Knowledge in Marketing and Sales
7 Ps of Marketing
The beauty of a market is that it is constantly evolving. The things or services which were once considered a symbol of prosperity and uniqueness are no longer in the picture. So, we would have a look at how 7 P’s are redefining marketing. 1. Product: This category includes the product as well as the service we are offering. All products have a life cycle and the marketer needs to align his/her strategies based on the phase that product is undergoing. With online e-market, a marketer to reach out to a large number of people in the country and target different segments at the same time. Online marketing is the future. The more rapidly the firms align their policies considering online customer base the better it is for them. 2. Price: If you are a new entrant in the market, pricing can help you to gain unique position in the market. When two products offer similar benefits the one with lower price is likely to achieve more sales. The war of P&G’s detergents(Arial, Tide) with HUL’s detergents(Surf Excel, Rin etc.) in the last decade is very good example. 3. Place: Online shopping has eliminated the need to go to the market as you can order a product by sitting in your home. Some points to ponder are: · Where does customer both current and potential, look for services or product? · How do you access the different distribution channels with different strategies? · Which online store should we use to sell our products? 4. Promotion: Online retail giants like Flipkart, Amazon offer a discount on particular days e.g. Big Billion days. So, brands have started to give more discount on these special sales days and promotion occurs on the other hand. Customer also acts a promoter if he likes the brand. 5. People: It has two dimensions: Internal working staff and outside customers. When employees believe in the products or services a firm offers, it’s is highly likely the employees will perform better. Now the firms do look at the lifetime worth of a customer, popularly known as CLV.
OnYourMark- Marketing Club, IIM Kashipur
Drinkable Advertising
Drinkable Advertising History has been a great example of how technological revolutions have always surpassed the expectations of mankind. Be it the invention of cellphones or the advent of laptops, there were many miracles that took place in the course of civilization. However, back in 2015, Coca-Cola reached the ceiling of technological miracles when it came up with the unique way of having a drinkable advertisement. People are able to connect with a brand in a better manner when it has something to offer which others cannot. Advertising by giving the customers a taste of its product 'Coke Zero', Coca-Cola went a step ahead in connecting with its customers. Drinkable billboards, posters, tweets, scans - they left no stone unturned to connect with the people in a totally interesting and novel way! They partnered with Oglivy& Mather to come up with this creativity. Also, Shazam - a widely used application was used to match the water gulp sound frequency and "earn" a free coke! It is indeed commendable how a company can come up with various ways of advertising and branding which not only markets the product but makes one feel special to consume the good. Using technology in advertising is what everyone might do. But to do it differently is what only a few do. Back in 2015, this was definitely a major feat. However, with the upcoming days and improving technological inventions, we never know how competitive the advertising might get! Till then, as Coca-Cola says, “Next time you’re thirsty, drink an ad!” References: http://www.creativeguerrillamarketing.com/guerrilla-marketing/coca-cola-creates-first-ever-drinkable-advertising-campaign/
Three Ways Non-Profit Organisations Can Use Market
Three Ways Non-Profit Organisations Can Use Marketing to Generate Awareness and Donations Non-Profit organisations primarily exist to make a positive change to society. The term “Non-Profit” means their orientation is not towards earning profits, but to fulfil their mission, be it feeding the homeless, providing free education or medical treatment to the needy and so on.[1] They thrive on donations from the people who want to contribute to such causes in monetary terms. Any non-profit organisation faces two main problems: First, how to create awareness about its cause? Second, how to generate donations to fund those causes? In this article, I will suggest three ways Non-Profit Organisation can utilise marketing to generate awareness and donations: i. Create Realistic Campaign: This means create a campaign which is able to depict the cause among target audience in a realistic way. For example, “Worldwide Breast Cancer (WBC)” created a campaign “Know Your Lemons”, a creative representation of breast cancer symptoms in the form of lemons in an egg carton, which went viral when it was shared by a cancer survivor who benefited from this campaign![2] ii. Choose the Relevant Medium: Once a Non-Profit has designed a creative campaign, how will they disseminate it? This can be done by identifying the relevant medium. i.e. a Medium of which your Target Audience is active user. Social Media is a powerful platform to reach out to target audience at a very low cost compared to traditional media (like Print, TV, Radio), which fits into keeping the operating costs at minimum possible for the non-profits. Another benefit of using Social Media is that the “Share” options on different Social Networks like Facebook, Twitter etc., add a viral dimension to it, which aids in spreading information and increasing awareness. iii. Add Persuasive Call-To-Actions Whether a Non-Profit runs its campaign on Traditional Media or Social Media or on both depends entirely on its objectives and budget; but one thing which is essential and sets apart message of one Non-Profit from the other is the usage of appropriate “Call-To-Actions”. In the example shared earlier in this article, despite the tremendous success of this “Know Your Lemons” campaign, WBC (the Non-Profit behind this campaign) still found difficult to attract sufficient amount of donations[3] because nowhere in the campaign, in its image do you see any indication of this charity asking for any donations! Or even any claim that it is a non-profit! So, using such call-to-actions along with easy options to donate (like by online transfer, digital wallets, PayPal etc.) is essential for a Non-Profit to generate sufficient donations. Finally, it is about the consistency and persistence of a Non-Profit, which will take it places. If the cause is something people can relate to, and the Non-Profit does it well to convey its message, it will create both the awareness about its cause as well as attract donations to sustain itself towards its goal. [1] https://smallbusiness.chron.com/marketing-non-profit-organizations-747.html [2] https://www.ama.org/publications/MarketingNews/Pages/how-one-woman-using-lemons-educate-world-about-breast-cancer.aspx [3] https://www.ama.org/publications/MarketingNews/Pages/how-one-woman-using-lemons-educate-world-about-breast-cancer.aspx
Aravind Case Study
This presentation talks at length about the marketing strategy of Aravind to establish a brand equity.
Satyaki Kundu
Developing Marketing Strategies and Plans
This presentation gives an insight on how to develop marketing strategies and plans for a new or existing product.
Marketing of Organic Product: Organico
This presentation will take you through Marketing of a new organic product: Organico.
Marketing of New Product: Cratus Energy/Protein Dr
This presentation takes you through a new product, its usages and its marketing strategy.
Marketing Strategy of Puilse Fit
This presentation will take you through the marketing strategy of Pulse Fit.
Marketing Plan of a new product
This presentation will take you through Marketing of a new product: Xiaomi's Feature Phone
IGNOU AMK-01
IGNOU AMK-01
Gautham A.
IGNOU BCOA-001
IGNOU BCOA-001
IGNOU ECO 8
IGNOU ECO 8