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MODULE D
MARKETING MANAGEMENT
S.V.ATREFACULTY,BANK OF INDIA, MANAGEMENT DEVELOPMENT INSTITUTE,CBD BELAPUR, NAVI MIMBAIE-MAIL sva1955@indiatimes.com
MODULE D
MARKETING MANAGEMENT
Introduction to Marketing and Key Concepts Marketing Planning Consumer Behaviour The Art of Customer Service-As Applied to Banking Consumer and Market Segmentation Marketing Research Marketing Mix Competitor Analysis Product Strategy The Concept of Product/Service Delivery Pricing Strategy and its Application in Banking Bank Distribution Strategy Product Strategy Sales Training and HRD in Marketing
3
Introduction to Marketing and Key Conceptsrketing and Key Concepts
Definition Marketing Marketing as a functional Area of Management Marketing as an Overall Business Philosophy
Marketing Concepts The Evolution and the Why of Modern Marketing The Core Concepts of Marketing Marketing Management Company Orientations toward the marketplace (Marketing Concepts)
Difference between Services and Products/Physical Goods Characteristics of Services Definition: Service The Servuction Process
What is Marketing…??
• Selling?
• Advertising?
• Promotions?
• Making products available in stores?
• Maintaining inventories?
All of the above, plus much more!
Marketing = ?Marketing is the process ofplanning ,and executing the conception,pricing,promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals “ American Marketing Association
Simple Marketing SystemSimple Marketing System
Industry(a collection
of sellers)
Market(a collection
of Buyers)
Goods/services
Money
Communication
Information
Marketing = ?Marketing is the sum of all activities that take consumer to a sales outlet.
After that sales takes over.Marketing is all about creating a pull, sales is all about push.
Marketing is all about managing the four P’s –
productprice placepromotion
•What is the difference between Marketing and
Selling ?
Difference Between - Sales & Marketing ? Difference Between - Sales & Marketing ?
• Salestrying to get the customer to want what the company produces
• Marketing trying to get the company produce what the customer wants
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MARKETING PLANNING
Macro-and Micro factors influencing the Market for an Organisation’s Goods and ServicesControllable Marketing Variables and the Macro-Environment Proximate Macro-Environment
Applicability to BankingThe competititive Environment in Banking
Meaning and Importance of Planning in MarketingTraditional PlanningDifference between a Marketing Plan and a Company’s Corporate PlanMarket-oriented Strategic PlanningDifference between Marketing Plan and the Marketing Planning Process
Banking Regulation and its Impact on Marketing Strategies
Strategic PlanningStrategic Planning•Strategic Planning is the managerial process of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities.
Also called Strategic Management Process
All organizations have this
Can be Formal or Informal
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CONSUMER BEHAVIOUR
Consumer Behavior: A directional force The Complexity of Consumer Buying Decisions Needs and Motives Individual Perception Learning and Habit Development
Behaviour Models for Analysing Buyers
The Marshallian Economic Model The Pavlovian learning Model The Freudian Psychoanalytic Model The Veblenian Social Psychological Model
Factors Influencing Consumer Behaviour in Banking
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THE ART OF CUSTOMER SERVICE AS APPLIED TO BANKING
Building Customer Satisfaction through Quality, Service, and Value
Customer Value and Satisfaction Defining Service Quality Managing Quality Delivering Customer Value and Satisfaction: ‘Moments of
Truth’ ‘The Triangle of Service’ Image as a Managed Perception
Customer Relations in Services Marketing
What is a Service ? Defining the Essence
•An act or performance offered by one party to another (performances are intangible, but may involve use of physical products)
•An economic activity that does not result in ownership
•A process that creates benefits by facilitating a desired change in customers themselves, or their physical possessions, or intangible assets
CONSUMER AND MARKET SEGMENTATION
Introduction 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 to Banking Services
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MARKETING RESEARCH
Market 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
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MARKETING MIX
Marketing of Financial Services
Bank Marketing
Marketing Mix
Services Marketing Mix Current Development
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COMPETITIOR ANALYSIS Introduction
Gap Psychiatry – A Structural Methodology
Build a Strategic Planning Knowledge Base
Creating a Sustainable Advantage
Speeds as Strategy
Competitive Strategies
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PRODUCT STRATEGY
Nature of Product Product and Service Elements of Product Mix Product Life Cycle and Product Strategies
Product Analysis New Product Development Branding in Marketing
Role of Brand in Bank Marketing
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THE CONCEPT OF PRODUCT/SERVICE DELIVERY
Process Cycle in Product Development
Packaging and Delivery
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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
22
BANK DISTRIBUTION STRATEGY
Distribution of Financial Services
Barriers
Channels of Distribution for Banks
23
PRODUCT STRATEGY
Introduction
Communication Process
Goals of Communication
Advertising and Sales Promotion
Sales Promotion
Publicity
Internal Communication
Marketing Information Systems (MIS)
Concept of Moments of Truth Customer Care
24
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
EMERGING TRENDS IN CUSTOMER SERVICE
• CUST SERVICE AS A MARKETING TOOL
• INTERNAL CUSTOMERS HRD
QUOTES
•IF YOU BUILD A GREAT EXPERIENCE,
•CUSTOMERS,TELL EACH OTHER
•ABOUT THAT .
•WORD OF MOUTH IS VERY POWERFUL.
Jeff Bezos
QUOTES
• Customers don’t expect you to be perfect
• They do expect you to fix things when they go wrong.
• Donald Porter
QUOTES
•Customer service is awareness of •needs,•problems, •fears and•aspirations.
QUOTES
• Quality in service or product • is not what you• put into it.• It is what the client or customer • gets into it
Peter Drucker
QUOTES
• Our greatest asset
• is the customer.
• Treat each customer
• as if they are the only one!
Laurice Leito
QUOTES
•It takes less effort to keep an old customer satisfied
•than to get a
•new customer interested
Robert Half
QUOTES
• What you give is
• what you get returned i.e.
• the way you handle your employees
• is the way they will handle (manhandle) your customers.
• “E.D.HORRELL”
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