Mind Open

"Internships are about getting to know what a company does" is the only thing I went to Mindshare with. They had said-"the more open to suggestions and people you are, the better". Also, there had been talks which said things like,"Try and get a PPO". What I found was completely opposite to all of this.

1. Internships are too short to get to know what a company actually does. With that in mind, even if I cannot fathom the scope of what Mindshare has been doing, what I came back with was 'What kind of people survive and make it big in media', 'What is a day in an agency like', 'What works in media and entertainment and what does not' and a more refined knowledge of how to use different media measurement software.

2. The more open you are to suggestions, the more suggestions you will get. And there will always  be one more suggestion. Instead of being very open to suggestions and demands, being pro-active helped me better. What I learnt here was how people in an agency functioned and what will their next demand or suggestion be. So in case you anticipate that well and give them their next suggestion/implementation as a part of your proposal, you will find yourself appreciated and looked upon in some good light.

3. Try and get a PPO! This one will be a bit controversial in its worst interpretation. It is not bad-getting a PPO, definitely! At the same time, it is not a very heavy duty task wherein you have to go to the company loaded with bazookas and LMGs. It is more of the mental block of calling it a PPO and an essential that probably makes a person miss out on one. Work well, understand what you are doing and ask lots of questions to a lot of people and then start with the how. Do your groundwork and provide references, quote case studies ONLY AFTER STUDYING THEM, understand your category-the regular essentials. And importantly, do not think of getting a PPO while doing all of this.

In more generic and relatable language, I found that people respect understanding of jargon more than jargon here-a case slightly different from regular classes. Also, keeping ambition in check while working on ideas was another important learning. What happens in classes is great because you are not expected to implement a POTENTIAL idea for something. At the same time, in the real world-budgets and understanding have their limitations. Hence, believing in simpler and more stupid seeming ideas is something I have learnt in addition. And to give a rationale, such ideas are:
a. Easy to understand-for both client and consumer
b. Easy to implement-for implementation team and agency
c. Easy to execute-because they happen in low budgets

Also, as there was a lot of research involved, I realized how difficult it is to leave behind inhibitions and go down to the lowest level and communicate with people. At the same time, this kind of communication is much more effective than asking a few people to fill in information into online survey questionnaires. Also, sometimes, a day spent merely observing people at work or at leisure time provides more insight than through technically and jargon-wise correct actions which are data oriented.

Overall, I found that the experience of an internship (as I have already mentioned earlier) is very short. It is up to you to decide what you do of it-do whatever is offered to you or go one step ahead and ask for what you want. Again, as a Communication student, I find that many of my batch-mates are willing enough to ask for work which they wanted and I am pleased by this because it makes sense to identify with what you are doing. And along with your project work, it is also necessary to scout the office for what you never want to be caught into-there may be profiles which are really interesting sounding when in college, but they might just not be what you want once you see them in action. Yes-I have identified what I NEVER want myself doing in the media industry (but then, this is a topic for some later day).

Ameya Sawadkar signing off again. Will try and keep updating this blog in case monumental activity takes place in my relatively placid life. Until that activity-adios!

End of a session..

We are at a crossroads..

We will always be. And the important thing will be to decide how far down each road do we travel as a marketer. This is not really a end of session-the discussions that have been had so far have actually opened up a vista of perspective so huge that everything that has a price around us has a new dimension from which we can look at it. It is a fascinating thing which I personally did not expect. 

Initially when I received this task of writing a blog about topics we discussed in class, I thought it was a pretty mundane task. But it was truly a very remarkable thing I went through. usually, the word inspiring reads a bit top heavy and heady for a 23 year old, but inspired from this blog about marketing, I have started and am determined to continue writing a new blog about how individuals who indulge in Online Multiplayer Games actually make a very heavy use of management skills and unknowingly deploy managerial concepts (albeit without an idea that they are actually doing so!) with such skill that it could be a good example of the phrase 'bordering on the ridiculous'. I will soon share the link for it on this blog once I have it up and running.

This blog, however, will not be a dead space. Now that the point of view of the author has been delivered, it will be used next to continue and encourage discussions on the unending topic of marketing. New concepts, the next definition of marketing, debates and conspiracy theories about existing topics etc. will now be the fodder for this space. That is why the topic is called end of session. I do not really feel like ending this post on a light note. That is why, I am going to order a Mc'Donalds combo meal with a Mc'Chicken sandwich, a coke float and large fries first thing in the morning. That ought to make it pretty heavy.

Ameya Sawadkar, signing off the session. Thank you for your immeasurable patience!
:)

Segmentation, Targeting and Positioning

Target marketing is comprised of the terms mentioned above-Market Segmentation, Market Targeting and Market Positioning. 

