5 Cs of Marketing

Five Cs of marketing are

1. Customers
2. Company
3. Competitors
4. Collaborators
5. Context
Customer needs: What needs does the firm seek to satisfy?
Company Skills: What special competence does the firm possess to meet those needs?
Competition: Who competes with the firm in meeting those needs?
Collaborators: Whom should the firm enlist to help it and how can the firm motivate them?
Context: Which cultural, technological, and legal factors limit the possibilities?
Bases of Marketing:
Markets can be segmented in a variety of ways, among those most widely used bases are
Demographic: age, income, gender, occupation
Geographic: nation, region of country, urban vs rural
Lifestyle: hedonistic vs. value oriented
These three types of bases demographic, geographic, and lifestyle are general descriptors of consumers
Marketing Mix:
Marketing mix is used to describe the set of activities comprising a firms marketing program
Below twelve marketing terms are determined as marketing mix
1. Merchandising / product planning
2. Pricing
3. Branding
4. Channel of Distribution
5. Personal selling
6. Advertising
7. Promotions
8. Packaging
9. Display
10. Servicing
11. Physical Handling
12. Fact finding and analysis / market research
Aggregation and regrouping of these elements has become popular
Four Ps of Marketing:
Four Ps of marketing are
1. Product
2. Place (Channel of distribution)
3. Promotion ( communication strategy)
4. Pricing
Six Ms of Marketing:
Six Ms of Marketing are
Market: To whom is the communication to be addressed?
Mission: What is the objective of the communication?
Message: What are the specific points to be communicated?
Media: Which vehicles will be used to convey the message?
Money: How much will be spent in the effort?
Measurement: How will impact be accessed after the campaign?
Product Definition:
Product decision starts with understanding of what a product is namely, the product offering is not the
thing itself, but rather the total package of benefits obtained by the customer.
For marketing strategy development purposes, the product has to be considered from the point of view of
value delivered to the customer
Value of product is delivered from
1. The physical product itself
2. Brand Name
3. Company reputation
4. Presale education provided by salespeople
5. Postsale technical support
6. Repair service
7. Financing plans
8. Financing plans
9. Convenient availability
10. Word-of-mouth references from earlier adopters of the product
11. Reputation of the outlet where the product was purchased
Product Line Planning Decisions:
There are three types of product line planning decisions
1. Product line length
2. Product line breadth
3. Product line depth
Product Development Process:
If you want to develop a new product then you should go for the below five step process
1. Opportunity identification
2. Design
3. Testing
4. Product introduction
5. Life cycle management
Marketing Channel
Marketing channel is a set of mechanisms or the network vis which a firms goes to market that is in
touch with its customer for a variety of tasks ranging from demand generation to physical delivery of the
goods.
Here are eight generic channel functions that serve as a staring place for assessing needs in a particular
context
1. Product information
2. Product customization
3. Product quality assurance
4. Lot size
5. Product assortment
6. Availability
7. After sale service
8. Logistics
Sales Promotions:
Sales promotions include things such as samples, coupons and contests, some major types of sales
promotions are
1. Consumer promotions
2. Trade promotions
3. Retail promotions

