1. Marketing

2. Marketing
Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok now in my terms
The process of promoting, selling, and distributing a product or service

3. Target Market

4. Target Market
Marketing Strategy – selecting a target market and create, price, promote & distribute (place) products in the market
Target Market – Groups of customers who are or will be interested in your product

5. Market Segments (Targets)
Demographic
Age, income, # of children, religion, education
Geographic
Climate, region, population density
Behavioral/Psychographic
Attitude toward product, user status, usage rate
Interests, activities, values

6. Lets Look at Some Ads
Denver Water Company

7. Suplicy Cafe

8. Fiji Water

9. Burger King

10. iPhone

11. Marketing Concept
Using the needs of customers as the primary focus during planning, production, pricing, distribution & promotion of a product.

12. Marketing Concept Business needs 3 things to happen
Identify what will satisfy customer’s needs
Develop products that customers think are better products
Business must operate profitably

13. Marketing Concept Two Steps Identify target markets
Develop marketing mix
Product
Pricing
Placing (Distribution)
Promotion

14. Product Things to consider about your product Design Technology
Usefulness
Convenience
Quality
Packaging
Branding
Accessories
Warranties
Relevance – Time frame – Product Life Cycle 14

15. Product
Different methods can be used to improve/differentiate the product and increase sales or target sales more effectively to gain a competitive advantage like
Specialized versions
New/Limited editions
Improvements
Changed packaging
Technology, etc. 15

16. Product Life Cycle (PLC)

17. Think of Examples of PLC
Video Games - Atari
Cars – 1966 Pontiac GTO

18. 3 Levels of a Product

19. Pricing How should you price your product High? Low?
Where do you start?

20. Pricing Strategies
Skimming Pricing – Initially offers product at the highest price, lowering it eventually to increase demand again
Penetration Pricing – Charging a low price to gain market share & lose competition
Cost-based Pricing – Cost of product + a reasonable mark-up usually a percentage
Prestige pricing – Pricing high to project high quality
Odd-even (Psychological) pricing – Pricing a few cents under an even number
Economy pricing - This is a no frills low price. Marketing costs are kept to a minimum.

21. 49.99

22. 2.59

23. 15.49

24. 15,967

25. 195.49

26. 3,299

27. 25.99

29. 49.99

31. 2.59

33. 15.49

35. 15,967

37. 195.49

39. 3,299

41. 25.99

42. Important to Price Know the market Price elasticity
Definition
Know your competition’s prices 42

43. Price Elasticity
A measure to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price.
Are these products’ prices elastic?
Toilet Paper
Gas
Picture Frame
$500 pizza

44. Placing/Distribution
All activities involved in getting the right quantity to the right customer at the right time at a reasonable cost.

45. Distribution/Placing
Manufacturer
Wholesaler/Distributor
Internet
Catalog/Mail Order
Sales Team
Dealer
Retail
Multi-channel

46. Distribution/Placing
Determining the best ways for customers to locate, obtain, and use the products/services
Things to consider
Cost of shipping
Cost of distribution channel
Ease/best way to get the product to customer

47. Marketing Plan
How you will break down your target market based on the 3 segmentations?
Be specific
In depth strategy on how you will price your product
Explain why the strategy, factors behind pricing, future price changes
In depth distribution strategy
What channels you will use and why
Factors/problems that may arise in distribution

48. Promotion
I've been told of some crazy schemes and I've come up with even crazier ways of promoting them. Max Markson - Media Man of Australia

49. Marketing Communications

50. Promotions Mix Personal Selling Sales Promotion Public Relations
Direct Mail
Trade Fairs & Exhibitions
Advertising
Sponsorship
Online Promotions
Website

51. Personal Selling
Examples?
Used Cars
Vacuum Cleaners

52. Sales Promotion Examples? BOGOF Coupons Money Off (Rebates)
Competitions
Free Accessories
Introductory Offers

53. Public Relations (PR)
The deliberate, planned & sustained effort to establish & maintain communication between an organization & the public
“All attention is good attention”
Examples?
Airlines
Celebreties

54. Direct Mail/Email Marketing
Examples? s
Mailing lists
18 Free Wings for your B-day!
Free Ice Cream from Cold Stone!
Part promotion, part direct mailings

55. Trade Fairs & Exhibitions
Examples?
Video Games
Boat Shows

56. Advertising “Paid for” communication Obscure Examples? Commercials
Billboards
Online
Radio
Obscure Examples?
Buses
Cinema
Tatoos

57. Sponsorship
Very powerful
Examples?

58. Online Promotions Examples? Pay per click Sponsor a website Email
Social Media
Google Analytics
Websites

59. The Marketing Mix Blend of the mix depends upon: Marketing objectives
Type of product
Target market
Market structure
Rivals’ behaviour
Global issues – culture/religion, etc.
Marketing position
Product portfolio 64

60. Evaluating Your Marketing Mix
1) Look at your sales (or fee income).
2) Ask your clients.
3) Does your advertising and/or promotional activity produce direct responses? 4) Do your networking activities create new opportunities for you?
5) Do your marketing tactics make it easier to sell your services?
6) Check your sales conversion rate.
The best approach here is to look at your historical records and determine whether your conversion (or closure) rate has improved.
7) Does your plan have a positive return on investment (ROI)?
Does it bring in enough new/repeat business to justify the expense?