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Marketing for non marketers, Experience inbound initative

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Marketing for non marketers, Experience inbound initative

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Marketing for non marketers, Experience inbound initative

  1. 1. Marketing for Non-Marketers Experience Inbound 15th November, 2014 Nihal Hassan, MBA
  2. 2. Outlines • Marketing Definition • Strategic Marketing Planning • Situation Analysis • External environmental forces “PESTL” • Internal Forces “SWOT” • Positioning & Differential Advantage • Target Market • Marketing Mix • Product • Price • Place • Promotion • Services’ Marketing Mix • BCG Matrix • ANSOFF Matrix
  3. 3. What is Marketing YES No Marketing is Planning Marketing is Pricing Marketing is Promoting Marketing is Distributing
  4. 4. What is Marketing (Cont’d) Marketing is a total system of business activities designed to plan, price, promote and distribute WANT-SATISFYING products/services/ideas to target market to achieve organizational objectives Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. “Kotler”
  5. 5. Strategic Marketing Planning • Conducting SituationAnalysis • Developing marketing objectives • Segmenting the market • Profile the market segments • Positioning • Marketing Mix
  6. 6. Situation Analysis • Situation Analysis covers External environmental forces “PESTL” as well as Internal Forces “SWOT”. • Situation Analysis is a critical task as it includes numerous subjective as well as objective judgments. • SWOT Analysis is the most Famous assessment Framework.
  7. 7. External environmental forces “PESTL” • Economic • GDP trends • Interest rates • Money supply • Inflation rates • Unemployment levels • Wage/price controls • Devaluation/revaluation • Energy availability and cost • Disposable and discretionary income • Technological • Total government spending for R&D • Total industry spending for R&D • Focus of technological efforts • Patent protection • New products • New developments in technology transfer from lab to marketplace • Productivity improvements through automation • Political-Legal • Antitrust regulations • Environmental protection laws • Tax laws • Special incentives • Foreign trade regulations • Attitudes toward foreign companies • Laws on hiring and promotion • Stability of government • Socio-cultural • Lifestyle changes • Career expectations • Consumer activism • Rate of family formation • Growth rate of population • Age distribution of population • Regional shifts in population • Life expectancies • Birth rates
  8. 8. Internal Forces “SWOT” Strengths Your specialist marketing expertise A new, innovative product or service Weakness Lack of marketing expertise Poor quality goods or services Opportunities A developing market such as the Internet A market vacated by an ineffective competitor Threats A new competitor in your home market Taxation is introduced on your product or service
  9. 9. Marketing Objectives The objective is the starting point of the marketing plan. Objectives should seek to answer the question 'Where do we want to go?'. The purposes of objectives include: • To enable a company to control its marketing plan. • To help to motivate individuals and teams to reach a common goal. • To provide an agreed, consistent focus for all functions of an organization.
  10. 10. Positioning & Differential Advantage • Positioning is all about “perception” • Positioning: Refers to a product’s image in relation to directly competitive products as well as other products marketed by the same company. • Differential Value: Refers to any feature of an organization or brand perceived by customer to be desirable and different from those of the competition.
  11. 11. DefiningTarget Market Target Market: Refers to a group of people or organizations at which a firm directs a marketing program through knowing: ◦ Demographics ◦ Geographic ◦ Socioeconomic ◦ Psychographics
  12. 12. Defining Target Market – Cont’d
  13. 13. Marketing Mix The marketing mix is probably the most famous marketing term. Also known as the Four P's, the marketing mix elements are: Marketing Mix Product Price Place Promotion
  14. 14. Marketing Mix – Cont’d Marketer Perception Four Ps  Product  Price  Place  Promotion Customer Perception Four Cs  Customer solution  Customer cost  Convenience  Communication
  15. 15. Marketing Mix – Cont’d
  16. 16. Marketing Mix - Product
