MARKETING MIX

       WE HAVE BEEN TREATING MARKETING AS A PROCESS OF VALUE DELIVERY. ONE NEEDS A MECHANISM/VEHICLE, FOR CARRYING OUT THIS PROCESS. THE MARKETING MIX IS THE MECHANISM/VEHICLE, A MARKETER USES HERE. IT IS A BUSINESS TOOL USED IN MARKETING AND BY MARKETING PROFESSIONALS. THE TERM MARKETING MIX WAS COINED IN AN ARTICLE WRITTEN BY NEIL BORDEN CALLED 'THE CONCEPT OF MARKETING MIX' IN 1953. IT IS STILL USED TODAY TO MAKE IMPORTANT DECISIONS THAT LEAD TO THE EXECUTION OF A MARKETING PLAN. IT REFERS TO THE SET OF ACTIONS  OR TACTICS, THAT A COMPANY USES TO PROMOTE ITS BRAND OR PRODUCT IN THE MARKET. IT DELIVERS VALUE THROUGH EACH OF THE 4Ps. IT IS A COMBINATION OF 4Ps.

1. PRODUCT:- A PRODUCT IS SEEN AS AN ITEM THAT SATISFIES WHAT A CONSUMER DEMANDS. IT IS A TANGIBLE GOOD OR INTANGIBLE SERVICE.

• PRODUCT DESIGN, FEATURES,BRAND NAME, MODELS, STYLE, APPEARANCE
• PRODUCT QUALITY
• WARRANTY
• PACKAGE, MATERIAL, SIZE, LABELING
• PRE-SALE, AFTER-SALE, SERVICE STANDARDS, SERVICE CHARGES

2.PRICE:- THE AMOUNT A CUSTOMER PAYS FOR THE PRODUCT. IT IS VERY IMPORTANT AS IT DETERMINES THE COMPANY'S PROFIT AND SURVIVAL. 

• PRICING POLICIES, MARGINS, DISCOUNTS AND REBATES
• TERMS OF DELIVERY, PAYMENT TERMS, CREDIT TERMS AND INSTALLMENTS
• PURCHASE FACILITIES, RESALE PRICE MAINTENANCE

3.PLACE:- REFERS TO PROVIDING THE PRODUCT AT A PLACE WHICH IS CONVENIENT FOR CONSUMERS TO ACCESS. REFERS TI THE POINT OF SALE. IN EVERY  INDUSTRY, CATCHING THE EYE OF CONSUMERS AND MAKING IT EASY FOR THEM TO BUY IT IS THE MAIN AIM OF A GOOD DISTRIBUTION OR PLACE STRATEGY.  

•   CHANNELS OF DISTRIBUTION, CHANNEL DESIGN, TYPES OF INTERMEDIARIES
• LOCATION OF OUTLETS
• TRANSPORTATION, WAREHOUSING, INVENTORY LEVEL, ORDER PROCESSING

4. PROMOTION:- THIS REFERS TO ALL THE ACTIVITIES UNDERTAKEN TO MAKE THE PRODUCT AND SERVICE KNOWN TO THE USER AND TRADE.  ALL OF THE METHODS OF COMMUNICATION THAT A MARKETER MAY USE TO PROVIDE INFORMATION TO DIFFERENT PARTIES ABOUT THE PRODUCT.

• SELLING EXPERTISE, SIZE  AND QUALITY OF SALES FORCE
• MEDIA MIX, VEHICLE, PROGRAMMES
• GIFT, PRICE OFF, COUPONS, CONTESTS, PRIZES, PUBLICITY.

