CH- 2 | PART 1| DEVELOPING MARKETING STRATEGIES & PLANS || HPSC PGT COMMERCE 2023, NET, IBPS SO 2023

Summary

The video script is an extensive discussion on marketing strategies and value delivery in business. It covers topics from traditional marketing to modern approaches, emphasizing the importance of understanding customer needs and providing value to ensure business success. The speaker discusses the evolution of marketing, the significance of the value chain, and the necessity of adapting to developing countries' demands. The script also touches on the importance of supply chain management and competitive advantage in the market.

Takeaways

• 📚 The video script is part of a course on 'Disha Classes' focusing on marketing and e-commerce related subjects.
• 🎓 The course covers marketing strategies and concepts from Philip Kotler's 15th edition book, which is considered a key resource for marketing exam preparation.
• 🔎 Emphasis is placed on understanding the value of marketing and the need to provide customer value as the central theme of any business's marketing approach.
• 📈 The script discusses the evolution of marketing from traditional methods to more holistic and customer-centric strategies that adapt to the needs of developing countries.
• 🛍️ It highlights the importance of segmenting the market and targeting specific market segments to tailor products and services that meet customer needs.
• 📝 The process of value delivery is outlined in three steps: choosing value, providing value, and communicating the value to customers.
• 💡 The script introduces the concept of the 'Value Chain' by Michael Porter, explaining how a company can create more customer value through coordinated activities within the chain.
• 🔄 The importance of supply chain management is discussed, and how it can provide a competitive advantage by ensuring efficient delivery of products and services to customers.
• 🌐 The script touches on the idea of a 'Value Delivery Network', which extends the supply chain concept to include the entire process from suppliers to the end customer.
• 🚀 The video encourages viewers to share and subscribe to the 'Disha Channel' for more lessons on marketing and business strategies.

Q & A

What is the main focus of the Disha Classes?

The main focus of Disha Classes is to provide video chapters on various subjects related to net commerce and state page e-commerce.

Which book is being used to cover the marketing topics in the course?

The marketing topics are being covered from Philip Kotler's book, specifically the 15th edition.

What is the significance of Philip Kotler's book in the context of the course?

Philip Kotler's book is significant because the marketing questions that come in the net level exam are asked from this book, which is considered a power book in the field of marketing.

What is the importance of marketing in the context of business discussed in the script?

Marketing is crucial as it is centered around providing value to customers, which in turn delivers profit to the company, making it a key component of any business's success.

What are the two main things that marketing is used for, as mentioned in the script?

Marketing is primarily used for 'Goods' and 'Services', which are the two main areas that businesses focus on to market their offerings.

What is the concept of 'Value Delivery Process' in marketing as discussed in the script?

The 'Value Delivery Process' in marketing refers to a systematic approach to understand customer needs and demands, and to deliver products or services that meet those needs, thereby providing value to the customer.

What are the three steps of the Value Delivery Process mentioned in the script?

The three steps of the Value Delivery Process are: 1) Choosing the value based on customer needs and demands, 2) Providing the chosen value through product features, pricing, and distribution, and 3) Communicating the value to the customers to create awareness and interest.

What is the role of 'Target Market' and 'Positioning' in the marketing strategy discussed in the script?

The 'Target Market' is a specific segment of the market that a company decides to focus on, and 'Positioning' is about how the company presents its product or service within that target market to create a distinct image or value proposition.

What is 'Market Segmentation' and why is it important in marketing?

Market Segmentation is the process of dividing the market into different groups of consumers with different needs, characteristics, or behaviors. It is important because it allows companies to tailor their marketing strategies to better meet the specific needs and preferences of each segment.

What does the script suggest about the evolution of marketing strategies over time?

The script suggests that marketing strategies have evolved from traditional methods focused on creating and selling products to more holistic and customer-centric approaches that prioritize understanding and meeting customer demands and delivering value.

What is the significance of 'Value Chain' in creating customer value according to the script?

The 'Value Chain' is significant in creating customer value as it represents the series of activities a company performs to deliver a valuable product or service to the customer. It includes primary activities such as operations, marketing and sales, and support activities like technology development and human resource management.

What are the core business processes discussed in the script and why are they important?

The core business processes discussed are Market Setting Process, New Product Development Process, Customer Acquisition Process, Customer Relationship Management Process, and Fulfillment Management Process. They are important because they form the backbone of a business's operations and directly impact the company's ability to meet customer needs and achieve success.

What does the script imply about the importance of supply chain management in business success?

The script implies that supply chain management is crucial for business success because it involves the coordination of activities from the supplier to the customer, ensuring the efficient delivery of goods and services, and providing a competitive advantage.

What is the concept of 'Value Delivery Network' as related to supply chain management in the script?

The 'Value Delivery Network' is a term used to describe the complete supply chain from the supplier to the end customer. It emphasizes the importance of delivering value at every stage of the network, ensuring that the final product or service provides the desired value to the customer.

What are the three features that contribute to a company's competitive advantage according to the script?

The three features contributing to a company's competitive advantage are: 1) Superior technology or processes that competitors cannot easily copy, 2) Wide applicability of the technology or process across various markets, and 3) The ability to adapt and apply the technology or process to different markets effectively.