  17. 17. Marketing Mix – Product – Cont’d 1) Introduction. The product is promoted to create awareness.  The product has no or few competitors, & a skimming price strategy is employed. Limited numbers of product are available in few channels of distribution. 2) Growth. Competitors are attracted into the market with very similar offerings. Products become more profitable. Advertising spend is high and focuses upon building brand. Market share tends to be stabilized.
  18. 18. Marketing Mix – Product – Cont’d 3) Maturity • Producers attempt to differentiate products and brands are key to this. • Price wars and intense competition occur. • Producers begin to leave the market due to poor margins. • Promotion becomes more widespread and use a greater variety of media. 4) Decline • Declining happens either because more innovative products are introduced or consumer tastes have changed. • There is intense price-cutting and many more products are withdrawn from the market
  19. 19. Marketing Mix - Price Promotional Pricing Promotional pricing including approaches such as BOGOF (Buy One Get One Free). Value Pricing Is used where external factors such as recession exists Economy Pricing The cost of marketing and manufacture are kept at a minimum Penetration Pricing Price is set artificially low in order to gain market share. Once this is achieved, the price is increased Premium Pricing High price where there is a uniqueness about the product Used for luxuries Products/Services
  20. 20. Marketing Mix - Place “A channel of distribution comprises a set of institutions which perform all of the activities utilized to move a product and its title from production to consumption” Bucklin -Theory of Distribution Channel Structure (1966) • Sold through every available outlets.Intensive • Sold through multiple but not all possible outletsSelective • Sold through one single outletExclusive • Sold only through the company’s outletsDirect • Sold through direct and/or indirect channelsIndirect
  21. 21. Marketing Mix - Promotion What does Promotion mean? Advertising Sales Promotion NO NO
  22. 22. Marketing Mix - Promotion (Cont’d) • The elements of the promotions mix are: Personal Selling Sales Promotion Public Relations Direct Marketing Internet and Interactive Marketing Advertising
  23. 23. Personal Selling • Personal Selling is an effective way to manage personal customer relationships. • sales people are very expensive and should only be used where there is a genuine return on investment. • The sales person acts on behalf of the organization
  24. 24. Sales Promotion • Sales promotion tend to be thought of as being all promotions apart from advertising. • BOGOF promotion, or Buy One Get One Free. Others include couponing, money-off promotions, free accessories. • Sales promotion is generally broken into two major categories: • Consumer-oriented activities. • Trade-oriented activities.
  25. 25. Public Relations (PR) • Public Relations is defined as 'the deliberate, planned and sustained effort to establish and maintain mutual understanding between an organization and its publics' • Public relations uses publicity and a variety of other tools- including: • Special publications • Participation in community activities • Fund-raising • Sponsorship of special events • Various public affairs activities-to enhance an organization's image.
  26. 26. Direct Marketing • In Direct marketing organizations communicate directly with target customers to generate a response and/or a transaction. • Direct marketing is much more than direct mail and mail- order catalogs.
  27. 27. Advertising Advertising is a 'paid for' communication. It is used to develop attitudes, create awareness, and transmit information in order to gain a response from the target market. There are many advertising 'media' such as newspapers (local, national, free, trade), magazines and journals, television (local, national, terrestrial, satellite) cinema, outdoor advertising (such as posters, bus sides).
  28. 28. Internet and Interactive Marketing • Interactive media allow for a back-and-forth flow of information whereby users can participate in and modify the form and content of the information they receive in real time. • The new media allow users to perform a variety of functions such as: • Receive and alter information and images. • Make inquiries. • Respond to questions. • Make purchases
  29. 29. Selecting Promotion Activities • Selection of promotional activities is based on five elements • Nature of Product or Services • Competition • Budget: Power to spend • Market Condition: Recession / Active market • Product Stage: status of product on the PLC
  30. 30. Services’ Marketing Mix  Product  Price  Place  Promotion • Additional elements for the services Marketing Mix Process Physical evidence people
  31. 31. BCG Matrix
  32. 32. ANSOFF Matrix
  33. 33. ThankYou

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