2. 1 Introduction to Marketing Chapter 7

3. What is marketing? ‘ Marketing is the management process that identifies, expects and satisfies customer requirements profitably’.  ‘The right product, in the right place, at the right time, and at the right price’

4. 3 The Goal of Marketing is: To attract new customer by ensuring superior value, and to keep current customers by delivering satisfaction.

5. 4 Marketing, more than any other business function, deals with customers. Creating customer value and satisfaction are at the very heart of modern marketing thinking and practice.

6. 5 Difference Between - Sales & Marketing ? Sales: trying to get the customer to want what the company produces. Marketing : trying to get the company produce what the customer wants

7. Who is a Customer ?? 6 Anyone who is in the market looking at a product / service for attention, acquisition, use or consumption that satisfies a want or a need CUSTOMER IS.....

8. CUSTOMER has needs, wants, demands and desires Understanding these needs is starting point of the entire marketing 7

9. a)ProductProduct b)PricePrice c)PlacePlace d)PromotionPromotion Marketing Mix (4 P)

10. The 4 Ps of Marketing 9 Marketing Mix Product Price Promotion Place

11. 10 Anything that is offered to the market for attention, purchase, or use that satisfies a want or a need a. Product is.....

12. a) Product  nowadays: - products have a life cycle - product range is always expanded - find out what target market desires  traditional economies: same things produced and consumed

13. Types of Products 12 Consumer Products Industrial Products PRODUCTS Services

14. Some Industries - Service Sector Banking, Restaurants, Insurance News and entertainment Health care Education Wholesaling and retailing dry-cleaning 13

15. b) Price Pricing strategies: 1. Market determines the price 2. Price as an expression of quality 3. Price as a method of gaining market share back

16. c) Place (distribution) Production siteWarehouse Wholesaler Retailer consumer back

17. d) Promotion Aims:  communicate with customers  influence customers 4 major tools: 1.Sales forceSales force 2.AdvertisingAdvertising 3.Sales promotionSales promotion 4.Public relationsPublic relations

18. 1. Advertising Presents a reason to buy a product/service Media: back

19. 2. Sales promotion  is a short-term motivation to buy a product/service Techniques: 3. two for one 2. loyalty reward points 1 price reduction

20. 3. Public relations Does not aim to increase sales directly but tries to enhancement the image of the company - - community events - charitable events Techniques: - press conferences

21. A nalysis Of Competition  Who are your competitors?  What are their strengths and weaknesses?  What have been their strategies?  How are they likely to respond to your Marketing plan? 20

22. The Marketing Plan A written document that acts as a guidebook of marketing activities for the marketing manager 21

23. 22 CONTENTS of MARKETING PLAN  Business Mission Statement  Objectives  Situation Analysis (SWOT)  Marketing Strategy  Marketing Mix  Product  Promotion  Price  Place – Distribution Implementation, Evaluation and Control

24. 23 The Marketing Process Business Mission Statemen t Objective s Situation or SWOT Analysis Implementation Evaluation, Control Target Market Strategy Marketing Strategy Product Promotion Place/Distribution Price Marketing Mix

25. Marketing Environment All the forces influencing the company’s ability to conduct business effectively with it’s target market.

26. Market Environment Includes: Micro-environment Micro-environment - forces close to the company that affect its ability to serve its customers. Macro-environment Macro-environment - larger societal forces that affect the whole microenvironment

27. Company Demographic Economic Natural Technological Political Cultural Company Customers Intermediaries Suppliers Competitors Public

28. PEST analysis Political factors Economic factors Socio-cultural factors Technological factors

29. Political/legal Environmental protection laws Taxation policy Employment laws Government policy Legislation

30. Economic Factors Inflation Employment Disposable income Energy availability and cost

31. Sociocultural factors Demographics Distribution of income Social mobility Lifestyle changes Levels of education

32. Technological New discoveries and innovations Speed of technology transfer Internet Information technology