IKON Marketing Consultants was established in 2001 by founder and Chairman Azaz Motiwala-a highly experienced and professional marketing expert. IKON helps clients with expert advices and solutions on various areas of marketing to achieve success with sustainable business growth.
IKON is one of the few marketing strategy consulting firms that specialized in developing and implementing results-oriented marketing strategy and plan for marketing in India and International Market. IKON provides expertise marketing solution with the added dimension and know-how to implement aggressive marketing strategies and plan that produce results.
IKON's expert team consists of highly qualified and experienced marketing professionals performing on each consulting assignments with focus and dedication, delivers perfect solution and results within a timeline.
We keep our selves updated with present economic and market environment which help us to design perfect marketing solutions for clients. We perform marketing consulting practice on a national/international basis and accept new clients only by referral or interview.
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Saturday, July 31, 2010
Wednesday, July 28, 2010
Conceptos asociados
* Necesidades, deseos y demanda: la necesidad es un estado interno de tensión provocado cuando no existe un equilibrio entre lo requerido y lo que se tiene o posee. Cuando las necesidades se traducen o enuncian en objetos específicos nos encontramos con los deseos, es decir , los deseos son necesidades orientadas hacia satisfactores específicos para el individuo. La demanda es el deseo de adquirir un producto, pero con el agregado de que se tiene que tener la capacidad de adquirirlo
El marketing no crea las necesidades, estas son inherentes a las personas, el marketing orienta los deseos y crea demanda de determinado producto y marca; necesidad de saciar la sed, deseo de tomar gaseosa, demanda de bebida cola marca.
* Valor y Satisfacción: el valor es la relación que establece el cliente entre los beneficios(funcionales, status,etc) que percibe del producto que se ofrece y los costo(económicos, tiempo, esfuerzos) que representa adquirirlo. La satisfacción es el conjunto de sensaciones de placer o decepción que tiene una persona al comparar el desempeño o resultado percibido de un producto con las expectativas que tenia del mismo.
* Intercambio: implica la participación de dos o mas partes que ceden algo para obtener una cosa a cambio, estos intercambio tienen que ser mutuamente beneficiosos entre la empresa y el cliente, para construir una relación satisfactoria de largo plazo.
El marketing no crea las necesidades, estas son inherentes a las personas, el marketing orienta los deseos y crea demanda de determinado producto y marca; necesidad de saciar la sed, deseo de tomar gaseosa, demanda de bebida cola marca.
* Valor y Satisfacción: el valor es la relación que establece el cliente entre los beneficios(funcionales, status,etc) que percibe del producto que se ofrece y los costo(económicos, tiempo, esfuerzos) que representa adquirirlo. La satisfacción es el conjunto de sensaciones de placer o decepción que tiene una persona al comparar el desempeño o resultado percibido de un producto con las expectativas que tenia del mismo.
* Intercambio: implica la participación de dos o mas partes que ceden algo para obtener una cosa a cambio, estos intercambio tienen que ser mutuamente beneficiosos entre la empresa y el cliente, para construir una relación satisfactoria de largo plazo.
Marketing - Concepto y objetivo
El mercadeo tiene como objetivo principal favorecer el intercambio entre dos partes de modo que ambas resulten beneficiadas. Según Kotler, se entiende por intercambio «el acto de obtener un producto deseado de otra persona, ofreciéndole algo a cambio». Para que esto se produzca, es necesario que se den cinco condiciones:
1. Debe haber al menos dos partes.
2. Cada parte debe tener algo que supone valor para la otra.
3. Cada parte debe ser capaz de comunicar y entregar.
4. Cada parte debe ser libre de aceptar o rechazar la oferta.
5. Cada parte debe creer que es apropiado.
Si por algún motivo, alguna de las partes implicadas en el intercambio no queda satisfecha, evitará que se repita de nuevo dicho intercambio.
Como disciplina de influencias científicas, el marketing es un conjunto de principios, metodologías y técnicas a través de las cuales se busca conquistar un mercado, colaborar en la obtención de los objetivos de la organización, y satisfacer las necesidades y deseos de los consumidores o clientes.
El marketing es la orientación con la que se administra el mercadeo o la comercialización dentro de una organización. Asímismo, busca fidelizar clientes, mediante herramientas y estrategias; posiciona en la mente del consumidor un producto, marca, etc. buscando ser la opción principal y llegar al usuario final; parte de las necesidades del cliente o consumidor, para diseñar, organizar, ejecutar y controlar la función comercializadora o mercadeo de la organización.
El vocablo marketing se refiere también a una función o área funcional de la organización: el área de marketing, área comercial, el departamento de marketing, etc. Otra forma de definir este concepto es considerar marketing todo aquello que una empresa puede hacer para ser percibida en el mercado (consumidores finales), con una visión de rentabilidad a corto y a largo plazo.
Una organización que quiere lograr que los consumidores tengan una visión y opinión positivas de ella y de sus productos, debe gestionar el propio producto, su precio, su relación con los clientes, con los proveedores y con sus propios empleados, la propia publicidad en diversos medios y soportes, la presencia en los medios de comunicación (relaciones públicas), etc. Todo eso es parte del marketing.
1. Debe haber al menos dos partes.
2. Cada parte debe tener algo que supone valor para la otra.
3. Cada parte debe ser capaz de comunicar y entregar.
4. Cada parte debe ser libre de aceptar o rechazar la oferta.
5. Cada parte debe creer que es apropiado.
Si por algún motivo, alguna de las partes implicadas en el intercambio no queda satisfecha, evitará que se repita de nuevo dicho intercambio.
Como disciplina de influencias científicas, el marketing es un conjunto de principios, metodologías y técnicas a través de las cuales se busca conquistar un mercado, colaborar en la obtención de los objetivos de la organización, y satisfacer las necesidades y deseos de los consumidores o clientes.
El marketing es la orientación con la que se administra el mercadeo o la comercialización dentro de una organización. Asímismo, busca fidelizar clientes, mediante herramientas y estrategias; posiciona en la mente del consumidor un producto, marca, etc. buscando ser la opción principal y llegar al usuario final; parte de las necesidades del cliente o consumidor, para diseñar, organizar, ejecutar y controlar la función comercializadora o mercadeo de la organización.
El vocablo marketing se refiere también a una función o área funcional de la organización: el área de marketing, área comercial, el departamento de marketing, etc. Otra forma de definir este concepto es considerar marketing todo aquello que una empresa puede hacer para ser percibida en el mercado (consumidores finales), con una visión de rentabilidad a corto y a largo plazo.
Una organización que quiere lograr que los consumidores tengan una visión y opinión positivas de ella y de sus productos, debe gestionar el propio producto, su precio, su relación con los clientes, con los proveedores y con sus propios empleados, la propia publicidad en diversos medios y soportes, la presencia en los medios de comunicación (relaciones públicas), etc. Todo eso es parte del marketing.
Saturday, July 24, 2010
Create Your Marketing Plan
Your marketing plan should be a clear, concise, and well thought out document that guides you through your marketing program. It should focus on the objective of your marketing and how you intend to accomplish that objective. Whether your company provides products or services, your marketing plan is essential to your success.
The six major elements to creating a successful marketing plan are listed below. You may only need only a sentence or two per section... or you might want to break each down into a few succinct bullet points.
1. The Purpose
2. Your Target Customer
3. The Benefits of Your Product or Service
4. Your Positioning
5. Your Marketing Tactics
6. Your Marketing Budget
As you go through each section, keep the following tips and hints in mind:
Keep your marketing plan simple.
Many small business owners get so involved in details that they lose sight of their goals. By keeping your plan simple, you will create a clear roadmap that focuses on what you need to accomplish.
Write your marketing plan down (as opposed to thinking about it and keeping it in your head).
It is important to have a document that will remind you what you are trying to accomplish.
Be direct and be clear.
If you're not sure, ask a friend, relative, colleague or employee to read your plan. They should immediately grasp your goals.
Don't build in too much flexibility.
You may be tempted to plan for various market contingencies. If your market changes that quickly, then you should incorporate that into your plan. But create a strategy you can keep to - that's the purpose of having a plan in the first place.
Review your marketing plan often - quarterly or even monthly.
That doesn't mean you have to revise it every month. But take some time to evaluate it and make sure you're on track.
The six major elements to creating a successful marketing plan are listed below. You may only need only a sentence or two per section... or you might want to break each down into a few succinct bullet points.
