State Bank of India, one of the most prestigious organization recruits PO and clerk jobs by conducting examinations. This year SBI released notification for POs and lakhs of candidates applied for this examination and started their preparation, with a view to help for aspirates we are providing good materials for various sections like General Awareness, Computer Awareness, Marketing, Reasoning and Arithmetic.
Marketing Study Material for SBI PO 2014
In this marketing study material we provided some important topics go through this material andpractice online test of SBI PO 2014 provided in our site for getting good marks.
Be tuned to our site we will post more materials for SBI PO 2014
5 C’s of Marketing
Five C’s of marketing are
1. Customers
2. Company
3. Competitors
4. Collaborators
5. Context
Customer needs: What needs does the firm seek to satisfy?
Company Skills: What special competence does the firm possess to meet those needs?
Competition: Who competes with the firm in meeting those needs?
Collaborators: Whom should the firm enlist to help it and how can the firm motivate them?
Context: Which cultural, technological, and legal factors limit the possibilities?
Bases of Marketing:
Markets can be segmented in a variety of ways, among those most widely used bases are
Demographic: age, income, gender, occupation
Geographic: nation, region of country, urban vs rural
Lifestyle: hedonistic vs. value oriented
These three types of bases – demographic, geographic, and lifestyle are general descriptors of consumers
Marketing Mix:
Marketing mix is used to describe the set of activities comprising a firm’s marketing program
Below twelve marketing terms are determined as marketing mix
1. Merchandising / product planning
2. Pricing
3. Branding
4. Channel of Distribution
5. Personal selling
6. Advertising
7. Promotions
8. Packaging
9. Display
10. Servicing
11. Physical Handling
12. Fact finding and analysis / market research
Aggregation and regrouping of these elements has become popular
Four P’s of Marketing:
Four P’s of marketing are
1. Product
2. Place (Channel of distribution)
3. Promotion ( communication strategy)
4. Pricing
Six M’s of Marketing:
Six M’s of Marketing are
Market: To whom is the communication to be addressed?
Mission: What is the objective of the communication?
Message: What are the specific points to be communicated?
Media: Which vehicles will be used to convey the message?
Money: How much will be spent in the effort?
Measurement: How will impact be accessed after the campaign?
Product Definition:
Product decision starts with understanding of what a product is – namely, the product offering is not the thing itself, but rather the total package of benefits obtained by the customer.
For marketing strategy development purposes, the product has to be considered from the point of view of value delivered to the customer
Value of product is delivered from
1. The physical product itself
2. Brand Name
3. Company reputation
4. Presale education provided by salespeople
5. Postsale technical support
6. Repair service
7. Financing plans
8. Financing plans
9. Convenient availability
10. Word-of-mouth references from earlier adopters of the product
11. Reputation of the outlet where the product was purchased
Product Line Planning Decisions:
There are three types of product line planning decisions
1. Product line length
2. Product line breadth
3. Product line depth
Product Development Process:
If you want to develop a new product then you should go for the below five step process
1. Opportunity identification
2. Design
3. Testing
4. Product introduction
5. Life cycle management
Marketing Channel
Marketing channel is a set of mechanisms or the network vis which a firms goes to market – that is in touch with its customer for a variety of tasks ranging from demand generation to physical delivery of the goods.
Here are eight generic channel functions that serve as a staring place for assessing needs in a particular context
1. Product information
2. Product customization
3. Product quality assurance
4. Lot size
5. Product assortment
6. Availability
7. After sale service
8. Logistics
Sales Promotions:
Sales promotions include things such as samples, coupons and contests, some major types of sales promotions are
1. Consumer promotions
2. Trade promotions
3. Retail promotions
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