CORPORATE STORY 5

AKSHUNA BAKSHI HAS STARTED HER OWN COMPANY "TRAVELISTA" LAST YEAR. SHE IS A GRADUATE IN MASS MEDIA AND COMMUNICATION FROM THE DELHI UNIVERSITY.  AS A CHILD, TRAVELS FOR BAKSHI MEANT CHANGE IN LANDSCAPE BUT IT ALSO MEANT LEAVING YOUR OLD FRIENDS BEHIND AND BEGINNING THE SEARCH FOR NEW FRIENDS. BAKSHI SAYS- "MY FATHER WAS IN THE DEFENSE SERVICES AND EVERY FEW YEARS, WE HAD TO RELOCATE TO AN ENTIRELY DIFFERENT PLACE. I FELT BAD AND I DID NOT LIKE THIS NOMADIC LIFE BUT AS I GREW UP AND UNDERSTOOD THE FACT THAT LEAVING DOES NOT MEAN END, IT ALSO MEANS KEEPING THE FRIENDS WHOM I AM LEAVING BEHIND CLOSER TO HEART. THUS, RELOCATING TO EVERY NEW PLACE MEANS LEARNING A NEW LANGUAGE, UNDERSTANDING CULTURE AND ENJOYING NEW EXPERIENCES. I ALWAYS WANTED TO DO SOMETHING OF MY OWN. MY MOTHER HAS TOLD ME THAT WHEN I WAS JUST SIX, I WANTED TO PUT UP A GOL GAPPA STALL OUTSIDE THE HOUSE. DURING MY GRADUATION, MY FRIEND AND I THOUGHT OF MAKING MONEY BY WRITING LOVE LETTERS AND SELLING THEM TO COLLEGE STUDENTS. IT DID NOT WORK OUT BECAUSE OF SOME LOGISTICS ISSUE OTHERWISE I WOULD HAVE BECOME A LOVE LETTER SPECIALIST." AFTER COMPLETING HER GRADUATION, BAKSHI PURSUED A COURSE IN CREATIVE, CULTURAL AND MEDIA INDUSTRY FROM KINGS COLLEGE, LONDON AND SHE FEELS THAT THE EXPERIENCE AND THE COURSE PLAY AN IMPORTANT ROLE IN SHAPING UP TRAVELISTA AND HER OWN IDEAS. DURING HER STAY IN LONDON, BAKSHI ALSO WORKED WITH BRITISH COUNCIL BUT DECIDED TO STAY ON AND START SOMETHING OF HER OWN.

          TRAVELISTA WAS FOUNDED IN 2012 AND THE IDEA WAS TO MAKE TRAVEL FILMS THAT PROMOTED THE CULTURAL SPIRIT OF THE PLACE, PROVIDE A PLATFORM FOR SEVERAL EXHIBITORS WHO ARE WORKING AROUND THE CULTURE AND TRADITION OF DIFFERENT PLACES, SCREEN TRAVEL FILMS, TRAVELS PHOTOGRAPHS ETC.

BAKSHI AGAIN SAYS- "LAST YEAR WE RECEIVED 200 FILMS ENTRIES AND AROUND 30 EXHIBITORS. A LOT OF TRAVELERS AND BACKPACKERS HAVE BECOME A PART OF TRAVELISTA NOW. AKSHAY CHUGNANI   OF INDIANBACKPACKER.COM IS ALSO THE PART OF TRAVELISTA THIS YEAR. I WOULD LIKE MORE AND MORE PEOPLE TO VISIT THE FAIR AS IT WILL NOT ONLY ENCOURAGE US AT TRAVELISTA BUT ALSO CREATE A SUSTAINABLE MODEL FOR MANY  OF OUR EXHIBITORS."

 TRAVELISTA FAIR ORGANISED FROM OCTOBER 11 TO 13 WAS BIGGER AND BETTER AS THERE WERE MANY MORE EXHIBITORS. OUT OF 700 TRAVEL FILMS RECEIVED  AND 30 SCREENED DURING THE THREE DAY EVENT.

LEADERSHIP

 

a  leader  is  a  person  who  has  a  clear and  long  term  vision.  he  acts  as  a motivational  force  for  sustainable growth  of  the  organization. he acts for  change  and  transforms  dreams  into  realities.  the  leader  must  be   a  man  of  high  integrity  to  be  able  to inculcate  the  right  value  system  in the  organization.  leaders  are  cultivated  with  perseverance,  confidence  building  and  delegation  of  responsibilities  and  duties.  leaders  are made  through  hard  work,  commitment,  dedication,  and  passion.  the  biggest  leadership  lesion  is  to  dream  and  dare.  we  need  to  work  really  hard  for  success.   a  leader  is  somebody  whom  people  follow  or  who  directs others . leadership  as  the  ability  to  influence  a  group  toward  the  achievement  of  a  vision  or  set  of  goals.

 good leaders are made not born. if you have the desire and willpower, you can become an effective leader. good leaders develop through a never ending process of self-study, education, training, and experience.

to inspire your workers into higher levels of teamwork, there are certain things you must be, know, and, do. these do not come naturally, but are acquired through continual work and study. good leaders are continually working and studying to improve their leadership skills.

leader must have an honest understanding of who you are, what you know, and what you can do. when people are deciding if they respect you as a leader, they do not think about your attributes, rather, they observe what you do so that they can know who you really are. they use this observation to tell if you are an honorable and trusted leader or a self-serving person who misuses authority to look good and get promoted. the basis of good leadership is honorable character and selfless service to your organization

Leadership is the ability to motivate individuals or teams, the creativity to try new things and the wisdom to anchor yourself in humility.