1. The Purpose
2. Your Target Customer
3. The Benefits of Your Product or Service
4. Your Positioning
5. Your Marketing Tactics
6. Your Marketing Budget
As you go through each section, keep the following tips and hints in mind:
Keep your marketing plan simple.
Many small business owners get so involved in details that they lose sight of their goals. By keeping your plan simple, you will create a clear roadmap that focuses on what you need to accomplish.
Write your marketing plan down (as opposed to thinking about it and keeping it in your head).
It is important to have a document that will remind you what you are trying to accomplish.
Be direct and be clear.
If you're not sure, ask a friend, relative, colleague or employee to read your plan. They should immediately grasp your goals.
Don't build in too much flexibility.
You may be tempted to plan for various market contingencies. If your market changes that quickly, then you should incorporate that into your plan. But create a strategy you can keep to - that's the purpose of having a plan in the first place.
Review your marketing plan often - quarterly or even monthly.
That doesn't mean you have to revise it every month. But take some time to evaluate it and make sure you're on track.
Wednesday, July 21, 2010
Customer Application Development
Custom solutions & applications enable organizations to derive competitive advantage, to address gaps in the functionality provided by commercial packaged applications, to address aspects of the business process that are unique to them and to address business processes for which no solutions are available in the market. Both, customization of existing applications and creation of new custom applications requires business and IT teams to work very closely in understanding business processes and clearly identifying requirements.
Abaris Softtech Incorporation specializes in working closely with business users while implementing solutions for their requirements through high-quality IT systems.We understand that the high failure rate for application development projects is due to disconnect between business users and IT teams.Our approach spends most amounts of time and resource during the requirements and design phase than any other part of the project. We use a pre-defined backbone framework for project delivery filled with timely milestones and checkpoint
Abaris Softtech Incorporation specializes in working closely with business users while implementing solutions for their requirements through high-quality IT systems.We understand that the high failure rate for application development projects is due to disconnect between business users and IT teams.Our approach spends most amounts of time and resource during the requirements and design phase than any other part of the project. We use a pre-defined backbone framework for project delivery filled with timely milestones and checkpoint
Marketing Research @Abaris Softtech Incorporation
Abaris Softtech Incorporation has a long span in the area of Information Technology.We provide a absolute solution of our client requirment .Abaris Softtech Incorporation has a strong infrastructure and IT theme in managing and supporting enterprise applications for its customers.Our Business and Application management processes are predicated on ensuring that systems are flexible and evolve with customer needs. We enable systems to constantly change and incorporate newer tools and technologies into base applications. With an ever-growing ,ever-learning and ever-technical-skill's enhancing team of experts, we become watchdogs that lookout for newer tools and technologies that can be incorporated into customer applications. This ensures smooth transitions and incorporation of efficiencies as the system grows and as newer technologies become available.
Organizations make significant IT investments to enhance business processes and derive appropriate returns. These investments are made over a period of time and spread across the technology spectrum; spanning from legacy platform to client-server systems to more contemporary multi-tier browser based systems. In an environment where businesses are continuously changing and newer tools and better technologies are emerging; managing IT to keep in step with business, while leveraging existing assets, is one of the biggest challenges facing organizations. It is imperative for organizational success that IT becomes more effective and efficient in managing existing assets, while providing business the edge to compete.
Organizations make significant IT investments to enhance business processes and derive appropriate returns. These investments are made over a period of time and spread across the technology spectrum; spanning from legacy platform to client-server systems to more contemporary multi-tier browser based systems. In an environment where businesses are continuously changing and newer tools and better technologies are emerging; managing IT to keep in step with business, while leveraging existing assets, is one of the biggest challenges facing organizations. It is imperative for organizational success that IT becomes more effective and efficient in managing existing assets, while providing business the edge to compete.
Books-Marketing
* E-Marketing (International Edition), by Judy Strauss, Adel El-Ansary and Raymond Frost, Pearson-Prentice Hall, 2006, 4th edition, ISBN: 0-13-196902-1
* Strategic Internet Marketing, by Dann and Dann, 2nd Edition, Wiley, 2004, ISBN: 0-470-80427-0
* International E-Business Marketing, by Fletcher, Bell and McNaughton, THOMSON, 2004, ISBN: 1-86152-945-7
* Internet Marketing: Foundations and Applications, 2nd Edition, by Carolyn Siegel, Houghton Mifflin Company, 2006, ISBN:0-618-51999-8
* Internet Marketing: building advantage in a networked economy, by Rafi Mohammed, Robert Fisher, Bernard Jaworski and Aileen Cahill, McGraw-Hill /Irwin, 2002, ISBN:0-07-251022-6.
* Internet Marketing – Strategy, Implementation and Practice, 3rd Edition, by Dave Chaffey, Fiona Ellis-Chadwick, Kevin Johnston and Richard Mayer, 2006, Prentice Hall-Financial Times (Pearson Education), ISBN: 0-273-69405-7.
* Customer Relationship Management – Concepts and Tools, by Francis Buttle, Elsevier, 2004, ISBN: 0 7506 5502 X
* Customer Relationship Management – Perspectives from the Marketplace, by Knox, Maklan, Payne, Peppard and Ryals, Butterworth and Heinemann, 2003, ISBN: 0 7506 5677 8
* Handbook of CRM – Achieving Excellence in Customer Management, by A. Payne, Elsevier, Butterworth and Heinemann 2006, ISBN: 0-7506-6437-1
* Customer Relationship Management – Integrating Marketing Strategy and Information Technology, by Zikmund, McLeod and Gilbert, Wiley, 2003, ISBN: 0-471-27137-3
* Turban, E., Lee, J.K., King, D., McKay, J. and Marshall, P. (2008) Electronic Commerce 2008: A Managerial Perspective, Fifth Edition, Pearson - Prentice Hall, ISBN: 0-13-2243318
* Farhoomand A. & Lovelock P., (2001). Global eCommerce: text and cases, Prentice Hall.
* Buttle, F. (2004). Customer Relationship Management: Concepts and Tools, Elsevier.
* Doukidis, G. and Vrechopoulos, A. (Eds). (2005). Consumer Driven Electronic Transformation: Applying New Technologies to Enthuse Consumers and Transform the Supply Chain, Springer-Verlag.
* Strategic Internet Marketing, by Dann and Dann, 2nd Edition, Wiley, 2004, ISBN: 0-470-80427-0
* International E-Business Marketing, by Fletcher, Bell and McNaughton, THOMSON, 2004, ISBN: 1-86152-945-7
* Internet Marketing: Foundations and Applications, 2nd Edition, by Carolyn Siegel, Houghton Mifflin Company, 2006, ISBN:0-618-51999-8
* Internet Marketing: building advantage in a networked economy, by Rafi Mohammed, Robert Fisher, Bernard Jaworski and Aileen Cahill, McGraw-Hill /Irwin, 2002, ISBN:0-07-251022-6.
* Internet Marketing – Strategy, Implementation and Practice, 3rd Edition, by Dave Chaffey, Fiona Ellis-Chadwick, Kevin Johnston and Richard Mayer, 2006, Prentice Hall-Financial Times (Pearson Education), ISBN: 0-273-69405-7.
* Customer Relationship Management – Concepts and Tools, by Francis Buttle, Elsevier, 2004, ISBN: 0 7506 5502 X
* Customer Relationship Management – Perspectives from the Marketplace, by Knox, Maklan, Payne, Peppard and Ryals, Butterworth and Heinemann, 2003, ISBN: 0 7506 5677 8
* Handbook of CRM – Achieving Excellence in Customer Management, by A. Payne, Elsevier, Butterworth and Heinemann 2006, ISBN: 0-7506-6437-1
* Customer Relationship Management – Integrating Marketing Strategy and Information Technology, by Zikmund, McLeod and Gilbert, Wiley, 2003, ISBN: 0-471-27137-3
* Turban, E., Lee, J.K., King, D., McKay, J. and Marshall, P. (2008) Electronic Commerce 2008: A Managerial Perspective, Fifth Edition, Pearson - Prentice Hall, ISBN: 0-13-2243318
* Farhoomand A. & Lovelock P., (2001). Global eCommerce: text and cases, Prentice Hall.
* Buttle, F. (2004). Customer Relationship Management: Concepts and Tools, Elsevier.
* Doukidis, G. and Vrechopoulos, A. (Eds). (2005). Consumer Driven Electronic Transformation: Applying New Technologies to Enthuse Consumers and Transform the Supply Chain, Springer-Verlag.
