MARKET

IN THE MARKET PLACE

Who rules the market? Who serves the market? Do marketing and ethics meet?

Marketing
Marketing is a social and managerial process by which individual and groups obtain what they want and need through creating ,offering and exchanging products of value to customers.

LET US GO TO THE MARKET

THE CUSTOMER KING

The Marketer is a Cheat

Customer Perception: The seller is out to get me. You do not have it! You need it!! The seller is a hypnotist of price rigging. Sale! Sale!! Sale!!! The seller is an exploiter of emotions This Diwali This Christmas . Give your child..

Eleven Ways to Tame the Salesman

Customer Speak
1. I cant afford it! 2. Let us see give me the brochure your card 3. I would have to ask my wife/husband, you know. 4. This quality looks suspect. 5. Others are giving a big discount!? 6. Others are much cheaper. 7. The cheque is sent by courier. 8. Oh, hello! I am out of station. 9. Sorry. He (she) is not here. 10. I am sorry, I could not make it. 11. Tomorrow? Oh no. I am attending a funeral.

What they mean

Your price is too high I do not want to see you again You are not a good salesman. I will speak to someone else next time. I want it; but price is not right. Shooting in the dark helps! Bluff and bluster. Whats the hurry; wait. Get lost! Third person strategy works! Patent lie; quite convincing. Big lie is equivalent to truth.

MARKETING CREDO
CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING CUSTOMER IS KING

CUSTOMER KING
Marketers Credo: The emperor wants to believe even though he does not see (The customer is a snob) With perseverance you can snake-charm the emperor (The fish is easily caught in a pond)

You got to be joking

ETHICS IN THE MARKET PLACE

MARKETING DIVISIONS

Market Research

Product Positioning

Distribution

Pricing

Promotion

Product Positioning
Product Manager Finding favorable product position Competition to affirm leading Position Strategies of competition Product Differentiation

Packaging Labeling and Launching

Packaging Container Physical Protection Barrier Protection Agglomeration Portion Control Convenience

Ethical and sustainable packaging

Drivers of ethical packaging

Retailers Consumers Manufacturers Regulation New Materials Extensive Media Coverage

 Resister Of Ethical Packaging

Cost Time Ability to market to consumers Measuring Success

Labeling Logistical Information Marketing Launching Marketing Research Communication Visibility Strategy for execution

Pricing and its consequences

Objectives of Pricing o Competitive Pricing o Prestige Pricing o Profitability Pricing o Volume Pricing

Pricing Strategies
Penetration Pricing Strategy Price Skimming Competitive pricing Price shading Seasonal Pricing Term Pricing Segment Pricing Volume pricing

MARKETING ETHICS

Ethics in Market Research: In search of truth about the needs of customers

Ethics of Product Positioning: Finding place among competitors without manipulations

Ethics of Distribution: All about correct margins

Ethics of Pricing: Nothing is free, of course but at a right price

Ethics of Promotion: Clever, smart but never mean

MARKET MEET
Market is a meeting place of buyers and sellers.

There is choice for the buyers.

Equilibrium: When buyers have value for their money, sellers have their profits and they live happily ever after

The buyers are like kings their demand is the market law

Buyer seller relationship (good and bad) is marketing ethics

Marketing is the art of making buyers buy

Choice of Ethical Model

RELATIONSHIP MARKETING

Building Relationships
Relationship marketing retention and satisfaction of customers - is half a century old Internet has revolutionized the relationship marketing through the sheer volume of information and ease of communication Communication builds relationships Personal attention and creation of value to the customer has brought transparency in exchange The global recession of 2008 has brought to the consciousness of the companies the need for relationship marketing

Family Enterprise and Customer Relationship

Before the origin large of corporations, small businesses were run by families over several generations and so too was their clientele remained faithful, almost creating a sacred tradition. Traditions nurture relationships Several companies have succeeded to carry forward the family values

Exercise: Can you discover these values in some of the Indian companies?

Internalized Values
Experts opine that the values practiced within the company somehow reflect and affect the consumers Companies with good values have an impact on the market The normal processes of transactional marketing coupled with the internalized values of the company facilitate build very strong customer relationships

Exercise: Conduct research on the above assumptions

Marketing Philosophy

You are an entrepreneur (specify) State your marketing strategy Around which value does your philosophy evolve? Do you have a precedent (company) to follow?

Thank you