Download Dr. Onkar Nath Faculty Sir SPBT College, MUMBAI

MARKETING
MANAGEMENT
CAIIB-GBM
Module D
by
Dr. Onkar Nath
MARKETING CONCEPT
A situation where buyers and sellers of a
commodity interact.
Coming together of buyers and sellers of the
same or similar commodities
MARKETING
Marketing is the process of determining
consumer demand for a product or service,
motivating its sale and distributing it into ultimate
consumption at a profit
EVOLUTION OF MODERN MARKETING
Barter System
Industrial revolution
Digital revolution
Customer and market driven
Wants of customers
CRM
Customer Satisfaction
Nothing is worthwhile unless it touches the
customer
The Core Concepts of Marketing
Needs, wants and demands
Products (Goods, Services, and Ideas)
Value, Cost and Satisfaction
Exchange and transactions
Relationship and Networks
Marketers and Prospects
MARKETING MANAGEMENT
A process of planning and executing the conception,
pricing , promotion and distribution of goods and
services and ides to create exchanges with target
groups that satisfy customer and organizational
objectives.
Processes involved
Analysis, planning, implementation, and control;
Covers goods, services, and Ideas;
Rests on the notion of exchange; and
Goal is to produce satisfaction for the parties
involved
Company Orientation towards the
Marketplace (Marketing Concepts)
• Production Concepts/Orientation
• Product Concept/Orientation
• Selling Concept/Orientation
• Marketing Concept/Orientation
• Societal Marketing Concept
SERVICE
A service is any act or performance that one party can
offer to another that is essentially intangible and does
not result in the ownership of anything. It’s production
may or may not be tied to physical product.
CHARACTERISTICS OF SERVICES
Intangibility
Inseparability
Heterogeneity
Perishability
S.No.
1.
2.
3.
4.
5.
6.
7.
8.
Physical Goods
Tangible
Homogeneous
Product and distribution
separated from
consumption
A thing
Core value produced in
factory
Customers do not
participate in the
production process
Can be kept in stock
Transfer of ownership
Services
Intangible
Heterogeneous
Production, distribution
and consumption re
simultaneous process
A activity
Core value produced in
buyer-seller interaction
Customers participate in
production
Cannot be kept in stock
No transfer of ownership
Marketing Planning
Macro- and Macro-Factors influencing the market for an
organization's goods and services
Controllable Marketing Variables and the MacroEnvironment
Demographic Factors
SKIPPIES : School Kids with Income and Purchasing
Power
MOBYS : Mother Older, Baby Younger
DINKS : Dual Income No Kids
DEWKS : Dual Earners With Kind
PUPPIES : Poor Urban Professionals
WOOFS : Well-Off Older Folks
Economic Factors
Natural Factors
Technological factors
Political and Legal factors
Social and Cultural Factors
Proximate Macro-Environment
Competitive Environment
Supplier Environment
Distributive Environment
Scanning and Adaptive to the Environment
Intra-Firm (Micro) Environment
Applicability to Banking
The competition environment in banking
Retail Banking
Technology impact on product/service scenario
The changes in distribution plans
The outsourcing or contracting out of non-core
bank services
Privatization
Globalization
Corporate banking
Insurance
Meaning and importance of planning in
marketing
Traditional planning
Difference between a marketing plan and a
company’s corporate plan
Market-oriented strategic planning
Difference between marketing plan and
marketing planning process
Marketing planning (process)
Marketing plan
Annual-plan control
Banking regulation and its impact on
marketing strategies
Open market operations
Current scenario
Consumer behaviour
Consumer behaviour : A directional Force
The complexity of consumer Buying
Decisions
Needs and Motives
Physiological needs
Safety needs
Social needs
Esteem needs
Self-actualization
Individual Perception
Selective perception
Theory of cognitive dissonance
Learning and Habit development
Habit-breaking
Habit-acquisition
Habit-reinforcement
Behaviour Models for Analyzing Buyers
The Marshallian Economic Model
The Pavlovian Learning Model
The Freudian psychoanalytic Model
The Veblenian Social Psychological Model
Culture
Sub-cultures
Social Class
Reference Groups
Face-to-Face Groups
Parent
Hobbesian Organizational Factors Model
Swinging singles to solitary survivors
Family buying roles
Initiator
Influencer
Decider
Purchaser
User
Factors Influencing Consumer
Behaviour in Banking
Location
Safety
Returns
Customer Service
Range of Services
Easy Documentation and well-defined
Eligibility Criteria
The art of customer service as applied to banking
Building customer satisfaction through quality,
service, and value
Customer Value satisfaction
Defining service quality
Managing Quality
Delivering Customer Value and Satisfaction:
Moments of Truth
Well-conceived strategy for service
Customer-oriented front-line people
Customer-friendly systems
The Triangle Of Service
Customer-service strategy connection
customer-people organization connection
Customer-system connection
Systems-people; Strategy-systems; Strategypeople Connections
Customer Relationship in Services Marketing
Giving Promises: The traditional or External Marketing
Fulfilling Promises: Internal and Interactive Marketing
Customer Care
Consumer and Market Segmentation
Criteria for market segmentation
Meaningful
Measurable
Useful and reachable
Consumer and Market Segmentation
Mass Markets and Segmentation
Types of Consumer Segments
Characteristics of segments
Benefits and Disadvantages of Market
Segmentation
Alternative Strategies
Evaluation
Marketing Segmentation Strategy:
Techniques
Application of Segmentation of Banking
Services
Marketing Research
Marketing research is research all about the
market: its size, composition, structure and so on
Marketing Research Process
Types of data – Primary and Secondary data
Quantitative and Qualitative Research
Methodologies
Time and cost constraints
The major uses of Marketing Research
Marketing Information System
Marketing Mix
Marketing of financial services
Bank marketing
Service marketing mix
Current development
Competitor Analysis
Gap Psychiatry – A structural Methodology
Build a strategic planning knowledge base
Creating a sustainable advantage
Speeds as Strategy
Competitive Strategies
Product Strategy
Nature of product
Product and service
Elements of Product Mix
Product Life Cycle and Product Strategies
Product Analysis
New Product Development
Branding and Marketing
Role of Brand in Bank Marketing
The Concept of Product/Service Delivery
Process Cycle in Product Development
Packaging and Delivery
Pricing Strategy and its Application in
Banking
Pricing for Profitability
Elasticity of demand
Pricing Methods/Strategies
Pricing Decisions
Pricing Concept in Banking
Pricing Review and Committees
Concept of Service Fees
Bank Distribution Strategies
Distribution of Financial Services
Barriers
Channels of Distribution for Banks
Promotion Strategy
Communication Process
Goals of Communication
Advertising and Sales Promotion
Sales Promotion
Publicity
Internal Communication
Marketing Information System (MIS)
Moments of Truth: Customer Care
Sales Training and HRD in Marketing
Proper Attitude Orientation of Staff
Selling Skills Required
Need and Importance of Sales Training
Sales Training and Strategy
Selling process
Impact of Training as HRD Intervention in Marketing
Direct Sales Force
Importance of Quality Service
Public Relation and Institution Image
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