DefinitionsMarketing is the human activity directed at satisfyinghuman needs and wants through an exchangeprocess Phillp Kotler 1980Marketing is a social and managerial process bywhich individuals and groups obtain what they wantand need through creating, offering and exchangingproducts of value with others Phillp Kotler 1991
Marketing is the management process that identifies, anticipatesand satisfies customer requirements profitably. The Chartered Institute of Marketing (CIM).Marketing is the process used to determine what products orservices may be of interest to customers, and the strategy to usein sales, communications and business development. Itgenerates the strategy that underlies sales techniques, businesscommunication, and business developments. It is an integratedprocess through which companies build strong customerrelationships and create value for their customers and forthemselves. Wikipedia
Peter DruckerThe goal of marketing is to generate and maintain consumers byproviding goods and/or services that satisfy their needs and wants. So, ifthe primary responsibility of a company is to serve its customers, marketingis the avenue by which that can be accomplished.
Peter Drucker• Drucker explained, "The aim of marketing is to make selling superfluous. It is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy."• Druckers message was simple: ―if marketers do their jobs correctly, meaning that they focus on their consumer and incessantly innovate, then all other aspects of the business should fall conveniently into place.‖• Drucker elaborated, "Because the purpose of business is to create a customer, the business enterprise has two—and only two—basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business."
The marketing mixdeals with the way in which a business uses price,product, distribution and promotion to market and sellits product.It is known as a “mix” because each ingredientaffects the other and the mix must overall be suitableto the target customer. These can be adjusted indiferent ways for different products for differentcustomers.
Four P’sThe marketing mix is often referred to as the “Four P’s‖•Product - the product (or service) that the we are goingto sell•Price - how much the customer pays for the product•Place – how the product is distributed to the customer•Promotion - how the customer is found and persuadedto buy the product
Extended Marketing Mix
Extended (7Ps)People: All people that are directly or indirectly involved in theconsumption of a service are an important part of the ExtendedMarketing Mix. Knowledge workers, employees, managementand consumers often add significant value to the total productor service offering.Process: Procedure, mechanisms and flow of activities by whichservices are consumed (customer management processes) arean essential element of the marketing strategy.Physical Evidence: The ability and environment in which theservice is delivered. Both tangible goods that help tocommunicate and perform the service, and the intangibleexperience of existing customers and the ability of the business torelay that customer satisfaction to potential customers.
What makes for an effective marketing mix?An effective marketing mix is one which:•Meets customer needs•Achieves marketing objectives•Is balanced and consistent•Creates a competitive advantage for thebusinessThe marketing mix for each business andindustry will vary; it will also vary over time.
Keys to successful Marketing http://www.youtube.com/watch?v=c2cDQw-Cmd4 http://www.youtube.com/watch?v=ROBZGM2LhRc
Building Blocks to Successful Marketing1. Defining your product or service2. Identifying your target market3. Knowing your competition4. Finding a niche5. Developing awareness6. Building credibility7. Being Consistent8. Maintaining Focus
References• 7Ps of Marketinghttp://www.cim.co.uk/filestore/resources/10minguides /7ps.pdf• Phone ettiquettehttp://www.youtube.com/watch?v=Sizse4t4Su4&feat ure=related
Language Review: Asking Questions Reference page 124•When the answer to the question is yes or no we use Auxilaryverbs (Are/ May/ Will/ Do / Did/ Can /Are /Is /Have) before thesubject.•For open questions we use questions words (6 W’s and how) Who What Where When Why Which How