Fast Track Management Consultants Consulting I HR Recruitments I Outsourcing I Training

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1 We Help You Grow >> Fast Track Management Consultants Consulting I HR Recruitments I Outsourcing I Training ( A division of Fast Track Corporate Solutions Pvt Ltd ) Mobile : santoshk@fasttrackconsultants.com

2 About - Fast Track Management Consultants Fast Track Management Consultants (A division of Fast Track Corporate Solutions Pvt Ltd) is a young, dynamic and fastest growing Management Consulting, HR Recruitments, Outsourcing and Training services providing organization driven by knowledge, integrity and performance and committed to customer delight. We are one stop corporate solutions provider company, having headquarter at Pune, India. Our offerings span Management Consulting, Business plan and strategy formulation, HR Recruitments, Outsourcing and Training services to corporate sector. Our services have developed based on over 18 yrs of industrial experience, international best practices and learning's from number of assignments executed by us and are adapted to suit our clients businesses. Be it the right Business plan and strategy for your organization, or a productivity and business performance improvements, or effective manpower planning and recruitment services or outsourcing of critical functions, or solutions for your corporate training needs, our services are customized and made suitable. just for you. Our business consulting and outsourcing services help accelerate innovation, increase productivity, reduce costs and optimize asset utilization in order to achieve consistent sales growth and profitability. Our HR Recruitments services will help you to identify and recruit the best talent with the relevant experience at fast speed. Our drive - We Help You Grow >>

3 Fast Track - Santosh Kasture Santosh Kasture is a highly result oriented and successful corporate professional, Business growth consultant, Management process leader, Entrepreneur, Author, Corporate trainer and Public speaker on Business and Management. As a Management thinker and executor he specialize in the areas of Strategic Vision, Business planning, Leadership, Benchmarking, Performance management and Manufacturing operations techniques. He is Mechanical Engineer with a Masters in Operations and Management from Pune University. He is also a post-graduate in materials management from IIMM, Bangalore. He has two decades of industry experience working as a top management team member in India and abroad with world s leading MNC's - in different functions like Corporate strategy and planning, Profitability, Manufacturing operations, Purchase and SCM, Branding and product management, Sales and marketing and International business management. He is having wide international business experience and frequently travelled more than 30 countries including USA, UK, France, UAE, Oman, South Korea, Singapore, Malaysia, China and others. He is a management consultant and associated with aspiring and growth oriented MSME's and some of the best-known companies in India and abroad. He believes that the people, process, product and performance (4P) are the key ingredients for the success of any organization. He founded the Fast Track Corporate Solutions Pvt Ltd to help the organizations to explore their true potential, be committed and focused in their approach and work and achieve the desired goals consistently by managing the 4P's effectively. Active as a corporate trainer and Guest faculty with leading Management institutes in India, he has vast experience in classroom training as well as outdoor training programs. Has taken sessions at all management levels in corporate/institutes on Strategic vision, Business planning and strategy, Profitability thru focus, Goal and Role setting for Growth, Leadership, Lean manufacturing, Supply chain management, Time management, Negotiation skills, Branding and Marketing, Selling skills, Teamwork and Team Building, Communication and Behavioral skills and other areas.

4 Marketing and Brand Management By Santosh Kasture 4

5 Index Brand and Brand Management What is Brand? Brand Recognition Brand Awareness and Brand Promise Brand Identity and Brand Equity Brand Management India s & World s Top 10 Brands Marketing and Marketing Management What is Marketing? Evolution of Marketing 7P s of Marketing Marketing analysis and research Market segmentation Marketing Planning and Strategy Marketing performance Management Marketing Dominance Presented by - Santosh Kasture 5

6 What is Brand? A brand is the identity of a specific product, service or business. A brand can take many forms, including a name, sign, symbol, color combination or slogan. A legally protected brand name is called a Trademark. The word brand has continued to evolve to encompass identity - it affects the personality of a product, company or service. In the automotive industry, brands were originally called marques, and marque is still often used as a synonym for brand in reference to motor vehicles The experiential aspect consists of the sum of all points of contact with the brand and is known as the brand experience. The psychological aspect, sometimes referred to as the brand image, is a symbolic construct created within the minds of people, consisting of all the information and expectations associated with a product, service or the company(ies) providing them. Presented by - Santosh Kasture 6