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Analysis In marketing and other social science disciplines, a variety of statistical and non-statistical
methods are used to analyze data, instead of sheer intuition, or simple descriptive
Statistics which have been the norm in the library filed.
Aggregation A concept of market segmentation that assumes that most consumers are alike.
Advertising The placement and purchase of announcements and persuasive messages in time or space in
any of the mass media by business firms, non-profit organizations. This has not been a traditional method
for libraries of informing the public, but rather public service announcements, which are placed at no cost,
are the norm.
Activities, interests, and opinions (AIO) A measurable series of psychographic (as opposed to
demographic) variables involving the interests and beliefs of users. Note, because psychographics are
usually expensive to gather, yet offer a more precise profile of users, demographic variables are usually
relied upon.
Acquisitions value The users perception of the relative worth of a product or service to them. Formally
defined as the subjectively weighted difference between the most a buyer would be willing to pay for the
product or service, less the actual price of the item. Time user must spend to acquire is often used as a
surrogate for relative worth or price paid, in library research. For example, a user might be willing to
expend drive time and a brief time in the library to check out a best seller, but not wait two weeks for a
copy to be returned.
Accountability Libraries like private sector businesses are increasingly called upon to make all units
accountable for results. Growing funds are needed for technology as opposed to only books. Funders often
cut the library budget first, in favour of other agencies such as police and fire or other seemingly, more
necessary agencies. Libraries are developing better performance measures within the present day control
systems to offer better accountability.
Audience The number and/or characteristics of the persons or households who are exposed to a particular
type of advertising media or media vehicle. In a library this could be a certain number of people that attend
a library program.
Audit The process of reviewing the librarys strengths and weaknesses (internally), and opportunities and
threats (externally) to shed light on the agencys performance.
Balanced stock The composition of merchandise inventory in the colors, sizes, styles and other assortment
characteristics that will satisfy user wants. For the library this would mean, services and materials based
upon users wants and needs.
Barcode An information technology application that uniquely identifies various aspects of product
characteristics, increasing speed, accuracy, and productivity of distribution process. Most library materials
are barcoded for security.
Brand A name, term, design, symbol, or any other feature that identifies one sellers good or service as
distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one item, a
family of items, or all items of that seller. If used for the firm as a whole, the preferred term is trade name.
Library could be considered a trade name.
Channel of distribution An organized network of agencies and institutions which in combination perform
all the functions required to link producers with end customers to accomplish the marketing task. For a
library this would include vendors, publishers as well as library facilities.
Circulation The number of copies of a print advertising medium that are distributed. For the library field,
this is numbers of items checked out by users.
Consumer The ultimate user of goods, ideas or services. Also the buyer or decision maker, for example,
the parent selecting childrens books is the consumer.
Core product The central benefit or purpose for which a consumer buys a product or service. The core
product varies from purchaser to purchaser. For a library user the core benefit of checking out a book, may
be for one user that there is no charge, and to another the availability of a work which can no longer be
purchased.
Customer The actual or prospective purchaser of products or services. The library user is the
librarys customer.
Decision support system (DSS) A decision support system (marketing definition) is a systematic
collection of data, techniques and supporting software and hardware by which an organization gathers and
interprets relevant information from business and the environment and turns it into a basis for making
management decisions. A DSS differs from a management information system in that it is designed to
answer precise questions and what/if questions. An example would be, What affect on system library use
will there be if Branch X is closed?
DE marketing The process of reducing the demand for a productor decreasing consumption. For
example, the library discontinues offering income tax assistance and forms.
Direct marketing Marketing efforts, in total directed toward a specific targeted groupdirect
selling, direct mail, catalog or cablefor soliciting a response from customer. A library may mail a library
registration card to every new mother in the hospital.
Dwell time The amount of time a customer/user spends in time waiting in line. For a library user this is
a priceexpended.
Eighty-twenty principle The situation in which a disproportionately small number (e.g., 20%) of staff,
products or users generate a disproportionately large amount (e.g., 80%) of a firms use/profits. A use
analysis should be conducted to determine what the cause is.
Exchange All activities associated with receiving something from someone by giving something
voluntarily in return. This is the heart of the marketing process. A library user gives time instead of money
to borrow materials, but it is still an exchange
Goods A product that has tangible form in contrast to services that are intangible. A book versus a story
read.
Market The set of actual or potential users/customers.
Market area A geographical area containing the customers/users of a particular firm/library for specific
goods or services. This would be determined by geocoding library users addresses and determining the
boundaries of the primary geographic market.
Market demand The total volume of a product or service bought/used by a specific group of
customers/users in a specified market area during a specified period. For example, the demand for best
sellers during the fall.
Market development Expanding the total market served by 1) entering new segments, 2) converting
nonusers, 3) increasing use by present users.
Market positioning Positioning refers to the users perceptions of the place a product or brand occupies in
a market segment. Or how the company/librarys offering is differentiated from the competitions. For a
library a competitor may be another public agency competing for public funds. What unique niche does the
library serve when competing against police for same $$
Market profile A breakdown of a facilitys market area according to income, demography, and life style
(often.)
Market research The systematic gathering, recording and analyzing of data with respect to a particular
market, where market refers to a specific user group in a specific geographic area.
Market segmentation The process of subdividing a market into distinct subsets of users that behave in the
same way or have similar needs. Segments for the library could be demographic (Asian); geographic
(branch-level); psychographics (leisure-oriented); customer size (largest user group area); benefits (have
children in the home learning to read.)
Market share A proportion of the total sales/use in a market obtained by a given facility or chain. Branch
A has 35% of the systems circulation.
Marketing The process of planning and executing the conception, pricing, promotion, and distribution of
ideas, goods, and services to create exchanges that satisfy individual and organizational goals.
Marketing channel A set of institutions necessary to transfer the title to goods and to move goods from
the point of consumption. (Vendors, publishers, library facilities.)
Marketing mix The mix of controllable variables that the firm/library uses to reach desired use/sales level
in target market, including price, product, place and promotion- 4 Ps. For a library this would be
embodied in price of users time to access goods, a product would be a book or story time, place is a
branch or bookmobile, and promotion is publicity, displays etc.
Marketing opportunity An attractive arena of relevant marketing action in which a particular
organization is likely to enjoy a superior and competitive advantage. The library is selected to host the
community heritage festival which is funded by the city.
Marketing plan A document composed of an analysis of the current marketing situation, opportunities
and threats, analysis, marketing objectives, marketing strategy, action programs, and projected income
statement. This could be very similar to a librarys long range plan.
Maturity stage of product life cycle Initial rapid growth is over and use/sales level off.
Non-profit marketing The marketing of a product or service in which the offer itself is not intended to
make a monetary profit for the marketer.
Penetrated market Actual set of users actually consuming the product/service.
Point-of-purchase Promotional materials placed at the contact sales point designed to attract user interest
or call attention to a special offer, e.g., Sign up for Summer Reading Program.
Point-of-sale (POS) A data collection system that electronically receives and stores bar code information
derived from a sales transaction. This could the zip codes for library users, facilitating the library in
determining geographic market are that users reside in.
Potential market Set of users who profess some level of interest in a designed market offer.
Price The formal ratio that indicates the quantities of money goods or services needed to acquire a given
quantity of goods or services. For a library user price may come in the form of time the library users must
expend to obtain library materials or services.
Private sector Activities outside the public sector that are independent of government control, usually, but
not always carried on for a profit.
Product A bundle of attributes or features, functions, benefits and uses capable of exchange, usually in
tangible or intangible forms. The librarys products include materials to use, questions answered,
storyhours, online searching, etc.
Product life cycle The four stages products go through from birth to death: introductory, growth, maturity,
and decline.
Product mix The full set of products offered by an organization e.g., books, videos, storyhours, etc.
Product positioning The way users/consumers view competitive brands or types of products. This can be
manipulated by the organization/library. The librarys video collection, available for free, is competitive
with local video stores that charge, if video collections are comparable. If the collections are not, the
library is differentiating the video collection from the video store.
Quality control An ongoing analysis of operations, to verify goods or service meet specified standards, or
to better answer customer/user complaints. Libraries have been criticized for not employing more quality
control standards on library services.
Quality of life Sometimes measured by income, wealth, safety, recreation and education facilities,
education health, aesthetics, leisure time and the like.
Quantity discount A reduction in price for volume purchases.
Shopping good Goods and products can be classified as convenience, shopping or specialty. A shopping
good is one that more time is spent selecting (browsing) than a quick convenience good. Example, a
certain type of mystery book.
Slogan The verbal or written portion of an advertising message that summarizes themain idea in a few
memorable wordsa tag line.
Social advertising The advertising designed to education or motivate target audiences toundertake socially
desirable actions.
Social class A status hierarchy by which groups and individuals are classified on the basis of esteem and
prestige.
Social indicator The data and information that facilitate the evaluation of how well a society or institution
is doing.
Specialty advertising The placement of advertising messages on a wide variety of items of interest to the
target markets such as calendars, coffee cups, pens, hats, note paper, t-shirts, etc. These are widely given
out to librarians at professional conferences from vendors. Libraries may use these items as well, but are
usually sold in library gift shops.
Target market The particular segment of a total population on which the retailer focuses its
merchandising expertise to satisfy that sub market in order to accomplish its profit objectives. Or for the
library, a target market might be within the market area served, children 5-8 years old, for summer reading
programs, to increase juvenile use and registration
Value The power of any good to command other goods in peaceful and voluntary exchange.
Values The beliefs about the important life goals that consumers are trying to achieve. The important
enduring ideals or beliefs that guide behavior within a culture or for a specific person.
Word of mouth communication (WOM) This occurs when people share information about products or
promotions with friendsresearch indicate WOM is more likely to be negative


