Gurus On Marketing

More documents

Recommendations

Info

Marketing mix checklist – some guidelines PRODUCT • What does your product do and what does it offer? • Do you have a brand and what does it stand for? • Determine quality, design, packaging and presentation. • What are the intangible elements of the product/service? • How can you augment your product. • What other value can you add to core product? PRICE • Consider the level of price – price sensitivity; competitors’ price, discounts. • Assess psychological aspects of price. • What policy you are going to adopt in terms of different categories of buyers? • Integrate pricing policy with other aspects of marketing mix. PLACE • Do you have a website and are you willing to sell on-line? • Direct selling v. selling through distributors. • Consider customer preferences. • Consider logistics – transport, distribution. PROMOTION • What type of promotion you have in mind. • Do you want to advertise via bill posters or radio or newspaper or television? • Is it appropriate to the segment you are addressing? 16 GURUS ON MARKETING
• Consider the promotion budget. • What resources you are willing to allocate. Nowadays some writers emphasise on focusing on marketing mix from the customers’ perspective. The four Ps – product, price, place and promotion is from the perspective of what the supplier does. To consider the marketing mix from the perspective of the customer one needs to consider the customer value, cost to customer, convenience and communication. Selling v. Marketing According to Theodore Levitt 5 , marketing guru: ‘Selling focuses on the needs of the seller, marketing on the needs of the buyer. Selling is preoccupied with the seller’s need to convert his product into cash, marketing with the idea of satisfying the needs of the customer by means of the product and the whole cluster of things associated with creating, delivering and finally consuming it.’ Selling benefits Experts in marketing advocate selling benefits to customers rather than praising the attributes of the product or service. What benefits would customers gain by acquiring the product or service. Market segmentation A market is subdivided into sub-markets known as segments. The heterogeneous market is divided into homogeneous divisions or groups. Marketing segmentation can be done on the basis of geographic, demographic, and socio-psychological factors. ONE THE FUNDAMENTALS OF MARKETING 17
Page 1 and 2: gurus on Marketing Sultan Kermally
Page 3 and 4: GURUS ON MARKETING SULTAN KERMALLY
Page 5 and 6: Dedication This book is dedicated t
Page 7 and 8: Acknowledgements This book would no
Page 9 and 10: About the author Sultan Kermally is
Page 11 and 12: Contents Introduction 1 The relatio
Page 13 and 14: SIX Tom Peters 89 Close to the cust
Page 15 and 16: Introduction Gurus are management t
Page 17 and 18: This book considers the following g
Page 19 and 20: Michael Porter Michael Porter is th
Page 21 and 22: Philip Kotler Philip Kotler is the
Page 23 and 24: Plan of the book The book begins by
Page 25 and 26: ONE The fundamentals of marketing T
Page 27 and 28: Kotler 3 then advocated the importa
Page 29: Characteristics of service They are
Page 33 and 34: For example, if an organisation is
Page 35 and 36: Brand extension Brand extension is
Page 37 and 38: Marketing strategy Marketing strate
Page 39 and 40: According to Warren J. Keegan 11 :
Page 41 and 42: L M N O P Q R S T U V Listen to you
Page 43 and 44: TWO Peter Drucker Peter Drucker is
Page 45 and 46: The thinking was heavily influenced
Page 47 and 48: Where does Peter Drucker come in? S
Page 49 and 50: The customer as the decision-maker
Page 51 and 52: What do marketing gurus and writers
Page 53 and 54: Writers on marketing since Drucker
Page 55 and 56: Some organisations now use very sop
Page 57 and 58: THREE Theodore Levitt On marketing
Page 59 and 60: He put forward four conditions whic
Page 61 and 62: Marketing Myopia was a landmark art
Page 63 and 64: Decline After the maturity stage wh
Page 65 and 66: Nariman Dhalla and Sonia Yuspeh in
Page 67 and 68: Technological advances have resulte
Page 69 and 70: This was Professor Levitt’s semin
Page 71 and 72: FOUR Michael Porter Michael Porter
Page 73 and 74: 4 the bargaining power of buyers, 5
Page 75 and 76: ‘A market signal is any action by
Page 77 and 78: Criticisms of Porter’s Five Force
Page 79 and 80: in the buyer’s value chain, which
Page 81 and 82:
A differentiation strategy This str
Page 83 and 84:
Factors which are likely to make a
Page 85 and 86:
Porter’s key publications • ‘
Page 87 and 88:
FIVE Philip Kotler Kotler on market
Page 89 and 90:
Marketing therefore is a process of
Page 91 and 92:
and there is no further contact. Th
Page 93 and 94:
The marketing plan should pay parti
Page 95 and 96:
Micro perspective Kotler then moves
Page 97 and 98:
Team-oriented approach seems to be
Page 99 and 100:
Kotler’s perspective on strategic
Page 101 and 102:
At the feet of Philip Kotler: Lesso
Page 103 and 104:
SIX Tom Peters In terms of ‘guru
Page 105 and 106:
Peters and Waterman highlight the f
Page 107 and 108:
Closing remarks: A controversy ‘W
Page 109 and 110:
The emphasis is on applying technol
Page 111 and 112:
The pursuit of WOW! • Every job h
Page 113 and 114:
• Invite customers to visit any f
Page 115 and 116:
tices. The patient generally gets w
Page 117 and 118:
Peter’s key publications • Pete
Page 119 and 120:
SEVEN George Day George day is Geof
Page 121 and 122:
These strategies are similar to Por
Page 123 and 124:
You cannot take an internally focus
Page 125 and 126:
KNOWLEDGE@WHARTON Isn’t Ford’s
Page 127 and 128:
ings. These included the high value
Page 129 and 130:
Configuration perspective Day found
Page 131 and 132:
He has published extensively in var
Page 133 and 134:
EIGHT Jagdish Sheth Dr. Jagdish She
Page 135 and 136:
Various studies reinforce the point
Page 137 and 138:
• To create value for clients the
Page 139 and 140:
At the feet of Jagdish Sheth: Lesso
Page 141 and 142:
NINE Thomas T. Nagle Nagle on prici
Page 143 and 144:
• Understanding price sensitivity
Page 145 and 146:
At the feet of Thomas Nagle: Lesson
Page 147 and 148:
TEN Gurus and strategic analytical
Page 149 and 150:
Existing product/new market Here th
Page 151 and 152:
Low growth/high share The strategic
Page 153 and 154:
General Electric Strategic Planning
Page 155 and 156:
Shell Directional Policy Matrix She
Page 157 and 158:
Opportunities In scanning the exter
Page 159 and 160:
The STEP analysis (sometimes known
Page 161 and 162:
STEP factors influence significantl
Page 163 and 164:
Benchmarking According to Philip Ko
Page 165 and 166:
ELEVEN Further information Suggeste
Page 167 and 168:
• Porter, Michael. ‘Competitive
Page 169 and 170:
14 Drucker, Peter, ‘Innovation an
Page 171 and 172:
Blank
Page 173 and 174:
Thorogood publishing Thorogood publ
Page 175 and 176:
Other titles The John Adair handboo
show all

Gurus On Marketing

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?