Segmentation:

Market segmentation involves grouping your various customers into segments that have common needs or will respond similarly to a marketing action. Each segment will respond to a different marketing mix strategy, with each offering alternate growth and profit opportunities. Broadly segmentation is the process of dividing the target market into groups based on considerations that may include one or more or all of the following factors:

• Geographic segmentation: based on world region, country, city, topography, climate etc.
• Demographic segmentation: based age, gender, family size, income, occupation, nationality etc.
• Psychographic segmentation: based on personality, class, social preferences etc.
• Behavioral segmentation: based on occasions, benefits, user preferences etc.

Targeting:

After segmenting the market based on the different groups and classes, you will need to choose your targets. No one strategy will suit all consumer groups, so being able to develop specific strategies for your target markets is very important.

There are three general strategies for selecting your target markets:

• Undifferentiated Targeting: This approach views the market as one group with no individual segments, therefore using a single marketing strategy. This strategy may be useful for a business or product with little competition where you may not need to tailor strategies for different preferences.

• Concentrated Targeting: This approach focuses on selecting a particular market niche on which marketing efforts are targeted. Your firm is focusing on a single segment so you can concentrate on understanding the needs and wants of that particular market intimately. Small firms often benefit from this strategy as focusing on one segment enables them to compete effectively against larger firms.

• Multi-Segment Targeting: This approach is used if you need to focus on two or more well defined market segments and want to develop different strategies for them. Multi segment targeting offers many benefits but can be costly as it involves greater input from management, increased market research and increased promotional strategies.

Positioning:

Positioning is developing a product and brand image in the minds of consumers. It can also include improving a customer's perception about the experience they will have if they choose to purchase your product or service.  The business can positively influence the perceptions of its chosen customer base through strategic promotional activities and by carefully defining your business' marketing mix.

Effective positioning involves a good understanding of competing products and the benefits that are sought by your target market. It also requires you to identify a differential advantage with which it will deliver the required benefits to the market effectively against the competition. Business should aim to define themselves in the eyes of their customers in regards to their competition.

Segmentation:

In India Mc'Donalds segments its market according to its customers. 

The way customers are segmented are as follows :-

1) on basis of age

2) on basis of income

3) on basis of working class

Targeting:

Mc'donald's targets nations all over the world. It expands itself by targeting specific number of franchises that it will open in a particular nation & then may even open more if required based on demand. Today, Mc'Donald's values transcend borders and cultures. Each and every day, 47 million consumers worldwide visit Mc'Donald's because they know and love the Golden Arches, Ronald McDonald and Big Mac sandwiches.

From one restaurant in 1955, to more than 31,000 locations in 119 countries, McDonald's has become not only the leading global foodservice company, but also one of the strongest and most recognized brand names in the world. 

Brand Positioning:

McDonald's has placed considerable emphasis on enhancing its brand positioning through the general mediums of TV and print. OOH advertisement has also been widely used by McDonald's to tap into its target base of audience residing in metropolitan areas.

Basically, they have a hang of what kind of a burger do you like, what do you like with your burger, how do you like eating it and when do you like eating your burger combo meal! Seems I was wrong-they got to me anyway.

ATL, BTL and Integrated Marketing Communication

Most outdated (if I may) definitions of IMC seem to say that it is an approach to use effectively all the promotional methods and means together for promotion of an activity via a seamless experience. However, a more contemporary (and therefore more easily agreeable) definition of the same thing includes the specific words creative campaigns and marketing strategies bringing it closer to the actual IMC practices. The one definition I could agree upon has been stated in the following manner:

True IMC is the development of marketing strategies and creative campaigns that weave together multiple marketing disciplines (paid advertising, public relations, promotion, owned assets, and social media) that are selected and then executed to suit the particular goals of the brand.

Prior to the emergence of integrated marketing communications during the 1990s, mass communications – the practice of relaying information to large segments of the population through television, radio, and other media – dominated marketing strategy. Marketing was once used as a one-way feed. Advertisers broadcasted their offerings and value proposition with little regard for the diverse needs, tastes, and values of consumers.

Often, this "one size fits all" approach was costly and ineffective due to its general inability to measure results in terms of sales. As methods for collecting and analyzing consumer data through single-source technology such as store scanners improved, marketers were able to correlate promotional activities with consumer purchasing patterns. Companies also began downsizing their operations and expanding marketing tasks within their organizations. Advertising agencies were also expected to understand and provide all marketing functions – not just advertising – for their clients. Therefore, the importance of IMC keeps rising as the world of advertisements shifts paradigms constantly.

A very interesting analogy I came across on the internet which helped me understand IMC better is something I have shared below-people with a sweet tooth and a decent enough knowledge about the names of end-of-food delicacies will certainly enjoy this particular image!