Ad- Advertising

MKT Marketing

B2B Business to Business

SME Subject Matter Expert

F500- Fortune 500

EM- Email

DM Direct Mail

ABM Account Based marketing

TAP Targeted account programs

DM Digital Marketing

SE Search Engine

SERP Search Engine Results Page

SEM Search Engine Marketing

SEO - Search Engine Optimization

SMM Social Media Marketing

SMO Social Media Optimization

PPC pay per click

PPA Pay Per Action

PPI Pay Per Impression

PPL Pay Per Lead

CTR Click through rate

CPC Cost Per Click

CPL Cost Per Lead

CPS Cost Per Sale

CMS Content Management System

CRM Content Relationship Management

MAP Marketing Automation Platform

SFA Sales Force Automation

BI Business Intelligence

MLM Multi Level Marketing

FDI Foreign Direct Investment

POP Point of Purchase Display

R&D Research and Development

UPC Universal Product Code

POS Point of Sale Display

ROI Return on Investment

CLS Costumer Location System

RPM Resale Price Maintenance

VAT Value Added Tax

VBS Verbal Marketing System

CR Concession Rate

DRA Direct Response Advertising

CLV Customer Lifetime Value

eCommerce Electronic Commerce

CRM Customer Relationship Management

NPD New Product Development

ROMI Return on Marketing Investment

LTV Life Time Value

BDI Brand Development Index

CDI Category Development Index

MR Market Research

AIM Alternative Investment Market

MS Market Share

TMV True Market Value

MAA- Marketing Authorization Application

MS Market Surveillance

WOMM- Word of Mouth Marketing

IDRA Industries Development and Regulation Act

UX User Experience

GRS Gross rating Point

BEP Break Even Point

PAN Permanent Account Number

IMF International Monitory Fund