Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and...
-
Upload
louisa-peters -
Category
Documents
-
view
218 -
download
3
Transcript of Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and...
![Page 1: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/1.jpg)
Marketing
Oh, tell me more!!
![Page 2: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/2.jpg)
Marketing
►Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok now in my terms
►The process of promoting, selling, and distributing a product or service
![Page 3: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/3.jpg)
Target Market
![Page 4: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/4.jpg)
Target Market
►Marketing Strategy – selecting a target market and create, price, promote & distribute (place) products in the market
►Target Market – Groups of customers who are or will be interested in your product
![Page 5: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/5.jpg)
Market Segments (Targets)
►Demographic Age, income, # of children, religion,
education►Geographic
Climate, region, population density►Behavioral/Psychographic
Attitude toward product, user status, usage rate
Interests, activities, values
![Page 6: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/6.jpg)
Lets Look at Some Ads
►Denver Water Company
![Page 7: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/7.jpg)
Suplicy Cafe
![Page 8: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/8.jpg)
Fiji Water
![Page 9: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/9.jpg)
Burger King
![Page 10: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/10.jpg)
iPhone
![Page 11: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/11.jpg)
Marketing Concept
►Using the needs of customers as the primary focus during planning, production, pricing & distribution & promotion of a product.
![Page 12: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/12.jpg)
Marketing Concept
►Business needs 3 things to happen Identify what will satisfy customer’s needs Develop products that customers think
are better products Business must operate profitably
![Page 13: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/13.jpg)
Marketing Concept
►Two Steps Identify target markets Develop marketing mix
►Product►Pricing►Placing (Distribution)►Promotion
![Page 14: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/14.jpg)
Product►Things to consider about your product
Design Technology Usefulness Convenience Quality Packaging Branding Accessories Warranties Relevance – Time frame – Product Life Cycle
![Page 15: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/15.jpg)
Product
►Different methods can be used to improve/differentiate the product and increase sales or target sales more effectively to gain a competitive advantage like Specialized versions New/Limited editions Improvements Changed packaging Technology, etc.
![Page 16: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/16.jpg)
Product Life Cycle (PLC)
![Page 17: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/17.jpg)
Think of Examples of PLC
►Video Games►Cars
![Page 18: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/18.jpg)
3 Levels of a Product
![Page 19: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/19.jpg)
Pricing
►How should you price your product High? Low? Where do you start?
![Page 20: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/20.jpg)
Pricing Strategies
►Skimming Pricing – Initially offers product at the highest price, lowering it eventually to increase demand again
►Penetration Pricing – Charging a low price to gain market share & lose competition
►Cost-based Pricing – Cost of product + a reasonable mark-up usually a percentage
►Demand-based Pricing – Charging the price that people are willing to pay for the products
![Page 21: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/21.jpg)
Pricing Strategies►Target costing – Working backwards,
how much customers will pay and subtract from profit – this is how much to invest
►Prestige pricing – Pricing high to project high quality
►Odd-even (Psychological) pricing – Pricing a few cents under an even number
►Economy pricing - This is a no frills low price. Marketing costs are kept to a minimum.
![Page 22: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/22.jpg)
49.99
![Page 23: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/23.jpg)
2.59
![Page 24: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/24.jpg)
15.49
![Page 25: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/25.jpg)
15,967
![Page 26: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/26.jpg)
195.49
![Page 27: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/27.jpg)
3,299
![Page 28: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/28.jpg)
25.99
![Page 30: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/30.jpg)
49.99
![Page 31: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/31.jpg)
![Page 32: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/32.jpg)
2.59
![Page 33: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/33.jpg)
![Page 34: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/34.jpg)
15.49
![Page 35: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/35.jpg)
![Page 36: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/36.jpg)
15,967
![Page 37: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/37.jpg)
![Page 38: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/38.jpg)
195.49
![Page 39: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/39.jpg)
![Page 40: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/40.jpg)
3,299
![Page 41: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/41.jpg)
![Page 42: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/42.jpg)
25.99
![Page 43: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/43.jpg)
Price
Important to Know the market Price elasticity
►Definition Know your
competition’s prices
![Page 44: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/44.jpg)
Price Elasticity
►A measure to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price.
►Are these products’ prices elastic? Toilet Paper Gas Picture Frame $500 pizza
![Page 45: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/45.jpg)
Placing/Distribution
►All activities involved in getting the right quantity to the right customer at the right time at a reasonable cost.
![Page 46: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/46.jpg)
Distribution/Placing
► Indirect vs Direct Manufacturer Wholesaler/Distributor Internet Catalog/Mail Order Sales Team Dealer Retail Multi-channel
![Page 47: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/47.jpg)
Distribution/Placing
►Determining the best ways for customers to locate, obtain, and use the products/services
►Things to consider Cost of shipping Cost of distribution channel Ease/best way to get the product to
customer
![Page 48: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/48.jpg)
Marketing Plan – 11/5/13
►How you will break down your target market based on the 3 segmentations? Be specific
►In depth strategy on how you will price your product Explain why the strategy, factors behind
pricing, future price changes►In depth distribution strategy
What channels you will use and why Factors/problems that may arise in
distribution
![Page 49: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/49.jpg)
Promotion
I've been told of some crazy schemes and I've come up with even crazier ways of promoting them.Max Markson - Media Man of Australia
![Page 50: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/50.jpg)
Marketing Communications
![Page 51: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/51.jpg)
Promotions Mix
►Personal Selling►Sales Promotion►Public Relations►Direct Mail►Trade Fairs & Exhibitions►Advertising►Sponsorship►Online Promotions►Website
![Page 52: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/52.jpg)
Personal Selling
►Examples? Used Cars Vacuum Cleaners
![Page 53: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/53.jpg)
Sales Promotion
►Examples? BOGOF Coupons Money Off (Rebates) Competitions Free Accessories Introductory Offers
![Page 54: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/54.jpg)
Public Relations (PR)
►The deliberate, planned & sustained effort to establish & maintain communication between an organization & the public
►“All attention is good attention”►Examples?
Airlines Celebreties
![Page 55: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/55.jpg)
Direct Mail/Email Marketing
►Examples? Emails Mailing lists 18 Free Wings for your B-day! Free Ice Cream from Cold Stone!
►Part email promotion, part direct mailings
![Page 56: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/56.jpg)
Trade Fairs & Exhibitions
►Examples? Video Games Boat Shows
![Page 57: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/57.jpg)
Advertising
►“Paid for” communication Commercials Billboards Online Radio
►Obscure Examples? Buses Cinema Tatoos
![Page 58: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/58.jpg)
Sponsorship
►Very powerful►Examples?
![Page 59: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/59.jpg)
Online Promotions
►Examples? Pay per click Sponsor a website Email Social Media
►Google Analytics Websites
![Page 60: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/60.jpg)
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
![Page 61: Marketing Oh, tell me more!!. Marketing ► Set of processes for creating, communicating, and delivering value to customers for improving customer relationships….ok.](https://reader035.fdocuments.in/reader035/viewer/2022062421/56649d935503460f94a79f5c/html5/thumbnails/61.jpg)
Evaluating Your Marketing Mix
► 1) Look at your sales (or fee income). ► 2) Ask your clients. ► 3) Does your advertising and/or promotional activity
produce direct responses?4) Do your networking activities create new opportunities for you?
► 5) Do your marketing tactics make it easier to sell your services?
► 6) Check your sales conversion rate. The best approach here is to look at your historical records and determine
whether your conversion (or closure) rate has improved.
► 7) Does your plan have a positive return on investment (ROI)? Does it bring in enough new/repeat business to justify the expense?