ATL (Above The Line) Promotion:

ATL is a type of advertising through media such as television, cinema, radio, print, and Out-of-home to promote brands or convey a specific offer. This type of communication is conventional in its nature and is considered impersonal to customers. It differs from BTL advertising, which uses unconventional brand-building and promotional strategies, such as direct mail, sales promotions, flyers, point-of-sale, telemarketing and printed media (for example brochures) – and usually involves no motion graphics. It is much more effective than when the target group is very large and difficult to define.

BTL (Below The Line) Promotion: 

BTL sales promotion is an immediate or delayed incentive to purchase, expressed in cash or in kind, and having short duration. It is efficient and cost-effective for targeting a limited and specific group. It uses less conventional methods than the usual ATL channels of advertising, typically focusing on direct means of communication, most commonly direct mail and e-mail, often using highly targeted lists of names to maximize response rates. BTL services may include those for which a fee is agreed upon and charged up front.
BTL is a common technique used for "touch and feel" products (consumer items where the customer will rely on immediate information rather than previously researched items). BTL techniques ensures recall of the brand while at the same time highlighting the features of the product.
Another BTL technique involves sales personnel deployed at retail stores near targeted products. This technique may be used to generate trials of newly launched products. It helps marketers establish one-to-one relationship with consumers while mass promotions, by definition, make it difficult to gauge consumer-response, except at the time of sales. Examples include tele-marketing, road shows, promotions, in- shop and shop-front activities, display units.

McDonald’s has operated with a very simplistic marketing strategy by using Above The Line marketing techniques like television, OOH and print media. This is also because McDonald’s already had global brand equity, therefore to make waves in India; the brand just had to resort to the basic marketing techniques.

.

McDonald’s started out its marketing campaign in the form an advertisement it had rolled out post its arrival. Since the very beginning, the brand has employed conventional mediums of print and television to promote itself.

Through the years the brand has rolled out different campaigns on Television to build its brand image. Starting out with the “McDonald’s mai hai kuch baat” campaign,  to the “aapke zamane mein baap ke zamane ke daam” and the  world wide "I am lovin it!"campaign. Till this day, in order to promote its products, McDonald’s is heavily promoting it through television and OOH promotion.

In terms of tie-ups, sponsorship or events McDonald’s does not participate in anything nation-wide. Although it was the main sponsor of London Olympics. In India, the conventional mediums like television and print give the brand the mileage it needs, and today McDonald’s enjoys a healthy brand equity in India.

Though I was never enticed by the 'I'm lovin it' campaign and tagline, it is true (yes-confessions coming up..) that I have been a regular Mc'Donalds customer in Pune and might just have a dubious record of having eaten the largest number of combo meals (Here I quote myself-"not a burger, not a beverage and not a single serving of fries-A whole COMBO!") with Mc'Chicken sandwich the most preferred-it was “aapke zamane mein baap ke zamane ke daam” that definitely caught my attention like that of so many others in my college, my neighborhood, area, city, state and country. That augmented with the advertisements has been IMC enough to make people wait in literal lines that extended upto the doors of the store. I might have said I am not a big fan of the brand, but exhaustive (!) research on the topic has to some extent convinced me to unquote myself here. I stand corrected today-not yet a loyalist, but definitely not in the bucket I was when I started this blog.

Sales Management

Here is what experts have to say about what exactly sales management is:

A sales manager can have a narrow or a broad spectrum of responsibilities including the following: estimate demand and prepare sales forecasts; establish sales force objectives and quotas; prepare sales plans and budgets; establish the size and organization of the sales force; recruit, select, and train the sales force; compensate the sales force; control and evaluate sales performances.

- Robert D. Hisrich and Ralph W. Jackson, Selling and Sales Management

Good sales management properly applied is the least expensive, most effective, way to increase dollars of revenue and margins, market share, cash flow, return on investment, and net present value, as well as to beat the competition and make yourself a hero. . . . It costs no more to properly hire, train, compensate, motivate, and evaluate salespeople. Effective time and territory management, forecasting, planning, budgeting, and good communication and control are no more expensive than performing these same functions poorly.

- Robert J. Calvin, Sales Management

Sales management: The attainment of sales force goals in an effective and efficient manner through planning, staffing, training, directing, and evaluating organizational resources.

- Charles M. Futrell, Fundamentals of Selling

Usually, organizations have to find potential consumers by employing sales personnel in order to build revenue and profits. Hence from the opinions of the experts and the function and objective of sales related personnel, we can safely say that-

'Sales management is a practice of obtaining maximum/optimum benefits for both the consumer and the organization through the actions of its sales workforce.'

