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Marketing 1.0-4.0
- 1. Marketing 1.0, 2.0,3.0 & 4.0 Made by:- Pallavi Gupta(PC04) Chandan Mallick (IP02) Ritu Jain (PT 07) Ankita Paul ( PT13) Shubham Gupta (IP11) M.Pharm+MBA 3rd Year
- 2. 5/9/2021 Advance Courseof Marketing Strategy - Major Presentation 2 Philip Kotler- Father of Modern Marketing
- 3. Introduction Marketing has evolveda lot, never stops, and already with a 100-year history it has gone from production and product-oriented marketing ( 1.0 ), to customer-centric marketing ( 2.0 ), passing through marketing focused on being human and its values ( 3.0 ) and finally to digital-oriented marketing ( 4.0 ). 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 3
- 4. Marketing 1.0 • Marketing1.0 concept based on the evolution of the marketing theory and practice in the first half of the 20th Century, which was based and centred around the idea of products and production. • Marketing concept has undergone a great change over the period. The different stages of change: 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 4 Production concept of marketing Product concept of marketing
- 5. • Marketing 1.0is based on the "four P's" of Marketing Mix. • Marketing 1.0 appeared as an outcome of the development of production during a new industrial revolution (Kotler, 2012) based on the rise of new information technologies and communication and especially following the burst of the Internet bubble. • The first Web application called "Web 1.0" application called "replicative Web", whose basic principle is to provide products and services of offline businesses 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 5
- 6. The Production Concept- Ford's Model T • One of the best examples of the production concept is Henry Ford's Model T. By developing an efficient assembly line, Ford was able to bring the cost of the Model T down from around $800 to just under $300, putting affordable transportation into the hands of average consumers in the United States. • The biggest secret to Ford's assembly line is that he built one car, the Model T. There were very few variations on the basic structure and functionality of this automobile. One of the best known slogans of the time, which Ford himself coined, was "You can have any color you want as long as it is black.“ • Henry Ford was very successful with the production concept for a period of time. He amassed quite a fortune by practicing the production concept. • Ford did not anticipate and never really acknowledged change in demand. General Motors, however, did. As a result, General Motors' sales by the end of the 1920's dramatically outstripped Ford's sales. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 6
- 7. 09-05-2021 Advance Courseof Marketing Strategy - Major Presentation 7 Ford's Model T
- 8. Marketing 1.0 inPharma • Marketing 1.0 is the first step Pharma marketers need to achieve. It is all about knowing your “Customers’ Minds”. • Marketing 1.0 goes beyond sales and aims to create brand identity, bring brand awareness and connect with customers beyond sales. • Marketing 1.0’s goal is to understand how doctors and other pharma customers make their decisions, what affects the decision making, and what the trends in the market are. • Thus, Marketing 1.0 focuses mainly on acquiring marketing data, sales data of various pharma offerings and analysing that data in-house. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 8
- 9. 5/9/2021 9 Advance Courseof Marketing Strategy - Major Presentation Customer Centric
- 10. What is Marketing2.0 ? • The one that focuses on the customer to establish an emotional bond between him and the product or service . • The second era of Marketing based on social networking sites which consumer is the focal point for the company. • It refers to the new generation of marketing ideas emerging from the Internet era. The expression became popular in 2005 along with the idea of Web 2.0. It is a buzzword that for.ms part of the business jargon of corporate work environments pertaining to new means of marketing. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 10
- 11. Marketing 2.0 As Kotlerexplains in the aforementioned interview, “Some companies decide to learn more about to who they are selling their products, set out to fabricate and sell quality goods, to understand their clients through the study of large databases and to offer them a differential service”. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 11
- 12. • Technologies havechanged the way people interact with each other, which resulted in more interactive communications between consumers. • Web 2.0 is a set of economic, social, and technology trends that collectively form the basis for the next generation of the Internet a more mature, distinctive medium characterised by user participation, openness, and network effects. • Web 2.0 is the new generation of websites and web services that capitalise on the collaboration of the users of these services 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 12
- 13. Implementation of Marketing2.0 model • By using your website, blog, social network(s), and email marketing to create a conversation between your company, customers, and prospects, Marketing 2.0 allows you to extend your marketing reach beyond that of traditional marketing methods. • The merge between Web 2.0 technology and marketing practice would result in the adaption on what is known as marketing 2.0. • Marketing 2.0 is defined as the usage of Web 2.0 technology and the interactive capabilities it provides for the purpose of opening interactive communication channels between consumers and businesses 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 13
- 14. Implementation of Marketing2.0 model • In how to implement a Marketing 2.0 Model, a company may choose to use more than one Web 2.0 application to implement Marketing 2.0 strategy. • Companies should focus on when implementing Marketing 2.0 strategy is to synchronize their marketing efforts among the different Web 2.0 applications the company chose to use. • Marketing 2.0 is a two ways communication channel. Therefore, an effective communication strategy is critical for the success of Marketing 2.0 implementation and it also allows the company to expand its customer base by creating new customers. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 14
- 15. Marketing 2.0. Conclusion •In how to implement a Marketing 2.0 Model, it is very critical to select the technology that maximizes the business value the most • The chosen application should be able to close gaps in the customer experience and facilitate sophisticated customer segmentation based on clickstream transparency and rich web analytics • This could be achieved by selecting the most valuable application for the customers that represent the market the company is targeting 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 15
- 16.
