CONCEPT OF MARKETING Presentation 4.2.2
Marketing of Premium Services • What is Marketing? • It is a human activity to satisfy need, want & intension of a customer through exchange. • It is an activity from production to consumption by fulfilling needs, wants & intensions of the customers.
Marketing of Premium Services: Cont… • Marketing can be explained as under: • Marketing is getting right goods and services by the right people at the right places at the right time. • Marketing is building relationship with the customers. • Marketing is a art of creating & satisfying customer. • Marketing is a total approach for running a company and building a business.
Marketing of Premium Services: Cont... Difference between Selling & Marketing:
Marketing of Premium Services: Cont… • What are we Marketing? • Services • What is easy to Market? • Services or physical goods. • Conclusion: • To sale services is difficult than physical goods.
Marketing of Premium Services: Cont… • What do we need to possess for Marketing? • Principles of Marketing. • -- Product • -- Price • -- Place • -- Promotion (Personal Selling, Advertising, Publicity, • Sales Promotion) • -- Fifth ‘P’ stands for packaging but with different opinions. • - Political Power • - Public Relation • - Probing (Market Research)
Marketing of Premium Services: Cont… Marketing Mix: -- Power -- Potential -- Passion (Aggression) -- Proactive (Act of Responsibility) -- People -- Attitude -- Path -- Language
Marketing of Premium Services: Cont… How will you present your product before a customer? S - Strengths W - Weaknesses O - Opportunities T - Threats
Marketing of Premium Services: Cont… • SWOT Analysis of “Speed Post” • Our Strengths:- • Large Network:(266 Domestic Centres and 99 International • Countries) • Reliable • Legal • Brand name • Free Pick up (3) • Credit Facility (5000) • 24 hr service • Insurance cover (up to 1 lakh) • Special discount (Rebate) • Economical Tariff • International Tariff is most economical Cont…
Marketing of Premium Services: Cont… • SWOT Analysis of “Speed Post” • Contractual Service (5) • Deposit A/c facility • Fast Transmission (Air & Express Trains) • Time bound delivery • Free home delivery • Proof of delivery • Franked articles accepted • Track & Trace facility is offered (www.indiapost.gov.in) • Refund • Compensation • Collection Agents • Business offered counts towards national revenue.
Marketing of Premium Services: Cont… • Our Weaknesses: • Negotiations – no scope • Dependent on others for transportation. • Consumed much of our time in procedure i/o performing job • (e.g. preparation of delivery slip) • Lack of professional approach • Inadequate computerization • Handling of complaints • -- Insist in writing • -- Lot of time is consumed • -- Interim reply – Generally not given • Cont…
Marketing of Premium Services: Cont… • Our Weaknesses: • POD is not handled carefully • Presentation of International SPA – Open • Non supply of Packing material • Binding customer to write pin code • Lack of qualified staff • POD charged at single rate • BNPL customer is asked to book his own articles. • Lack in providing customer comfort.
Marketing of Premium Services: Cont… Opportunities: Most of our revenue is through retail customers. Addition of thousand retail customers can’t earn good revenue for the organization but if tens of giants / corporate customers / multinationals / bulk customers are attracted, a fast multiplication is possible which will earn large business and revenue for the organization. Therefore, we have to target the opportunity of giants in the market.
Marketing of Premium Services: Cont… • Threats: • No more a monopoly • Stiff competition from: • -- Couriers • -- Telephone • -- e-Mail • -- Banking Services • -- LIC • -- Parcel Services (Run by Pvt. Operators, Rail, ST) • Multiple options available to the customer. • We are customer dependent.