2. http://www.bized.co.uk Copyright 2006 – Biz/ed What is Marketing? A simple definition... The American Marketing Association defines Marketing as “the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

3. http://www.bized.co.uk Copyright 2006 – Biz/ed Marketing put simply: Marketing includes all of the activities and functions required in a business or organization to get goods, services, or ideas from where they are produced or created to where they are consumed.

4. http://www.bized.co.uk Copyright 2006 – Biz/ed Buyer & Seller From a buyer’s point of view - a market is any place where goods, services, or ideas are bought and sold. From a seller’s point of view - a market is a group of people with needs and the financial ability and willingness to satisfy those needs. Markets are all around us! Marketing brings the producer and the consumer together

5. http://www.bized.co.uk Copyright 2006 – Biz/ed The Marketing Concept Determining the needs or wants of the buyer Emphasizing the needs or wants of the buyer Customer oriented - “The customer always comes first!” Determine the need Raise sufficient funds Make the Product Market the Product Customer Satisfaction

6. http://www.bized.co.uk Copyright 2006 – Biz/ed The Role of Marketing The success of a business is directly related to being able to identify product or service needs of consumers and satisfy those needs If a business is not able to do this, it will face financial & business failure Marketing - creates demand for the company’s products and services and services that demand.

7. http://www.bized.co.uk Copyright 2006 – Biz/ed Questions??? Buyer’s market? Seller’s market? Marketing defined? Marketing Concept? Marketing Mix - 7 P’s? Role of Marketing? Further Discussion

8. http://www.bized.co.uk Copyright 2006 – Biz/ed The Marketing Mix

9. http://www.bized.co.uk Copyright 2006 – Biz/ed The Marketing Mix

10. http://www.bized.co.uk Copyright 2006 – Biz/ed The Marketing Mix The tools available to a business to gain the reaction it is seeking from its target market in relation to its marketing objectives 7Ps – Price, Product, Promotion, Place, People, Process, Physical Environment Traditional 4Ps extended to encompass growth of service industry

11. http://www.bized.co.uk Copyright 2006 – Biz/ed Price

12. http://www.bized.co.uk Copyright 2006 – Biz/ed Price Pricing Strategy Importance of: –knowing the market –elasticity –keeping an eye on rivals Image copyright: www.freeimages.co.uk

13. http://www.bized.co.uk Copyright 2006 – Biz/ed Product

14. http://www.bized.co.uk Copyright 2006 – Biz/ed Product Methods used to improve/differentiate the product and increase sales or target sales more effectively to gain a competitive advantage e.g. –Extension strategies –Specialised versions –New editions –Improvements – real or otherwise! –Changed packaging –Technology, etc. Image copyright: www.freeimages.co.uk

15. http://www.bized.co.uk Copyright 2006 – Biz/ed Promotion

16. http://www.bized.co.uk Copyright 2006 – Biz/ed Promotion Strategies to make the consumer aware of the existence of a product or service NOT just advertising

17. http://www.bized.co.uk Copyright 2006 – Biz/ed Place

18. http://www.bized.co.uk Copyright 2006 – Biz/ed Place The means by which products and services get from producer to consumer and where they can be accessed by the consumer –The more places to buy the product and the easier it is made to buy it, the better for the business (and the consumer?)

19. http://www.bized.co.uk Copyright 2006 – Biz/ed People

20. http://www.bized.co.uk Copyright 2006 – Biz/ed People People represent the business –The image they present can be important –First contact often human – what is the lasting image they provide to the customer? –Extent of training and knowledge of the product/service concerned –Mission statement – how relevant? –Do staff represent the desired culture of the business?

21. http://www.bized.co.uk Copyright 2006 – Biz/ed Process

22. http://www.bized.co.uk Copyright 2006 – Biz/ed Process How do people consume services? What processes do they have to go through to acquire the services? Where do they find the availability of the service? –Contact –Reminders –Registration –Subscription –Form filling –Degree of technology

23. http://www.bized.co.uk Copyright 2006 – Biz/ed Physical Environment

24. http://www.bized.co.uk Copyright 2006 – Biz/ed Physical Environment The ambience, mood or physical presentation of the environment –Smart/shabby? –Trendy/retro/modern/old fashioned? –Light/dark/bright/subdued? –Romantic/chic/loud? –Clean/dirty/unkempt/neat? –Music? –Smell?

25. http://www.bized.co.uk Copyright 2006 – Biz/ed 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 –Product Life CycleProduct Life Cycle –Boston Matrix - ActivityBoston MatrixActivity