- 17. 09-05-2021 Advance Courseof Marketing Strategy - Major Presentation 17 Foundation for Marketing 3.0 Possible by Implementing Marketing 3.0
- 18. Marketing 3.0 • Human-Centricapproach • Approach consumers as whole human being with minds, hearts and spirits. • Aims to satisfy the consumers • Believes that needs and hopes of consumers should never be neglected. • Complements Emotional marketing with Human spirit marketing. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 18
- 19. 5/9/2021 Advance Courseof Marketing Strategy - Major Presentation 19 Major Forces that Shape the Business Landscape Toward Marketing 3.0 AGE OF PARTICIPATION AND COLLABORATIVE MARKETING AGE OF GLOBALIZATION PARADOX AND CULTURAL MARKETING AGE OF CREATIVE SOCIETY AND HUMAN SPIRIT MARKETING
- 20. Marketing 3.0 :Collaborative, Cultural and Spiritual 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 20
- 21. Evolution of MarketingConcept 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 21 • The marketing Mix • Product life cycle • Brand Image • Market Segmentation 1950s Postwar • The four Ps • Marketing myopia • Lifestyle Marketing • Broadened Concept of Marketing 1960s Soaring • Targeting and Positioning • Strategic, service, social, societal and macro- marketing 1970s Turbulent • Marketing warfare • Global, local, Mega, Direct marketing • Customer Relationship Marketing 1980s Uncertain • Emotional, Experimental, Sponsorship, Internet and E- business marketing • Marketing Ethics 1990s One-to- One •ROI Marketing •Brand equity, Customer equity. Social responsibility, social media, cocreation and authenticity marketing •Consumer Empowerment 2000s Financiall y Driven
- 22. Future Of marketing 09-05-2021Advance Course of Marketing Strategy - Major Presentation 22 The Disciplines of Marketing Today’s Marketing Concept Future Marketing Concept Product Management The Four P’s Cocreation Customer Management STP Communitization Brand Management Brand Building Character Building
- 23. 09-05-2021 Advance Courseof Marketing Strategy - Major Presentation 23 Cocreation: Three key processes of cocreation is providing platform, match their own unique identities and lastly feedback and enrichment. Communitization: Communities such as pools (Share same values and connected to an IDEA), webs (connected to one another) or hubs (Connected to leader). Character Building: Authentic and real experience
- 24. Shift to Human spirit:The 3i Model • Brand identity : Positioning of brand in the mind of consumers • Brand integrity : Fulfilling what is claimed through the positioning and differentiation (Credible, Promise and Trust), Target is SPIRIT • Brand image : Acquiring strong share of consumers‘ emotions 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 24
- 25. The 3i OfRevital 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 25 3i Brand Revital Differentiation Daily health supplements Positioning Jiyo jee bhar ke Brand integrity
- 26. Shift to valuedriven marketing 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 26
- 27. Strategy 5/9/2021 Advance Courseof Marketing Strategy - Major Presentation 27
- 28. 09-05-2021 Advance Courseof Marketing Strategy - Major Presentation 28 Marketing the Mission to the customer • Consumers are the new brand owners • Good mission defined Business as unusual Creating Story that moves people Spreading Consumer Empowerme nt Realizing Summary: Promise of transformation, compelling stories, and consumer involvement
- 29. Marketing the Valuesto the employees • Permission-to-play values are the basic standards of conduct that employees should have when they join the company. • Aspirational values are values that a company lacks but the management hopes to achieve. • Accidental values are acquired as a result of common personality traits of employees. • Core values are the real corporate culture that guides employees’ actions. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 29
- 30. Shared Values andCommon Behaviour In Marketing 3.0 • For Example: Mayo Clinic • Foster value of Collaboration • No. of Physician and health experts come together to serve each patients • The culture of collaboration is what makes good physician come to work for mayo clinic • Mayo clinic model of care 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 30
- 31. Marketing values tothe Channel partners 1.Channel as Collaborator : Selecting the Fit 2. Channel partners as cultural change agent : Distributing the story For ex: ITC and Hindustan Unilever play a significant role in partnering with the poor to distribute their products in rural areas 3.Channel as creative ally : Managing the relationship 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 31
- 32. Marketing The visionto the shareholders • To convince shareholders, a company’s management needs to formulate and communicate the corporate vision in addition to its mission and values. • Embrace the concept of sustainability = long run competitive advantage • Improve corporate brand value 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 32
