Peeyush's Blog World

MARKETING - 1   MARKETING :            A Process by which companies create Value for customers and build strong customer relationship in order to capture Value from customers in return. The Marketing Process Marketing Process is a 5 Step Model where it includes: 1) Understand the Market Place and Needs and Want of Customers 2) Create a customer-centric marketing approach 3) Create an integrated marketing Plan that provides exceptional value. 4) Create profitable connections and delight your customers. and the Final Step (an important one from marketers point of view): 5) Profits and customer equity generated through capturing value from customers. Marketing Myopia Many businesses make the mistake of focusing on the specific products they offer rather than the benefits and experiences these products bring. This is called Marketing Myopia. The term was coined by the late Harvard Business School marketing professor, Theodore Levitt, in a 1960 a...

BLUE OCEANS STRATEGY(BOS) Competing in overcrowded industries is no way to sustain high performance. The aim of BOS is not to out-perform the competition in the existing industry, but to create new market space or a blue oceans, thereby making the competition irrelevant.BOS covers both strategy formulation and strategy execution. Red Oceans represent all the industries in existence today - the known market space. In Red Oceans, industry boundaries are defined and accepted, and the competitive rules of the game are well understood. Here, companies try to outperform their rivals in order to grab a greater share of existing demand. As the space gets more and more crowded, prospects for profit and growth are reduced. Product turns in to commodities, and increasing competition turns the water bloody. Blue Oceans denotes all the industries not in existence today - the unknown market space, untainted by competition. In Blue Oceans, demands is created rather than fought over...

Repositioning - Back from Holy Grave! When the recovery will begin? This question has been asked to me several times or almost in each of my class by my students (as they were worried about their future) in past 5 months & my standard answer was always “ NEVER, It will be . ” Because Recovery means ‘A RETURN TO NORMAL.’ For the probable future, where as Now is the new normal. Recent worldwide Economic collapse has permanently shifted customer expectations & business dynamics. Today’s consumer is worried about his Income Resources and future, as he should be. Now consumers are extremely price as well as value conscious. One approach, which attempts to maintain growth and margins while meeting the new demands of the transformed economy, is called repositioning. Repositioning, in classical sense, stands for marketing communication strategy designed to re-frame a company’s offerings in a more favorable light to appeal better to changing consumer sensibilities. An...

In the thinking of most of the people- Marketing is only selling & advertising of product for the profit of its maker( Company). where as MARKETING is an iceberg ,selling & advertising is the part of it,in fact they are just an tip of marketing Iceberg. Marketing is an iceberg,by standing on tip of it ,you will never come to know how much deep down its roots there in the water. Marketing is an process to conceive the desired or expected value from a product or services,for its buyer mainly as well as for its seller. Definition of Marketing , conventionally & broadly is, its a process of planning & executing the conception ,pricing,promotion,& distribution of ideas,goods & services to create exchanges that satisfy individual & organizational objectives.