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Marketing management

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1. First year marketing and sales management Paper-580/1.4 Assignments Submit by- Submit to- Kawinder jit Rakesh Kumar Enroll no.-5800800101 Checked by- 2. Contents…
  • 1. First year marketing and sales management Paper-580/1.4 Assignments Submit by- Submit to- Kawinder jit Rakesh Kumar Enroll no.-5800800101 Checked by-
  • 2. Contents <ul><li>Unit I – Understanding Marketing Management </li></ul><ul><li>Assign: Big Bazaar stresses the money saving aspect of shopping .how is the combination of brand name products at low prices likely to affect the consumer perception of value at big bazaar how can big bazaar use the 4p’s of its marketing mix to enhance customers perception of the value of its total offer </li></ul><ul><li>Unit II -Analyzing Marketing Opportunities </li></ul><ul><li>Assign.-What cultural, social, personal and psychological factors have the most influence on consumers buying designer fashion? </li></ul><ul><li>Unit III - Developing Marketing Strategies </li></ul><ul><li>Assign.-Prove with examples that there is no reason for a brand to become obsolete no matter how long it has been in the market. . </li></ul><ul><li>Unit IV - Shaping the Market Offering </li></ul><ul><li>Assign.- . Is price discrimination desirable? Discuss the question keeping in view pricing in the apparel industry. </li></ul><ul><li>Unit V -Managing and Delivering Marketing Programs </li></ul><ul><li>Assign.- . Do you agree with the statement: TV is the most powerful advertising medium ? </li></ul>
  • 3. Unit I Big Bazaar stresses the money saving aspect of shopping .how is the combination of brand name products at low prices likely to affect the consumer perception of value at big bazaar how can big bazaar use the 4p’s of its marketing mix to enhance customers perception of the value of its total offer
  • 6. &quot;Is se sasta aur accha kahin nahi!“ (&quot;Nowhere cheaper or better than this!&quot;), the Big Bazaar targets itself directly at the average Indian's love of following the crowd and scrambling for a good discount.
  • 7. <ul><li>Low prices. </li></ul><ul><li>Great sales and promotions. </li></ul><ul><li>Wide range of products under the one roof. </li></ul><ul><li>Many stores </li></ul>
  • 8. <ul><ul><li>Big Bazaar: Positioning & Establishment </li></ul></ul><ul><li>Big Bazaar has established itself in the first quadrant of Organization Value and Customer Value Matrix . The key features that have shaped in establishing of brand includes: - </li></ul><ul><li>Big Bazaar ensures that no other kirana store / departmental store are offering considerable discount compared to its own price. This helped Big Bazaar in being the &quot;value for money&quot; store. </li></ul><ul><li>Big Bazaar scores high on product mix as compared to kirana store. </li></ul><ul><li>Cheap and local products are heavily stocked in Big Bazaar which make it easier to attract lower middle class category of customers. </li></ul><ul><li>Promotion of kirana is rare event but Big Bazaar used this channel efficiently to establish itself as national brand. </li></ul>
  • 9. Product=> a large variety of products are offered in the shop, so customers get so many different kind of items under one roof. Thus it acts as a 1 stop family shop due to its varieties. Price=> The price of all the items are less compared to the market. Customers of all class comes to Big Bazaar and get satisfied. Place=> The shop is usually located in the downtown areas in cities. so it is very convenient for customers to visit the same. Promotion=> sufficient promotion in local newspapers and TV channels and also the road shows certainly will enhance the customers perception of value.
  • 10. <ul><li>Consumer Insights & Perceptions </li></ul><ul><li>Big Bazaar is based on 3-C theory of Kishore Biyani. The 3-C symbolize Change, Confidence and Consumption, and according to this theory, &quot;Change and confidence is leading to rise in Consumption&quot;. They divided Indian customers in three categories: - </li></ul><ul><li>India One </li></ul><ul><li>Consuming class, constitutes only 14% of Indian population. </li></ul><ul><li>They are upper middle class and most of customers have substantial disposable income. </li></ul><ul><li>Initial focus of Big Bazaar. </li></ul><ul><li>India Two </li></ul><ul><li>Serving class which includes people like drivers, house-hold helps, office peons, washer-men, etc. </li></ul>
  • 11. <ul><li>India Three </li></ul><ul><li>Struggling class, remaining population of India. </li></ul><ul><li>Cannot afford to inspire for better living, have hand-to-mouth existence. </li></ul><ul><li>Needs cannot be addressed by current business models. </li></ul><ul><li>The potential customers of Big Bazaar are India One and India Two. The customer insights were developed by close observation of the target set. The insights that came out were: - </li></ul><ul><li>The clean and shiny environment of modern retail stores creates the perception that such store are too expensive and exclusive, and are not meant for India Two. </li></ul><ul><li>India Two finds moves and find a lot of comfort in crowds, they are not individualistic. They prefer to be in queues. </li></ul><ul><li>Indian-ness is not about swadeshi , it’s about believing in Indian ways of doing things. </li></ul><ul><li>Indian customers prefer to purchase grains, grams, etc., after touching them, so it’s better not to sell in polythene packs. Big Bazaar has counters where you can touch wheat, rice, sugar, etc., before purchasing. </li></ul><ul><li>Advertisements about schemes and offers through local newspapers, radio in local languages, inspires customer more than the traditional ways. </li></ul><ul><li>The guards, salesman at the Big Bazaar outlets should not look smarter than customer, so they prefer not to have tie, etc., in their uniform. </li></ul>
  • 12. Perception of value of an offering in the minds of customers depends on two factors, Benefits and Costs. V=B/C This means that more the benefits customers receive at a given cost more will be the value in their minds. Here, benefit means all the benefits like functional, social and emotional (as I had already explained in the previous answer). And costs does not mean only monetary costs rather it is the sum of Time (like waiting time of a shop) customers have to spend to get the product, Effort they have to put in order to get those (e.g. traveling up to the shop, searching in the shop etc.) and finally, Money, i.e. monetary price of the product. So, if you want to enhance the perceived value by using 4 P’s then you have to tune your 4 P’s in order to increase the perceived benefits or decrease the perceived costs. (Here note that every factor i.e. value, benefit and cost is as perceived by customers and nothing is absolute. So, if your customer thinks a product is not beneficial, it’s not beneficial.)
