Contemporary Issues in Marketing

Module 5
Contemporary issues
Public relations to regulate marketing

Building good relations with the companys various publics by obtaining favorable publicity, building up a good corporate image and handling
or heading off unfavorable rumors, stories and events is public relations.
Siresha.N, Lecturer, Loyola College.
Functions of Public relations department

Press relations or press agency
Product publicity Public affairs Lobbing Investor relations Development
3 Siresha.N, Lecturer, Loyola College.
Role and impact of public relations

Have strong impact on public awareness
Cost of advertising being comparatively lower The results being very spectacular Staff is often busy dealing with day-to-day issues Advertising doesnt build brand but rather PR does
Public relation tools

News : creating favorable news about the company Special events: conferences, grand openings, air balloon releases Speeches: about product and goodness of company
Written materials: brochures, reports, articles, company news letters
Audio- visual material: DVDs, slide shows, online videos Corporate identity materials: logos, business cards, stationary Public service activities: CRM
Buzz marketing : social networking
Competitive analysis and strategies

Competitive analysis: The process of identifying key competitors; assessing their objectives, strategies, strengths and
weaknesses and reaction patterns and selecting which competitor to attack or avoid Competitive marketing strategies: strategies that strongly
position the company against competitors and that give the company the strongest t possible strategic advantage
Competitor analysis
Assessing competitors objectives, strategies, strengths, weakness and reaction patterns
Identifying the companys competitors
Selecting which competitor to attack or avoid
Competitive strategies
Approaches to marketing strategies and its stages: Entrepreneurial marketing : start up an enterprise by
visualizing opportunity, construct flexible strategies of the back of envelops and knock on every door to gain attention Formulated marketing: as small companies achieve success, they inevitably move towards more-formulated marketing.
Intrepreneurial marketing: companies which are stuck at formal marketing drag and scan market research reports and try fine tuning of strategies.
Basic competitive strategies: Overall cost leadership: working hard to achieve low
production and distribution costs which lets the price lower than its competitors. Differentiation: concentrates on creating a highly
differentiated product line and marketing program so that
it comes across as a class leader in the industry. Focus: focus effort on serving a few market segments well rather than going after the whole market
Customer centered classification:
Operational excellence : company providing superior value by leading its industry in price and convenience serving customers who want reliable, good quality products or services
Customer intimacy: company proving superior value by precisely segmenting its markets ad tailoring its products or services to
match exactly the needs of targeted customers with close relation and intimate knowledge of the customer
Product leadership : provides superior value by offering a
continuous stream of leading-edge products or services

Competitor positions and their strategies

Market leader: The firm in an industry with largest market share
Expand total market

Protect market share Expand market share
Market challenger: a runner up firm that is fighting hard to increase its market share in an industry
Full frontal attack

Indirect attack
Competitor positions and their strategies

Market follower: a runner up firm that wants to hold its share in an industry without rocking the boat
Follow at a distance
Market nicher: a firm that serves small segments that the other firms in an industry overlook or ignore
By customer, market, quality price & service multiple niching
Balancing customer and competitor orientations

Competitor centered strategy: a company whose moves are
mainly based on competitors actions and reactions Customer centered strategy: a company that focuses on customer developments in designing its marketing strategies
and on delivering superior value to its target customers Market centered strategy: a company that pays balanced attention to both customers and competitors in designing its
marketing strategies
Global market environments

Global firm is one that, by operating in more than one country, gains marketing, production, R & D, financial advantages that are not available to purely domestic competitors
Major international marketing decisions are:
Looking at the global market environment Deciding whether to go global Deciding on which markets to enter Deciding how to enter the market Deciding on the global marketing program Deciding on the global marketing organization
1. Looking at the global market environment
International trade system

Economic environment Political and legal environment Cultural environment
2. Deciding whether to go global

Deciding on competitors, unstable currency fluctuations etc
3. Deciding which markets to enter

Deciding on marketing objectives and policies , volume of sales,
no of countries to enter in
4. Deciding on how to enter

Exporting
Indirect Direct
Joint venturing
Licensing Contract manufacturing Management contracting Joint ownership
Direct investment
Assembly facilities Manufacturing facilities
5. Deciding on global marketing program

Standardized marketing strategy Adapted marketing strategy
6. Deciding on global marketing organization

Becoming global organizations
Social responsibility and ethics
Needs of consumers
Now
Marketing concept
Strategic planning concept
Future
Societal marketing concept
Sustainable marketing concept
Now
Future
Needs of business`
Social criticisms of marketing
Marketing impact on individual consumers

High prices because of high cost of distribution, high advertising
and excessive markups

Deceptive practices in pricing, promotions and packing High pressure selling Shoddy, harmful or unsafe products
Planned obsolescence
Poor service to disadvantaged consumers
Social criticisms of marketing

Marketing impact on society as a whole
False wants and too much materialism Too few social goods Cultural pollutions- the commercial noise
Marketing impact on other business
Consumer actions to promote sustainable marketing

Consumerism : An organized movement of citizens and
government agencies to improve the rights and powers of buyers in relation to sellers .
Environmentalism : an organized movement of concerned citizens and government agencies to protect and improve peoples current and future living environment.
Business actions towards sustainable marketing

Consumer oriented marketing
Customer value marketing Innovative marketing Sense of mission marketing

Societal marketing
Marketing ethics
Immediate satisfaction
Low
Long run consumer benefit
Salutary products
High
Desirable products
High
Low
Deficient products
Pleasing products
THE END

Contemporary Issues in Marketing

Uploaded by

Copyright:

Available Formats

Contemporary Issues in Marketing

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Contemporary Issues in Marketing

Uploaded by

Copyright:

Available Formats

Module 5

Public relations to regulate marketing

or heading off unfavorable rumors, stories and events is public relations.

Siresha.N, Lecturer, Loyola College.

Functions of Public relations department

Product publicity Public affairs Lobbing Investor relations Development

3 Siresha.N, Lecturer, Loyola College.

Role and impact of public relations

4 Siresha.N, Lecturer, Loyola College.

Public relation tools

Written materials: brochures, reports, articles, company news letters

Competitive analysis and strategies

6 Siresha.N, Lecturer, Loyola College.

Identifying the companys competitors

Selecting which competitor to attack or avoid

7 Siresha.N, Lecturer, Loyola College.

differentiated product line and marketing program so that

Product leadership : provides superior value by offering a

continuous stream of leading-edge products or services

Competitor positions and their strategies

Expand total market

Full frontal attack

Competitor positions and their strategies

12 Siresha.N, Lecturer, Loyola College.

Balancing customer and competitor orientations

13 Siresha.N, Lecturer, Loyola College.

Global market environments

14 Siresha.N, Lecturer, Loyola College.

1. Looking at the global market environment

International trade system

2. Deciding whether to go global

3. Deciding which markets to enter

4. Deciding on how to enter

5. Deciding on global marketing program

6. Deciding on global marketing organization

Social responsibility and ethics

Strategic planning concept

Societal marketing concept

Sustainable marketing concept

17 Siresha.N, Lecturer, Loyola College.

Social criticisms of marketing

Marketing impact on individual consumers

and excessive markups

18 Siresha.N, Lecturer, Loyola College.

Social criticisms of marketing

19 Siresha.N, Lecturer, Loyola College.

Consumer actions to promote sustainable marketing

20 Siresha.N, Lecturer, Loyola College.

Business actions towards sustainable marketing

Customer value marketing Innovative marketing Sense of mission marketing

21 Siresha.N, Lecturer, Loyola College.

22 Siresha.N, Lecturer, Loyola College.

You might also like