Wednesday, 14 October 2015

deffination of marketing:

marketing is a social process by which individual and groups obtain what they need and want through creating and exchanging products and value with other.
distribution

Distribution Channels

dstribution channels in marketing are one of the classic “4 Ps” (product, promotion, price, placement a.k.a. “distribution”). They’re a key element in your entire marketing strategy — they help you expand your reach and grow revenue.
B2B and B2C companies can sell through a single distribution channel or through multiple channels that may include:

Wholesaler/Distributor
Direct/Internet
Direct/Catalog
Direct/Sales Team
Value-Added Reseller (VAR)
Consultant
Dealer
Retail
Sales Agent/Manufacturer’s Rep

hrm

Brand Value - Definition

05:23 Marketing No comments

With reference to Brand Finance literature, the term "Brand Value" is considered to be the net present value of the estimated future cash flows attributable to the Brand.
Brand Finance use the Royalty Relief (Relief from Royalty) methodology to value a brand, which is described in more detail on the Royalty Relief definition page
Brand Value is also referred to has Brand Equity. A brand can be an intangible asset, used by consultants like Brand Finance to rationalise the variation between a company's "book value" and market value. For example, groundbreaking research conducted by Brand Finance demonstrated that 62% of the world's business is now intangible. This represents $19.5 trillion of $31.6 trillion global market value.
Brand value in the case of consumer product brands can be measured through customer loyalty, staff retention/recruitment. Therefore Brand value can be influenced positively and negatively; with a number of famous examples where Brands have made the right (Intel Inside marketing activity) or wrong decision (New Coke vs the American public).

The 7 Ps of Marketing

05:20 Marketing No comments

The 7 Ps of Marketing

The first four elements in the services marketing mix are the same as those in the traditional marketing mix. However, given the unique nature of services, the implications of these are slightly different in case of services.

Product:

In case of services, the ‘product’ is intangible, heterogeneous and perishable. Moreover, its production and consumption are inseparable. Hence, there is scope for customizing the offering as per customer requirements and the actual customer encounter therefore assumes particular significance. However, too much customization would compromise the standard delivery of the service and adversely affect its quality. Hence particular care has to be taken in designing the service offering.

Pricing:

Pricing of services is tougher than pricing of goods. While the latter can be priced easily by taking into account the raw material costs, in case of services attendant costs - such as labor and overhead costs - also need to be factored in. Thus a restaurant not only has to charge for the cost of the food served but also has to calculate a price for the ambience provided. The final price for the service is then arrived at by including a mark up for an adequate profit margin.

Place:

Since service delivery is concurrent with its production and cannot be stored or transported, the location of the service product assumes importance. Service providers have to give special thought to where the service would be provided. Thus, a fine dine restaurant is better located in a busy, upscale market as against on the outskirts of a city. Similarly, a holiday resort is better situated in the countryside away from the rush and noise of a city.

Promotion:

Since a service offering can be easily replicated promotion becomes crucial in differentiating a service offering in the mind of the consumer. Thus, service providers offering identical services such as airlines or banks and insurance companies invest heavily in advertising their services. This is crucial in attracting customers in a segment where the services providers have nearly identical offerings.

We now look at the 3 new elements of the services marketing mix - people, process and physical evidence - which are unique to the marketing of services.

People:

People are a defining factor in a service delivery process, since a service is inseparable from the person providing it. Thus, a restaurant is known as much for its food as for the service provided by its staff. The same is true of banks and department stores. Consequently, customer service training for staff has become a top priority for many organizations today.

Process:

The process of service delivery is crucial since it ensures that the same standard of service is repeatedly delivered to the customers. Therefore, most companies have a service blue print which provides the details of the service delivery process, often going down to even defining the service script and the greeting phrases to be used by the service staff.

Physical Evidence:

Since services are intangible in nature most service providers strive to incorporate certain tangible elements into their offering to enhance customer experience. Thus, there are hair salons that have well designed waiting areas often with magazines and plush sofas for patrons to read and relax while they await their turn. Similarly, restaurants invest heavily in their interior design and decorations to offer a tangible and unique experience to their guests.

brand value
marketing

Understanding the selling combine thought – 4Ps

05:11 Marketing No comments

Understanding the selling combine thought – 4Ps

Marketing is simplistically outlined as ‘putting the proper product within the right place, at the proper value, at the proper time.’ although this feels like a simple enough proposition, plenty of exertions and analysis must get into setting this easy definition up. And if even one component is off the mark, a promising product or service will fail utterly and find yourself cost accounting the corporate considerably.

The use of a selling combine is a superb thanks to facilitate make sure that ‘putting the proper product within the right place,…’ can happen. The selling combine could be a crucial tool to assist perceive what the merchandise or service offers and the way to set up for a triple-crown product providing. The selling combine is most ordinarily dead through the four P’s of marketing: value, Product, Promotion, and Place.

These are extensively accessorial to and expanded through further P’s and even a 4C thought. however the 4Ps function a good place to begin coming up with for the merchandise or maybe to judge Associate in Nursing existing product providing.

marketing mix.com

THE FOUR P’S

Product

The product is either a tangible sensible or associate degree intangible service that's appear to satisfy a particular client would like or demand. All product follow a logical product life cycle and it's important for marketers to grasp and set up for the varied stages and their distinctive challenges. it's key to grasp those issues that the merchandise is making an attempt to resolve. the advantages offered by the merchandise and every one its options got to be understood and therefore the distinctive commerce proposition of the merchandise got to be studied. additionally, the potential patrons of the merchandise got to be known and understood.

Price

Price covers the particular quantity the tip user is predicted to buy a product. however a product is priced can directly have an effect on however it sells. this is often coupled to what the perceived worth of the merchandise is to the client instead of associate degree objective cost accounting of the merchandise on supply. If a product is priced higher or less than its perceived worth, then it'll not sell. this is often why it's imperative to grasp however a client sees what you're commerce. If there's a positive client worth, than a product is also with success priced on top of its objective cost. Conversely, if a product has very little worth within the eyes of the patron, then it should got to be underpriced to sell. worth might also be laid low with distribution plans, worth chain prices and markups and the way competitors worth a rival product.

Promotion

The promoting communication ways and techniques all represent the promotion heading. These might embody advertising, ads, special offers and promotion. regardless of the channel used, it's necessary for it to be appropriate for the merchandise, the worth and therefore the user it's being marketed to. it's necessary to differentiate between promoting and promotion. Promotion is simply the communication facet of the whole promoting perform.

Place

Place or placement has got to do with however the merchandise are provided to the client. Distribution may be a key part of placement. the position strategy can facilitate assess what channel is that the most suited to a product. however a product is accessed by the tip user additionally must compliment the remainder of the merchandise strategy.

marketing 7p's
brand value
distribution of markting

The Marketing Mix and the 4Ps of Marketing

06:07 Marketing No comments