Presentation On MARKETING

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals

American Marketing Association

MARKETING MEANS

PRODUCER/SELLER

SIMPLE MARKETING SYSTEM

CONSUMER

INFORMATION / FEEDBAK

COMMUNICATION

MONEY

GOODS/SERVICE

To attract new customer by promising superior value, and to

keep current customers by

delivering satisfaction.

Core Concepts of Marketing

Needs, Wants Demands Products Utility, Value &

Satisfaction

Markets Marketing& Marketers

Exchange, Transaction

Relation

The Marketing Mix -4 Ps

The Marketing Mix -4 Cs

Factors Influencing Company’s Marketing Strategy

EXTERNAL MARKETING ENVIRONMENT

MACRO ENVIRONMENT

The macro-environment consists of those factors that the company has very little control over

Demographic forces refers to the composition of a company's market(s) and includes whether or not this composition is likely to change. For example, the number of Hispanics as a percentage of the U.S. population is increasing and this may impact a company's sales as to whom they should target. Demographics includes: age, race, sex, income, education. Economic forces has to do with the economic conditions of the local, state, national, and international economies that can affect the firm.Natural forces includes the weather (natural disasters, for example). Technological forces include the impact that new technology can have on a firm.Political/legal forces include the political process and/or changing laws/regulations that can impact a firm.Cultural forces has to do with changing values of a culture.

A good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want. It has a combination of tangible and

intangible attributes (benefits, features, functions, uses) that a seller offers a buyer for purchase.

For example a seller of a toothbrush not only offers the physical product but also the idea that the consumer will be

improving the health of their teeth

PRODUCT = ?

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Product Items, Lines, and Mixes

Product Item

Product Line

Product Mix

A specific version of a product that can be designated as a

distinct offering among an organization’s products.

A group of closely-related product items.

All products that an organization sells.

THE PRODUCT LIFE CYCLEProducts often go through a life cycle. Initially, a product is

introduced. Since the product is not well known and is usually expensive (e.g., as microwave ovens were in the late 1970s), sales

are usually limited. Eventually, however, many products reach a growth phase—sales increase dramatically. More firms enter with their models of the product. Frequently, unfortunately, the product

will reach a maturity stage where little growth will be seen.

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PRICING STRATEGYMarket-Skimming Pricing

Setting a high price for a new product to skim maximum revenues layer by layer from segments willing to pay the high price.

Market-Penetration PricingSetting a low price for a new product in order to attract a large number of buyers and a large market share.

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Product Line PricingSetting price steps between product line items. Price points

Optional-Product PricingPricing optional or accessory products sold with the main product

Pricing Strategies

Captive-Product PricingPricing products that must be used with the main product

High margins are often set for suppliesServices: two-part pricing strategy

Fixed fee plus a variable usage rate

By-Product PricingPricing low-value by-products to get rid of them

Product Bundle PricingPricing bundles of products sold together

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Price Adjustment Strategies

Discount / allowance Segmented

PsychologicalPromotionalGeographicalInternational

• Types of discounts– Cash discount– Quantity discount– Functional (trade) discount– Seasonal discount

• Allowances– Trade-in allowances– Promotional allowances

Strategies

Placement (or distribution): refers to how the product gets to the customer; for example, point-of-sale placement or retailing. This fourth P has also sometimes been called Place, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. also referring to how the environment in which the product is sold in can affect sales.

PLACE

DISTRIBUTION Channel Level

Marketing - Promotion Strategy

•ADVERTISING •SELLING •SALES PROMOTION•PUBLIC RELATIONS

Marketers are focused on stimulating exchanges with customers who make up markets – B2C or B2B.

The market is comprised of people who play a series of roles: decision makers, consumers, purchasers, and influencers.

It is absolutely essential that marketers have a detailed understanding of consumers, their needs and wants.

Much happens before and after the sale to affect customer satisfaction

Marketers and Markets

MARKETING CHALLENGES AHEAD

• MORE ETHICS AND SOCIAL RESPONSIBILITY NEEDED•THE RAPID GROWTH OF INFORMATION AND TECHOLOGY•GROWTH OF NON-PROFIT MARKETING •GLOBALISATION •RAPID GLOBALIZATION •THE CHANGING WORLD ECONOMY