasing mkt share
Lean inventory – Enhance the customer service
Law of demand – if the price will increasedemand decrease, increase mkt shareGoals
are contrary to each other.
lean/limited Stocks in warehouse/inventory – NO

3.Comprehensiveness-
functional area – own goals, must contribute to the achievement of larger goals
Suer-ordinate goals
Mktg Research – consumer preferences,
Mktg- offer value a superior way
Overall Goals – Inc Mkt share

4. Intangibility – goals= accomplishment/outcome which an action is going to facilitate

effective training methods, creative advertising, trained sale staff

5 W’s Model:
WHO
WHAT
WHERE
WHEN
WHY
 Who – It should allow you to cover everyone that is concerned and not only
the main person involved. You may have several typical clients who should be
included in these questions.
In this case, it is interesting to make a table with several entries:

 Who is aware of the situation?

 Who is purchasing this item? Who will use it?
 Who is it?
 Who is the person linked with in this context?
 Who is he/she working for?
 Who is the owner?

What - It refers to the purpose of why you are implementing this
methodology. It is often the trigger:

 What difficulties do you encounter?

 What product or service?
 What is the purpose of using this methodology?
 In relation to what is the person concerned working on?

Where- It identifies the precise place or location linked to the issue raised:

 Where is the client located when using the item?

 Where is he heading?
 Where does the issue occur?

 Where could the information be found?

When- It refers to the time(s) when the event(s) occurs. It may also indicate
a period of time or a deadline:

 When does the client use the item?

 From when does the audience log on to my site?
 Until which year do we hope to sell this item?

 When do we have to send the newsletter?

 At what age will they have children?

Why- It relates to the reason or trigger of the situation. It allows us to find the

first elements of the answer:
 What caused the decrease in turnover?
 What is the reason that triggered the purchase?
 Why do people prefer version A rather than version B?
 Why do readers visit our site less often?