Kathmandu Marketing Process

1. Overview of the Marketing Process Importance

• Emphasising Significance: The marketing process is essential for business success by focusing on delivering customer value, extending beyond simple sales efforts.

• Process Breakdown:

  • Understand customer needs to ensure their satisfaction.
  • Create valuable offerings that meet customer expectations.
  • Communicate effectively with the target audience.
  • Deliver outstanding value to foster enduring relationships.

• Quotable Example: "Successful marketing starts with the customer, not the product," indicating a shift in focus towards creating value.

• Flowchart Reference: Here's a diagram illustrating the stages of the marketing process:

  

2. Situational Analysis

• Definition: A vital tool used to comprehend internal and external marketing factors.

  • Roles:
    • Identifying internal strengths and weaknesses.
    • Analysing external economic conditions.
    • Formulating strategic responses using situational data.

3. Key Elements of the Marketing Process

Core Elements

Element	Description	Interconnection
Market Research	Collecting and analysing data to understand trends.	Informs overall strategy formation.
Target Market	Identifying consumers most likely to purchase products.	Focuses marketing efforts and resources.
Marketing Mix	Applying the 4Ps: Product, Price, Place, Promotion.	Creates a cohesive marketing approach.

Market Research Methods

Method	Advantages	Disadvantages
Customer Loyalty Programmes	Cost-effective, tracks customer trends	Limited to existing customer base
Focus Groups	Provides in-depth insights, qualitative data	Time-consuming, potential biases
Social Media Analysis	Real-time data, broad audience reach	Data overload, potential privacy issues

4. Strategic Alignment of Marketing Strategies

• Conceptual Clarity: Align strategies with business objectives to enhance efficacy. Aligning marketing with business goals is crucial for success.

  

• Case Study Example: Kathmandu's sustainable initiatives align with strategic objectives.

5. Marketing Strategies and Metrics

Marketing Strategies for Products

• Product Differentiation: Using high-quality materials and features to increase usefulness and customer satisfaction.
• Pricing Strategies:
  • Price Skimming targets early adopters to quickly recoup costs.
  • Competitive Pricing and Discounts serve to attract and keep customers.

Metrics and Analysis

• Marketing Metrics Formulas:

  • Market Share Calculation: $\text{Market Share} = \frac{\text{Company's Sales}}{\text{Total Market Sales}} \times 100$
  • Return on Investment (ROI): $\text{ROI} = \frac{\text{Net Profit}}{\text{Cost of Investment}} \times 100$
  • Break-Even Analysis: $\text{Break-Even Point (units)} = \frac{\text{Fixed Costs}}{\text{Selling Price per Unit} - \text{Variable Cost per Unit}}$

  

6. Implementation, Monitoring, and Controlling

• Implementation: Carry out marketing plans to achieve objectives.
• Monitoring and Controlling: Use KPIs to track progress and refine strategies based on data insights.

Conclusion Call-Outs