- 33. Marketing 3.0 : APPLICATIONS 5/9/2021Advance Course of Marketing Strategy - Major Presentation 33
- 34. Delivering Socio-Cultural Transformation 09-05-2021Advance Course of Marketing Strategy - Major Presentation 34 Identify Socio- Cultural Challenges • Identify current and predict future challenges • Challenges may include wellness, education or social injustice Select Target Constituents • For immediate impact: select constituents such as the middle class, women or the elderly • For future Impact: select children and youth Offer Transformational Solutions • Provide behaviour changing solutions • Aim toward more collaborative, cultural and creative transformation Involves three step process:
- 35. Creating Emerging MarketEntrepreneurs • From pyramid to diamond • From aid to entrepreneurship • Alleviating Poverty by encouraging Entrepreneurship • Social Business Enterprise (SBE) : A company that is making money while impacting the society in which it operates. • Measures: • Stretches disposable income • Expand disposable income • Increase disposable income “ Teaches people how to fish instead of giving them free fish” 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 35
- 36. Striving for environmentalsustainability • Make a difference to solve the biggest issues of our times: Environmental sustainability • 3 Actors in Sustaining the Environment The Innovator The Propagator The Investor 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 36
- 37. Putting It allTogether • Credo 1 : Love your Customers, Respect your Competitors • Credo 2 : Be sensitive to change, be ready to transform • Credo 3 : Guard your name, be clear about who you are • Credo 4 : Customers are diverse; go first to those who can benefit most from you • Credo 5 : Always offer a good package at a fair price • Credo 6 : Always make yourself available, spread the good news • Credo 7 : Get your customers, keep and grow them • Credo 8 : Whatever your business it is a service business • Credo 9 : Always refine our business process in terms of quality, cost, and delivery • Credo 10 : Gather relevant information, but use wisdom in making your final decision 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 37
- 38. • Fundamental TrendsShaping Marketing • New Frameworks for Marketing in the Digital Economy • Tactical Marketing Applications in the Digital Economy 5/9/2021 Advance Course of Marketing Strategy - Major Presentation 38
- 39. Fundamental Trends ShapingMarketing • The shifts toward a more horizontal, inclusive, and social business landscape • From exclusive to Inclusive • Technology enables both automation and miniaturization • Reverse innovation • Convergence and integration of two or more industries are trending • Social inclusivity • From vertical to Horizontal • Innovation is horizontal • Competition is changing from vertical to horizontal • Distinctions between industries are blurring • Track competitors from outside their home markets • Concept of customer trust • From Individual to Social • Customers communicate with one another It is practically impossible to hide flaws or isolate customer complaints in a transparent, digital world. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 39
- 40. Marketing amid Paradoex Connectivityis arguably • Amazon, Netflix Collaboration with competitors and co-creation with customers are central • Procter and Gamble’s (P&G’s) Connect + Develop program Social media such as Twitter and Instagram enable customers to show and share their customer experience: TripAdvisor and Yelp • Paradox No. 1: Online Interaction versus Offline Interaction • Paradox No. 2: Informed Customer versus Distracted Customer • Paradox No. 3: Negative Advocacy versus Positive Advocacy 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 40
- 41. The Influential DigitalSubcultures • Youth: Acquiring the Mind Share • Early adopters • Trendsetters • Game changers • Women: Growing the Market Share • Information collectors • Holistic shoppers • Household managers • Netizens: Expanding the Heart Share • Social connectors • Expressive evangelists • Content contributor 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 41
- 42. Marketing 4.0 inthe Digital Economy • Moving from Traditional to Digital Marketing • From Segmentation and Targeting to Customer Community Confirmation • From Brand Positioning and Differentiation to Brand Clarification of Characters and Codes • From Selling the Four P’s to Commercializing the Four C’s • From Customer Service Processes to Collaborative Customer Care • Integrating Traditional and Digital Marketing 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 42
