MARKETING MANAGEMENT CAIIB-GBM Module D

1. MARKETING MANAGEMENT CAIIB-GBM Module D by Dr. Onkar Nath Faculty Sir SPBT College, MUMBAI

2. MARKETING CONCEPT A situation where buyers and sellers of a commodity interact. Coming together of buyers and sellers of the same or similar commodities MARKETING Marketing is the process of determining consumer demand for a product or service, motivating its sale and distributing it into ultimate consumption at a profit

3. EVOLUTION OF MODERN MARKETING • Barter System • Industrial revolution • Digital revolution • Customer and market driven • Wants of customers • CRM • Customer Satisfaction • Nothing is worthwhile unless it touches the customer

4. The Core Concepts of Marketing • Needs, wants and demands • Products (Goods, Services, and Ideas) • Value, Cost and Satisfaction • Exchange and transactions • Relationship and Networks • Marketers and Prospects

5. MARKETING MANAGEMENT • A process of planning and executing the conception, pricing , promotion and distribution of goods and services and ides to create exchanges with target groups that satisfy customer and organizational objectives. • Processes involved • Analysis, planning, implementation, and control; • Covers goods, services, and Ideas; • Rests on the notion of exchange; and • Goal is to produce satisfaction for the parties involved

6. Company Orientation towards the Marketplace (Marketing Concepts) • Production Concepts/Orientation • Product Concept/Orientation • Selling Concept/Orientation • Marketing Concept/Orientation • Societal Marketing Concept

7. SERVICE • A service is any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything. It’s production may or may not be tied to physical product. • CHARACTERISTICS OF SERVICES • Intangibility • Inseparability • Heterogeneity • Perishability

9. Marketing Planning • Macro- and Macro-Factors influencing the market for an organization's goods and services • Controllable Marketing Variables and the Macro-Environment • Demographic Factors • SKIPPIES : School Kids with Income and Purchasing Power • MOBYS : Mother Older, Baby Younger • DINKS : Dual Income No Kids • DEWKS : Dual Earners With Kind • PUPPIES : Poor Urban Professionals • WOOFS : Well-Off Older Folks

10. Economic Factors • Natural Factors • Technological factors • Political and Legal factors • Social and Cultural Factors

11. Proximate Macro-Environment • Competitive Environment • Supplier Environment • Distributive Environment • Scanning and Adaptive to the Environment • Intra-Firm (Micro) Environment

12. Applicability to Banking • The competition environment in banking • Retail Banking • Technology impact on product/service scenario • The changes in distribution plans • The outsourcing or contracting out of non-core bank services • Privatization • Globalization • Corporate banking • Insurance

13. Meaning and importance of planning in marketing • Traditional planning • Difference between a marketing plan and a company’s corporate plan • Market-oriented strategic planning • Difference between marketing plan and marketing planning process • Marketing planning (process) • Marketing plan • Annual-plan control

14. Banking regulation and its impact on marketing strategies • Open market operations • Current scenario

15. Consumer behaviour • Consumer behaviour : A directional Force • The complexity of consumer Buying Decisions • Needs and Motives • Physiological needs • Safety needs • Social needs • Esteem needs • Self-actualization • Individual Perception • Selective perception • Theory of cognitive dissonance

16. Learning and Habit development • Habit-breaking • Habit-acquisition • Habit-reinforcement • Behaviour Models for Analyzing Buyers • The Marshallian Economic Model • The Pavlovian Learning Model • The Freudian psychoanalytic Model • The Veblenian Social Psychological Model • Culture • Sub-cultures • Social Class • Reference Groups • Face-to-Face Groups • Parent • Hobbesian Organizational Factors Model

17. Swinging singles to solitary survivors • Family buying roles • Initiator • Influencer • Decider • Purchaser • User

18. Factors Influencing Consumer Behaviour in Banking • Location • Safety • Returns • Customer Service • Range of Services • Easy Documentation and well-defined Eligibility Criteria

19. The art of customer service as applied to banking • Building customer satisfaction through quality, service, and value • Customer Value satisfaction • Defining service quality • Managing Quality • Delivering Customer Value and Satisfaction: Moments of Truth • Well-conceived strategy for service • Customer-oriented front-line people • Customer-friendly systems

20. The Triangle Of Service • Customer-service strategy connection • customer-people organization connection • Customer-system connection • Systems-people; Strategy-systems; Strategy- people Connections

21. Customer Relationship in Services Marketing • Giving Promises: The traditional or External Marketing • Fulfilling Promises: Internal and Interactive Marketing • Customer Care

22. Consumer and Market Segmentation • Criteria for market segmentation • Meaningful • Measurable • Useful and reachable

23. Consumer and Market Segmentation • Mass Markets and Segmentation • Types of Consumer Segments • Characteristics of segments • Benefits and Disadvantages of Market Segmentation • Alternative Strategies • Evaluation • Marketing Segmentation Strategy: Techniques • Application of Segmentation of Banking Services

24. Marketing Research • Marketing research is research all about the market: its size, composition, structure and so on • Marketing Research Process • Types of data – Primary and Secondary data • Quantitative and Qualitative Research Methodologies • Time and cost constraints • The major uses of Marketing Research • Marketing Information System

25. Marketing Mix • Marketing of financial services • Bank marketing • Service marketing mix • Current development

26. Competitor Analysis • Gap Psychiatry – A structural Methodology • Build a strategic planning knowledge base • Creating a sustainable advantage • Speeds as Strategy • Competitive Strategies

27. Product Strategy • Nature of product • Product and service • Elements of Product Mix • Product Life Cycle and Product Strategies • Product Analysis • New Product Development • Branding and Marketing • Role of Brand in Bank Marketing

28. The Concept of Product/Service Delivery • Process Cycle in Product Development • Packaging and Delivery

29. Pricing Strategy and its Application in Banking • Pricing for Profitability • Elasticity of demand • Pricing Methods/Strategies • Pricing Decisions • Pricing Concept in Banking • Pricing Review and Committees • Concept of Service Fees

30. Bank Distribution Strategies • Distribution of Financial Services • Barriers • Channels of Distribution for Banks

31. Promotion Strategy • Communication Process • Goals of Communication • Advertising and Sales Promotion • Sales Promotion • Publicity • Internal Communication • Marketing Information System (MIS) • Moments of Truth: Customer Care

32. Sales Training and HRD in Marketing • Proper Attitude Orientation of Staff • Selling Skills Required • Need and Importance of Sales Training • Sales Training and Strategy • Selling process • Impact of Training as HRD Intervention in Marketing • Direct Sales Force • Importance of Quality Service • Public Relation and Institution Image

33. Q ? ueries