Functions of sales management are described in the image displayed below:

 For Mc'Donalds, sales management would not include functions different from the conventional ones as these would be similar pretty much over the entire paradigm of sales management. These include:

1. Sales planning
2. Recruiting/ Staffing
3. Training
4. Controlling/ Directing
5. Evaluating
6. Effectiveness/ Efficiency
7. Compensation

Effective sales management requires ongoing involvement with the sales force. But effective sales management has numerous positive impacts. It can make the following happen:

Increase sales revenue and profitability

Decrease variability of revenue due to inaccurate forecasting

Increase sales productivity (revenue per salesperson)

Increase customer satisfaction and loyalty

Increase salesperson motivation

This notion of having all your sales functions planned and executed clinically makes the tasks that lie ahead sound extremely doable as you have taken care of things like recruiting the best sales staff, their loyalty, motivation and all the factors required to keep your sales staff your own. Not a very easy task at any given point of time and any given organization as sales is a function which can easily take the life and energy out of an individual. Therefore, it becomes a job of prime import that a business gets its sales management and planning right. Like always, I had wanted to add an anecdote or a light note at the end of this post too, but the gravity of sales is such that wit fails (falls..after all we are talking gravity here!) me and I give in to the importance of Sales management.

Organizational Buying Behavior

Very formally, Organizational Buying is the decision making process by which formal organizations establish the need for purchased products and services and identify, evaluate and choose among alternative brands and suppliers.

In non-Italics, the organizational buying is a process which the organization undertakes to come to a decision about purchase related to the needs of manufacturing, sustaining the organization and get the best deal out of the entire thing.

The organizational buying process is a systematic step wise process which can be summarized using the following model:

With a few differences in context, the organizational buying process is very similar to that of the consumer, differences being the objective of buying and the end user. In case of the organization, the buying will have objectives that will lead to manufacturing of goods and services for consumer, organization or society. If we refer the post that talked about consumer buying process, in comparative terms, the objectives of buying in that context are much more micro sized as compared to the organizational goals.

The differences between the two have been classified below:

There are a few factors that play an important role in the buying process in case of an organization. They have been summarized below:

Environmental factors:
Factors like dependency, availability, movability, changes in the technology with respect to the item etc are the factors that come into play during the buying process.

Organizational factors:
Changes on the organizational level, type of purchasing adopted (centralized/decentralized) or changes in purchasing practices etc. will come into play.

Interpersonal factors:
Relationships between buyers and seller representatives from competing or collaborating companies.

Individual factors: 
The reaction of the buyer comes into play. The behavior and the kind of service that is obtained by the buyer determines his overall behavior towards the company and the overall organizational buying process.

The Mc'Donalds organizational buying would majorly consist of large scale sellers of potatoes, different kinds of meats and other foodstuffs.
There you go-from organizational buying to different sized French Fries of the highest quality-

Holistic and Sustainable Marketing

Holistic marketing is about creating and developing integrated strategies for brands, campaigns and sales tactics that consider the entire life-cycle of a product or service, crossing departmental boundaries within organisations. It takes a 360 degree view of all the elements of a business; including the elements of the business the customer doesn't usually see as well all customer-facing media, (traditional, digital and social channels) to create strong, consistent and powerful multi-platform marketing narratives.

A marketing strategy that is developed by thinking about the business as a whole, its place in the broader economy and society, and in the lives of its customers. It attempts to develop and maintain multiple perspectives on the company’s commercial activities. (source)

A holistic marketing concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and inter-dependencies. Holistic marketing recognizes that ‘everything matters’ with marketing and that a broad, integrated perspective is necessary to attain the best solution. Four main components of holistic marketing are: relationship marketing, integrated marketing,  internal marketing, and socially responsible marketing. (source)

It seems to be an approach wherein a marketer has the option to involve as many approaches to market the product as possible and integrate them together in order to create a overall, wholesome approach towards marketing. To understand how many approaches there can be to marketing, I came across this interesting link which is almost exhaustive to the point of tiredness about how many types of marketing there can ever be: http://chiefmartec.com/2010/12/131-different-kinds-of-marketing/

So imagine all of these types (definition wise more than one together) put together and working on the same product's marketing. Immense potential! The 'Dumb Ways to Die' campaign to increase awareness towards railway accidents can be considered a very wholesome example of holistic approach to a campaign. 

Another very interesting diagram I came across in my relatively holistic research is shown below:

Though the figure adheres to digital and traditional approaches only, imagine all the types of marketing in the link mentioned above at the roots of the tree that is the product-that is the scope of making product awareness we are looking at here!

Mc'Donalds thrives on TV, Newspaper, Word of Mouth, Digital in form of email, offers and social networking. Integration of even more options into this will definitely help the brand (not by making bolder the already strong footprint in the industry) but there is a definite scope of making the brand more interesting using the multiple options! Not because the brand is not interesting enough already-only because a different approach always acts as a distinct advantage over competition.

I usually tell people that the Mc'Chicken combo meal is totally worth the 180 rupees I pay. And I have also involved myself in some direct marketing by getting a couple of extra burgers a couple of times for people who trashed my claims. That was only a little something one can do for a brand you have really grown to appreciate by now..Wait-what?!