What is Marketing? Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Core Concepts Needs, wants, and demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Marketing channels Competition Marketing environment Marketing planning

The Marketing Concept The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. The marketing concept relies on marketing research to define market segments, their size and their needs.

Marketing Mix "Marketing mix" is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market.

The Four P’s of the Marketing Mix Product Price Place Promotion

The Marketing Mix Packaging ID the brand Convey information Facilitate logistics Aid consumptions

The Four C’s of the Marketing Mix Customer Cost Convenience Communication

The New Four Ps Processes People Programs Performance

What is Marketing Management? Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

Holistic Marketing The marketing concept holds that the key to achieving organizational goals consists of being more effective than competitors in integrating marketing activities toward determining and satisfying the needs and wants of target markets. - Kotler

The Marketing Mix & The Pasta Sauce Ingredients working in unison to produce the desired result.

What is Holistic Marketing? Holistic marketing sees itself as integrating the value exploration, value creation, and value delivery activities with the purpose of building long-term, mutually satisfying relationships and co-prosperity among key stakeholders.

Holistic Marketing

Table 2.1 Master Marketers

The Value Proposition A well-defined and persuasive marketing statement related to a specific product or service that details the reasons why a consumer would benefit from purchasing it. A business will typically use a customer value proposition as part of its marketing strategy to consumers, rather than using it internally among staff, suppliers or distributors.

The Value Proposition The formal expression of the value of a product/service is: V = B – C. –The Value is equal to the Benefits of the product/service minus the cost associated with purchase.

Market Segmentation A marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will respond similarly to a marketing action. Market segmentation enables companies to target different categories of consumers who perceive the full value of certain products and services differently from one another.

Market Segmentation Generally three criteria can be used to identify different market segments: –Homogeneity (common needs within segment) –Distinction (unique from other groups) –Reaction (similar response to market)

Market Segmentation Geographic Segmentation is based on regional variables such as religion, climate, population density and population growth rate. Demographic Segmentation is based on variables such as age, gender, ethnicity, education, occupation, income and family status.

Market Segmentation Psychographic Segmentation is based on variables such as values, attitudes and lifestyles. Behavioral Segmentation is based on variables such as usage rate, patterns, price sensitivity, brand loyalty and benefits sought.

Market Research Market research is the process of gathering and analyzing consumer and economic data to help you understand which products and services your customers want, and how to differentiate your business from your competitors.

Market Research Market research can also provide valuable insight to help you to: –Reduce business risks –Spot current and upcoming problems in the current market –Identify sales opportunities –Develop plans of action

Differentiation Strategy A differentiation strategy seeks to achieve competitive advantage by offering unique product and service propositions to the market or by presenting a picture which leads customers to perceive that the company is different from its competitors.

E-Marketing E-Marketing refers to the application of marketing principles and techniques via electronic media and more specifically the Internet. The terms eMarketing, Internet marketing and online marketing, are frequently interchanged, and can often be considered synonymous.

E-Marketing eMarketing is the process of marketing a brand using the Internet. It includes both direct response marketing and indirect marketing elements and uses a range of technologies to help connect businesses to their customers.

E-Marketing Why is it Important? When implemented correctly, the return on investment (ROI) from eMarketing can far exceed that of traditional marketing strategies.(ROI)

E-Marketing Why is it Important? Whether you're a "bricks and mortar" business or a concern operating purely online, the Internet is a force that cannot be ignored. It can be a means to reach literally millions of people every year. It's at the forefront of a redefinition of way businesses interact with their customers.

E-Marketing Follow the Money Internet Spending Overdrive Interactive

E-Marketing Follow the Money Overdrive Interactive

E-Marketing Follow the Money Google Top U.S. Spenders

Source: Mashable

The Power of Google AdWords 2011 Revenues = $37.9B –96% of Revenues Came From Advertising earningshttp:// earnings

Google – National Economic Driver In 2011, Google’s search and advertising tools brought in $80 billion for 1.8 million advertisers, website publishers, and nonprofits in the U.S.

“Start Spreading the News” economy-in-2011_b100096

Marketing Learning Objectives Understand how developed into an important eMarketing tool Understand the different types of and how they are used Understand what the nine steps to an campaign are Learn how to prepare for an campaign Learn best practices for executing an campaign Learn what steps to take after the completion of the campaign

Introduction marketing - Tool for customer relationship management –It is a form of direct marketing that utilizes electronic means to deliver commercial messages to an audience Advantages of marketing: –Extremely cost effective due to a low cost per contact –Highly targeted –Customizable on a mass scale –Completely measurable

How it Works s can be categorized into: –Transactional s –Newsletters –Commercial s Two types of commercial s: –Promotional s –Retention-based

Nine Steps to Executing an E- mail Campaign Strategic planning Definition of list Creative execution Integration of campaign with other channels Personalization of the message  Deployment  Interaction handling  Generation of reports  Analysis of results

Nine Steps to Executing an E- mail Campaign Precampaign –Step 1: Strategic planning Planning around the goals you want to achieve –Step 2: Definition of list List of subscribers who have agreed to allow a company to send them s with marketing messages

Nine Steps to Executing an E- mail Campaign –Step 3: Creative execution s can be created and viewed as HTML or as text s –Step 4: Integration of campaign with other channels Integrating marketing can serve to reinforce a brand’s message and increase responses

Parts of an Header Subject line Personalized greeting Body Footer Unsubscribe link

Execution Step 5: Personalization of the message –Allows for mass customization on a macro scale Step 6: Deployment –An marketer ensures an excellent delivery rate by: Creating valuable content Establishing the correct frequency Testing an for display and deliverability

Execution Step 7: Interaction handling –Every interaction via should be considered as part of a company’s marketing practice and treated as opportunities to engage with customers

Post Campaign Step 8: Generate reports – tracking systems produce statistics in a user-friendly manner Step 9: Analysis of results –Once the reports have been generated, analyze what the numbers are revealing and use this information to improve the next sent out