  • 13. Unit II
  • 14. Consumer purchases are influenced strongly by or there are four factors. 01. Cultural Factor 02. Social Factor 03. Personal Factor 04. Psychological Factor .
  • 15. <ul><li>Cultural Factor :- </li></ul><ul><li>Cultural factor divided into three sub factors (i) Culture (ii) Sub Culture (iii) Social Class </li></ul><ul><ul><li>Culture:- </li></ul></ul><ul><ul><ul><li>The set of basic values perceptions, wants, and behaviours learned by a member of society from family and other important institutions. Culture is the most basic cause of a person’s wants and behaviour. Every group or society has a culture, and cultural influences on buying behaviour may vary greatly from country to country. </li></ul></ul></ul><ul><ul><li>Sub Culture :- </li></ul></ul><ul><ul><ul><li>A group of people with shared value systems based on common life experiences and situations. </li></ul></ul></ul><ul><ul><ul><li>Each culture contains smaller sub cultures a group of people with shared value system based on common life experiences and situations. Sub culture includes nationalities, religions, racial group and geographic regions. Many sub culture make up important market segments and marketers often design products. </li></ul></ul></ul><ul><ul><li>Social Class:- </li></ul></ul><ul><ul><ul><li>Almost every society has some form of social structure, social classes are society’s relatively permanent and ordered divisions whose members share similar values, interests and behaviour. </li></ul></ul></ul>
  • 16. <ul><li>02. Social Factors :- </li></ul><ul><li>A consumer’s behaviour also is influenced by social factors, such as the (i) Groups (ii) Family (iii) Roles and status </li></ul><ul><ul><li>Groups :- </li></ul></ul><ul><ul><ul><li>Two or more people who interact to accomplish individual or mutual goals. </li></ul></ul></ul><ul><ul><ul><li>A person’s behavious is influenced by many small groups. Groups that have a direct influence and to which a person belongs are called membership groups. </li></ul></ul></ul><ul><ul><ul><li>Some are primary groups includes family, friends, neighbours and coworkers. Some are secondary groups, which are more formal and have less regular interaction. These includes organizations like religious groups, professional association and trade unions. </li></ul></ul></ul><ul><ul><li>Family:- </li></ul></ul><ul><ul><ul><li>Family members can strongly influence buyer behaviour. The family is the most important consumer buying organization society and it has been researched extensively. Marketers are interested in the roles, and influence of the husband, wife and children on the purchase of different products and services. </li></ul></ul></ul><ul><ul><li>Roles and Status :- </li></ul></ul><ul><ul><ul><li>A person belongs to many groups, family, clubs, organizations. </li></ul></ul></ul><ul><ul><ul><li>The person’s position in each group can be defined in terms of both role and status. </li></ul></ul></ul><ul><ul><ul><li>For example. M & “X” plays the role of father, in his family he plays the role of husband, in his company, he plays the role of manager, etc. A Role consists of the activities people are expected to perform according to the persons around them. </li></ul></ul></ul>
  • 17. <ul><li>03. Personal Factors :- </li></ul><ul><ul><li>Age and Life cycle Stage:- </li></ul></ul><ul><ul><ul><li>People changes the goods and services they buy over their lifetimes. Tastes in food, clothes, furniture, and recreation are often age related. Buying is also shaped by the stage of the family life cycle. </li></ul></ul></ul><ul><ul><li>Occupation :- </li></ul></ul><ul><ul><ul><li>A person’s occupation affects the goods and services bought. Blue collar workers tend to buy more rugged work clothes, whereas white-collar workers buy more business suits. A Co. can even specialize in making products needed by a given occupational group. Thus, computer software companies will design different products for brand managers, accountants, engineers, lawyers, and doctors. </li></ul></ul></ul><ul><ul><li>Economic situation :- </li></ul></ul><ul><ul><ul><li>A person’s economic situation will affect product choice </li></ul></ul></ul><ul><ul><li>Life Style :- </li></ul></ul><ul><ul><ul><li>Life Style is a person’s Pattern of living, understanding these forces involves measuring consumer’s major AIO dimensions. </li></ul></ul></ul><ul><ul><ul><li>i.e. activities (Work, hobbies, shopping, support etc) interest (Food, fashion, family recreation) and opinions (about themselves, Business, Products) </li></ul></ul></ul><ul><ul><li>Personality and Self concept :- </li></ul></ul><ul><ul><ul><li>Each person’s distinct personality influence his or her buying behaviour. Personality refers to the unique psychological characteristics that lead to relatively consistent and lasting responses to one’s own environment. </li></ul></ul></ul>