7 Brand Recognition A brand which is widely known in the marketplace acquires brand recognition. When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiment in the marketplace, it is said to have achieved brand franchise. One goal in brand recognition is the identification of a brand without the name of the company present. Consumers may look on branding as an important Value added aspect of products or services, as it often serves to denote a certain attractive quality or characteristic. From the perspective of brand owners, branded products or services also command higher prices. Where two products resemble each other, but one of the products has no associated branding, people may often select the more expensive branded product on the basis of the quality of the brand or the reputation of the brand owner. Presented by - Santosh Kasture 7

8 Brand Awareness & Brand Promise Brand awareness refers to customers' ability to recall and recognize the brand under different conditions and link to the brand name, logo, jingles and so on to certain associations in memory. It helps the customers to understand to which product or service category the particular brand belongs and what products and services are sold under the brand name. Brand awareness is of critical importance since customers will not consider your brand if they are not aware of it. Brand promise is what a particular brand stands for (and has stood for in the past). It has its roots from the identity that it gains over a period of time. Usually, brand promise is an attribute common to 'Parent' brands. Herein, the brand may broadly stand for Quality, Performance, Trust, or False promises. However, the extensions, or the brands under the parent brand umbrella, may stand individually for a particular trait which it has delivered over the years Presented by - Santosh Kasture 8

9 Brand Identity Brand Identity is the outward expression of a brand, including its name, trademark, communications, and visual appearance. Brand identity is what the owner wants to communicate to its potential consumers. Because the identity is assembled by the brand owner, it reflects how the owner wants the consumer to perceive the brand - and by extension the branded company, organization, product or service. Brand identity is in contrast to the brand image, which is a customer's mental picture of a brand. The brand owner will seek to bridge the gap between the brand image and the brand identity. Effective brand names build a connection between the brand personality as it is perceived by the target audience and the actual product/service. The brand name should be conceptually on target with the product/service. Brand identity is fundamental to consumer recognition and symbolizes the brand's differentiation from competitors. Presented by - Santosh Kasture 9

10 Global and Local Brands A global brand is one which is perceived to reflect the same set of values around the world. Global brands transcend their origins and create strong enduring relationships with consumers across countries and cultures. They are brands sold in international markets. Examples of global brands :- Facebook, Apple, Coca-Cola, McDonald's, Mastercard, Philips, Goodyear, Samsung and Sony. A Local brand is one which is sold and marketed (distributed and promoted) in a relatively small and restricted geographical area. A local brand is a brand that can be found in only one country or region. It may also be a brand that is developed for a specific national market. Examples of local brands :- Britannia, Onida, Chitale, Gits Presented by - Santosh Kasture 10

11 Multi Brands and Private label Brands In a market that is fragmented amongst a number of brands a supplier can choose deliberately to launch totally new brands in apparent competition with its own existing strong brand, simply to soak up some of the share of the market which will in any case go to minor brands. Individual brand names naturally allow greater flexibility by permitting a variety of different products, of differing quality at different prices in different market segments. Examples - Bajaj, Videocon and General Motors With the emergence of strong retailers, private label brands, also called own brands, or store brands, also emerged as a major factor in the marketplace Where the retailer has a particularly strong identity this Private label / "own brand" may be able to compete against even the strongest brand leaders, and may outperform those products that are not otherwise strongly branded. Examples - Croma Electronics & appliances, Future group brands Presented by - Santosh Kasture 11

12 Brand Equity Brand equity refers to the marketing effects and outcomes that accrue to a product with its brand name. Because of the well known brand name the company some time charges premium prices from the consumer. Brand equity is one of the factors which can increase the financial value of a brand to the brand owner. Elements that can be included in the valuation of brand equity include : changing market share, profit margins, consumer recognition of logos and other visual elements, associations made by consumers, consumers' perceptions of quality and other relevant brand values. Brand equity can be positive or negative. Presented by - Santosh Kasture 12

13 Brand Implementation Brand implementation refers to the physical representation and consistent application of brand identity across visual and verbal identity carriers. In visual terms, this can include signage, uniforms, liveries, interior design and branded merchandise. Brand implementation is now a critical discipline focused on binding the relationship between the target audience and the brand. Beyond having an impactful, consistent, and meaningful design, environmental branding must also have functional value to aid in brand identification, day and night visibility, merchandising and traffic flow. Presented by - Santosh Kasture 13

