Pre-Mid:
***********************************************************************
Caputuring Customer Value
Caputuring Value from Customer
Customer Relationship Management
Customer Satisfaction
Retention Customer Life Time Value
Notes:
[Link] Orgainization Chart
[Link] Management
[Link] Management
[Link] people
[Link]
[Link] Customer-Oriented Orgainizations Chart
[Link]
[Link] people
[Link] Management
[Link] Management
[Link] Shopping: [Link] head goes to shop in the same company
outlet to see how they are treated as a customer and how other customers give
feedback
[Link] Value Chain
[Link] Activities: Inbound Logistics, operations, Outbound
Logistics, Marketing and sales and Service
[Link] Activities: Firm infrastructure, Human Resource
Management, Technology Development and Procurement
[Link] -> Inbound Logistics and Outbound Logistics
[Link] Value Analysis:
[Link] major attributes and benefits that customers values
[Link] the qualitative importance of different attributes and
benefits (Prioritized)
[Link] and External Analysis on performances on different
customer values against rated importance
[Link] rating of specific segments
[Link] Customer value over time as they tend to change
frequently
[Link] Satisfaction:
[Link] Surveys
[Link] Loss Rate
[Link] Shoppers
[Link] Competitive Performance
[Link] Principle (80-20 Principle): 20% of customers give 80% of
revenue (Retain those customers)
[Link] Customer Lifetime Value:
[Link] Profitability (Customer-Product Profitablity Analysis)
[Link] Equity
[Link] Value
Simple CLV Formula = Annual Profit Contribution per
customer * Average number of years that they remain a customer - The initial Cost
of Customer Aquisition
[Link] Relationship Management (CRM): is a process of carefully
managing detailed information about individual customers and all customer touch
points to maximize customer loyalty
Framework of CRM:
[Link] prospects and customers
[Link] customer by need and value of company
[Link] to improve knowledge
[Link] for each customer
***********************************************************************
Creating Competitive Advantage and Competitive Strategies
[Link] Analysis (SWOT)
[Link] Competitors (Share of wallet)
[Link] Competitors (For Pepsi -> Coca-Cola, Big Cola, Thumbs up
and all other aerated drinks)
[Link] Competitors (For Pepsi -> Nimbu pani wala,etc)
[Link] their objectives
[Link] Leadership
[Link] Leadership
[Link] Profitability
[Link] Share Growth (Value or Volume)
[Link] Flow
[Link] Competitor's Strenghts and Weakness
[Link] (identifying best practices of other well
performing firms and improve quality and performance)
[Link] Competitor's Reaction Patterns
[Link] we do something, what will our competitors do?
[Link] how major competitors react gives the company's
activeness
[Link] are their strategies?
[Link] which competitors to attack or avoid
[Link] Intelligence System:
Competitive Strategies
Approached to Marketing Strategies:
[Link] Marketing
It involved visualizing an opportunity and constructing
[Link] Marketing
[Link] Marketing
Basic Competitive Strategies:
[Link] Porters Generic Strategies
The three winning strategies are as follows:
[Link] Cost Leadership
1) Company works hard to acheive the lowest
production and distribution cost
2)Low cost lets it decide lower price than its
competitors and win a large market share
[Link]
1)Company conectrated in creating a a highly
differentiated product line and marketing program so that it comes accross as the
class leader in the indsutry (Does Price Skimming)
[Link]
1)Taget segment is small
2)Provide Everything to that segment
3)Produce new products and hence innovation is needed
(adding to cost)
[Link] Disciplines for delivering superior customer values
[Link] Excellence
[Link] in Overall Cost Leadership and Differentiation
Strategies
[Link] cost factors thus decrease overall cost
[Link] an efficient value delivery system
[Link] Intimacy
[Link] superior value by precisely segmenting its
marketing and tailoring its products or services to exactly match the need of
targeted customers
[Link] be implemented on Focus Strategy as it also
targets a specific segment and tries to tailor its products or services as per
requirements of target customers
[Link] Leadership
[Link] leadership in terms of value of product by
providing a continuous stream of leading-edge products or services ([Link])
[Link] is the key to acheive Product
Leadership.
[Link] to new ideas and tries to finf more efficient
solutions and also takes efforts to get new products to market as soon as possible.