Tuesday, July 13, 2010
MARKETING CONCEPT AND PHILOSOPHY
The marketing concept and philosophy is one of the simplest ideas in marketing, and at the same time, it is also one of the most important marketing philosophies. At its very core are the customer and his or her satisfaction. The marketing concept and philosophy states that the organization should strive to satisfy its customers' wants and needs while meeting the organization's goals. In simple terms, "the customer is king".
The implication of the marketing concept is very important for management. It is not something that the marketing department administers, nor is it the sole domain of the marketing department. Rather, it is adopted by the entire organization. From top management to the lowest levels and across all departments of the organization, it is a philosophy or way of doing business. The customers' needs, wants, and satisfaction should always be foremost in every manager and employees' mind. Wal-Mart's motto of "satisfaction guaranteed" is an example of the marketing concept. Whether the Wal-Mart employee is an accountant or a cashier, the customer is always first.
As simple as the philosophy sounds, the concept is not very old in the evolution of marketing thought. However, it is at the end of a succession of business philosophies that cover centuries. To gain a better understanding of the thought leading to the marketing concept, the history and evolution of the marketing concept and philosophy are examined first. Next, the marketing concept and philosophy and some misconceptions about it are discussed.
The implication of the marketing concept is very important for management. It is not something that the marketing department administers, nor is it the sole domain of the marketing department. Rather, it is adopted by the entire organization. From top management to the lowest levels and across all departments of the organization, it is a philosophy or way of doing business. The customers' needs, wants, and satisfaction should always be foremost in every manager and employees' mind. Wal-Mart's motto of "satisfaction guaranteed" is an example of the marketing concept. Whether the Wal-Mart employee is an accountant or a cashier, the customer is always first.
As simple as the philosophy sounds, the concept is not very old in the evolution of marketing thought. However, it is at the end of a succession of business philosophies that cover centuries. To gain a better understanding of the thought leading to the marketing concept, the history and evolution of the marketing concept and philosophy are examined first. Next, the marketing concept and philosophy and some misconceptions about it are discussed.
Marketing Career Vs Sales Career
Sir , I want to build a career in marketing but I don't like to do sales. How can I get a marketing job without doing sales ?
- I have come across this question a hundred times in my career as a teacher. The eager beaver MBAs wanting to build a career in the glamorous world of marketing without having to sweat it out in sales. By marketing careers, they mean all those jobs that involves creating marketing strategies, brand management etc and not the field sales jobs.
Understandably so !
Sales jobs , although plenty to find, are tougher than ever before. Many firms focusing on growth at any cost has virtually eliminated all possibilities of ethical selling. Many firms believe sales can be /should be done by everyone in the organisation irrespective of whether that person is fit for such a function. It is not how you sell but how much you sell that is now counted.
MBAs , from those tier II business schools ,who inevitably land in such sales jobs find their dreams of a professional marketing career shattered. The high pressure selling, four letter expletives, hire and fire stories, rude clients make their initial corporate years something comparable to hell. It seems to them that they are in a rut from where there is no escape...
Is this the marketing that Kotler speaks about ? When am I going to think about the strategies, 4 P's , branding etc ? How long am I going to wait till I get such a job ?
These are my thoughts about building a career in marketing !
My personal opinion is that it is better to have some hardcore sales experience in sales before thinking about a career in the so called glamorous world of Marketing. Sales will give you lot of inputs about customers, their needs, behaviour, how the channel works etc which will be of tremendous help to you when you enter into the world of marketing strategy. You will be able to device practical marketing strategy since you know how the market works.
Having some sales experience also acts as a career insurance . That experience will help you to be employable even in times of recession. Hence even if you have landed yourself in a sales job you did not like, it is better to stay there for the experience of it ( if all other factors like pay, working environment etc are good ). I have seen many students who initially were skeptical of a sales job later thriving in it. So shed all those inhibitions on being a Salesman. You have nothing to lose except those meaningless calender years.
Having said that, there are marketing jobs that young MBAs can look for which may not have a sales content. Marketing research , Analytics, Creatives, Designers, Retailing , Business Analysts etc are some of those marketing jobs where direct sales component is not present. But these jobs are limited and hard to get.
Also remember that hardcore marketing jobs like Brand Management, product management are often not advertised. Most of these jobs are filled through lateral placements. The point is that these jobs may not come to business school campuses other than the top 10. Hence the task is to network while on the job and find the right contact who can land you that dream job.
My advice to fresh MBAs is not to be heartbroken if you don't land up that marketing job of your dreams. Slog it on sales job , get some experience, network and land your dream job.
- I have come across this question a hundred times in my career as a teacher. The eager beaver MBAs wanting to build a career in the glamorous world of marketing without having to sweat it out in sales. By marketing careers, they mean all those jobs that involves creating marketing strategies, brand management etc and not the field sales jobs.
Understandably so !
Sales jobs , although plenty to find, are tougher than ever before. Many firms focusing on growth at any cost has virtually eliminated all possibilities of ethical selling. Many firms believe sales can be /should be done by everyone in the organisation irrespective of whether that person is fit for such a function. It is not how you sell but how much you sell that is now counted.
MBAs , from those tier II business schools ,who inevitably land in such sales jobs find their dreams of a professional marketing career shattered. The high pressure selling, four letter expletives, hire and fire stories, rude clients make their initial corporate years something comparable to hell. It seems to them that they are in a rut from where there is no escape...
Is this the marketing that Kotler speaks about ? When am I going to think about the strategies, 4 P's , branding etc ? How long am I going to wait till I get such a job ?
These are my thoughts about building a career in marketing !
My personal opinion is that it is better to have some hardcore sales experience in sales before thinking about a career in the so called glamorous world of Marketing. Sales will give you lot of inputs about customers, their needs, behaviour, how the channel works etc which will be of tremendous help to you when you enter into the world of marketing strategy. You will be able to device practical marketing strategy since you know how the market works.
Having some sales experience also acts as a career insurance . That experience will help you to be employable even in times of recession. Hence even if you have landed yourself in a sales job you did not like, it is better to stay there for the experience of it ( if all other factors like pay, working environment etc are good ). I have seen many students who initially were skeptical of a sales job later thriving in it. So shed all those inhibitions on being a Salesman. You have nothing to lose except those meaningless calender years.
Having said that, there are marketing jobs that young MBAs can look for which may not have a sales content. Marketing research , Analytics, Creatives, Designers, Retailing , Business Analysts etc are some of those marketing jobs where direct sales component is not present. But these jobs are limited and hard to get.
Also remember that hardcore marketing jobs like Brand Management, product management are often not advertised. Most of these jobs are filled through lateral placements. The point is that these jobs may not come to business school campuses other than the top 10. Hence the task is to network while on the job and find the right contact who can land you that dream job.
My advice to fresh MBAs is not to be heartbroken if you don't land up that marketing job of your dreams. Slog it on sales job , get some experience, network and land your dream job.
Flipkart - From Bookstore to Store
Regular readers of Marketing Practice know that I am not a big fan of Brand Extensions. I always feel uneasy when a brand moves from its defined space to a broader field of play . Flipkart has done just that. From a simple , clutter free online bookstore, the brand has now become an online store selling not only books but mobiles, music videos and gift vouchers.
Reflecting the change in the business strategy, the tagline of Flipkart has also changed from " The bookstore at your door " to " The store at your door ".
Flipkart within a short span of time was able to quickly gain consumer interest because of the simple interface , better pricing and quick service. Customers like me who found other sites like Indiaplaza too cluttered began to look at Flipkart as a serious alternative. In my opinion, Flipkart was a classic example of a brand which offered a simple highly focussed solution for the customer.
Not any more !
Flipkart now is not a bookstore. It is now an online store just like any other online stores. The only differentiating factor is that it retains the simple interface.
The change in the business model of Flipkart will have a serious impact on the brand itself. The brand was built as an online bookstore and now has diluted its core positioning . Now what is the difference between Flipkart, Indiaplaza, Infibeam, tradus and numerous online stores that retails everything from books to innerwears.
While in the books' retailing Flipkart has demonstrated its strength in getting the best price and ensuring fast delivery, will it be able to do that in other categories like mobilephones ? The business logic behind Flipkart to get into other categories is to get more revenue, the question is whether it could demonstrate its success in other categories aswell.
There can be many reasons behind this move :
* Book margins may be underpressure and does not make business sense to concentrate on books alone because of price/margin/competitive pressure.
* Wanted to emulate the business model of Amazon which successfully moved from books to other categories
* Investor pressure to deliver more returns.
