bornface business and accounting marking and sales management
1.
2. marketing
the set of activities that directs
the flow of goods and services
from the producer to satisfy
consumers and accomplish the
objectives of the organization
3. is the process by which individuals & groups obtain
what they need and what by creating and exchanging
products & value with others.
4. Marketing activities
Identifying specific markets for products and services,
Identifying existing and future needs and wants of
these markets,
Guiding the development of products, packages, and
services to fill these needs at a profit.
Selling, delivering and effecting legal transfer (or
rights to the use) of these goods and services to the
ultimate consumer or user.
5. Needs, Wants, Products
Human needs are states of felt deprivation.
Needs are many and complex
Not invented by man
Wants are the form taken by human needs as they are
shaped by culture and individual personality
A product is anything that can be offered to a market
to satisfy a need or want
6. MARKETING MANAGEMENT PHILOSOPHIES
Philosophies are the guides to marketing efforts
undertaken by companies
There are five alternative concepts under which
organisations conduct their marketing activities
The Production Concept
The Product Concept
The Selling Concept
The Marketing Concept
The Societal Marketing Concept
7. Marketing Strategy
Strategy refers to a means to an end. It is the way or
approach that should be adopted to achieve a
particular goal (Objective).
marketing strategy refers to the approaches or ways
marketing activities should be conducted to achieve
marketing objectives.
Eg, a marketing objective is; increase market share from
say 10% to 15%.
A strategy or an approach has to be instituted so as
achieve this objective.
An example of an approach used in the achievement of
marketing objective is the Marketing Mix.
8. Marketing Mix.
the set of controllable tactical marketing tools that the
firm blends to produce the response it wants in the
target market.
Four Ps Four Cs
Product Customer needs and wants
Price Cost to the Customer
Place Convenience
Promotion Communication
9. Product
means the “goods and services” combination that the
company offers to the target market
Product
Variety
Quality
Design
Features
Brand name
Packaging
Sizes
Services
Warranties and Returns
10. Price
This is the amount of money customers have to pay to
obtain the product
Consideration
The costs of production (and development)
The ability to generate sufficient revenue and/or profit
The desired market share for the product
The prices being offered by the competitors
The quality of the product
How much is the buyer willing to pay
12. Promotion
This refers to the activities that communicate the
benefits of the product and also to the persuasion of
the target customers to buy it.
Promotion
• Advertising
• Personal Selling
• Sales Promotion
• Public-Relations
13. Aim
To increase familiarity with a product (or variations of
it, e.g. brand, product range e.t.c)
Inform customers about specific features of a product
Inform customers about key benefits of a product
Indicate distinctive features and/or benefits of a
product (implicitly or explicitly by comparison with
competing product).
Encourage potential customers to buy the product
Maintain loyalty of existing customers
Establish the credibility of a product
14. Place
it includes company activities that make the product
available to its target consumers
Place
Channels
Coverage
Assortments
Locations
Inventory
Transportation
Logistics
