MARKETINGMANAGEMENT
CAIIB-GBM Module D
byDr. Onkar Nath
Faculty Sir SPBT College, MUMBAI
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 MANAGEMENTA 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.S.No. Physical GoodsPhysical Goods ServicesServices
1.1. TangibleTangible IntangibleIntangible
2.2. HomogeneousHomogeneous HeterogeneousHeterogeneous
3.3. Product and distribution Product and distribution separated from separated from consumptionconsumption
Production, distribution Production, distribution and consumption re and consumption re simultaneous processsimultaneous process
4.4. A thingA thing A activityA activity
5.5. Core value produced in Core value produced in factory factory
Core value produced in Core value produced in buyer-seller interactionbuyer-seller interaction
6.6. Customers do not Customers do not participate in the participate in the production processproduction process
Customers participate in Customers participate in productionproduction
7.7. Can be kept in stockCan be kept in stock Cannot be kept in stockCannot be kept in stock
8.8. Transfer of ownershipTransfer of ownership No transfer of ownershipNo transfer of ownership
Marketing PlanningMacro- and Macro-Factors influencing the market for an organization's goods and services
Controllable Marketing Variables and the Macro-Environment
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 BuyersThe Marshallian Economic ModelThe Pavlovian Learning ModelThe Freudian psychoanalytic ModelThe Veblenian Social Psychological Model
CultureSub-culturesSocial ClassReference GroupsFace-to-Face GroupsParent
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;
Strategy- people 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
? ueries Q