* Other categories offered lucrative opportunities.
* Want to cash in the brand equity.
* Founders want to build scale and exit ?
Does it not make sense for Flipkart to concentrate on books alone and become the best/largest/most profitable online bookstore in the country ? I assume that the founders may be under pressure to grow very fast and give more returns to the " angels " who have invested in the venture ( its my assumption !).
I am not going to predict the future of Flipkart as an ordinary store. But in a branding point of view, Flipkart will be diluting its current stature as a highly efficient online bookstore. Thus leaving its exclusive space to potential competitors.
I wish that the brand replicate its success in the current ' diluted ' avatar.
Reflecting the change in the business strategy, the tagline of Flipkart has also changed from " The bookstore at your door " to " The store at your door ".
Flipkart within a short span of time was able to quickly gain consumer interest because of the simple interface , better pricing and quick service. Customers like me who found other sites like Indiaplaza too cluttered began to look at Flipkart as a serious alternative. In my opinion, Flipkart was a classic example of a brand which offered a simple highly focussed solution for the customer.
Not any more !
Flipkart now is not a bookstore. It is now an online store just like any other online stores. The only differentiating factor is that it retains the simple interface.
The change in the business model of Flipkart will have a serious impact on the brand itself. The brand was built as an online bookstore and now has diluted its core positioning . Now what is the difference between Flipkart, Indiaplaza, Infibeam, tradus and numerous online stores that retails everything from books to innerwears.
While in the books' retailing Flipkart has demonstrated its strength in getting the best price and ensuring fast delivery, will it be able to do that in other categories like mobilephones ? The business logic behind Flipkart to get into other categories is to get more revenue, the question is whether it could demonstrate its success in other categories aswell.
There can be many reasons behind this move :
* Book margins may be underpressure and does not make business sense to concentrate on books alone because of price/margin/competitive pressure.
* Wanted to emulate the business model of Amazon which successfully moved from books to other categories
* Investor pressure to deliver more returns.
* Other categories offered lucrative opportunities.
* Want to cash in the brand equity.
* Founders want to build scale and exit ?
Does it not make sense for Flipkart to concentrate on books alone and become the best/largest/most profitable online bookstore in the country ? I assume that the founders may be under pressure to grow very fast and give more returns to the " angels " who have invested in the venture ( its my assumption !).
I am not going to predict the future of Flipkart as an ordinary store. But in a branding point of view, Flipkart will be diluting its current stature as a highly efficient online bookstore. Thus leaving its exclusive space to potential competitors.
I wish that the brand replicate its success in the current ' diluted ' avatar.
The Art of Curation in Three Simple Steps
1. Identify
The first step in content curation is identifying the information that is most relevant and valuable for customers. Research shows that people are more apt to click on a news article they agree with than one they disagree with: 58% of the time vs. 43%. Offering information that the target audience agrees with and is looking for will ensure they become frequent visitors of the company's content channels.
Some key questions to ask yourself when identifying relevant material:
* On what topic do you want to be the go-to authority? Identify a critical and specific topic that your customers what to hear from you about every single day. Make sure that you can be a trusted and unique resource on this topic without having to compete with other online resources.
* Who are the topic sources and influencers on this topic? Identify the key sources and influencers for your topic. You can then follow these outlets for their insights via email, Twitter, news feeds, or otherwise and selectively pick the best content for your curation strategy.
* What can you leave out? The tendency is to want to include too much, which can overwhelm your audience and drown out your own message. As a curator, focus on the 5-10 most relevant articles, posts, and tweets daily.
2. Organize
The next step is to organize the information so that customers can easily consume that content. As you build a rich library of relevant content, the need to organize and structure that content will grow; therefore it's best to organize your content as an integral part of your curation practice.
A few aspects to consider when organizing your curated content:
* How do I segment my content? All your customers may not be interested in all your curated content. If possible, you should categorize your content along the lines of your customer base. For example, if your technology is used both by cardiologists and by ophthalmologists, categorize your content accordingly so that your customers can easily get to the most relevant content quickly and directly.
* Where should I archive this information? If you curate items every day, then in a year you will have several thousand pieces of content. As a curator, you should not lose this rich repository that you have built up. Give that content a home in public form—whether your corporate blog or a dedicated microsite. This repository can enhance your search visibility and your stature as a trusted resource.
3. Share
This is the easiest aspect of the curating role, because the information has already been selected and organized. To share effectively, you will need to think through the following:
* How often should I share? Just as with a good friend, sharing needs to happen regularly. If you do not share content regularly enough, you will not be considered a reliable source for your key topic.
* How should I share? You can share your content through a website or blog, social media channels, or email newsletters. Whatever you decide, consider your audience and how they consume content.
The first step in content curation is identifying the information that is most relevant and valuable for customers. Research shows that people are more apt to click on a news article they agree with than one they disagree with: 58% of the time vs. 43%. Offering information that the target audience agrees with and is looking for will ensure they become frequent visitors of the company's content channels.
Some key questions to ask yourself when identifying relevant material:
* On what topic do you want to be the go-to authority? Identify a critical and specific topic that your customers what to hear from you about every single day. Make sure that you can be a trusted and unique resource on this topic without having to compete with other online resources.
* Who are the topic sources and influencers on this topic? Identify the key sources and influencers for your topic. You can then follow these outlets for their insights via email, Twitter, news feeds, or otherwise and selectively pick the best content for your curation strategy.
* What can you leave out? The tendency is to want to include too much, which can overwhelm your audience and drown out your own message. As a curator, focus on the 5-10 most relevant articles, posts, and tweets daily.
2. Organize
The next step is to organize the information so that customers can easily consume that content. As you build a rich library of relevant content, the need to organize and structure that content will grow; therefore it's best to organize your content as an integral part of your curation practice.
A few aspects to consider when organizing your curated content:
* How do I segment my content? All your customers may not be interested in all your curated content. If possible, you should categorize your content along the lines of your customer base. For example, if your technology is used both by cardiologists and by ophthalmologists, categorize your content accordingly so that your customers can easily get to the most relevant content quickly and directly.
* Where should I archive this information? If you curate items every day, then in a year you will have several thousand pieces of content. As a curator, you should not lose this rich repository that you have built up. Give that content a home in public form—whether your corporate blog or a dedicated microsite. This repository can enhance your search visibility and your stature as a trusted resource.
3. Share
This is the easiest aspect of the curating role, because the information has already been selected and organized. To share effectively, you will need to think through the following:
* How often should I share? Just as with a good friend, sharing needs to happen regularly. If you do not share content regularly enough, you will not be considered a reliable source for your key topic.
* How should I share? You can share your content through a website or blog, social media channels, or email newsletters. Whatever you decide, consider your audience and how they consume content.
Engage Your Customers in Three Simple Steps
Recently, the AP Stylebook updated its guidelines to reflect the evolution of social media: For example, "fan," "friend," and "follow" can all be used both as nouns and as verbs. A decade ago, those words might have sounded completely foreign if used as they are today.
The widespread adoption of the Internet has forever changed the way we communicate as brands, companies, and people. In the age of social media, it's no longer just about communicating; it's also about interacting.
Most marketers are eager to achieve a level of engagement with current and prospective customers, but the majority stop dead in their tracks when they consider this question: Where am I going to find the time to develop all the content necessary to do it?
I am going to let you in on a little secret: Engaging customers online does not have to be difficult. In fact, sharing information with the appropriate group does not need to be daunting or time consuming—if the way information is selected and shared is effective.
The widespread adoption of the Internet has forever changed the way we communicate as brands, companies, and people. In the age of social media, it's no longer just about communicating; it's also about interacting.
Most marketers are eager to achieve a level of engagement with current and prospective customers, but the majority stop dead in their tracks when they consider this question: Where am I going to find the time to develop all the content necessary to do it?
I am going to let you in on a little secret: Engaging customers online does not have to be difficult. In fact, sharing information with the appropriate group does not need to be daunting or time consuming—if the way information is selected and shared is effective.
Thursday, July 8, 2010
Types of marketing research
Marketing research, as a sub-set aspect of marketing activities, can be divided into the following parts:
* Primary research (also known as field research), which involves the conduction and compilation of research for the purpose it was intended.
* Secondary research (also referred to as desk research), is initially conducted for one purpose, but often used to support another purpose or end goal.
By these definitions, an example of primary research would be market research conducted into health foods, which is used solely to ascertain the needs/wants of the target market for health foods. Secondary research, again according to the above definition, would be research pertaining to health foods, but used by a firm wishing to develop an unrelated product.
