POM: Session3 Scope of Marketing

So far, I have been mentioning that it is products or services that are marketed. Often, I have also brought up them as brands. Actually, anything that provides a solution is marketed. Point to be noted here is that the customers will pay a price for that solution only if it gives them value. Depending upon its value products are termed and known by different names. 

For example, when we buy rice from wholesale market it is called as “commodity”, when we buy Indiagate basmati rice from a grocery store, it is called “brand”, when we go to Mainland China and order Fried Rice, it is called an “item”. Infosys is company whose products are known as “solutions”. In all cases, whatever name is given, the product is marketed on the basis of its value proposition.

Broadly, the scope of marketing can be identified as

Goods Marketing: This includes all the physical products including grocery, vegetables, furniture, electronics, personal care, stationery and so on. Marketers add attributes and features to the product to claim the superior value and attract customers.

Services Marketing: Services are products are mostly intangible. Consumers pay for the services and do not get the possession of any physical good. Airlines, hotels, health, insurance are some examples of services. Since the value depends upon the service provider, the companies vary a lot and command a different value proposition. Being one of the most growing sectors, it has tremendous competition.

Experience Marketing: It is form of service. Experience marketing derives value in giving a one in a life time experience to its customers. Bungee jumping, skydiving, parasailing, scuba diving, are the experiences that people are ready to pay for. Theme parks and restaurants offer entertainment and dinning experience with a difference. Heard about NASA’s Space Travel Program?

Events Marketing: Some events are marketed like anything. Think about your own college fest! You will immediately recall the effort that you have put it. In India, after IPL, Kabbadi League, Football League and now Hockey League are some examples of extreme marketing. Film award nights, Beauty Pageants, concerts,Fashion weeks also marketed a lot. Sunburn has created a unique position in India in a very short time through it's marketing efforts. The other traditional examples are Dandiya Night, Ganapati Festival and Gokul Asthami.

  

Person Marketing: Many a times we see an actor as a celebrity judge in a dance competition, or a cricketer attending a social event or a singer performing in the opening ceremony of a mega sports event! What or rather who makes them do that? Well, all these people are marketed by professional people management companies. Recently, British tennis icon Andy Murray has signed a contract with Mahesh Bhupati’s sports management company Globsport. These companies are also responsible for celebrity labelled merchandise.

Place Marketing: Many countries like, Singapore, Turkey, Thailand, Philippines and Malaysia market themselves as tourist destinations. Some other places like Dubai and Bangkok and Paris are marketed as shopping destinations. Las Vegas and Macau are marketed as gaming and fun destinations. Disneyland in California, Paris and Hong Kong and many other theme parks around the world are marketed as destination for kids. Indian prime minister Mr. Modi is promoting India as a manufacturing destination with make in India initiative.

Property Marketing: Developers market their property to the prospective buyers. They promise value and offer several schemes to individual and business buyers. They organize trade shows and exhibitions to show case their projects. This market varies form budget properties to world class luxury accommodations. Some other form of property is also heard of like intellectual property like patents and trademarks, financial property like share, bonds and other financial instruments.

Organization Marketing: The organizations market themselves as socially responsible business entities. Some non-profit organizations also market themselves to make people aware about the causes they are supporting and seek their contribution. Some examples are CRY, PETA and WWF. Government organizations market themselves to get the support of publics. Military organizations like Army, Navy and Airforce promote their existence and also for recruitments. Business organizations promotes their corporate social responsibility initiatives to built favourable perception in consumer's minds. 

Information Marketing: The information related to gardening, carpentry, machine and car repairs, home décor, and instruments is available as it marketed through magazines or websites. There are online portals and forums that aim at creating a platform for people to discuss and solve their problems.

Idea marketing: Every marketing offering has some basic idea. This idea may be related to benefit its consumers or to support a social cause. Save Tiger, Pulse Polio Campaign, and Organ Donation are some examples of idea supporting social cause. Surf Excel’s “Daag Achche hain” is an example of big idea in advertising world. Many companies like Samsung and IBM continuous work towards identifying new ideas to develop new products and solutions. cosmetic companies claim that they don't sell beauty products they sell hopes.

Prezi Presentation