Enterprise Marketing Lecture Notes

Goal Setting

• Definition: Establishing objectives to guide actions.

Marketing Strategy

• Components:
  • Product
  • Price
  • Place
  • Promotion

Marketing Mix

• As per W.J. Stanton, marketing mix consists of the four inputs:
  • Product
  • Price
  • Place
  • Promotion

Distribution Channels

• Shortest Channel: Producer to consumer (Direct channel-zero level).
  • Involves no middlemen.

Sales Strategy Components

• Plan to position the product/brand for competitive advantage.
• Target market focus.
• Knowledgeable sales personnel targeting consumers effectively.

Branding

• Differentiates products/services from competitors.
• Importance of Logo: Key for brand identity.

Tagline

• Short sentence delivering a powerful message.
  • Example: Samsung's "Next is Now" for mobile launch.

Packaging

• Provides competitive advantage, especially in consumer goods.
• Functions include safety, moisture protection, appearance.

Labelling

• Displays product-related information.

Advertising

• Definition: Paid communication to create consumer desire.
• Purpose: Target and persuade potential customers.

Negotiation

• Process for mutually acceptable solutions among parties with different goals.

Customer Relationship Management (CRM)

• Manages customer information to improve loyalty.

Business Failure Indicators

• Cessation of operations due to financial or operational issues.

Promotion Strategies

• ATL (Above-the-line): Mass media channels.
• BTL (Below-the-line): Targeted strategies.
• TTL (Through-the-line): Combines ATL and BTL for broader reach.

SMART Goals

• Specific: Well-defined.
• Measurable: Trackable progress.
• Attainable: Realistic targets.
• Relevant: Market-relevant goals.
• Time-Based: Set timelines.

Pricing Strategies

• Penetration Pricing: Low initial price to attract customers.
• Skimming Pricing: High initial price to recover costs quickly.

Brand Name Qualities

• Easy to pronounce.
• Attention-grabbing.
• Pleasant sounding.

Advertising Rules

• Aim, Target, Media, Competitors.

AIDA Model

• Attention, Interest, Desire, Action: Stages of consumer engagement through advertising.

Salesperson Roles

• Persuasive communicator.
• Service provider.

Public Relations

• Maintains mutual understanding between company and public.

Vendor vs. Employee Management

• Employee management focuses on HR.
• Vendor management involves outsourcing and contracts.

ATL vs. BTL Advertising

• ATL: Mass audience, hard to measure.
• BTL: Targeted audience, easy to measure.

Public Relations Tools

• Publications, events, sponsorship.

CRM Benefits

• Centralized data access.
• Improved collaboration and automated processes.

Vendor Management

• Involves finding, evaluating, and working with vendors effectively.

Additional Notes:

• Case studies and examples provided throughout the lecture.
• Emphasis on practical application of marketing concepts.