Primary research is often expensive to prepare, collect and interpret from data to information. Nonetheless, while secondary research is relatively inexpensive, it often can become outdated and outmoded, given it is used for a purpose other than for which is was intended. Primary research can also be broken down into quantitative research and qualitative research, which as the labels suggest, pertain to numerical and non-numerical research methods, techniques. The appropriateness of each mode of research depends on whether data can be quantified (quantitative research), or whether subjective, non-numeric or abstract concepts are required to be studied (qualitative research).
There also exists additional modes of marketing research, which are:
* Exploratory research, pertaining to research that investigates an assumption.
* Descriptive research, which as the label suggests, describes "what is".
* Predictive research, meaning research conducted to predict a future occurrence.
* Conclusive research, for the purpose of deriving a conclusion via a research process.
* Primary research (also known as field research), which involves the conduction and compilation of research for the purpose it was intended.
* Secondary research (also referred to as desk research), is initially conducted for one purpose, but often used to support another purpose or end goal.
By these definitions, an example of primary research would be market research conducted into health foods, which is used solely to ascertain the needs/wants of the target market for health foods. Secondary research, again according to the above definition, would be research pertaining to health foods, but used by a firm wishing to develop an unrelated product.
Primary research is often expensive to prepare, collect and interpret from data to information. Nonetheless, while secondary research is relatively inexpensive, it often can become outdated and outmoded, given it is used for a purpose other than for which is was intended. Primary research can also be broken down into quantitative research and qualitative research, which as the labels suggest, pertain to numerical and non-numerical research methods, techniques. The appropriateness of each mode of research depends on whether data can be quantified (quantitative research), or whether subjective, non-numeric or abstract concepts are required to be studied (qualitative research).
There also exists additional modes of marketing research, which are:
* Exploratory research, pertaining to research that investigates an assumption.
* Descriptive research, which as the label suggests, describes "what is".
* Predictive research, meaning research conducted to predict a future occurrence.
* Conclusive research, for the purpose of deriving a conclusion via a research process.
Market segmentation
Market segmentation pertains to the division of a market of consumers into persons with similar needs and wants. As an example, if using Kellogg's cereals in this instance, Frosties are marketed to children. Crunchy Nut Cornflakes are marketed to adults. Both goods aforementioned denote two products which are marketed to two distinct groups of persons, both with like needs, traits, and wants.
The purpose for market segmentation is conducted for two main issues. First, a segmentation allows a better allocation of a firm's finite resources. A firm only possesses a certain amount of resources. Accordingly, it must make choices (and appreciate the related costs) in servicing specific groups of consumers. Furthermore the diversified tastes of the contemporary Western consumers can be served better. With more diversity in the tastes of modern consumers, firms are taking note of the benefit of servicing a multiplicity of new markets.
Market segmentation can be defined in terms of the STP acronym, meaning Segment, Target and Position.
The purpose for market segmentation is conducted for two main issues. First, a segmentation allows a better allocation of a firm's finite resources. A firm only possesses a certain amount of resources. Accordingly, it must make choices (and appreciate the related costs) in servicing specific groups of consumers. Furthermore the diversified tastes of the contemporary Western consumers can be served better. With more diversity in the tastes of modern consumers, firms are taking note of the benefit of servicing a multiplicity of new markets.
Market segmentation can be defined in terms of the STP acronym, meaning Segment, Target and Position.
Marketing research
Marketing research involves conducting research to support marketing activities, and the statistical interpretation of data into information. This information is then used by managers to plan marketing activities, gauge the nature of a firm's marketing environment and attain information from suppliers. Marketing researchers use statistical methods such as quantitative research, qualitative research, hypothesis tests, Chi-squared tests, linear regression, correlations, frequency distributions, poisson distributions, binomial distributions, etc. to interpret their findings and convert data into information. The marketing research process spans a number of stages including the definition of a problem, development of a research plan, collecting and interpretation of data and disseminating information formally in form of a report. The task of marketing research is to provide management with relevant, accurate, reliable, valid, and current information.
A distinction should be made between marketing research and market research. Market research pertains to research in a given market. As an example, a firm may conduct research in a target market, after selecting a suitable market segment. In contrast, marketing research relates to all research conducted within marketing. Thus, market research is a subset of marketing research.
A distinction should be made between marketing research and market research. Market research pertains to research in a given market. As an example, a firm may conduct research in a target market, after selecting a suitable market segment. In contrast, marketing research relates to all research conducted within marketing. Thus, market research is a subset of marketing research.
Organizational orientation
In this sense, a firm's marketing department is often seen as of prime importance within the functional level of an organization. Information from an organization's marketing department would be used to guide the actions of other departments within the firm. As an example, a marketing department could ascertain (via marketing research) that consumers desired a new type of product, or a new usage for an existing product. With this in mind, the marketing department would inform the R&D department to create a prototype of a product/service based on consumers' new desires.
The production department would then start to manufacture the product, while the marketing department would focus on the promotion, distribution, pricing, etc. of the product. Additionally, a firm's finance department would be consulted, with respect to securing appropriate funding for the development, production and promotion of the product. Inter-departmental conflicts may occur, should a firm adhere to the marketing orientation. Production may oppose the installation, support and servicing of new capital stock, which may be needed to manufacture a new product. Finance may oppose the required capital expenditure, since it could undermine a healthy cash flow for the organization.
The production department would then start to manufacture the product, while the marketing department would focus on the promotion, distribution, pricing, etc. of the product. Additionally, a firm's finance department would be consulted, with respect to securing appropriate funding for the development, production and promotion of the product. Inter-departmental conflicts may occur, should a firm adhere to the marketing orientation. Production may oppose the installation, support and servicing of new capital stock, which may be needed to manufacture a new product. Finance may oppose the required capital expenditure, since it could undermine a healthy cash flow for the organization.
Customer orientation
A firm in the market economy survives by producing goods that persons are willing and able to buy. Consequently, ascertaining consumer demand is vital for a firm's future viability and even existence as a going concern. Many companies today have a customer focus (or market orientation). This implies that the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes and the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this approach is that there is no point spending R&D funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is known as SIVA (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus. The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, placement, promotion) of marketing management.
Product → Solution
Promotion → Information
Price → Value
Placement → Access
If any of the 4Ps had a problem or were not there in the marketing factor of the business, the business could be in trouble and so other companies may appear in the surroundings of the company, so the consumer demand on its products will become less.
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this approach is that there is no point spending R&D funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is known as SIVA (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus. The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, placement, promotion) of marketing management.
Product → Solution
Promotion → Information
Price → Value
Placement → Access
If any of the 4Ps had a problem or were not there in the marketing factor of the business, the business could be in trouble and so other companies may appear in the surroundings of the company, so the consumer demand on its products will become less.
Marketing-Further definitions
Marketing is defined by the American Marketing Association (AMA) as "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." The term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. Seen from a systems point of view, sales process engineering views marketing as "a set of processes that are interconnected and interdependent with other functions, whose methods can be improved using a variety of relatively new approaches."
The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably." A different concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value. In this context, marketing is defined as "the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage.
Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. However, because the academic study of marketing makes extensive use of social sciences, psychology, sociology, mathematics, economics, anthropology and neuroscience, the profession is now widely recognized as a science, allowing numerous universities to offer Master-of-Science (MSc) programmes. The overall process starts with marketing research and goes through market segmentation, business planning and execution, ending with pre and post-sales promotional activities. It is also related to many of the creative arts. The marketing literature is also adept at re-inventing itself and its vocabulary according to the times and the culture.
The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably." A different concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value. In this context, marketing is defined as "the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage.
Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. However, because the academic study of marketing makes extensive use of social sciences, psychology, sociology, mathematics, economics, anthropology and neuroscience, the profession is now widely recognized as a science, allowing numerous universities to offer Master-of-Science (MSc) programmes. The overall process starts with marketing research and goes through market segmentation, business planning and execution, ending with pre and post-sales promotional activities. It is also related to many of the creative arts. The marketing literature is also adept at re-inventing itself and its vocabulary according to the times and the culture.
Marketing-relationships
Marketing is the process by which companies create customer interest in products or services. It generates the strategy that underlies sales techniques, business communication, and business development. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.
Marketing is used to identify the customer, to keep the customer, and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. Marketing evolved to meet the stasis in developing new markets caused by mature markets and overcapacities in the last 2-3 centuries.[citation needed] The adoption of marketing strategies requires businesses to shift their focus from production to the perceived needs and wants of their customers as the means of staying profitable.
