1. MARKETING AN INNOVATIVE ART Presented by Group 4

2. Critical Business Function Marketing is the Connection Marketing satisfies these needs and wants Customer Satisfaction Marketing is an Art Marketing is the Science of choosing Target Markets 3. MARKETING RESEARCH 4. First step of Marketing Information is used by managers Marketing researchers use statistical methods 5. PROCESS OF MARKETING RESEARCH Detection of matter Development of a research plan Collection of Data Interpretation of Data Disseminating information formally in the form of a report 6. BRAND 7. WHAT IS BRAND ? BRAND is the name, term, design, symbol, or any other feature that identifies one seller's product distinct from those of other sellersBRAND ELEMENT o Name o Logo o Tagline o Graphics o Shapes o Colours o Sounds o Tastes o Movements 8. BRAND EQUITY BRAND EQUITY is the value of the brand name Brand is one of the most valuable asset of the companyFACT- Apple is the worlds top brand having worth of US$ 185017 Million It gives loyal customers Secures sale even in cut throat competition 9. BRAND PROMOTION Companies try to increase the value of brand through brand promotion Companies take up various ways to create a good will for their brand Eg: Ad campaign by TATA Tea Jago re Brand promotion gives room to innovative ideas 10. PRICING Pricing is the process of determining what a company will receive in exchange for its products. Pricing factors are manufacturing cost, market place, competition, market condition, and quality of product. 11. ESSENTIALS FOR PRICING A PRODUCT A well chosen price should do three things: Achieve the financial goals of the company Fit the realities of the marketplace Support a product's positioning and be consistent with the other variables in the marketing mix 12. TYPES OF PRICING METHODS: COST PLUS METHOD VARIABLE METHOD SKIMMING METHOD 13. COST PLUS PRICING METHOD Cost-plus pricing is a pricing method used by companies to maximize their rate of returns. The firms accomplish their objective of profit maximization by increasing their production until marginal revenue equals marginal cost. Cost-plus pricing, also known as markup pricing. It is a way for companies to calculate how much profit they will make 14. VARIABLE PRICE METHOD Variable pricing is a form of pricing of products or services as distinct from a fixed price. Traditional examples include auctions, bargaining, discounts, pric e skimming, penetration pricing and 'price shading' Stock markets and foreign exchange markets are based in variable pricing 15. SKIMMING PRICE METHOD Price skimming is a product pricing strategy by which a firm charges the highest initial price that customers will pay. As the demand of the first customers is satisfied, the firm lowers the price to attract anotherTherefore, the skimming strategy gets its name from skimming successive layers of "cream," or customer segments, as prices are lowered over time 16. PUBLICITY 17. Publicity is an attempt to manage the public's perception of a subject Subjects of publicity Media Attention 18. PUBLICIST Generate and manage publicity for a product Marketing arm of a company Persuade the Press 19. PROMOTIONAL TACTICS Art Exhibitions Event Sponsorship Take a stand on a Controversial Subject 20. PRODUCT DISTRIBUTION Product distribution (or place) is one of the four elements of the marketing mix Distribution is the process of making a product or service available for use or consumption by a consumer. The other three parts of the marketing mix are place, pricing, and promotion A product distribution is a probability distribution constructed as the distribution of the product of random variables having two other known distributions 21. ALGEBRA OF RANDOM VARIABLES The product is one type of algebra for random variables. It is related to the product distribution. More generally, one may talk of combinations of sums, differences, products and ratios. Many of these distributions are described in Melvin D. Springer's book from 1979 The Algebra of Random Variables 22. .HOW PRODUCT DISTRIBUTION IS DERIVATED? (DERIVATION) A way of deriving the product distribution of Z from the joint distribution of the two other random variables, X and Y, is by integration of the following form 23. ADVERTISEMENT 24. WHAT IS ADVERTISING? the ofapction ofublic..c s allingomething to theattention 25. DEFINITION Advertising is any form of paid non-personal presentation of ideas, goods, or services for the purpose of inducing people to buy 26. FUNCTIONS To differentiate the product from their competitors. To communicate product information. To urge product used. To expand the product distribution. To increase brand preference and loyalty. To reduce overall sales cost. Creates new demands. 