14 Brand Management The art of creating and maintaining a brand is called brand management. Orientation of the whole organization towards its brand is called brand orientation. Brand management is the application of marketing techniques to a specific product, product line, or brand. Branding is also widely being done via E-Branding to promote the business's product or services. Business owners use multiple facilities already available on the web to sensitize and promote their business. Examples of E-brandings: - Blogs, Social Media, Search Engine optimisation A brand audit may be undertaken as a comprehensive assessment of an organization s brand, in which it s strengths and weaknesses are assessed and opportunities are determined. The purpose of a brand audit is to capitalize on the opportunities in efforts to improve the various elements of an organization s brand in both management and marketing perspectives. Presented by - Santosh Kasture 14

15 India s Top 10 Brands Nokia mobile phones Colgate Lux Dettol Britania Lifebouy Clinic plus Pond s Fair & Lovely Pepsodent Source - ET Presented by - Santosh Kasture 15

16 World s Top 10 Brands Coca Cola Microsoft IBM GE Intel Nokia Toyota Disney Mc Donalds Mercedes Benz Source :- Survey Presented by - Santosh Kasture 16

17 What is Marketing? Marketing is the process of performing various forms of market research, selling products and/or services to customers and promoting them via advertising to further enhance sales. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves. It generates the strategy that underlies sales techniques, business communication and business developments. Philip Kotler defines marketing as 'satisfying needs and wants through an exchange process' Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably. Marketing is used to identify the customer, to satisfy the customer, and to keep the customer. Presented by - Santosh Kasture 17

18 Evolution of Marketing Orientation Profit driver Production Production methods Product Selling Marketing Quality of the product Selling methods Needs and wants of customers Western European timeframe until the 1950s until the 1960s 1950s to 1970s 1970 to present day Description A firm focusing on a production orientation specializes in producing as much as possible of a given product or service. A production orientation may be deployed when a high demand for a product or service exists, coupled with a good certainty that consumer tastes will not rapidly alter (similar to the sales orientation). A firm employing a product orientation is chiefly concerned with the quality of its own product. A firm would also assume that as long as its product was of a high standard, people would buy and consume the product. A firm using a sales orientation focuses primarily on the selling/promotion of a particular product, and not determining new consumer desires as such. Consequently, this entails simply selling an already existing product, and using promotion techniques to attain the highest sales possible. Such an orientation may suit scenarios in which a firm holds dead stock, or otherwise sells a product that is in high demand, with little likelihood of changes in consumer tastes diminishing demand. The 'marketing orientation' is perhaps the most common orientation used in contemporary marketing. It involves a firm essentially basing its marketing plans around the marketing concept, and thus supplying products to suit new consumer tastes. As an example, a firm would employ market research to gauge consumer desires, use R&D to develop a product attuned to the revealed information, and then utilize promotion techniques to ensure persons know the product exists Presented by - Santosh Kasture 18

19 Evolution of Marketing Orientation Profit driver Western European timeframe Description Relationship marketing/ Relationship management Business marketing / Industrial marketing Building and keeping good customer relations Building and keeping relationships between organizations 1960s to present day 1980s to present day Emphasis is placed on the whole relationship between suppliers and customers. The aim is to provide the best possible customer service and build customer loyalty. In this context, marketing takes place between businesses or organizations. The product focus lies on industrial goods or capital goods rather than consumer products or end products. Different forms of marketing activities, such as promotion, advertising and communication to the customer are used. Social marketing Benefit to society 1990s to present day Similar characteristics as marketing orientation but with the added proviso that there will be a curtailment of any harmful activities to society, in either product, production, or selling methods. Branding Brand value 2000s to present day In this context, "branding" is the main company philosophy and marketing is considered an instrument of branding philosophy. Presented by - Santosh Kasture 19

20 7P s of Marketing Product Pricing Place ( Channels / Distribution ) Promotion Packaging Positioning People Presented by - Santosh Kasture 20