The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.
Marketing is used to identify the customer, to keep the customer, and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. Marketing evolved to meet the stasis in developing new markets caused by mature markets and overcapacities in the last 2-3 centuries.[citation needed] The adoption of marketing strategies requires businesses to shift their focus from production to the perceived needs and wants of their customers as the means of staying profitable.
The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.
Nonprofit
Field Guide to Nonprofit Program Design, Marketing and Evaluation
by Carter McNamara, published by Authenticity Consulting, LLC. There are few books, if any, that explain how to carefully plan, organize, develop and market a nonprofit program. Also, too many books completely separate the highly integrated activities of planning, marketing and evaluating programs. This book integrates all three into a comprehensive, straightforward approach that anyone can follow in order to provide high-quality programs with strong appeal to funders. Includes many online forms that can be downloaded. Many materials in this Library topic are adapted from this book.
by Carter McNamara, published by Authenticity Consulting, LLC. There are few books, if any, that explain how to carefully plan, organize, develop and market a nonprofit program. Also, too many books completely separate the highly integrated activities of planning, marketing and evaluating programs. This book integrates all three into a comprehensive, straightforward approach that anyone can follow in order to provide high-quality programs with strong appeal to funders. Includes many online forms that can be downloaded. Many materials in this Library topic are adapted from this book.
Competitive Intelligence
The following books are recommended because of their highly practical nature and often because they include a wide range of information about this Library topic. To get more information about each book, just hover your cursor over the image of the book. A "bubble" of information will be displayed. You can click on the title of the book in that bubble to get more information, too.
Note to nonprofits: Nonprofits "compete" with other nonprofits, too. They compete for funding, attention from their communities and for staff. Also, funders often want to see if their grantees have closely considered whether other nonprofits are already offering the same services in the same areas. So nonprofits should use competitive intelligence, too.
Note to nonprofits: Nonprofits "compete" with other nonprofits, too. They compete for funding, attention from their communities and for staff. Also, funders often want to see if their grantees have closely considered whether other nonprofits are already offering the same services in the same areas. So nonprofits should use competitive intelligence, too.
Sections
Basics and Planning
Basics of Marketing
Market Planning
Inbound Marketing
Marketing Research (tools & methods to examine markets, their needs, competitors, etc.)
Competitive Analysis
Pricing
Positioning (including writing your positioning statement)
Naming and Branding
Outbound Marketing
Advertising and Promotions
Public and Media Relations
Sales
Customer Service
Customer Satisfaction
Social Networking
Protecting Ownership of Your Products/Services
Intellectual Property
Evaluating Your Marketing Efforts
Measuring Results of Advertising
7 Ways to Evaluate Your Marketing Program
Planning and Evaluating Internet Marketing Program
Measuring the Effectiveness of Your Advertising
Basics of Marketing
Market Planning
Inbound Marketing
Marketing Research (tools & methods to examine markets, their needs, competitors, etc.)
Competitive Analysis
Pricing
Positioning (including writing your positioning statement)
Naming and Branding
Outbound Marketing
Advertising and Promotions
Public and Media Relations
Sales
Customer Service
Customer Satisfaction
Social Networking
Protecting Ownership of Your Products/Services
Intellectual Property
Evaluating Your Marketing Efforts
Measuring Results of Advertising
7 Ways to Evaluate Your Marketing Program
Planning and Evaluating Internet Marketing Program
Measuring the Effectiveness of Your Advertising
Inbound Marketing
1. What specific groups of potential customers/clients (markets) might have which specific needs (nonprofits often already have a very clear community need in mind when starting out with a new program -- however, the emerging practice of nonprofit business development, or earned income development, often starts by researching a broad group of clients to identify new opportunities for programs)
2. How those needs might be met for each group (or target market), which suggests how a product might be designed to meet the need (nonprofits might think in terms of outcomes, or changes, to accomplish among the groups of clients in order to meet the needs)
3. How each of the target markets might choose to access the product, etc. (its "packaging")
4. How much the customers/clients might be willing pay and how (pricing analysis)
5. Who the competitors are (competitor analysis)
6. How to design and describe the product such that customers/clients will buy from the organization, rather than from its competitors (its unique value proposition)
7. How the product should be identified -- its personality -- to be most identifiable (its naming and branding)
2. How those needs might be met for each group (or target market), which suggests how a product might be designed to meet the need (nonprofits might think in terms of outcomes, or changes, to accomplish among the groups of clients in order to meet the needs)
3. How each of the target markets might choose to access the product, etc. (its "packaging")
4. How much the customers/clients might be willing pay and how (pricing analysis)
5. Who the competitors are (competitor analysis)
6. How to design and describe the product such that customers/clients will buy from the organization, rather than from its competitors (its unique value proposition)
7. How the product should be identified -- its personality -- to be most identifiable (its naming and branding)
Outbound Marketing
1. Advertising and promotions (focused on the product)
2. Sales
3. Public and media relations (focused on the entire organization)
4. Customer service
5. Customer satisfaction
Too often, people jump right to the outbound marketing. As a result, they often end up trying to push products onto people who really don't want the products at all. Effective inbound marketing often results in much more effective -- and less difficult -- outbound marketing and sales.
2. Sales
3. Public and media relations (focused on the entire organization)
4. Customer service
5. Customer satisfaction
Too often, people jump right to the outbound marketing. As a result, they often end up trying to push products onto people who really don't want the products at all. Effective inbound marketing often results in much more effective -- and less difficult -- outbound marketing and sales.
"Marketing" -- A Commonly Misunderstood Term
Before you learn more about marketing, you should get a basic impression of what marketing is. See What's "Advertising, Marketing, Promotion, Public Relations and Publicity, and Sales?". Basically, you might look at marketing as the wide range of activities involved in making sure that you're continuing to meet the needs of your customers and are getting appropriate value in return. Think about marketing as "inbound" and "outbound" marketing. (In the following, consider "product" to be either a tangible product or a service -- nonprofits often refer to these as "programs".)
Branding
In a discussion with a colleague we began to talk about the importance of the way a company treats their employees and how it affects how they then treat the company's clients. He has seen the truth of this principle in the company that he works for and today that company is experiencing ultimate success.
This conversation reminded me of an article I wrote during an epiphany moment called Internal Branding. Truth is marketing starts from the inside out. It' important to realize that if you try to start on the outside first your endeavor will fail. Branding is not only skin deep it starts with your employees. If they are not reflecting your brand this could be diminishing your marketing efforts. It's important to get your employees involved and behind your brand.
This conversation reminded me of an article I wrote during an epiphany moment called Internal Branding. Truth is marketing starts from the inside out. It' important to realize that if you try to start on the outside first your endeavor will fail. Branding is not only skin deep it starts with your employees. If they are not reflecting your brand this could be diminishing your marketing efforts. It's important to get your employees involved and behind your brand.
Social Media Policy
I'm going to ask that you allow me to step up on my soapbox for a minute this week. When I hear of companies that have suffered from brand sabotage at the hand of an employee or employees it infuriates me. I suppose it's because I've been an entrepreneur most of my career and in that career I have worked hard to help companies establish and build their brands. It's a bit hard to swallow when an employee's video posted on YouTube has the ability to shake a 50 year old brand like Dominos.
The great thing about social media is its transparency and that transparency works well when marketing your brand. Transparency is what consumers crave. They want to like you before buying from you. It's about connection and engagement. The bad thing about social media is that same transparency. Social media transparency has the ability to throw your company in crisis and recovery mode because of an employee's actions.
In today's world of social media It only takes a YouTube video, a Facebook status update, or a misguided Tweet to throw a company into crisis mode. This truth has created fear in the core of companies. They are afraid to delve into social media marketing because what if an employee says the wrong thing or a customer complains? Their biggest fear is that of their own employees. They cringe at the thought of what their employees are posting on Facebook or what photos they are posting on Myspace. Why do you think most human resource departments Google candidates before calling them in for an interview or handing them an official job offer?
You can't stop individuals from participating in social media and truth is you don't want to. Social media is a viable marketing tool that is growing daily. The more you participate the more you can be aware of what's being said about your brand. However, with that being said it's also important to create guidelines and a code of ethics for your employees to follow. They are your brand ambassadors everyday 24/7. Do they understand that? They need to and hopefully they have just as much passion for your brand as you do. A social media policy will help them understand what's expected of them and what you tolerate or don't tolerate in the social media realm.