- 43. New Frameworks for Marketingin the Digital Economy • The New Customer Path • New Frameworks for Marketing in the Digital Economy • Tactical Marketing Applications in the Digital Economy 5/9/2021 Advance Course of Marketing Strategy - Major Presentation 43
- 44. New Customer Path • UnderstandingHow People Buy: From Four A’s to Five A’s • attention, interest, desire, and action to aware, attitude, act, and act again to aware, appeal, ask, act, and advocate. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 44
- 45. • Mapping the CustomerPath throughout the Five A’s 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 45 Driving from Awareness to Advocacy: The O Zone (O3)
- 46. Marketing Productivity Metrics • Purchase ActionRatio (PAR) and Brand Advocacy Ratio (BAR) 5/9/2021 Advance Course of Marketing Strategy - Major Presentation 46
- 47. Purchase Action Ratio(PAR) and Brand Advocacy Ratio (BAR) • In line with the five A’s, two metrics are valuable to measure: purchase action ratio (PAR) and brand advocacy ratio (BAR). • PAR measures how well companies “convert” brand awareness into brand purchase. • • BAR measures how good companies “convert” brand awareness into brand advocacy. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 47
- 48. Decomposing PAR andBAR • Breaking down PAR and BAR can reveal similarly useful insights. It turns out that PAR may be calculated by dividing market share by brand awareness. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 48 What PAR Really Means What BAR Really Means What PAR Really Means What BAR Really Means
- 49. Driving Up Productivity •1: Increase Attraction • 2: Optimize Curiosity • 3: Increase Commitment • 4: Increase Affinity PAR and BAR allow marketers to measure the productivity of their marketing activities. 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 49
- 50. Industry Archetypes andBest Practices 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 50 • Four Major Industry Archetypes Bow Tie: A Fifth Pattern Pattern 1: Door Knob Pattern 2: Goldfish Pattern 3: Trumpet Pattern 4: Funnel
- 51. Tactical Marketing Applicationsin the Digital Economy
- 52. Human-Centric Marketing forBrand Attraction • Understanding Humans Using Digital Anthropology • Social Listening • Netnography • Emphatic Research • Building the Six Attributes of Human-Centric Brands • Physicality • Intellectuality • Sociability • Emotionality • Personability • Morality 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 52
- 53. Content Marketing forBrand Curiosity 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 53 Content Is the New Ad, #Hashtag Is the New Tagline
- 54. Omnichannel Marketing forBrand Commitment Rise of Omnichannel Marketing Trend 1: Focusing on Mobile Commerce in the “Now” Economy Trend 2: Bringing “Webrooming” into Offline Channels Trend 3: Bringing “Showrooming” into Online Channels Optimizing Omnichannel Experience with Big-Data Analytics Step-by-Step Omnichannel Marketing Step 1: Map All Possible Touchpoints and Channels across the Customer Path Step 2: Identify the Most Critical Touchpoints and Channels Step 3: Improve and Integrate the Most Critical Touchpoints and Channels 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 54
- 55. Engagement Marketing forBrand Affinity • Enhancing Digital Experiences with Mobile Apps Step 1: Determine the Use Cases Step 2: Design the Key Functionalities and User Interface Step 3: Develop the Back-End Integration • Providing Solutions with Social CRM Step 1: Build Sense-and-Respond Capabilities Step 2: Develop and Empower Social CRM Agents Step 3: Leverage Community Involvement • Driving Desired Behavior with Gamification Step 1: Define Actions to Trigger Step 2: Define Customer Enrollment and Tiering Step 3: Determine Recognition and Rewards 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 55
- 56. Marketing 1.0 Marketing2.0 Marketing 3.0 Marketing 4.0 Aim Sell products Satisfy & retain consumers Making the world a better place Attract from relevant untargeted content Driving Forces Industrial Revolution IT New wave of technology The internet and generating content on it How companies see the market? Mass bias with physical needs Intelligent buyer Full human with heart, mind & spirit Complete and connected human Key marketing Concept Product development Differentiation Values Collaboration Company marketing guidelines Product specifications Product & company positioning Company mission, vision and values Authenticity Value proposition Functional Functional and emotional Functional, emotional and spiritual Functional, emotional, spiritual and digital Interaction with consumers One-to-one transaction One-to-one relationship Many to many collaboration Online and offline between companies and consumers 09-05-2021 Advance Course of Marketing Strategy - Major Presentation 56
- 57. THANK YOU 09-05-2021 AdvanceCourse of Marketing Strategy - Major Presentation 57