1. Marketing
Anesh Maniraj Singh

2. The Rookie 5

3. Homework What Marketing mistakes did you make in this exercise?
Describe your target market for the product/service you were selling?
What approach did you take towards your market?

4. Homework What is consumer behaviour?
How would you describe your target market in terms of their behaviour characteristics?
What did your group do to ensure the success of your product/service?

5. What is marketing?

6. Business Functions Marketing Finance Information Production Systems
Organisation
Finance
Production
Human Resources
Information
Systems
Marketing

7. Marketing Activities Marketing Advertising Sales Research
Customer Service

8. Marketing - Definition
Marketing is the art of determining the customers wants and needs, and developing satisfaction in the form of products and services, whilst making a profit.
Philip Kotler

9. The Marketing Equation
Profit +
Need Identification
Need
Satisfaction =

10. How do people acquire products?

11. Markets and Industries
A Market refers to
Groups of people
Willing and able to exchange money
Buy goods and services
An Industry refers to
Groups of businesses
Willing and able to sell goods and services
In exchange for money

12. Approaches to the Market
Needs of the Seller
Production approach
Product approach
Selling approach
Needs of the Buyer
Marketing approach
Societal marketing
Relationship marketing
Electronic marketing
Social network marketing
Holistic Approach

13. Marketing
Consumer Behaviour

14. Definition Consumer Behavior is the study of Seeks to answer
The mental and social processes and actions a consumer takes preceding and following the purchase and use of products and services
Seeks to answer
Who?
Where?
When?
Why?
How much?

15. Factors that Affect Consumer Behavior
Cultural Factors
Religious beliefs, values, norms
Socio-cultural Factors
Relationships with others
Psychological Factors
Personality, perception, motivation
Personal Factors
Age, family size, affordability
Marketing Mix Factors
Product, Price, Place, Promotion

16. Psychological Factors

17. Buying Decision Process

18. Marketing The Marketing Mix

19. The Marketing Mix
Product
Price
Promotion
Place
Target Market

20. Marketing Mix
Product

21. Anatomy of a Product

22. Product Life Cycle
Time
Sales

23. Why do new products fail?
Poor quality
Poor advertising and support
Doesn’t match claims
High production costs
Poor timing of launch
Not meeting the needs of consumers

24. Marketing Branding

25. What is a Brand?
A name, symbol, term or sign that identifies the products of one manufacturer from another
Brands help consumers differentiate between similar products

26. Barrier to competition
Why Brand?
Branding
Differentiation
Familiarity
Build trust
Build loyalty
Barrier to competition
Prevents switching
Premium price
Lower marketing costs
Brand Equity

27. Effective Brand Names Easy to Say Easy to Spell Easily remembered
Free of ambiguity/negative connotations
Should not be used by another party
Communicates the product use/benefit

28. Beware …

29. Marketing Mix PRICE

30. Pricing
Objectives
Profit
Sales
Status Quo

31. Basic Principle Cost Price Volume Main consideration is cost recovery
Cost Based – cost plus pricing

32. Pricing Strategies Price Penetration Price Skimming Status Quo Pricing
Intended for products with a long life cycle
Introduction price is low
Gradual increase in price
Price Skimming
Intended for products with short life cycle
Introduction price is very high
Gradual decrease to get rid of stocks
Status Quo Pricing

33. Pricing Tactics One Price Policy Variable Pricing Flexible Pricing
Odd/Psychological Pricing
Bundle Pricing
Freemium Pricing
Leader Pricing
Bait & Switch Pricing

34. Marketing Mix PLACE

35. Importance of Channels
Specialisation & Division of Labor
Overcoming Discrepancies
Contact Efficiency

36. Distribution ChannelsM A N U F C T R E C O N S U M E R
Retailer
Retailer
Wholesaler
Retailer
Wholesaler
Agent

37. Retail Location Location Market Size Suppliers Competitors Visibility
Accessibility
Parking
Costs
Crime

38. Three secrets for success
Location
Population 5 million

39. Marketing Mix Promotion

40. Promotion Personal Selling Direct Marketing
Telesales, Catalogue Sales, Television Shopping, Internet Shopping
Publicity
Sponsorships, Press Conferences, Consumer Endorsements
Sales Promotion
Coupons, demonstrations, prizes, loyalty rewards among others
Advertising
TV, radio, billboards, newspapers etc.

41. Preferred means of communication Objectives of Advertising
Mass communication
Relatively cheap
It is informative
Preferred means of communication
To inform – new products, price changes
To persuade – competitive advertising
To remind – keep product in consumers mind
Objectives of Advertising

42. Five M’s of Advertising
Mission
Money
Media
Message
Measurement

43. Modern Media E-mail Advertising Website Advertising Mobile Advertising
Social Network Advertising

44. Problems with Advertising
It is intrusive
Can be false or grossly exaggerated
It is one way only
Can suffer from non-delivery
May not promote immediate action