A good social media policy will be a win-win for both you and your employees. You will know that you are successful in creating your policy if the final draft allows employees the opportunity to be themselves online, but yet at the same time protects your brand.
Do yourself a favor and don't put off creating a social media policy even though it's daunting, you don't want your brand to be the victim of the next public relations disaster. Social media disasters caused by networking sites and employees of companies is happening too often. Learn how to create a social media policy that will protect your company's brand and offer guidelines to your employees.
The great thing about social media is its transparency and that transparency works well when marketing your brand. Transparency is what consumers crave. They want to like you before buying from you. It's about connection and engagement. The bad thing about social media is that same transparency. Social media transparency has the ability to throw your company in crisis and recovery mode because of an employee's actions.
In today's world of social media It only takes a YouTube video, a Facebook status update, or a misguided Tweet to throw a company into crisis mode. This truth has created fear in the core of companies. They are afraid to delve into social media marketing because what if an employee says the wrong thing or a customer complains? Their biggest fear is that of their own employees. They cringe at the thought of what their employees are posting on Facebook or what photos they are posting on Myspace. Why do you think most human resource departments Google candidates before calling them in for an interview or handing them an official job offer?
You can't stop individuals from participating in social media and truth is you don't want to. Social media is a viable marketing tool that is growing daily. The more you participate the more you can be aware of what's being said about your brand. However, with that being said it's also important to create guidelines and a code of ethics for your employees to follow. They are your brand ambassadors everyday 24/7. Do they understand that? They need to and hopefully they have just as much passion for your brand as you do. A social media policy will help them understand what's expected of them and what you tolerate or don't tolerate in the social media realm.
A good social media policy will be a win-win for both you and your employees. You will know that you are successful in creating your policy if the final draft allows employees the opportunity to be themselves online, but yet at the same time protects your brand.
Do yourself a favor and don't put off creating a social media policy even though it's daunting, you don't want your brand to be the victim of the next public relations disaster. Social media disasters caused by networking sites and employees of companies is happening too often. Learn how to create a social media policy that will protect your company's brand and offer guidelines to your employees.
Integrated Marketing
I love when we coin phrases and they become the buzz, but when it really comes down to it a lot of people don't know what's meant by the said phrase. I'm going to pick on one of those phrases today and it's Integrated Marketing.
Our marketing world is shifting that is no secret. Everywhere we look we see something about integrated marketing, but I still see companies that don't embrace that approach. Integrated marketing is the holistic approach to communication in marketing. It's making sure that you are being consistent in your marketing both online and offline. In other words - well it's important.
A few years ago there was a marketing campaign that was launched in my area and I was always amazed that they did not use an integrated approach to gain more bang for their buck. I often use it as an example of how integrated marketing could of worked and creating a user experience that perhaps would have increased the companies overall investment.
Our marketing world is shifting that is no secret. Everywhere we look we see something about integrated marketing, but I still see companies that don't embrace that approach. Integrated marketing is the holistic approach to communication in marketing. It's making sure that you are being consistent in your marketing both online and offline. In other words - well it's important.
A few years ago there was a marketing campaign that was launched in my area and I was always amazed that they did not use an integrated approach to gain more bang for their buck. I often use it as an example of how integrated marketing could of worked and creating a user experience that perhaps would have increased the companies overall investment.
Is everything marketing?
The other day I was having a conversation and someone made the remark that “Some people think everything is marketing!” This, as usual, got my brain thinking…..is everything marketing?
Backing up, you have to have a clear understanding of what marketing is and what marketing is not to make such a judgment. The American Marketing Association defines marketing as:
“Marketing is an organizational function and a set of process for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.”
Now, let’s say you get that definition…and lets even go as far to say that you have some marketing experience and academic marketing background…is everything marketing?
What if you have none of these…what’s your perspective? What’s your view on marketing then and – is everything marketing?
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Is everything marketing?
The other day I was having a conversation and someone made the remark that “Some people think everything is marketing!” This, as usual, got my brain thinking…..is everything marketing?
Backing up, you have to have a clear understanding of what marketing is and what marketing is not to make such a judgment. The American Marketing Association defines marketing as:
“Marketing is an organizational function and a set of process for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.”
Now, let’s say you get that definition…and lets even go as far to say that you have some marketing experience and academic marketing background…is everything marketing?
What if you have none of these…what’s your perspective? What’s your view on marketing then and – is everything marketing?
I ask this question because of one observation I made the other day getting off the metro…
A homeless man stood need the escalator and asked for a quarter. Walking further along, I saw a homeless man sitting, with his cup on the sidewalk as he read a book. And it occurred to me, that the man by the escalator who asked for a quarter is smart – in a marketing way. But, I don’t think many people other metro goers would pick up on this…but this is why I found this man marketing-smart:
1. Place: He picked a prime location, where people are coming and going, so there is higher traffic and a greater chance that someone would give money
2. Price: He asked for a specific amount. If someone asks for money, nothing new. But, this was the first time I had heard a man ask for a specific amount, and I wondered if this saw a better return, a strategy so to speak that he had learned from experience.
So, I ask you…is this marketing? I would say yes. Is everything marketing?
From my perspective, because I’m so entrenched in my marketing world, I might say yes (though realistically and in academia, it is a big, no.) But, I would say that everything might be considered…strategic communication. My undergrad major is strategic communications. I think this might be a better way to approach the question…is everything marketing? No, but everything involves strategy.
This question is similar to other statements like…everyone is selling something or everything comes down to sales. I bet some of our corporate friends and corporate agencies would sure feel like its that way! In regards to how the infamous ‘Double-Ds,’ data and dollars, seem to drive many organizations.
Internet marketing
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The Marketing Concept
After World War II, the variety of products increased and hard selling no longer could be relied upon to generate sales. With increased discretionary income, customers could afford to be selective and buy only those products that precisely met their changing needs, and these needs were not immediately obvious. The key questions became:
* What do customers want?
* Can we develop it while they still want it?
* How can we keep our customers satisfied?
In response to these discerning customers, firms began to adopt the marketing concept, which involves:
* Focusing on customer needs before developing the product
* Aligning all functions of the company to focus on those needs
* Realizing a profit by successfully satisfying customer needs over the long-term
When firms first began to adopt the marketing concept, they typically set up separate marketing departments whose objective it was to satisfy customer needs. Often these departments were sales departments with expanded responsibilities. While this expanded sales department structure can be found in some companies today, many firms have structured themselves into marketing organizations having a company-wide customer focus. Since the entire organization exists to satisfy customer needs, nobody can neglect a customer issue by declaring it a "marketing problem" - everybody must be concerned with customer satisfaction.
The marketing concept relies upon marketing research to define market segments, their size, and their needs. To satisfy those needs, the marketing team makes decisions about the controllable parameters of the marketing mix.
* What do customers want?
* Can we develop it while they still want it?
* How can we keep our customers satisfied?
In response to these discerning customers, firms began to adopt the marketing concept, which involves:
* Focusing on customer needs before developing the product
* Aligning all functions of the company to focus on those needs
* Realizing a profit by successfully satisfying customer needs over the long-term
When firms first began to adopt the marketing concept, they typically set up separate marketing departments whose objective it was to satisfy customer needs. Often these departments were sales departments with expanded responsibilities. While this expanded sales department structure can be found in some companies today, many firms have structured themselves into marketing organizations having a company-wide customer focus. Since the entire organization exists to satisfy customer needs, nobody can neglect a customer issue by declaring it a "marketing problem" - everybody must be concerned with customer satisfaction.
The marketing concept relies upon marketing research to define market segments, their size, and their needs. To satisfy those needs, the marketing team makes decisions about the controllable parameters of the marketing mix.
The Sales Concept
By the early 1930's however, mass production had become commonplace, competition had increased, and there was little unfulfilled demand. Around this time, firms began to practice the sales concept (or selling concept), under which companies not only would produce the products, but also would try to convince customers to buy them through advertising and personal selling. Before producing a product, the key questions were:
- Can we sell the product?
- Can we charge enough for it?
The sales concept paid little attention to whether the product actually was needed; the goal simply was to beat the competition to the sale with little regard to customer satisfaction. Marketing was a function that was performed after the product was developed and produced, and many people came to associate marketing with hard selling. Even today, many people use the word "marketing" when they really mean sales.
The Production Concept
The production concept prevailed from the time of the industrial revolution until the early 1920's. The production concept was the idea that a firm should focus on those products that it could produce most efficiently and that the creation of a supply of low-cost products would in and of itself create the demand for the products. The key questions that a firm would ask before producing a product were:
* Can we produce the product?
