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What Is Marketing
 

What Is Marketing

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    What Is Marketing What Is Marketing Presentation Transcript

    • What is Marketing?
      • ‘ Marketing is the management process involved in identifying, anticipating and satisfying customer wants profitably.’ (Institute of Marketing)
      • Marketing is not just selling. it is about knowing and understanding your customer
      • ‘ The aim of marketing is to make selling superfluous. The aim is to know and understand the customer so well that the product or service sells itself.’ (Peter Drucker)
    • The Marketing Process Gather information through market research (secondary and primary) Analyse market research findings Implement marketing strategy using Marketing Mix Review marketing strategy Set business & marketing objectives
    • Appendices 13 References 12 SWOT analysis and Evaluation of Marketing Plan 11 Promotional Material 10
      • Marketing Plan:
      • Marketing Strategy
      • Product
      • Price
      • Promotion & Promotional Budget
      • Placement
      9 Business Environment 8 Analysis & Evaluation of Market Research Findings 7 Market Research 6 The Importance of Marketing 5 Aim, Mission Statement, Objectives and Constraints 4 Company Name 3 Business Proposal 2 Action Plan 1 Contents page Contents page Title page Title page HEADING SECTION
    • The Marketing Mix Product Price Promotion Place
    • Production or Consumer Led?
      • PRODUCT ORIENTATION an approach to business which places the main focus of attention upon the production process and the product itself
      • MARKET ORIENTATION an approach to business which places the wants of the consumers at the centre of the decision making process
    • Analysing the Market
      • MARKET SEGMENTATION: the process of dividing a market into sub-groups (segments & niches) which share similar characteristics
      • MARKET SEGMENT: Part of the market which contains a group of buyers with similar characteristics, ie, age, income
      • MARKET NICHE: a very small segment of the market
    • Ways to Segment a Market
      • Age
      • Gender
      • Education level
      • Occupation
      • Socio-economic group
      • Income
      • Lifestyle
      • Family
      • Geographical
      • Ethnicity & culture
      • Religion
      • Type of purchase – planned or impulse
    • STP Model of Marketing MARKET SEGMENTATION MARKET TARGETING PRODUCT POSITIONING The process of dividing a market into segments and niches Choose particular segment or niche as target market Use marketing mix to develop Unique Selling Proposition for product to differentiate it from rivals
    •  
    • PRODUCT POSITION MAPS
      • Market research helps identify your position in the market 
      • Think about your MARKET RESEARCH DESIGN
      • e.g. age group 10 - 30 - not a lot of use
      • Break down further
      • This will help you identify gaps
    • Positioning Map 1 High price Low price High quality service Quick, standard service Frank’s Toni & Guy Vidal Sassoon Maria’s Splitz Hollywood Hair Kojak Hairstylists
    • Positioning Map 2 Premium price Budget price Aspirational (image) Commodity (function) Barratt K shoes Bally Shelleys Ravel Clarks Crest Church’s Dolcis
    • Positioning Map 3 Adult Child Refreshment Indulgence Bounty Tropical Solero Twister Calippo Opal fruits Starburst Cornetto Feast Mars Magnum Vanilla tubs Mini milk Mini juice
    •