MARKETING UNIT 12

WHAT IS MARKETING? CHOOSE THE BEST DEFINITION. ‘The aim of marketing is to make selling superfluous.’- Peter Drucker (i.e. you must understand the customer so well that the product/service sells itself) ‘A combination of selling, advertising and PR.’- the widely held view of the public ‘The performance of business activities that direct the flow of goods and services from producer to consumer or user.’ – American Marketing Association

‘Getting the right goods, to the right people, in the right place, at the right time, with the right level of communication profitably.’ – Chartered Institute of Marketing (UK) ‘Consumption is the sole end and purpose of all production.’ – Adam Smith, Wealth of Nations (i.e. only produce what someone will buy) In fact, they all mean the same thing - find out what customers want and produce/deliver it.

MARKETING AIMS MARKETING is the management process involved in i_________, a_________ and s_________ consumer requirements profitably. Marketing means identifying customers, defining and d_________ the products or services they want, and m_________ and d_________ them. Marketing means anticipating and c_________ needs: p_________ useful things customers didn’t know they wanted until you produced them.

MARKETING AIMS MARKETING is the management process involved in identifying, anticipating and satisfying consumer requirements profitably. Marketing means identifying customers, defining and developing the products or services they want, and making and distributing them. Marketing means anticipating and creating needs: producing useful things customers didn’t know they wanted until you produced them.

Marketing must s_________ consumers' wants and needs profitably. It involves building good long-term customer r_________ (e.g.dealing with complaints). It affects all aspects of business (e.g. production, p _________). S_________ is only one part of the marketing process (market research, testing, design). A_________ is just one of a number of tactics used in the process (sales promotion, free gifts, competitions, PR, personal selling) It is an ongoing, constant process which requires momentary response to changing t_________.

Marketing must satisfy consumers' wants and needs profitably. It involves building good long-term customer relations (e.g.dealing with complaints). It affects all aspects of business (e.g. production, pricing). Selling is only one part of the marketing process (market research, testing, design). Advertising is just one of a number of tactics used in the process (sales promotion, free gifts, competitions, PR, personal selling) It is an ongoing, constant process which requires momentary response to changing trends.

MARKETING AIMS IN SHORT Maintain quality/price relationship Always listen to customers Remember the need that you are satisfying Know your customers Explain benefits, not features Talk to your customers Involve all staff in marketing Needs not wants Grow your market share – profitably!

MARKETING AIMS

VOCABULARY- BASIC MARKETING TERMS, MK p 64 Do the vocabulary task in MK, p 64 – Match the words with the corresponding definitions.

READING – MARKETING, RB p. 71 READING – TASK 1 – Match the paragraphs with the corresponding headings. TASK 2 – HANDOUT - Work in groups of 5 students. Each student in the group completes one paragraph with the missing information from the text.

SELLING CONCEPT VS. MARKETING CONCEPT SELLING means you sell what you make. MARKETING means you make what you can sell. PRODUCT vs. CONSUMER oriented oriented inward looking ... out-dated ... shorter time horizon ... about profit now … introverted …

SELLING CONCEPT VS. MARKETING CONCEPT SELLING means you sell what you make. MARKETING means you make what you can sell. PRODUCT vs. CONSUMER oriented oriented inward looking outward looking out-dated state-of-the-art shorter time horizon longer time horizon about profit now about profit in the long run introverted extroverted

MARKETING PROCESS

WHAT IS THE MARKETING MIX? RESEARCH PLANNING MARKETING MIX P.......................... TESTING PERFORMANCE

TO WHAT EXTENT DOES THE SUCCESS OF THESE TWO BRANDS DEPEND ON MARKETING?

THE 4 Ps OF THE MARKETING MIX PRODUCT the totality of a product's features and benefits influences the buying behaviour determines acceptable price PRICE often not the predominant factor in the modern marketing mix setting the right price can attract a large market share (lower price than the competition) the pricing strategy varies over the product life cycle

THE 4 Ps OF THE MARKETING MIX PROMOTION should communicate the benefits of the product to the target market four main promotional activities: paid advertising, unpaid publicity, personal selling and sales promotion PLACE should select the appropriate channels of distribution to deliver goods and services to the consumer

THE 4 Ps OF THE MARKETING MIX - AIMS

THE BLENDING OF THE 4 Ps

WHAT ABOUT THE COSTUMERS’ PERSPECTIVE?

HOW DOES THE MARKETING MIX WORK ON THESE EXAMPLES? http://www.youtube.com/watch?v=Mx0xCI1jaUM http://www.youtube.com/watch?v=LZeSZFYCNRw