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A Framework for Marketing Management – Chapter 1 , 2 , 3 Summary

Chapter 1

Marketing is the science of building a brand around a product or a service that people want. Marketing has been evolving drastically in the last 10 years as technology has evolved.This also means that we have a social responsibility towards our customers. It is important to understand that there is a difference between want and need for a customer.

Marketing revolves around a Holistic Marketing approach to bring a balance between internal, integrated, performance and relationship marketing. This approach will help a brand grow over time and build its customer base. .The four Ps defined by McCarthy has been updated to People, Processes, Program and Performance.(Kotler, & Keller, 2016).To conclude  “Successful marketing management includes developing and implementing marketing strategies and plans, capturing marketing insights, connecting with customers, building strong brands, creating, delivering and communicating values, and managing the marketing organization within the global economy” (Kotler & Keller, 2016, p. 15).

 

Chapter 2

“The task of business is to deliver customer value at a profit” (Kotler & Keller, 2016, p. 19). The Value delivery process has evolved from a demand-supply system to beginning with marketing planning before the product is built. The Value chain is used to creatively find out ways to add more customer value to the product. There are nine activities that the model proposes and it is essential to go through each activity to improve its performance. (Kotler & Keller, 2016).To successfully build value into a product we need Strategic Planning. This entails establishlishing business units that will have its central goal, benchmark and performance metrics.Growth can either build or break an organization. It is important to define Corporate culture. This is central to how the company reacts under different scenarios.

Every process requires a tool to measure its success and failure. “The overall evaluation of a company’s strength, weakness , opportunities, and threats is called SWOT analysis”  (Kotler & Keller, 2016, p. 23). The SWOT analysis paves way for marketers to form goals and strategy based on its analysis. Marketers typically set up Marketing plans, implementation and metrics. Marketing dashboards are a good way to build a feedback loop for improvement.

Chapter 3

Two of the most important aspects of marketing is understanding the market through research and building forecast models. Marketing teams require both internal and external information. Internal information includes “reports of order, sales, prices, costs, inventory levels, receivables and payables”  (Kotler & Keller, 2016, p. 35).External information includes data obtained through Market Research. Market Research includes Surveys, Focus groups, Behavioral research and Observational research.  (Kotler & Keller, 2016).

There are different measures to perform demand analysis on different segments of the market. Estimations are made based on market area potential, industry sales, and total market potential. The market is studied by subdividing it into macro environment. Some of the environment forces are demographic, economic, socio cultural, natural, technological , political-legal. These are studied to understand the trends and fads in the current and future market.

References

Kotler, P., & Keller, K. L., (2016). A Framework for Marketing Management, 6th ed. Upper Saddle River, New Jersey:  Pearson Prentice Hall

Interview Questions – Part 1

What is React JS ?

Can you use both Angular and React in the same application ?

Difference between implementing Angular and React ?

Have you used design patterns and which is your favorite.

What is MVC

What is DOM

Which do you prefer using DOM or MVC

Can you use DOM and MVC together in the same application

Explain simple steps to build a Rest API

Explain your debugging process on Jasmine or any of the testing frameworks

What is Call and Apply 

How will you implement a simple Call and Apply using Javascript ?

What are directives

Most used directive in you current project

Explain your design process with respect to system design

How would your site handle high volume visitors/pings

Have you seen any false positives and how do you deal with it.

 

The Vegetarian by Han Kang

The Vegetarian is terrifying and terrific all at the same time. Han’s writing style is a bit confusing. She goes from Past tense to Present tense while using different voices to narrate her story. You end up wondering if it is you or the character that is confused and disoriented. You start liking Yeong, you see her in the woman sitting next you in the Bus or the lady in the shopping mall. You wonder if you have met her in another life. Then you fear her. You want to quit the book and you cannot.
Without any spoilers, here are my favorite lines from the 3 part novella
“Intolerable loathing, so long suppressed. Loathing I’ve always tried to make with affection. But now the mask is coming off”
“Some of the trees refused to accept her. They just stood there, stubborn and solemn yet alive as animals, bearing up the weight of their own massive bodies”
The writing is compelling enough for you to want to be a part of the story, but the author draws enough fear and disgust from within the reader to make you quiver with nausea.
PSA: This book is definitely not for the faint hearted.

