Intro ToMarketing

Management

Prepared by: TE Data HM Product Development Unit

Marketing

Is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

The Aim Of Marketing

What Is Marketed?

Basic Marketing Principles

Basic Marketing Principles

Need

Basic Marketing Principles

Want

The Needs become Wants when they are directed to specific objects that might satisfy the need.

Basic Marketing Principles

Demand

Are wants for specific products backed by an ability to pay.

Maslow’s Hierarchy Of Needs

Demand States

No DemandDeclining Demand

Negative Demand

Irregular Demand

Latent Demand

Full Demand

Overfull Demands

Unwholesome Demand

Apple Vs. Latent Demand !

Segmentation

Is dividing up the market into distinct groups of buyers.

Segmentation

Demographics

Age, gender, income, education, marital status, education, or even profession/Occupation.

Segmentation

Psychographics

Personality and emotions' based on behavior, linked to purchase choices, including attitudes, lifestyle, hobbies, risk aversion, personality and leadership traits.

Segmentation

Geography

Country, region, area, metropolitan or rural location, population density or even climate.

Segmentation

Targeting

After Identifying market segment, the marketer decides which present the greatest opportunities which is target markets.

Targeting

Positioning

Is a marketing strategy that aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer.

Positioning Strategies

• Attributes / Benefits

• Price / Quality

• Use / Application

• Product Class

• Competitors

• Product Users

Marketing Mix

Is a business tool used in marketing and by marketers when determining a product or brand's offer

Product Life Cycle

Strategic Planning

Is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy.

Strategic Planning

To Fit between:

–Market opportunity

–Objectives defined

–Resources required

–Skills developed

Strategic Planning Role

Vision & Mission

Peter Drucker’s classic questions:

What is our business?

Who is the customer?

What is of value to the customer?

What will our business be?

What should our business be?

Good Mission Statement

- Focus on limited number of goals- Stress the company policies and values- Take a long- term view- Short, memorable and meaningful as Possible

Slogan

We make movieswe market entertainment

We make Copierswe help improve office productivity

MKT Analysis

MKT Analysis

Portfolio Analysis

The Boston Consulting Group’s Growth-Share Matrix ( BCG )

Marketing Research

as the systematic design, collection, analysis, and reporting ofdata and findings relevant to a specific marketing situationfacing the company.

DATA SOURCES:The researcher can gather secondary data, primary data, or both.

RESEARCH APPROACHES Marketers collect primary data in five mainways through, observation, focus groups, surveys, behavioral data,and experiments.

Philip Kotler