BRAND

    WHEN WE START A NEW COMPANY, WE HAVE TO FACE MANY PROBLEMS. WE FACE ALL PROBLEMS TO MAKE OUR COMPANY BRANDED. WE HAVE TO CREATE A GOOD MARKET OF OUR PRODUCT THROUGH LOW PRICE, ADVERTISEMENT, GOOD QUALITY, PROMOTION ETC. AND AFTER SOME YEARS WHEN OUR PRODUCT BECOME BRANDED, THEN NO NEED TO DO ALL THAT THINGS WHICH WE DONE IN STARTING PERIOD. BECAUSE NAME OF ANY BRAND IS ENOUGH TO SELL THE PRODUCT. WHEN CUSTOMER GO TO MARKET THEY TRY TO BUY BRANDED PRODUCT BECAUSE THEY KNOW THAT QUALITY OF BRANDED PRODUCT IS ALWAYS GOOD. AND THEY READY TO PAY MORE MONEY FOR BRANDED PRODUCTS. MIDDLE CLASS FAMILY HAS NO ENOUGH MONEY, BUT THEY ARE ALWAYS READY TO PAY FOR BRANDED PRODUCTS. FOR BRANDED COMPANIES IT IS EASY TO SELL THEIR PRODUCT BECAUSE OF THEIR NAME, AND THEY EARN MORE MONEY. DEMAND OF BRANDED PRODUCT IS INCREASING DAY BY DAY. ALL PEOPLE WANT TO USE BRANDED PRODUCTS.

         MALL IS A BIG REASON FOR INCREASING PROFIT OF BRANDED COMPANIES. PEOPLE ALWAYS WANT TO GO IN MALL FOR SHOPPING, BECAUSE PEOPLE GET MANY PRODUCT IN ONE PLACE. IN MY THINKING 90% PEOPLE OF BIG CITIES GO IN MALL, BECAUSE EVERYONE WANTS TO LIVE LUXURIOUS LIFE. WHEN ANY PRODUCT BECOME BRANDED, THEY STARTED TO EARN MORE PROFIT IN EASY WAY.

        BRANDED COMPANIES EARN PROFITS ALSO THROUGH STUDENTS. STUDENTS GO IN BIG CITIES FOR STUDY AND THERE ARE MANY MALLS IN BIG CITIES. THEY ALWAYS VISIT MALLS EVEN THEY HAVE TO BUY SOMETHING OR NOT. AND WHEN THEY VISIT THEY SEE MANY NEW AND STYLIST CLOTHS AND THEY BUY. THEY SPEND MONEY FREELY BECAUSE THEY DON'T EARN MONEY, THEIR PARENTS SEND HIM MONEY. SO THEY DON'T KNOW VALUE OF MONEY. IN BIG CITIES, MAXIMUM BOYS HAVE GIRLFRIEND AND GIRLS HAVE BOYFRIEND, AND THEY ALWAYS VISIT MALL AND BUY BRANDED CLOTHS. THEY GIVE PRIORITY TO PRODUCT, BRAND, QUALITY, FASHION NOT MONEY.

     THERE ARE MANY REASONS TO EARN PROFIT FOR BRANDED COMPANIES. SO IF YOU WANT TO OPEN NEW COMPANY, YOU NEED TO MAKE IT BRANDED AS SOON AS POSSIBLE.  

