‘You cannot control you own future. Your destiny is not in your hands. It is in the hands of the irrational consumer and society. The changes in the needs, desires and demands will tell you where you must go. You must feel the pulse of change on a daily, continuous basis. Intense curiosity, observe events, analyse trends, seek the clues of change, And translate those clues into opportunities.’ Michael Karni
Introduce Yourselves Name Business Business/Work History Family What Your Understanding Of Marketing Is? What Has Your Business Done When It Comes To Marketing? What are your objectives from this course? Something no-one knows about you
About Me 36 Born in Bromley, Kent Moved to Australia in 2003 Director of TwoCents Group - creative marketing & advertising agency Branding Graphic Design Marketing Consultancy Advertising Campaigns Social Media Previous jobs Marketing, branding and advertising Social networking
Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and its profit potential. It pinpoints the market segments that the company is capable of serving best and it designs and promotes the appropriate and services.
Human beings have an in-built need to communicate. 1st Information Communication Revolution: pictographs, carved on stone, too heavy to move 2nd Information Communication Revolution: alphabets, paper, wax, uniform language across large distances; printing press 3rd Information Communication Revolution: information transferred through waves and electronic signals
Indentify opportunity New Product Development Attracting customers Customer retention and loyalty building Order fulfillment
Core Marketing Principles The centre of all marketing planning are the customers, the competition and your suppliers. Apply segmentation to your market and go after the promising segmentation For each target market, research needs, perceptions, preferences and buying processes Win by carefully defining, creating and delivering a superior value promise.
Marketing must play lead role in developing business strategy “A company has only two basic functions: innovation & marketing” – Peter Drucker Marketing senses people’s unfulfilled needs and creates new and attractive solutions – iTunes – in some circumstances, marketing senses needs that consumers haven’t even thought of as a need.
Power has shifted from suppliers to consumers – why? What is your market worth? Is it increasing or decreasing? What is your share worth? Locally? Nationally? What is a trend? Local trends Megatrends Trend change is becoming faster – how do you stay on top of them? What is a consumer insight? Example: Golden age spending