Module 1:

-Market is someplace where this is exchange.

-Can be non-profit also.
-Where there is a buyer and a seller
-Product focus market which is a seller's market should be,to totally enhance a
product.(inside-out)
-Reducing costs and the best available product in the market.
-Profitability tied to market share.
-The bigger the market share in a product focus market the more the revenue mean
s lower costs.
-Product focus is "i am the expert and i know what's best for the market".
-Customer focus marketing is based on customer requirement which is buyer(outsid
e-in)
-Create value in customer focus marketing to become profitable.its called custom
er share. best example apple.
-In customer focus marketing its cheaper to renew existing customers but expensi
ve to gain new customers. Its about building loyalty.
-To increase customer share introduce cross selling. cross selling is to include
other products with the product that the customer is buying
connected community:
-Customers talk to other customers about the product being good or bad.
-Has to focus on total customer experience
-Profitability will be social media for experiencs orientation
-Experience needs to focus on previous experiences
-Trust needs discipline
-Profitability will be the trust
Module 2:
3 principles of marketing:
Principle of customer value.
Principle of differentiation
Principle of segmentation,targetting and positioning.
4 P's of marketing:
Product
Place
Promotion
Price
Module 3:
Strategic Marketing(market driven principles):
FRAMEWORK:
1)know your markets
a)Know your competion
b)what your customer wants
2)customers have the final say
There are 3 bundles into which the customer classfies:
a)operational i.e price,delivery etc.
b)design,technology
c)is it customized to meet my needs.
3)commit to being the first in the markets you serve.
4)Deliver total quality to gurantee customer satisfaction
1 bundle should be extremely good and the rest 2 can be good enough.
Fair value always changing over time.
Fair value is the slope of the recieved benefits of the customer(y-axis) and the
costs to the customer(x-axis)
Example of APPLE.
If your an operational company your looking at meeting deliverables on time like
IT company
If your a performance superiority company then your looking at R&D company,looki
ng at innovation,don't like top-down structure.
If your a customer intimacy companies then your looking at lot of market researc
h, let the customer come first
A short term goal can be to be great at operations and then slowly grow towards
customer intimacy in the long term.
Module 4:
Segmentation,targeting and positioning.
Segmentation:Identify the variables
Targeting:Target the Market.
Positioning:Where to position your product.
Market Segment:
market segmentation is the process of dividing a market into distinct subsets, w
here any subset may conceivably be selected as a marketing target to be reached
with a distinct marketing mix(The 4 P's).
Module 6:
The product centric approach:
Maximize shareholder value.
maximize profits through volume and cost reductions.
Growth through extending the product.
product oriented org structure.
product expertise.
Direct marketing:
Know what each customer wants.
Read about direct marketing.