INNOVATIONS IN MARKETING

New Trends In Marketing Field, Megamarketing ,Mass Marketing, Demarketing, Viral Marketing, Word of mouth marketing, WOMM, Markekting -Trends & Innovations

1. INNOVATIONS IN MARKETING KRISHNA RAJ N S MBA ABM KERALA AGRICULTURAL UNIVERSITY

2. “ Companies must pay attention to the fact that customers are getting more educated and have better tools to buy with more discrimination. Customer is the king ” - Philip Kotler 2

3. WHAT IS MARKETING ? According to Philip Kotler (Marketing Expert) Marketing is the art and science of exploring , creating and delivering value to satisfy the needs of a target market at a profit Marketing identifies unfulfilled needs and desires and then treat them with appropriate solutions 3

4. What is innovation ? Turning an idea into a solution that adds value from a customer’s perspective -Nick Skillicorn (Innovation expert) Introduction of new products and services that add value to the organization -Kevin McFarthing (Innovation consultant) 4

5. INNOVATIONS IN FIELD OF MARKETING 5

6. INNOVATIONS IN FIELD OF MARKETING ( Cntd . ) 6

7. OPPOSITE OF MARKETING = DEMARKETING DEMARKETING ( Reverse Marketing) Demarketing is a situation which may come about as a result of temporary shortages occasioned by short term excess demand for a company's products -Kotler and Levy It concerned with finding ways to reduce the demand temporarily or permanently 7

8. Examples TATA NANO : When demand of Nano exceeded supply, TATA started marketing their other products and completely stopped promotion of NANO cars 8

9. Examples Ad Campaigns against smoking / Water Spoilage 9

10. META MARKETING Term coined by E.J.Kelly (Mediator with Hopkins & Huebner) “Synthesis of all managerial, traditional , scientific, social and historical foundations of marketing” Meta Marketing brings all buyers and sellers in one place for one purpose 10

11. Examples Purchase of some products necessitates other purchases New automobile market , where buying a new car , calls for the purchase of insurance , getting a loan from the bank Other e.g. Wedding Buying a home 11

12. MASS MARKETING A marketing strategy in which a firm decided to ignore market segment differences and appeal the whole market with one offer or one strategy Producing the same product for all the customers (Opposite to differentiated/ segmented marketing) OPPOSITE OF SEGMENTED MARKETING = MASS MARKETING 12

13. A nationwide advertisement in TV Advertisements of FMCG products Examples 13

14. A marketing strategy required when it is necessary to manage the firms external environment ( Govt. , Media, Pressure Groups etc.) It requires public relations an power MEGA MARKETING 14

15. PEPSI ’s entry to Indian market First they faced a lot of objections (From Govt. & other sources) But they helped the country in many ways ( rural d evelopment, contribution to agricultural research etc.) that facilitated its Indian market entry . Examples 15

16. It occurs usually between companies When companies agree to market each other’s products or services Or when a company does something free for customers and a percentage of these customers reciprocate by buying from that company RECIPROCAL MARKETING 16

17. Showing ads while watching free videos in YouTube Giving free trials of products to promote buying them Examples 17

18. The process of developing a themed exhibit , display or presentation to promote a product, service, cause or organization leveraging in-person engagement. Objective : Convert any event that has mass appeal into a marketing tool EVENT MARKETING ( AMBUSH MARKETING) 18

19. PUSHKAR MELA –RAJASTHAN THRISSUR POORAM EXHIBITION SPONSORING A WORLD CUP TOURNAMENT ( e.g. VIVO IPL ) Examples 19

20. A strategy in which marketer provides a product with an envelope of service Objective : Increase value to the product for winning customers loyalty E.g. Aqua guard provides a water purifying machine with service every 6 months. Customer service facility ( 24X7 helplines) MORPH MARKETING 20

21. An advertisement strategy that promotes products or services in an unconventional way with a little budget to spend The activities are done exclusory on the streets or other public places, with maximum people access so as to attract bigger audience at low cost Guerrilla marketing 21

22. FLASH MOBS PUBLICITY STUNTS TREASURE HUNTS Examples 22

23. Oral or written recommendation / discouragement by a satisfied/ dissatisfied customer to the prospective customer of a product / service WORD OF MOUTH MARKETING (WOMM ) 23

24. A method of marketing whereby consumers are encouraged to share information about a company's products or services over internet It utilizes social media , text media and other e-services like email to spread information abut a product or service VIRAL MARKETING Internet version of WOMM 24

25. THANK YOU FOR YOUR ATTENTION  25