Marketing Promote the business Promote the business Establish and adjust the marketing mix Establish and adjust the marketing mix © John Loftus

Marketing viewpoints Social viewpoint Social viewpoint Economic viewpoint Economic viewpoint Management viewpoint Management viewpoint © John Loftus

Social experience Marketing is a social experienced where two or more parties exchange something of value. © John Loftus

Economic function Business performance requires efficient exchange processes and efficient management of scarce resources. © John Loftus

Management process Marketing management is the process of identifying and satisfying customers’ needs, at a profit, in an ethical way. © John Loftus

Management orientations Marketing orientation Marketing orientation Production orientation Production orientation Sales orientation Sales orientation © John Loftus

Marketing mix Managers adjust 4 key variables: Products and services Products and services Place – (channels of distribution) Place – (channels of distribution) Promotion (communication) Promotion (communication) Price Price © John Loftus

Target market An attractive group of buyers to target with a value proposition that is so good that people will buy. An attractive group of buyers to target with a value proposition that is so good that people will buy. Buyers may be: Existing customers Existing customers Prospective customers Prospective customers © John Loftus

Marketing strategy © John Loftus

Activity What is marketing really all about ? What is marketing really all about ? © John Loftus

The Marketing Mix Adapted from Bized

Product

Place

Promotion Marketing communication Adapted from Bized

Promotion Marketing communication Strategies to make the consumer aware of the existence of a product or service NOT just advertising Adapted from Bized

Physical Environment Brand Image Adapted from Bized

Physical Environment The ambience, mood or physical presentation of the environment The ambience, mood or physical presentation of the environment Smart/shabby? Smart/shabby? Trendy/retro/modern/old fashioned? Trendy/retro/modern/old fashioned? Light/dark/bright/subdued? Light/dark/bright/subdued? Romantic/chic/loud? Romantic/chic/loud? Clean/dirty/unkempt/neat? Clean/dirty/unkempt/neat? Music? Music? Smell? Smell? Adapted from Bized

Price

Price Importance of: knowing the market elasticity keeping an eye on rivals Image copyright: Adapted from Bized

Marketing strategy © John Loftus

Blending the marketing mix Blend of the mix depends upon: Blend of the mix depends upon: Marketing objectives Marketing objectives Type of product Type of product Target market Target market Market structure Market structure Rivals’ behaviour Rivals’ behaviour Global issues – culture/religion, etc. Global issues – culture/religion, etc. Marketing position Marketing position © John Loftus

The marketing process Organisation mission Market opportunity analysis Marketing strategy Target market Marketing mix product place promotion price Implementation Evaluation Environ- mental scan Marketing objectives Adapted from Bized

Planning roadmap © John Loftus