31727821 contemporary issues in marketing

8/8/2019 31727821 Contemporary Issues in Marketing

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Contemporary

Issues in Marketing


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Social Marketing

Social marketing is the application of marketingtools and techniques for marketing sociallybeneficial ideas and causes to a particular group of

people or community as a whole.Social marketing is defined as "the design,implementation and control of programs aimed atincreasing the acceptability of a social idea or

practice in one or more group of target adopters.


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Social Marketing

Social marketing is applied to variety of causes likefamily planning, pollution control, health care,energy conservation, higher education, raising fund

for a social cause like war, earthquake, etc.Major dimensions of social marketing are -Price mixPromotion mixProduct mixDistribution


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Marketing of Services

A service is a any act or performance that one partycan offer to another that is essentially intangibleand does not result in the ownership of anything


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Examples of Service IndustriesExamples of Service Industries

H ealth Carehospital, medical practice, dentistry, eye care

Professional Services

accounting, legal, architecturalFinancial Services

banking, investment advising, insuranceH ospitality

restaurant, hotel/motel, bed & breakfast,ski resort, rafting

Travelairlines, travel agencies, theme park

Others:hair styling,, counseling services, health club


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Services

Inseparability

Services cannotbe separated

from their providers

Perishability

Services cannotbe stored for

later sale or use

Intangibility

Services cannotbe seen, tasted,

felt, heard, or smelled before

purchase

VariabilityQuality of

services dependson who providesthem and when,where, and how


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Three Ty pes of Marketing

in Service Industries

Internalmarketing

CompanyCompany

CustomersCustomers

Externalmarketing

EmployeesEmployees Interactivemarketing

Cleaning/maintenance

services

Financial/bankingservices

Restaurantindustry

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Expanded Marketing Mix for ServicesExpanded Marketing Mix for Services

PRODUCT PLACE PROMOTION PRICEPh sical oodfeatures

Channel type Promotionblend

Flexibility

Quality level Exposure Salespeople Price level

Accessories Intermediaries Advertising Terms

Packaging Outlet location Salespromotion

Differentiation

Warranties Trans ortation Publicity Allowances

Product lines Storage

Branding


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PEOPLE PHYS I LEVI ENCE

PROCESS

Emp l ilit i l f ti iti

Cus t me r s Equ ipmen t Numbe r f s teps

Commun i ting

cu ltu r e nd lues

S ignage Leve l o f cus tome r

invo lvemen tEmp loyee r esea r ch Emp loyee d r ess

Othe r t ang ib les

Expanded Marketing Mix for ServicesExpanded Marketing Mix for Services


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Consumer Protection

Since long the consumer has been a much exploitedperson particularly in developing countries likeIndia.

It is because of the malpractices adopted by thebusinessmen and manufacturers of products.In 1986, the govt. passed the consumer protection actto safeguard the interest of consumers from unfairtrade practices adopted by the businessmen.This act provides forum for the redressal ofconsumer grievances with in a stipulated timeframe.


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N eed for Consumer Protection

To protect the consumer against exploitation.To provide physical environment that will protectand enhance the quality of life.Develop ethical considerations in business practice.Help consumers to get value for their hard earnedmoney.


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D e-marketing

Some organizations face demand level that ishigher than they can want to handle.De-marketing strategy requires finding ways to

reduce the demand temporarily.It discourages the overall demand by raising pricesand reducing promotions and service.De-marketing aims not to destroy demand butonly to reduce its level, temporarily.Selective de-marketing consists of trying to reducedemand from those parts of the markets that areless profitable.


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Morph Marketing

In the todays times of competition, the productattributes are not much important fordifferentiation but the service features especiallyfor marketing of consumer durables.In Morph marketing, the importance is not on whatmarketer is selling but how he develop the longterm relationship with customer and up to whatlevel he is able to reduce the customers dissonance.

The basic objective behind the morph marketing isto add value to the product significantly forwinning the customers loyalty.


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Benefits of Morph Marketing

Building services with the product, helps to meetthe customer expectations.Differentiating through service will deliver theunexpected value to customers and boost sales.A product-service combination allow to overcomenon-involvement barrier.


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Relationship Marketing

Building mutually satisfying long-term relationswith key parties customers, suppliers, distributors in order to earn and retain their business.

The process of building and maintaining profitablecustomer relationships by delivering superiorcustomer value and satisfaction.


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I mportance of Relationship

MarketingRelationship marketing builds goodwill in themarket which in turn generates additional traffic tothe outlet.

RM is a highly effective technique to keep track ofbuying habits.RM leads to the development of customers loyaltyand satisfaction.

It can stop customers switching to another brand.RM leads to develop a positive relation with thecustomers.


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T ools Relationship Marketing

A utomated telephone serviceCRMInternetData WarehousingUse of SoftwareTool free numbers

Call centers.


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I nternational Marketing

International marketing is, an effort to find a globalcustomer, whose needs can be satisfied by anexporter in a way better than the competitor, and

coordinating the entire marketing activities inconsonance with the rules and regulations of bothcountries.


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I nternational Marketing

In this definition we can find many unique featuresof International Marketing-Satisfying needs of global customer

In a way better than competitor.Coordinating marketing activities.Marketing the product in consonance with the rulesand regulation of both the exporting county andimporting country.


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F unctions in I nternational

MarketingChoosing the basic Route.Market selection and product selectionSelection of distribution channelPricingMarketing communicationMastering the procedural complexities

Handling Business ethics


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Marketing Ethics

The term marketing ethics refers to the system ofmoral principles and rules of conduct applied tomarketing

Marketing activity should be conducted accordingto certain self-recognized moral standards.A merican marketing association has drafted thecode of professional conduct which contains the

following points-


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1. Responsibilities of the

MarketerKnowingly do not harm customers.The adherence of all applicable laws andregulations.

The accurate representation of all experience.The active support to customers


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2 . Honesty and fairness

Being honest in serving customers.Establishing equitable fee schedules.


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3 . Protecting rights of Customers

Products and services offered are safe and fit fortheir intended use.Disclosure of all substantial risks associated with

product or services.Not manipulating the availability of a product forpurpose of exploitation.Treating outside clients and suppliers fairlyNot engaging in price fixing


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4 . Organizational Relationship

Meet obligations and responsibilities in contractsand mutual agreements.A void manipulation with in organization.


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Marketing on Web

E-commerce involves the exchange of products,services, information through the electronicmedium.

It is biggest development in commerce since theinvention of money.


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Models of E-commerce

Business to Business ( B2B)Business to Consumer ( B2C)Consumer to consumer (C 2C)Consumer to business (C 2B)Government to Consumer ( G2B)


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F unctions of E-commerce

Service management functionCommunication functionTransaction functionProcess management function


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N iche Marketing

Niche is a narrowly defined group that may seek aspecial combination of benefits.Marketers usually identify niches by dividing

segment in to sub segments.


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Characteristics of N iche

The customers in Niche have a distinct and somewhat complex set of needs .They are ready to pay a premium to the firm which

is satisfying their needs .Niche leader is not attracted by competitors.To be successful, the niche marketer need tospecialize in his operation.


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N iche Marketing Strategies


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Retro Marketing The revival or re-launch of a product or service

brand from a prior historical period, which isusually but not always updated to contemporarystandards of performanceIt has three dimensionsNew products with an appearance similar to theold one, but with advance technology orcomponents.Cyclical regeneration of the old product with newand better communication mix.New brands that express old values


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Retro Marketing in I ndia

Retro A dvertisementsRetro KnowledgeRetro Branding in FMC GRetro musicRetro FilmsRetro Fashion


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31727821 contemporary issues in marketing

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