21 7P s of Marketing - Product Product marketing deals with more outbound marketing tasks. Product marketing deals with marketing the product to prospects, customers and others. Product market is something that is referred to when pitching a new product to the general public. The people you are trying to make your product appeal to is your consumer market. Product marketing in a business addresses five important strategic questions: What products will be offered? Who will be the target customers? How will the products reach to customers? (i.e. the distribution channel) At what price should the products be offered? How will customers be introduced to the products? (i.e. advertising media) Presented by - Santosh Kasture 21

22 7P s of Marketing - Pricing Pricing is the process of determining what a company will receive in exchange for its products. Pricing factors are material cost, manufacturing cost, market place, competition, market condition and quality of product. A well chosen price should do three things:- achieve the financial goals of the company (e.g. Profitability) fit the realities of the marketplace (Will customers buy at that price?) support a product's positioning and be consistent with the other variables in the marketing mix Pricing can be approached at three levels. i.e. Industry, market and transaction level. Presented by - Santosh Kasture 22

23 7P s of Marketing - Place / Distribution Distribution is also a very important component of Logistics & Supply chain management. Distribution in supply chain management means the distribution of good from one business to other it can be factory to supplier, supplier to retailer or retailer to the end customer. Channel Sales is nothing but a chain to market a product through different sources. Types of Marketing Channels :- Intensive distribution - Where the majority of resellers stock the 'product' (for example - the brand leaders in consumer goods markets) Selective distribution - This is the normal pattern where 'suitable' resellers stock the product. Exclusive distribution - Only specially selected resellers or authorized dealers (typically one per geographical area) are allowed to sell the 'product'. Presented by - Santosh Kasture 23

24 7P s of Marketing - Promotion Promotion is one of the important element of marketing mix (product, price, promotion, distribution). It is the communication link between sellers and buyers for the purpose of influencing, informing, or persuading a potential buyer's purchasing decision. The following are two types of promotion:- 1) Above the line promotion: Promotion in mass media (e.g. TV, Radio, newspapers, internet, mobile phones ) in which the advertiser pays an advertising agency to place the advertisement 2) Below the line promotion: All other promotion. (e.g. sponsorship, product placement, testimonials, sales promotion, merchandising, direct mail, personal selling, public relations, trade shows ) Basic objectives of promotion are :- To present information to consumers as well as others To increase demand To differentiate a product. Presented by - Santosh Kasture 24

25 Key to Success - Customer Orientation A firm in the market economy survives by producing goods that persons are willing and able to buy. Consequently, ascertaining consumer demand is vital for a firm s future viability and even existence as a going concern. Many companies today have a customer focus (or market orientation). This implies that the company focuses its activities and products on consumer demands. Generally, there are three ways of doing this: Customer-driven approach, Market change identification approach and Product innovation approach 4P s of Customer Focus :- Product Price Place Solution Value Access Promotion Information Presented by - Santosh Kasture 25

26 Marketing Management Marketing Management is a business discipline which is focused on the practical application of marketing techniques and the management of a firm's marketing resources and activities. Marketing management in short is the application, tracking and review of a business marketing resources and activities. Effective marketing management will use a company's resources to increase its customer base, improve customer opinions of the company's products and services and increase the company's perceived value. Marketing management often finds it necessary to invest in research to collect the data required to perform accurate marketing analysis. Presented by - Santosh Kasture 26

27 What is Marketing Management? Understanding the economic structure of your industry. Identify segments within your market. Identify the Marketing strategy /Target market which best fits your company. Do marketing research to develop profiles (demographic, psychographic, and behavioral) of your core customers. Understand your competitors and their products. Develop new products. Understand your company's strengths and weaknesses. Audit your customers' experience of your brand in full. Develop marketing strategies for each of your products. Create a sustainable competitive advantage ( USP ). Understand where you want your brands to be in the future and write/evaluate marketing plans on a regular basis to help you get there. Setup feedback system ( MIS ) to help you monitor and adjust the process. Presented by - Santosh Kasture 27

28 Marketing Analysis Marketing analysis is structured into three areas ( 3C s analysis ) : Customer analysis, Company analysis and Competitor analysis In Customer analysis, marketers develop a schematic diagram for market segmentation, breaking down the market into various constituent groups of customers, which are called customer segments or market segmentation's. In Company analysis, marketers focus on understanding the company's cost structure and cost position relative to competitors, as well as working to identify a firm's core competencies and other competitively distinct company resources. In Competitor analysis, marketers build detailed profiles of each competitor in the market, focusing especially on their relative competitive strengths and weaknesses using SWOT analysis. Presented by - Santosh Kasture 28

