1 Marketing “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives.” “Identifying and satisfying customer needs and wants at a profit.”

2 Marketing Process Customer Acquisition Customer Retention Profit/Desired Outcome Market Segmentation Target Market Selection Product & Service Positioning Sustaining Value Creating Value Identifying Value Marketing Analysis CompanyCustomerContext CompetitionCollaboration Product/ServicePlace Promotion Price Marketing Mix – The 4 P’s

3 STRENGTHS WEAKNESSES OPPORTUNITIES THREATS Factors Internal to the Organisation Factors External to the Organisation SWOT Focus Differentiation Low Cost Leading to…

4 Existing Products New Products Product/Market Expansion Grid Market Penetration Market penetration is a strategy of increasing your share of existing markets. This might be achieved by raising customers’ awareness of products and services or finding new customers. Product Development Product development is a strategy for enhancing benefits you deliver to customers by improving existing products and services or developing new ones. Market Development Market development is a strategy of finding and entering new markets with current product or service range. The new market could be a new region, a new country or a new segment of the market. Diversification Diversification is a strategy that usually carries high costs and high risks. It often requires organisations to adopt new ways of doing business and so has consequences far beyond simply offering new products/services in a new market. It is therefore usually a strategy to be adopted when other options are not feasible. Adapted from Ansoff I. (1968) New Markets Existing Markets

5 Marketing Objectives Draw on SWOT Set marketing objectives around Markets Products Sales Profit Specific, Measurable, Agreed, Relevant, Timebound, Extending, Rewarding S.M.A.R.T.E.R.

6 Marketing Mix Product Price Promotion Place