Competitive Positions:
[Link] Leader (40%): The firm in an indsutry with the largest market
share (Lion's Share)
Strategies:
[Link] Total market
[Link] new users (Example: Rural areas in case
of Technology)
[Link] and promoting new product users
[Link] greater product usage
[Link] new uses of the products and making
consumers aware of that. (Moncaco biscuits had created an ad in which it showed it
as starters with different types of topping on it)
[Link] market share (Giving rewards to Loyal customers)
[Link] or fix its weaknesses that can be exploited
by competitors
[Link] maintain a strong relationship with
customers by maintaining a good track record of delivering what was promised.
[Link] should be consistent
[Link] by continuous innovation new products or
quality of same products can be developed.
[Link] Marketing:
[Link] Marketing: Identify needs and
fulfill it
[Link] Marketing: Anticipate what could
be the needs of consumers and start acting on it currently.
[Link] Marketing: Discover solutions which
customer may not have asked for but they appreciate.
[Link] Marketing:
[Link] (HUL-Surf Exel) (Challengers:
Tide, Ariel)
[Link] (HUL-Wheel,Rin,Sunlight)
[Link] (Proactive steps are taken)
[Link]-Offensive (Steps are taken
against an attack from competitor)
[Link] (Market Broadening and Market
Diversification)
[Link]: Plan how to withdraw from
the market strategically so that if in future the firm needs to re-enter the
market, it still can as it had withdrew on good terms in past (Ex. Blackberry)
[Link] market share (attack on challenger's market share
by trying to acquire their customer base by giving discounts/offers, free trials,
free sampling)
[Link] Challenger (30%): A runner-up fighting to increase its market
share and challenging the market leader (Coca Cola - Market Leader and Pepsi -
Market Challenger)
Option 1: Challenge Market Learder
a)High-Risk but High-Gain
b)Sustainable competetive advantage over the leader is key
to success
c)Taking advantage of "second-mover advantage" to improve
and implement ideas which has made the market leader successful.
Option 2:
a)Challenging firms of the same size or smaller size or
challenge regional or local firms
Strategies:
[Link] the Market challenger should define its Strategic
objective so as to have a clear understanding on what exactly it wants (Ex.
Increase market share)
[Link] challlenger should also define competitors whom it
wants to target which are also known as opponents. (Ex. Market leader or other
similar size companies or small fishes)
[Link] it should plan a general attack strategy or a
specific attack strategy based on its objectives and opponents.
[Link] Attack Strategies:
[Link] Frontal Attack: Matches its opponents in
all prospects such as product, advertising, price and distribution ([Link]
v/s Colgate)
[Link] Attack: Identify what is going wrong
due to which the market leader is ahead and you are behind and then start
rectifying it immediately.
[Link] Attack: Main intention is to
break the grip of market leader on the market by attacking from multiple fronts at
the same time encircling the market leader.
[Link] Attack: Main intention is to attack
easier markets and capture the market leader's market share in those markets thus
increasing the firm's overall market share. (Ex. Diversifying into unrelated
products or into totally new geographical markets or leapfrogging into new
technologies)
[Link] Warfare: As the name suggests, it
consists of surprise attacks with small and intermittent attacks.
[Link] Attack Strategies:
[Link] Follower (20%): A runner-up firm that wants to hold its share
in the indsutry without rocking the boat (has less risk taking ability due to low
financial power)
Strategies:
[Link] closely
[Link] at a distance
[Link] Nicher (10%): A firm that serves small segments that the order
firms in an industry overlook or ignore (offers high value, Charge a premium price)
Strategies:
[Link] customer, market, quality-price, service
[Link] riching
Types of Defense Strategies:
[Link] - Surf Excel
[Link] - Introducing owm competition brands (Wheel, Rin Sunlight)
[Link] - playing the card before you do (SBI's ATM in rural
areas)
[Link] - If you attack me I attack you(Fedx and UPS)
[Link] - Market Broadening and Market Diversification)
[Link] - Planned Withdrawal (Blackberry did not suddenly
withdrew from the market, instead they informed market well in advance)
Balancing Customer
Competitor Orienatations
Business Markets and Business Buyer Behaviour
Global Marketing
Global Environment
Marketing Decisions
Marketing Orgainizations
Program
Rural Marketing
BOP
Characteristics of Rural Economy
Differences between rural urban and urban consumers
Potential in catering to rural consumers markets
Social (Not-for-Profit) Marketing
Key Characteristics
Multiple Stake holders
Transparency
Customer Perceptions types of not for-profit orgainizations
CEC2 (10marks): Integrated Market Communication (Overview/Feedback/Discussion on
the IMC based Assignment
[Link] Brand
[Link] used
[Link] worked
[Link] did not worked
[Link] they should do
-------------------------------------------------------------------------
Post-Mid:
**************************************************************************
