What Is Marketing

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  • 1. 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)
  • 2. 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
  • 3. 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
  • 4. The Marketing Mix Product Price Promotion Place
  • 5. 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
  • 6. 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
  • 7. 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
  • 8. 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
  • 9.  
  • 10. 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
  • 11. 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
  • 12. Positioning Map 2 Premium price Budget price Aspirational (image) Commodity (function) Barratt K shoes Bally Shelleys Ravel Clarks Crest Church’s Dolcis
  • 13. 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
  • 14.