1. MARKETING

2. Best commercial ever #1

3. Best commercial ever #2

4. WHAT IS MARKETING?
It’s a complex set of activities and strategies that influence where we live, what we wear, how we conduct business, and how we spend our time and money
Marketing activities are conducted in an environment that changes quickly both in terms of customer demand and the methods by which consumers obtain information and make purchases

5. Marketing: a definition
“The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”

6. Marketing: A definition (cont’d)
There are four activities, or components, of marketing:
Creating. The process of collaborating with suppliers and customers to create offerings that have value.
Communicating. Broadly, describing those offerings, as well as learning from customers.
Delivering. Getting those offerings to the consumer in a way that optimizes value.
Exchanging. Trading value for those offerings.

7. Marketing: centred around “value”

8. What is “value”?
When we use the term value, we mean the benefits buyers receive that meet their needs
value is what the customer gets by purchasing and consuming a company’s offering.
although the offering is created by the company, the value is determined by the customer

9. The four “Ps” of Marketing
The traditional way of viewing the components of marketing is in terms of the four Ps:
Product. Goods and services (creating offerings).
Promotion. Communication.
Place. Getting the product to a point at which the customer can purchase it (delivering).
Price. The monetary amount charged for the product (exchanging).

10. A new look at the four Ps

11. The marketing environment
there are other forces at work in the marketing world—forces over which marketers have much less control
To spot trends and other signals that conditions may be in flux, marketers must continually monitor the environment in which their companies operate

12. Example: social / cultural environment
Generation Gaps
Baby boomers
Generation X
Generation Y

13. Understanding consumer behaviour

14. influences Psychological Influences
Under this category, we can identify at least the following five variables:
Motivation. The internal process that causes you to seek certain goals.
Perception. The way you select, organize, and interpret information.
Learning. Knowledge gained through experience and study.
Attitudes. Your predisposition to respond in particular ways because of learned values and beliefs.
Personality. The collection of attributes that characterize an individual.
Social Influences
Here, we find the following four factors:
Family.
Reference groups. Friends or other people with whom you identify.
Economic or social status.
Culture. Your set of accepted values.

15. Market research
Consumer market research can serve a variety of purposes, including the following:
Help companies make better business decisions and gain advantages over the competition
Help marketing managers or executives make numerous strategic and tactical decisions in the process of identifying and satisfying customer needs
Remove some of the uncertainty by providing relevant information about the marketing variables, environment, and consumers. In the absence of relevant information, the consumer response to marketing programs cannot be predicted reliably or accurately
Provide insights that help guide the creation of a business plan, launch a new product or service, optimize existing products and services, and guide expansion into new markets
Determine which portion of the population will be most likely to purchase a product or service, based on variables such as age, gender, location, and income level
Reveal characteristics of a target market
Understand how consumers talk about the products in the market
Identify which consumer needs are important and whether the needs are being met by current products

16. MARKET RESEARCH (CONT’D)
What Is Quantitative Research?
Quantitative research is defined as the systematic empirical investigation of social phenomena via statistical, mathematical, or computational techniques. It requires collection of enough data points to conduct valid statistical or mathematical analyses.
What Is Qualitative Research?
Qualitative research uses examination, analysis, and interpretation to discover underlying meanings and patterns of relationships in a manner that does not involve mathematical models.

17. The market research process
The marketing research process involves the following six steps:
Problem definition
Development of an approach to the problem
Research design formulation
Data collection
Data preparation and analysis
Report preparation and presentation

18. Predictive advertising

19. branding

20. Defining a brand
A brand is a promise: the promise of what a company or product will provide to the people who interact with it
A brand consists of all the features that distinguish the goods and services of one seller from another: name, term, design, style, symbols, customer touch-points, etc.
Together, all elements of the brand work as a psychological trigger or stimulus that causes an association to all other thoughts we have about this brand. Brand encompasses visual design elements (i.e., logo, color, typography, images, tagline, etc.), distinctive product features (i.e. quality, design sensibility, etc.), and intangible aspects of customers’ experience with a product or company (i.e. reputation, customer experience, etc.).

21. Defining a brand (cont’d)
A successful brand is much more than just a name or logo
Brand is the sum of perceptions about a company or product in the minds of consumers
Effective brand-building can create and sustain a strong, positive, and lasting impression that is difficult to displace

22. Defining a brand (cont’d)
A brand can convey multiple levels of meaning, as follows:
Attributes: specific product features. The Mercedes-Benz brand, for example, suggests expensive, well-built, well- engineered, durable vehicles.
Benefits: attributes translate into functional and emotional benefits. Mercedes automobiles suggest prestige, luxury, wealth, reliability.
Values: company values and operational principles. The Mercedes brand evokes company values around excellence and high performance.
Culture: cultural elements of the company and brand. Mercedes represents German precision, discipline, efficiency, quality.
Personality: strong brands often project a distinctive personality. The Mercedes brand personality combines luxury and efficiency, precision and prestige.
User: brands may suggests the types of consumers who buy and use the product. Mercedes drivers might be perceived and classified differently than, for example, the drivers of Cadillacs, Corvettes or BMWs.

23. Purpose of branding
Effective branding encompasses everything that shapes the perception of a company or product in the minds of customers
Branding also addresses virtually every aspect of a customer’s experience with a company or product: visual design, quality, distinctiveness, purchasing experience, customer service, and so forth
Branding requires a deep knowledge of customers and how they experience the company or product

24. Benefits of branding for the consumer
Brands help simplify consumer choices
Effective branding enables the consumer to easily identify a desirable company or product because the features and benefits have been communicated effectively
Positive, well-established brand associations increase the likelihood consumers will select, purchase and consume the product

25. Benefits of branding for the company
Branding helps create loyalty
It decreases the risk of losing market share to the competition by establishing a differential advantage
Strong brands often command premium pricing from consumers who are willing to pay more for a product they know, trust, and perceive as offering good value
Branding enables the retailer to benefit from brand marketing support by helping to attract more customers

26. brand loyalty
brand loyalty refers to a consumer’s commitment to repurchase or otherwise continue using a particular brand by repeatedly buying a product or service
Aside from a consumer’s ability to repurchase a brand, true brand loyalty exists when the customer is committed to the brand, and the customers have a high relative attitude toward the brand, which is then exhibited through repurchase behavior
The benefits of brand loyalty are longer tenure (or staying a customer for longer), and lower sensitivity to price