Scope of Marketing

BY:MANIKA CHUGH

MIB, 1st semester

Marketing people are involved in marketing 10 types of entities: goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.

GOODS- Physical goods constitute the bulk of most countries' production and marketing effort. The United States produces and markets billions of physical goods, from eggs to steel to hair dryers

EXAMPLE-

DABUR amla hair oil-This Company has time to time inventions and has maintained their brand equity in the market by catering to changing market scenarios and customer needs.

Dabur amal hair oil was first launched in 1950 and within the span of few years it got great acceptance from the market and product started getting endorsed by leading Indian beauty queens. The company started with glass bottles and shifted to pet bottles in 2000 and achieved a milestone of Rs.200 cr turnover in 2005. its portfolio also expanded by adding variants like amla lite, amla flower magic,amla gold hair oil.

SERVICES- As economies advance, a growing proportion of their activities are focused on the production of services. The U.S. economy today consists of a 70-30 services-to-goods mix. Services include airlines, hotels, and maintenance and repair people, as well as professionals such as accountants, lawyers, engineers, and doctors.

EXAMPLE- In Feb'09, Henry Ford Hospital became one of the first hospitals to Tweet a live procedure from an operating room. Doctors, medical students and curious non-medical personnel followed along as surgeons tweeted short updates on the kidney surgery to remove a cancerous tumor. This healthcare marketing effectively created excitement and raised public awareness for a healthcare organization. This kind of buzz can help healthcare organizations both attract new patients and recruit medical personnel.

EXPERIENCES- By orchestrating several services and goods, one can create, stage, and market experiences. Not many companies are focused on how their customer experiences are impacting their customers. The customer experience includes all aspects of a customer's interaction with company. It covers the sales, the packaging, the "out of box" experience (opening the product), the registration and installation/set-up, the usage, and the ongoing maintenance of the product or service and many more.

EXAMPLE- Disney's theme parks are one the ultimate testaments to the concept of Experience Marketing. Walt Disney was the innovator of animation and movies but his dreams did not ended here. He wanted that people should be able to experience the magic of their films even outside the movie theatre. This led to development of the world's most amazing theme parks that brought magic in real life.

EVENTS- Marketers promote time-based events, such as the Olympics, trade shows, sports events, and artistic performances. There is a whole profession of marketing planners who work out details of every event and make sure it is success.

EXAMPLE- Indian Premier League has been the most recent event that is the best example for event marketing. IPL as package was a hit because of its entertainment value and cricket and players of international level. Its marketing strategies also included media hype and Board of Cricket Control in India ensured that the event got all international recognition and gave it the required financial backup to conceive and execute the event. And not to forget IPL's association with big movie stars added to its marketing strategy.

PERSONS- Celebrity marketing has become a major business. Artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals draw help from celebrity marketers. Person marketing marketing activity aimed at creating target market awareness, and a favourable opinion, of a particular person. Personal Income the wages, salary, etc. earned by an individual.

EXAMPLE- Here are 7 major marketing strategies used by celebrities today:

1)Control What Gets Leaked into

the Press: Celebs try to control all the rumors or even facts that gets leaked into the press so as to remain in public eyes

2) Be everywhere: public appearances keep them fresh in the eyes of crowd and producers as well.

3) Pump Ample Time and Effort into Social