   

COCA-COLA

coca-cola is the most ubiquitous brand in history. it started in 1883 and it has successfully kept its brand relevant for over 100 years. people of 200 countries around the world drink some 1.2 billion 8-ounce serving of the cola,each day. revenues of coca cola in 2003 topped $21 billion. coke's first president, ASA CANDLER, printed coupons offering free first tastes of the coca cola drink, to gain new customers. he hired the company's first celebrity, music hall performer Hilda Clark, in the 1890s . during the heyday of mass-market TV advertising, coke was the master of the 30-second TV spot. its legendary "i'd like to buy the world a coke" and "Mean Joe Greene" ads were rated as two of the best ads ever by advertising age. during world war 2 when the army shipped cokes to soldiers in Europe and Asia, coke cemented its image as the "All-American beverage." but over time, coke realized it would need a more local feel in each country. the company uses different ad agencies in different countries in order to make the brand feel local.

coke also sells a wide range of different-flavored sodas in different countries. in 2004, coke launched a beer-flavored carbonated beverage in japan. coca-cola now gets two-third of its revenue from outside the united states. coca-cola remains the top global brand, achieving the top ranking in BusinessWeek's Global Brand Scorecard once again 2003. In Britain, coke's mycokemusic.com website lets surfers legally download over 250000 songs. 

   Chris Lowe, a coke marketing executive, explained how the company stays on top:" you can never betray the core values of the brand, but you can work to make those values fresh and relevant. if you can't speak to people in these times, then you become an old icon."

MUMBAI'S LOCAL FIXEERS

MUMBAI BASED REPAIRE FIRM THEEK KAR DO OFFERS TO SET YOUR HOUSEHOLD APPLIANCES RIGHT – FROM FAULTY AIR CONDITIONERS, REFRIGERATORS, AND TELEVISIONS TO CEILING FANS AND EVEN BROKEN WATER TAPS. IT WAS STARTED IN NOVEMBER 2012 WITH A SEED CAPITAL OF Rs 5 LAKH, BY SONAKSHI PRATAP,22, AND HARDIK SHAH,23, CA ALONG WITH BHAVISHYA PRATAP,18, AND SHANTANU KAMATH,17. CUSTOMERS CAN REGISTER COMPLAINTS ON THE FIRM’S WEBSITE OR CALL ITS HELPLINE. A FEE OF Rs 250 IS CHARGED IF THE CUSTOMER DOESN’T AVAIL OF ITS SERVICES, BUT THIS IS WAIVED IF THE TECHNICIAN REACHES MORE THAN TWO HOURS AFTER THE COMPLAINT WAS REGISTERED. BILLS VARY FROM Rs 750 TO Rs 3000 AND PRODUCTS ARE RETURNED WITHIN THREE DAYS WITH A 90 DAY SERVICE WARRANTY. SHAH SAYS CONVERSION RATES ARE AS HIGH AS 85-90% FOR DIRECT CALLING CUSTOMERS, AND 20% OF THOSE ARE ROUTED THROUGH DIRECTORY SERVICES.  NEW EMPLOYEES UNDERGO POLICE VERIFICATION AND ARE TRAINED IN SOFT SKILLS BEFORE BEING ASSIGNED WORK. IT PLANS TO SERVICE CELLPHONES SOON, BY THE END OF THIS YEAR.

CS4 NIRMA

Dr. Karsanbhai Patel started Nirma in 1969, and went on to create a whole new segment in the Indian domestic detergent market. During that time the domestic detergent market only had the premium segment and there were very few companies, mainly the MNCs, which were into this business. Karsanbhai Patel used to make detergent powder in the backyard of his house in Ahmadabad and carry out door to door selling of his hand made product. He gave money back guarantee with every pack that was sold. Karsanbhai Patel managed to successful detergent powder for Rs 3 per kg, when the cheapest detergent at that time was Rs 13 per kg. So he was able to successfully target the middle and lower middle income segment.
                Sabki pasand nirma.........................
Nirma became a huge success and all this was a result of Karsanbhai Patel's entrepreneurial skills. Karsanbhai Patel had good knowledge of chemicals and he came with nirma detergent which was a result of innovative combination of the important ingredients. Consumers now had a quality detergent powder having an affordable price tag. Nirma focused on cost reduction strategies to make a place for itself in the market. In the 1980 nirma moved ahead of surf, a detergent by HLL, to capture a large market share. Later, nirma ssuccessfully entered in the premium segment of soaps and detergent. Nirma went to become the largest detergent and the second largest soap company in india. Nirma had more than 35% market share in detergent segment and around 20% market share in the toilet segment. The company got listed on the stock exchanges  in the year 1994.

       According to forbes in 2005 karsanbhai patel's net worth was $ 640 m and it is going to touch the $ 1000 m mark soon.