29 Marketing Research Marketing research involves conducting research to support marketing activities, and the statistical interpretation of data into information. Marketing researchers use statistical methods such as quantitative research,qualitative research, hypothesis tests,linear regression, correlations, frequency distributions, binomial distributions etc. to interpret their findings and convert data into information. The marketing research process spans a number of stages, including the definition of a problem, development of a research plan, collection and interpretation of data and disseminating information formally in the form of a report. A distinction should be made between marketing research and market research. Market research pertains to research in a given market. In contrast, marketing research relates to all research conducted within marketing. Thus, market research is a subset of marketing research. Presented by - Santosh Kasture 29

30 Market Segmentation Market segmentation pertains to the division of a market of consumers into persons with similar needs, wants and demand characteristics. Market segmentation is a strategy that involves dividing a larger market into subsets of consumers who have common needs and applications for the goods and services offered in the market. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment. Market segmentation can increase marketing opportunities when customer groups with varying needs and wants are recognized. Your value proposition must be relevant to your target market. Four basic factors that affect market segmentation are :- (1) clear identification of the segment, (2) measurability of its effective size, (3) its accessibility through promotional efforts and (4) its appropriateness to the policies and resources of the firm. Presented by - Santosh Kasture 30

31 Marketing Planning The marketing planning process involves forging a plan for a firm's marketing activities. A marketing plan can also pertain to a specific product, as well as to an organization's overall marketing strategy. Generally speaking, an organization's marketing planning process is derived from its overall business strategy. Presented by - Santosh Kasture 31

32 Marketing Planning - Process Presented by - Santosh Kasture 32

33 Marketing Planning Model Marketing Planning Model Presented by - Santosh Kasture 33

34 Marketing Strategy Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy should be centered around the key concept that customer satisfaction is the main goal. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. A key component of marketing strategy is often to keep marketing activity in line with a company's Vision and mission statement. Presented by - Santosh Kasture 34

35 Marketing Strategy Presented by - Santosh Kasture 35

36 Marketing Performance Measurement Marketing Performance Measurement ( MPM ) is a term used by marketing professionals to describe the analysis and improvement of the efficiency and effectiveness of marketing. It involves the creation of a metrics framework to monitor marketing performance and then develop and utilize marketing dashboards to manage marketing performance. It focuses on measuring, managing and analyzing marketing performance to maximize effectiveness and optimize the return of investment (ROI) of marketing. Three elements play a critical role in managing marketing performance - data, analysis and metrics Presented by - Santosh Kasture 36

37 Marketing Performance Measurement Presented by - Santosh Kasture 37

38 Marketing Ethics Marketing ethics is the area of applied ethics which deals with the moral principles behind the operation and regulation of marketing. Presented by - Santosh Kasture 38

39 Marketing Dominance Market dominance is a measure of the strength of a brand, product, service or firm, relative to competitive offerings. In defining market dominance, you must see to what extent a product, brand, or firm controls a product category in a given geographic area. There are several ways of calculating market dominance. The most direct is market share. This is the percentage of the total market serviced by a firm or brand. A company, brand, product, or service that has a combined market share exceeding 50% most probably has market power and market dominance. A market share of over 35% but less than 50%, held by one brand, product or service, is an indicator of market strength but not necessarily dominance. Few Market dominant products - Adobe Flash, Apple ipod, Microsoft Windows, Face book, Google, Intel etc Presented by - Santosh Kasture 39

40 Brand and Marketing Management books Marketing Management - Philip Kotler Trust Agents - Chris Brogan Managing for stakeholders - R. Edwards Rich Dad Poor Dad - Robert T Kiyosaki Eating the big fish - Adam Morgan Fusion branding - Nick Wreden Building brand identity - Lyn Upshaw Why we Buy - Paco Underhill Best practice in customer service - Ron Zemke The strategy and tactics of pricing - Thomas Nagle Presented by - Santosh Kasture 40

41 Think Business Growth.Think Fast Track>> We Help You Grow >> Pls drop in a for all your corporate training needs - santoshk@fasttrackconsultants.com Copyright. All rights reserved by Fast Track Corporate Solutions Pvt Ltd.