1. Introduction to Marketing
“ If a man write a better book, a better sermon, or make a better mousetrap than his neighbour, tho’ he build his house in the woods, the world will make a beaten path to his door.”
Ralph Waldo Emerson
1899

2. Marketing
The entire process by which a product or service is moved from the producer to the consumer.
Question
How does a entrepreneur/business-person encourage today’s sophisticated consumer to “beat a path” to the businesses door and buy their product/service?
Answer
A carefully prepared and executed Marketing Strategy.

3. Marketing Strategy Also called a Marketing Plan.
Important for all types of ventures, both for-profit and not- for-profit.
Whenever something of value is exchanged for something else of value, a marketing strategy increases the chances of success.
Ensures resources expended on marketing are properly aimed/focused and are appropriate.

4. Marketing Strategy Function One
Identify target customers and define the product or service they are prepared to buy.

5. Marketing Strategy Function Two
Indicate the size of the potential market and outline possible trends.

6. Marketing Strategy Function Three
Identify who your potential competitors may be and how you may gain a competitive advantage over them

7. Marketing Strategy Function Four
Identify sales expectations for a particular product or service, and the kind of promotion or advertising activity necessary to achieve those sales.

8. Marketing Strategy In Review Identify target customers
Research the market characteristics
Identify competitors and how to best them
Establish sales goals and determine advertising methods