- Market : This involves analyzing
how many customers, their needs, their readiness, their behavior, their
habits, the prices they are willing to pay, competitors and their
activities, collaborators and their activities .. and choosing your target customers. There are 5 chapters
relevant to analysis are 3 (Env scanning), 4 (Market Research), 6
(Analyzing consumer markets), 7 ( Analyzing Business Markets) and 21
(Global Markets). There are 2 chapters relevant to choosing target markets are 5 (Customer Value) and 8 (Segmentation and Targeting)
- Value Proposition : This builds on - and is linked to the choice of the market - because you cannot create value (product, service) unless you know who the customer is, and who the competition is, and unless you are clear what the positioning is. There are 3 chapters 9 (competition), 10 (Brand equity), 11 (Positioning). Once you decide value proposition, you can work out product specifications and pricing and there are 4 relevant chapters are 12(products), 13 (services), 14 (pricing) and 20 (New Products)
- Go-To-Market : The value proposition needs to be taken to the right places where customers are searching for you (gathering) - or you need to search for the customers (hunting). You need to prospect, contact, communicate, convince, close and transact and set up mechanisms for doing so. There are relevant 5 chapters are 15 (channels), 16 (retailing), 17 (communications), 18 (mass media), 19 (personal selling)
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Sunday, October 16, 2011
Kotler's Book is an encyclopedia and not a textbook
Batch 31 participants asked me yesterday they cannot find the MVG model anywhere in the prescribed textbook of Kotler. I had to tell them that, while it is a standard and up-to-date textbook on
marketing; it is so wide in scope and meant for so many difference audiences that any one audience finds it bewildering. I
told them that is why I have created a superstructure that will enable you to understand how
everything is "connected" to each other in marketing. While the word
"MVG Model" is my own creation, the underlying concept is universal that
the output is a function of 3 concepts Market, Value Proposition and Go
To Market and that they are interconnected. If you ponder a little it will become clear that the output of your
marketing activity - whether measured as sales, market share, price
realization or profitability - depends on
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