The Happiness of Pursuit: Finding the Quest That Will Bring Purpose to Your Life

There are books that inspire you and the others that let you live life vicariously through their narrative. This book is a combination of the two. I love Chris’s writing style, one moment he is talking about his trip across the globe and the next about Laura Dekker. The book takes you through a Roller coaster of emotions. Ranging from the feeling of emptiness, understanding the need to search for meaning and pursuit to fulfilling your own quest.
He breaks down the physical and emotional aspect of planning and going on a quest. As ridiculous as a vow of silence for 17 years sounds, as a reader you understand John Francis’s need to do it. Somewhere between pages 3 and 270 you become a part of if not all, most of the quests that Chris takes you on.
If you have been wanting to do something as crazy as living on a Tree for 1000 days, to protest logging, you are not alone!
I will leave you with my favorite extract from the book:
“A desire for ownership and accomplishment, the fierce desire to control over one’s life- these are powerful forces”

What do you learn from a 66 day long challenge ?

I naively started the #66daychallenge inspired from Gary Keller’s “The One Thing”, thinking I would either form a habit or forfeit and learn from it. I instead learnt about lot more than just forming a habit.
The first 10 days were super fun and exciting. I kept setting myself up for higher challenges and it was great! (Feb-4th 2016)
Here are the times I whined and horribly wrong:
1. The first flu hit me on the 11th day and I knew “oh crap”, I did not think this one through, I ended up working out but had to save up enough energy to get to the gym and hit the tread mill.
2. The weekend when I decided to go on long ride with my brother, I did not count in the fact that I would not be able to let my legs recover from the wear and tear. Bad move and I learnt quickly. However, the ride was totally worth every bit of it!
3. Day 43 was miserable, I changed into clipless pedals, fell on my ribs, and sat in the back of an SUV for 6 hours, got few hours of sleep before hitting the gym. It hurt like a bitch but was every bit worthy.
4. Day 44 I was still exhausted and now I am in San Diego with a bruised Rib, and a beautiful trail overlooking the room I stayed in. When someone says victory is bittersweet, I agree a 100%.
5. Day 64 when I almost at the end of my challenge and I contracted the HF fever. I for one thought I would not be able to complete the challenge but, I figured it counts as long as I have enough energy to walk to the gym and walk on the treadmill it still counts.
6. I finished on Sunday the 10th of April.
Here is what I learnt:
It does not take 66 days but just over 25~26 days as long as it is in the form that you love. For me it was biking and gym helped me get better at it.
It helps to plan ahead, I mean like a 6 month plan hacked down to every hour of the day. This, I figured was possible to a large extent because most of us end up doing the exact same activity every week. For instance, I bike on Saturdays and I go to the Farmer’s market on Sundays. So that leaves only the evening and those are as predictable as the weekend mornings.
When you start for work at 6:40 and come back home at 8:30 there is very little energy left and it is mostly a good thing.
You learn not to be a baby about anything, because you work out at night and no way can you feel low after a workout. Ta-Da !
What you eat is how you are going to be that day. For instance, If I want to have a good work out/meeting, I know I have to skip the Boba Tea, I will have a sugar crash and I need more sugar to recover and it’s an endless chain into that pit. Unless, it’s absolutely worth it :p
Laundry – You run out of biking/gym clothes real fast!
Clipless Pedals- Never take them in traffic if you have no experience until you get it into your muscle memory.
That is that! Until I come up with something new to test and learn from 😛
Sincere thanks to all those who have helped me, motivated me, for putting up with me and to the author for writing a book as inspiring as this !