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Introduction to Marketing
 

Introduction to Marketing

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    Introduction to Marketing Introduction to Marketing Presentation Transcript

    • Welcome to Unit 3 Marketing
    • What is Marketing?
      • It is all about identifying, anticipating and satisfying customer needs.
    • We Already Know That…..
      • Objectives set the targets for all organisations. A strategy is a plan devised to achieve these objectives.
      • But where do marketing objectives come from?
    • Strategic Marketing Objectives
      • The strategic objectives that relate specifically to marketing include:
      • increasing sales
      • increasing market share
      • increasing product awareness
      • gaining a unique selling point
    • Tactical Marketing Objectives
      • These are outlined through the marketing mix. The Marketing Mix looks at all aspects of marketing including; Product (features), Price, Place (where it is sold) and Promotion (advertising).
      • Mission statement
      • (e.g. to become the biggest
      • seller in the market)
      Strategic objectives (e.g. to increase sales by 10% in 12 months) Department or function objectives (e.g. to launch the new product successfully in the next 6 months) Tactical objectives (e.g. to set targets for sales staff) Day-to-day aims (e.g. to manage customer accounts and deal with problems)
    • Product Objectives
      • to improve product packaging
      • to launch new products
      • to update and improve products
      • to improve after-sales service
      • to extend the life of the products
    • Price Objectives
      • to remain competitive
      • to reduce prices while maintaining returns
      • to develop new pricing strategies (e.g. psychological pricing)
    • Promotion Objectives
      • to maintain brand awareness
      • to increase brand loyalty
      • to develop memorable advertising
      • to widen the range of promotion options
    • Place Objectives
      • to increase product availability
      • to improve product delivery times
    • Marketing Strategy
      • Needs to be devised to achieve the objectives described previously.
      • Again, this can be described in terms of the marketing mix
    • Marketing Strategy PRICING STRATEGY PROMOTIONAL STRATEGY PRODUCT STRATEGY DISTRIBUTION STRATEGY
    • Product Strategy
      • Firms should carry out ongoing market research to ensure that they stay in touch with the wishes of their customers.
      • Marketing departments must work closely with production and research and development (R&D) to ensure that new products in demand can be produced effectively.
    • Pricing Strategy
      • Every decision to change a price should be taken as part of an overall strategic plan. Pricing strategies are many and varied. Any desire to remain competitive is likely
      • to be reflected in a price-based strategy.
    • Promotional Strategy
      • Raising the profile of the product through a range of promotional activities. A campaign for a product is often run at the same time as some other promotion activity, such as a competition or free gift idea.
    • Place and Distribution Strategy
      • This strategy identifies a choice of suitable environment for the sale of the goods. From the internet, vending machines and retail outlets.
      • Cadbury Snaps