Marketing in a digital world.ppt

PRODUCT LEVELS COST PRICE WORTH VALUE  SOMETHING OLD, SOMETHING NEW: THE HISTORY AND FUTURE OF PRICING FUNDAMENTALS PRICING STRATEGIES THE BASIC IDEA Price Segmentation VALUE THE ROLE OF MARKETING COMMUNICATIONS The means by which firms attempt to inform, persuade, and rem...

PRODUCT LEVELS COST PRICE WORTH VALUE  SOMETHING OLD, SOMETHING NEW: THE HISTORY AND FUTURE OF PRICING FUNDAMENTALS PRICING STRATEGIES THE BASIC IDEA Price Segmentation VALUE THE ROLE OF MARKETING COMMUNICATIONS The means by which firms attempt to inform, persuade, and remind consumers about the products and brands they sell ELEMENTS IN COMMUNICATIONS PROCESS MARKETING COMMUNICATIONS MIX Advertising Online and social Sales promotion media marketing Events and Mobile marketing experiences Direct and Public relations database and publicity marketing Personal selling HOW DOES MARKETING COMMUNICATIONS WORK? STRATEGY DECISION SOURCE CELEBRITIES COST V/S CHARISMA STRATEGY DECISION THE MESSAGE DOES CULTURE AFFECT CONSUMPTION? DOES MARKETING INFLUENCE CULTURE? CORE INDIAN CULTURE CHANGING CULTURAL TRENDS CAN WE MEASURE CULTURE??  CHANGE IN SOCIAL/CULTURAL VALUES AND ATTITUDINAL FUNCTIONS WITH TIME ttps://www.youtube.com/watch?v=dG9Hx_UpE-8  CULTURE AS A BRAND ANCHOR https://www.youtube.com/watch?v=YG8-Yb3utHM DO INDIANS DRINK COLD MILK?? CAN A BRAND HAVE A PROPOSITION THAT IS AGAINST THE MAINSTREAM CULTURE? SO WHAT?? CULTURE-CONSUMPTION- BRANDS—CHANGE? Cross-Cultural Communication DESIGNING AND MANAGING INTEGRATED MARKETING CHANNELS MARKETING MIX 3D PRINTING PRODUCT – CO-CREATION HOW DOES CO-CREATION HAPPEN? MOTIVATION TO ENGAGE Social Recognition Financial rewards TYPES OF CO-CREATION SELECTION ACTIVITY CUSTOMER LED FIRM LED Fixed (Low) Open (High) CONTRIBUTION ACTIVITY (Control) COLLABORATING AND TINKERING CO-DESIGNING AND SHARING WHEN AND HOW TO CROWD SOURCE? Labor Markets Complemen Collaborative tors communities Contests THE ROLE OF MARKETING COMMUNICATIONS PROMOTION- USER GENERATED CONTENT ALEXA VIRTUAL INFLUENCERS WHERE DO I SEEK VALUE? 76 ARE NOT ONLY CAPABLE OF REPLACI NG THE RETAILE R, BUT THE ENTIRE DISTRIBU TION DISTRIBUTI ON CHANNELS THAT TRANSPOR T PHYSICAL GOODS TO SHORT DISTRIBUTI ON CHANNELS THAT WHAT’S EMERGING?? THE OMNICHANNEL REVOLUTION WHAT' S CHANG ING? PAY WHAT YOU WANT (PWYW) DO PEOPLE ACTUALL Y PAY Customers want to get as much as they can for as little, little as they have to pay. WHEN Norms of honesty and fairness. THEY DON'T HAVE TO? HOW Some people actually paid more than the firm would attain using a typical CAN A price. FIRM PWYW gets a lots of attention. Results in increased traffic and higher MAKE customer volume. MONEY?  More likely to succeed If  it's offered for a limited duration IS PWYW  available to a small subset of firm's product offerings SUSTAIN  or limited to a certain set of buyers. ABLE?  A digital platform that provides shoppers with the ability to easily compare prices across a set of retailers that can be both online as well as PRICE physical retailers. COMPARI Especially important for expensive products Customers have even more power SON  mobile platform  compare prices before going to a store TOOL  compare prices while shopping at a store.  WHAT FEATUR ES DO Retailer and Product reviews THESE  Information on comparative prices TOOLS  Shipping costs  Product reviews and photos TYPICAL  Seller details LY OFFER?  Free to use Earn money through advertising. HOW DO Vendors pay a fee to have their products listed. THEY Easy to use WORK? Price data for these sites can come from a variety of different sources DO THESE TOOLS REALLY SAVE CUSTOMERS MONEY? PRICING STRATEGY OF THE FUTURE  THE FUTURE OF PRICING IS CUSTOME R CENTRIC PERSONALISE D PRICING, THE FUTURE OF DYNAMIC PRICING