Marketing Management Takeaways
Marketing Management Takeaways
Marketing Management Takeaways
22/7
*Read the assumptions carefully for calculating breakeven
*Most economical segment is one with less acquisition cost & most expensive is one with more
acquisition cost
*Don't discount money in present because the value is same in present year
*Decision that we take is a tradeoff between returns and reserves
*Make decisions but don’t get trapped inside.
● Needs Pre-exist. The role of a marketer is to identify the needs of a customer and
satiate the needs. Needs can also be latent.
● Concept of Needs, wants and desires.
● 4 Ps of MArketing + 3 P’s . Price, Place, Promotion, Product, People, Process, Physical
evidence
● Competitors may/ may not be from the same industry. Use SWOT Analysis and Porter’s
5 model.
● Use PESTLE for analysing for environment/context.
Sociology is the first way used for identifying/understanding the right customer.
● The Five C Analysis- Company, Customer, Collaboration, Competition,
Content/Environment
● Value- It is relative & idiosyncratic & subjective at the same time.( Value lies in
exchange)
● The value from a marketer’s perspective is a bundle of benefit offered to the customer
● VALUE LIES IN USAGE
● VALUE LIES IN CONTEXT.
● Value lies in exchange
● Customer Value- they are the benefits offered to a customer by marketers vis-a-vis cost
● Protection of ur PODs and they should not become your POPs. For the short term goals,
one cannot let go of their old age prodigy.
● Concept of VAlue
● Time VAlue of Money
● Identify the people from the industry/system that are your friends.
● Push vs Pull Strategy
● The 6 entities called decision makers- initiator, user, gatekeeper, desidor,
influencer,buyer.
QUIZ ANSWERS
May the FORCE be with you !
1)value in perspectivE
Value in perspective
A firm considering legal and ethical responsibilities of their marketing activities and
programs is embracing what concept in marketing?
Internal Marketing
is the expected level of company sales and based on a chosen marketing plan and an
assumed marketing environment
Company sales forecast
Customers may share a strong need that cannot be satisfied by an existing product.
This is termed as _Latent Demand ____
Lawyers- influencer
Latent demand
Apple losing its market to Android phones in the recent times, may be because pple has
lost too many points of parity in comparison to Android
A and b i think
What among the following options is a metric for tracking the scope or breadth of an
ad’s reach?
Engagement
Answer- Influencers