* Can we produce enough of it?
At the time, the production concept worked fairly well because the goods that were produced were largely those of basic necessity and there was a relatively high level of unfulfilled demand. Virtually everything that could be produced was sold easily by a sales team whose job it was simply to execute transactions at a price determined by the cost of production. The production concept prevailed into the late 1920's.
* Can we produce the product?
* Can we produce enough of it?
At the time, the production concept worked fairly well because the goods that were produced were largely those of basic necessity and there was a relatively high level of unfulfilled demand. Virtually everything that could be produced was sold easily by a sales team whose job it was simply to execute transactions at a price determined by the cost of production. The production concept prevailed into the late 1920's.
Marketing concept
The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Today most firms have adopted the marketing concept, but this has not always been the case.
In 1776 in The Wealth of Nations, Adam Smith wrote that the needs of producers should be considered only with regard to meeting the needs of consumers. While this philosophy is consistent with the marketing concept, it would not be adopted widely until nearly 200 years later.
To better understand the marketing concept, it is worthwhile to put it in perspective by reviewing other philosophies that once were predominant. While these alternative concepts prevailed during different historical time frames, they are not restricted to those periods and are still practiced by some firms today.
In 1776 in The Wealth of Nations, Adam Smith wrote that the needs of producers should be considered only with regard to meeting the needs of consumers. While this philosophy is consistent with the marketing concept, it would not be adopted widely until nearly 200 years later.
To better understand the marketing concept, it is worthwhile to put it in perspective by reviewing other philosophies that once were predominant. While these alternative concepts prevailed during different historical time frames, they are not restricted to those periods and are still practiced by some firms today.
Limitations of the Marketing Mix Framework
The marketing mix framework was particularly useful in the early days of the marketing concept when physical products represented a larger portion of the economy. Today, with marketing more integrated into organizations and with a wider variety of products and markets, some authors have attempted to extend its usefulness by proposing a fifth P, such as packaging, people, process, etc. Today however, the marketing mix most commonly remains based on the 4 P's. Despite its limitations and perhaps because of its simplicity, the use of this framework remains strong and many marketing textbooks have been organized around it.
Promotion Decisions
In the context of the marketing mix, promotion represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response. Marketing communication decisions include:
* Promotional strategy (push, pull, etc.)
* Advertising
* Personal selling & sales force
* Sales promotions
* Public relations & publicity
* Marketing communications budget
* Promotional strategy (push, pull, etc.)
* Advertising
* Personal selling & sales force
* Sales promotions
* Public relations & publicity
* Marketing communications budget
Product Decisions
The term "product" refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made:
* Brand name
* Functionality
* Styling
* Quality
* Safety
* Packaging
* Repairs and Support
* Warranty
* Accessories and services
Price Decisions
Some examples of pricing decisions to be made include:
* Pricing strategy (skim, penetration, etc.)
* Suggested retail price
* Volume discounts and wholesale pricing
* Cash and early payment discounts
* Seasonal pricing
* Bundling
* Price flexibility
* Price discrimination
Distribution (Place) Decisions
Distribution is about getting the products to the customer. Some examples of distribution decisions include:
* Distribution channels
* Market coverage (inclusive, selective, or exclusive distribution)
* Specific channel members
* Inventory management
* Warehousing
* Distribution centers
* Order processing
* Transportation
* Reverse logistics
* Brand name
* Functionality
* Styling
* Quality
* Safety
* Packaging
* Repairs and Support
* Warranty
* Accessories and services
Price Decisions
Some examples of pricing decisions to be made include:
* Pricing strategy (skim, penetration, etc.)
* Suggested retail price
* Volume discounts and wholesale pricing
* Cash and early payment discounts
* Seasonal pricing
* Bundling
* Price flexibility
* Price discrimination
Distribution (Place) Decisions
Distribution is about getting the products to the customer. Some examples of distribution decisions include:
* Distribution channels
* Market coverage (inclusive, selective, or exclusive distribution)
* Specific channel members
* Inventory management
* Warehousing
* Distribution centers
* Order processing
* Transportation
* Reverse logistics
The Marketing Mix
Marketing decisions generally fall into the following four controllable categories:
* Product
* Price
* Place (distribution)
* Promotion
The term "marketing mix" became popularized after Neil H. Borden published his 1964 article, The Concept of the Marketing Mix. Borden began using the term in his teaching in the late 1940's after James Culliton had described the marketing manager as a "mixer of ingredients". The ingredients in Borden's marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingredients into the four categories that today are known as the 4 P's of marketing.
marketing concept and orientation
It is a fundamental idea of marketing that organisations survive and prosper through meeting the needs and wants of customers. This important perspective is commonly known as the marketing concept.
The marketing concept is about matching a company's capabilities with customer wants. This matching process takes place in what is called the marketing environment.
Businesses do not undertake marketing activities alone. They face threats from competitors, and changes in the political, economic, social and technological environment. All these factors have to be taken into account as a business tries to match its capabilities with the needs and wants of its target customers.
An organisation that adopts the marketing concept accepts the needs of potential customers as the basis for its operations. Success is dependent on satisfying customer needs.
What are customer needs and wants?
A need is a basic requirement that an individual wishes to satisfy.
People have basic needs for food, shelter, affection, esteem and self-development. Many of these needs are created from human biology and the nature of social relationships. Customer needs are, therefore, very broad.
Whilst customer needs are broad, customer wants are usually quite narrow.
A want is a desire for a specific product or service to satisfy the underlying need.
Consider this example:
Consumers need to eat when they are hungry.
What they want to eat and in what kind of environment will vary enormously. For some, eating at McDonalds satisfies the need to meet hunger. For others a microwaved ready-meal meets the need. Some consumers are never satisfied unless their food comes served with a bottle of fine Chardonnay.
Consumer wants are shaped by social and cultural forces, the media and marketing activities of businesses.
This leads onto another important concept - that of customer demand:
Consumer demand is a want for a specific product supported by an ability and willingness to pay for it.
For example, many consumers around the globe want a Mercedes. But relatively few are able and willing to buy one.
Businesses therefore have not only to make products that consumers want, but they also have to make them affordable to a sufficient number to create profitable demand.
Businesses do not create customer needs or the social status in which customer needs are influenced. It is not McDonalds that makes people hungry. However, businesses do try to influence demand by designing products and services that are
• Attractive
• Work well
• Are affordable
• Are available
Businesses also try to communicate the relevant features of their products through advertising and other marketing promotion.
Which leads us finally to an important summary point.
A marketing orientated business is one that which has adopted the marketing concept
The marketing concept is about matching a company's capabilities with customer wants. This matching process takes place in what is called the marketing environment.
Businesses do not undertake marketing activities alone. They face threats from competitors, and changes in the political, economic, social and technological environment. All these factors have to be taken into account as a business tries to match its capabilities with the needs and wants of its target customers.
An organisation that adopts the marketing concept accepts the needs of potential customers as the basis for its operations. Success is dependent on satisfying customer needs.
What are customer needs and wants?
A need is a basic requirement that an individual wishes to satisfy.
People have basic needs for food, shelter, affection, esteem and self-development. Many of these needs are created from human biology and the nature of social relationships. Customer needs are, therefore, very broad.
Whilst customer needs are broad, customer wants are usually quite narrow.
A want is a desire for a specific product or service to satisfy the underlying need.
Consider this example:
Consumers need to eat when they are hungry.
What they want to eat and in what kind of environment will vary enormously. For some, eating at McDonalds satisfies the need to meet hunger. For others a microwaved ready-meal meets the need. Some consumers are never satisfied unless their food comes served with a bottle of fine Chardonnay.
Consumer wants are shaped by social and cultural forces, the media and marketing activities of businesses.
This leads onto another important concept - that of customer demand:
Consumer demand is a want for a specific product supported by an ability and willingness to pay for it.
For example, many consumers around the globe want a Mercedes. But relatively few are able and willing to buy one.
Businesses therefore have not only to make products that consumers want, but they also have to make them affordable to a sufficient number to create profitable demand.
Businesses do not create customer needs or the social status in which customer needs are influenced. It is not McDonalds that makes people hungry. However, businesses do try to influence demand by designing products and services that are
• Attractive
• Work well
• Are affordable
• Are available
Businesses also try to communicate the relevant features of their products through advertising and other marketing promotion.
Which leads us finally to an important summary point.
A marketing orientated business is one that which has adopted the marketing concept
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