MarketingMarketing

A market is never saturated with a good product, but it is very A market is never saturated with a good product, but it is very quickly saturated with a bad one.quickly saturated with a bad one.

Henry Ford - -

Identifying and Responding to Identifying and Responding to Customer NeedsCustomer Needs

MarketingMarketing is satisfying the customer at a profit. is satisfying the customer at a profit.

Nike sells sneakers but also Nike sells sneakers but also markets markets themthem““Just Do ItJust Do It””

Customer Needs…conCustomer Needs…con’’tt

Marketing is the Marketing is the business function business function that identifies that identifies customer needs customer needs and responds to and responds to themthem

““The art of getting The art of getting the customer to the customer to come to the come to the product.product.””

Have SMART Marketing Have SMART Marketing ObjectivesObjectives

Meet Your CustomersMeet Your Customers’’ Needs Needs to Gain Their Loyaltyto Gain Their Loyalty

Make your current and future customers your top Make your current and future customers your top prioritypriority

Together, this group is your Together, this group is your marketmarket

You will strive to build a loyal customer baseYou will strive to build a loyal customer base

This may lead to word of mouth networking…$$$ This may lead to word of mouth networking…$$$ for you!for you!

Marketing Explains the Benefits Marketing Explains the Benefits of a Productof a Product

A customer who A customer who goes to the goes to the hardware store to hardware store to buy a drill does not buy a drill does not need a drill- he need a drill- he needs a hole.needs a hole.

Your marketing Your marketing should emphasize should emphasize what good holes what good holes your drills makeyour drills make

The Marketing Vision Drives All The Marketing Vision Drives All Business DecisionsBusiness Decisions

Who are my customers?Who are my customers?

What do they need my product or service to do?What do they need my product or service to do?

The vision is the benefit you want to show The vision is the benefit you want to show customers that your product or service provides.customers that your product or service provides.

What is NikeWhat is Nike’’s s ““Just Do ItJust Do It”” vision? vision?

Marketing Establishes Your Marketing Establishes Your BrandBrand

People get in mind People get in mind the the BrandBrand of a of a company through company through marketingmarketing

Each brand and Each brand and competitive competitive advantage has been advantage has been established in your established in your mind through TV mind through TV commercials, print commercials, print ads and other ads and other marketing effortsmarketing efforts

Examples of BrandingExamples of Branding

What do the following represent to you?:What do the following represent to you?:McDonaldMcDonald’’ss

SubwaySubway

VolvoVolvo

MercedesMercedes

Brand or Product?Brand or Product?

Band AidBand Aid

KleenexKleenex

CokeCoke

How to Build Your BrandHow to Build Your Brand1. Choose a name that 1. Choose a name that is easy to remember is easy to remember (establish a (establish a ““mind mind shareshare””))

2. Create a logo2. Create a logo

3. Develop a good 3. Develop a good reputationreputation

4. Create a brand 4. Create a brand personalitypersonality

5. Communicate your 5. Communicate your brand personality to brand personality to your target marketyour target market

You Represent Your BrandYou Represent Your Brand

Provide a high quality Provide a high quality product or serviceproduct or service

Maintain the highest Maintain the highest level of ethical level of ethical standardsstandards

Define your product or Define your product or service clearlyservice clearly

Treat your employees Treat your employees wellwell

Make all your ads Make all your ads positive and positive and informativeinformative

Get involved with a Get involved with a charitycharity

Become involved in Become involved in your communityyour community

Make sure your idea Make sure your idea does not pollute the does not pollute the environmentenvironment

The 4 PThe 4 P’’s of Marketings of Marketing

ProductProduct

PlacePlace

PricePrice

PromotionPromotion

Other Promotional ToolsOther Promotional Tools

Business CardsBusiness Cards

T-shirtsT-shirts

HatsHats

FreebiesFreebies

DiscountsDiscounts