Today was a great day, Early in the morning we were told that Professor Ned Roberto, Father of Marketing would be teaching us today. Wow! Aint that great, this is the same man who co-authored marketing books with Phillip Kottler.
Our class started with introduction to marketing and new STP, BaseP, 3SP method.
We were told that Marketing starts with First Segmentation, Targeting, and positioning to understand the market and customer value
Next step is to create product/Service that can meet the customer’s value.
Final step is to deliver the product to target market segments using 3 supports Ps
"Price, promotion and placement"
. Our next learning was about Segment market size.
SMS=(seg population size)*(Usage Frequency)*(Price)
We had an interesting discussion on Viagra Marketing strategy
We were taken thru various new marketing strategies being used presently by leading Pharmaceutical companies and retail chain.
I would discuss the same in length tomorrow but for now I have to go back to my studies.
Cheers
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2 comments:
When I read this post, I was thought that you were going to narrate Dr Ned's joke on the "12 Ps"....(sing) PPPPP...PPPP...PPPP
remember that? he he
cheers!
erratum: "I (was) thought" is "I thought"
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