27. WHO NEEDS ADVERTISING? Companies use advertising to: inform people about their products and services. to make their Brand names familiar to the public. 28. TYPES Outdoor AdvertisingPrint AdvertisingBroadcast AdvertisingCelebrity AdvertisingADVERTISING Covert Advertising Public-service AdvertisingSurrogate Advertising 29. How does advertising work? Awareness Interest Desire Action 30. CREATING A DEMAND OF PRODUCT THROUGH ADVERTISEMENT 31. SALES PROMOTION 32. MEANINGSales promotion is a marketing technique designed to create sales for a product over a defined period of time. The results of sales promotion activities are measurable in terms of number of units sold 33. OBJECTIVES OF SALES PROMOTION To introduce new products or services To attract new customers To induce existing customers to buy more Helps the firm to remain competition To increase sales in off-seasons To add to the stock of the dealers 34. TYPES OF SALES PROMOTION ConsumerSales Promotion Trade 35. CONSUMER PROMOTION Directed at ultimate consumerConsumer oriented initiative Main focus on saleVariety of techniques 36. CONTEST 37. LUCKY DRAW 38. COUPONS 39. DISCOUNT & OFFER 40. SAMPLING 41. TRADE PROMOTION Directed at wholesalers and retailers Motivate to sell more Create excitement about the product Create sound relationship between company and resellers Expand distribution Push resellers to excel the sales 42. RETAILERS KIT 43. TRADE INCENTIVE 76VOLUME OF SALE543210 Qrt 1Qrt 2Qrt 3TIME OF YEARQrt 4 44. TRADE SHOW 45. INNOVATIONS Antarctica Beer engaged with Turnstile Beer bottle served as free train ticket during Rio carnival Super high results- 86% growth involume sales and 46% drop in drink driving 46. Chennai Express started pre booking Purposely added song based on Rajni 47. Collaboration with concerts, stars and other celebrities. Coles a retail store brand collaboratedwith One Direction a band On purchase of selected 600 products from Coles store customers havechance of winning free concert passes 48. BJP is about to launch a scheme where first 500 people to enrol maximum people in BJP will get opportunity to meet the Indian Iron Man Shree Narendra Modi 49. IMORTANCE OF PUBLIC REALTION IT IS LOW-COST AS COMPARED TO ANY OTHER WAY OF PUBLICITY IT IMPROVES THE REPUTATION OF AN INDIVIDUAL DEPARTMENT IT MAINTAINS IMAGE AND REALTION WITH PUBLIC IT MAINTAINS COMMUNICATION BETWEEN ORGANISATION TO KNOW THE NEED AND NECESSITY OF PUBLIC 50. IMPROVING PERSONAL PUBLIC RELATION MANY SUCCESSFUL PEOPLE HAVE ONE THING IN COMMON IDENTIFY THE TOPICS YOU WISH TO SPEAK ON TARGER AUDIENCES TO COMMUNICATE PRACTICE TECHNIQUES SPEAKING OPPORTUNITS TO PUBLIC DEVELOP MEDIA INTERVIEWS IDENTIFY ALL THE OUTLETS THAT ARE MOST INTERESTED DEVELOP A REPORT WITH THE OTHER CONTENT PROVIDERS 51. TO CREATE TRUST AMONG THE PUBLIC ONE OF THE MOST CRITICAL THING IN MARKETING TO BUILD THE TRUST MOST IMPORTANT THING TO BE DONE ARE ONE MUST BE THOUGHTFUL COHERENT PROACTIVE WITH PUBLIC RELATION CAMPAIGN 52. ULTIMATE AIMS OF PUBLIC RELATIONS TO DEVELOP A FAVORABLE PUBLIC IMAGE TO CREATE RELATIONSHIP AND COMMUNICATION WITH CUSTOMERS, SUPPLIERS, MEDIA, SOCIETY SHAREHOLDHERS, MEDIA, EMPLOYEE AND VARIOUS SECTION 53. CONCLUSION After doing this project we have learned that Marketing is indeed an innovative art as it has so much of room to put in innovative ideas and think of creative ways to achieve the goals. Marketing is not like other departments of an organisation where you need to work in same old fashion, rather it promotes change and new ideas. We have studied the part and parcel of Marketing such as Brand, Public relation, Sales promotion, etc. It was amazing to know how Marketing plays an important role in any corporate institution. We hope that we have served the topic well