Marketing: Planning and Strategy

In this week's #MarketingMonday, we tell you about a very nice book.
Written by Subhash C. Jain, 'Marketing: Planning and Strategy' is a goldmine of marketing gems for any marketing student, pundit or practitioner.

We ain't gonna say much, but just a casual look at the Contents will give you a sneak peek into what awaits you in this book.
The fourth chapter deals with understanding competition. From a business viewpoint:

"competition refers to rivalry among firms operating in a market to fill the same customer need. The businessperson’s major interest is to keep the market to himself or herself by adopting appropriate strategies."

Chapter five is all about focusing on the customer, which interestingly opens with this famous quote by Adam Smith:

"Consumption is the sole end and purpose of production; and the interest of the producer ought to be attended to only so far as it may be necessary for promoting that of the customer."

There is a chapter about measuring strengths and weaknesses, another on developing marketing objectives and goals and about organizational structure.

On strategy, the author has outdone himself with detailed chapters on strategic marketing tools viz: product strategies, pricing strategies, distribution strategies, promotion strategies... even global market strategies.


Chapters 19 through 47 are case studies of actual businesses with respect to their maketing strategies.

We highly recommend this book. But more than that, this is where yu can actually get the book and start reading in just a few minutes. Get your copy of 'Marketing: Planning and Strategy' now!

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According to Albert Emery, we can look at marketing as merely a civilized form of warfare in which most battles are won with words, ideas, and disciplined thinking. The end goal is customer acquisition and retention. And this calls for a new attitude in how mediated persuasion is conducted. And new strategies if need be.

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You are Unique. Like Every Person Else

Today's #MarketingMonday shines the light on a key person in advertising - the prospect who is defined as "a person regarded as likely to become a potential customer or client."

 

 

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Over a decade ago, I recall listening to this episode of 'The Age of Persuasion' podcast. This particular episode is on marketing to the masses. Consider this:

"When you speak to thousands, or millions, you surrender the persuasive power of one-on-one intimacy."

Since advertising is mediated persuasion, your marketing message is best served reaching as many a population as possible. But for it to be effective, it should be aimed at one person at a time. Smart advertising doesn't speak to the entire market. It speaks to just one person.

So who is this one person?

This one person is the prospect. And just as you can lead a friend to go the right way in conversation, you fashion your message the same way in advertising.

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The Mass Audience is a myth. And since society emphasizes the individual over the group, we tend to believe that we are very different. But from an advertiser's point of view, these individuals are essentially the same. Quite ironic.

One more thing: Advertisers speak to what an individual believes, and then they expand it to the masses.

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We are quite different and no two persons, even identical twins are exactly the same in the way we behave or respond to things. So yes, you are different. Just like everyone else!

Branding, Impressions and the Elements of an Advert

Today's post is essentially an index of sorts. 

It is however, not without substance since it points us two core ingredients of marketing: branding and advertising.

On Branding, it is worth noting that branding isn't about facts, it is about emotions. You store brands in your mind, not as chunks of information but by way of impressions.

The Age of Persuasion podcast has valuable insights on the 6 remarkable brands and more remarkable brands episodes.

Besides branding, advertising is mediated persuasion and it is one of the most visible and glamorized aspects of marketing.

The are several elements of an ad. These are:

• interactions of words and visuals
• attention-getting devices
• humor
• testimonials
• music (with a focus on the jingle)
• presenters
• characters
• drama
• comparison
  

You can find details of the above elements in 'Advertising and the Mind of the Consumer' book which is available on Amazon.

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The tenets of marketing and marketing have stayed true even with the passage of time and significant changes in ad delivery mediums. The times they are a changin', but it is important to keep customers satisfied.