  • 18. <ul><li>04. Psychological Factors :- </li></ul><ul><li>Motivation :- </li></ul><ul><ul><li>Motive (drive) a need that is sufficiently pressing to direct the person to seek satisfaction of the need </li></ul></ul><ul><li>Perception :- </li></ul><ul><ul><li>The process by which people select, Organize, and interpret information to form a meaningful picture of the world. </li></ul></ul><ul><li>Learning:- </li></ul><ul><ul><li>Changes in an individuals behaviour arising from experience. </li></ul></ul><ul><li>Beliefs and attitudes :- </li></ul><ul><ul><li>Belief is a descriptive thought that a person holds about something </li></ul></ul><ul><ul><li>Attitude, a Person’s consistently favourable or unfavourable evaluations, feelings, and tendencies towards an object or idea </li></ul></ul>
  • 19. Prove with examples that there is no reason for a brand to become obsolete no matter how long it has been in the market Unit III
  • 20. <ul><li>Technological changes </li></ul><ul><li>Changing consumer preferences. </li></ul>
  • 21. <ul><li>Pagers were once hailed as the cheaper option to mobile phones. I remember mobile calls being in the range of Rs.15/- per minute and handsets the size of small weapons. Pagers were then useful for doctors, sales force and such like. The economies of the mobile phone industry changed and that put paid to the usefulness of pagers </li></ul>
  • 22. HMT watches comes to mind as an example. An interesting analysis of why HMT failed against Titan . It appears that HMT failed to convert its perceived weakness of a mechanical watch into a strength. It also failed to keep pace with the changing consumer trends by not projecting a modern, attractive imagery through product innovation, advertising, merchandising etc. Polaroid is another brand that once stood for instant photography. Changes in the digital photography medium made that promise irrelevant. Similarly with Kodak photographic film. Both these had to find newer ways to sustain the business
  • 23. Brand’s become obsolete due to a combination of various factors . A brand can be defined as a set of images & perceptions that a consumer has. If those perceptions are not in keeping with the changing consumer, the brand could be obsolete. <ul><li>mismanagement kills brands, not time and … time not only ages all brand identities, but kills them too. In my opinion it is people who kill brands. The brand management team and the advertising agency are collectively responsible for keeping pace with consumer needs, irrespective of time. They need to constantly tweak the brand offering and keep it relevant. The reasons behind it are:- </li></ul><ul><li>Factories burn down </li></ul><ul><li>Machinery wears out. </li></ul><ul><li>Inventories get depleted. </li></ul><ul><li>Technology becomes obsolete. </li></ul><ul><li>Image of the product </li></ul><ul><li>Brand loyalty is the only sound foundation on which business leaders can build enduring, profitable growth. </li></ul>
  • 24. Johnson & Johnson, Heinz, Gillette, Coca-Cola, Kelloggs, Shell, Lever, Levis, Schweppes, Vicks, Wrigleys, Kodak , just to name a few strong brands, are all over 100 years old! Different brands place a different emphasis on these three elements. For example, the image of the product and the image of the user are dominant in forming the Malbaro image. IBM, on the other hand, emphasizes the image of the maker. But advertising is almost never the sole source of a brands image. Packaging, displays, sponsorship, direct marketing, promotion, signage, media coverage, word-of-mouth, employees and, of course, the product and its design are all sources of brand communication.
  • 25. Unit IV Is price discrimination desirable? Discuss the question keeping in view pricing in the apparel industry.
  • 26. Meaning: Price discrimination is the practice of one retailer, wholesaler , or manufacturer charging different prices for the same items to different customer. This is a widespread practice that does not necessarily imply negative discrimination . Price discrimination, as it is now understood, is separated into degrees. First, second and third degree price discrimination exist and apply to different pricing methods used by companies. Much depends on the understanding of the market in segments, and also the consumer’s ability to pay a higher or lower price, called elasticity of demand . A person who might pay more for an item is thought to have a low elasticity of demand. Another person who will not pay as much has a high elasticity of demand
  • 27. First-degree price discrimination occurs when identical goods are sold at different prices to each individual consumer. Obviously, the seller is not always going to be able to identify who is willing to pay more for certain items, but when he or she can, his profit increases. You can see this type of price discrimination in the sale of both new and used cars. People will pay different prices for cars with identical features, and the salesperson must attempt to gauge the maximum price at which the car can be sold. This type of price discrimination often includes a bargaining aspect, where the consumer attempts to negotiate a lower price.
  • 28. Second-degree price discrimination refers to companies charging lower prices for hi
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