Marketing Essentials 1

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Marketing Essentials 1

  1. 1. Marketing Essentials
  2. 2. Running order… <ul><li>What is Successful marketing? </li></ul><ul><li>Why’s marketing ? </li></ul><ul><li>Selling & Marketing </li></ul><ul><li>Marketing philosophies </li></ul><ul><li>The Marketing Mix - 4 P’s </li></ul><ul><li>SBU Analysis </li></ul><ul><li>Marketing Plan </li></ul>
  3. 3. Definition of Marketing <ul><li>“ Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.” </li></ul><ul><li>American Marketing Association </li></ul>
  4. 4. Successful marketing requires: P rofitable O ffensive (rather than defensive) I ntegrated S trategic (is future orientated) E ffective (gets results) Hugh Davidson 1972 POISE
  5. 5. Why Marketing?
  6. 6. <ul><li>1. Maintain your Existing Customer Loyalty and buy more of your products </li></ul><ul><li>2. Attract New customers by promising superior value </li></ul>Why Marketing?
  7. 12. Running order… <ul><li>What is Successful marketing? </li></ul><ul><li>Why’s marketing ? </li></ul><ul><li>Selling & Marketing </li></ul><ul><li>Marketing philosophies </li></ul><ul><li>The Marketing Mix - 4 P’s </li></ul><ul><li>SBU Analysis </li></ul><ul><li>Marketing Plan </li></ul>
  8. 13. *Marketing Philosophies <ul><li>Production Concept </li></ul><ul><li>Product Concept </li></ul><ul><li>Selling Concept </li></ul><ul><li>Marketing Concept </li></ul><ul><li>Societal or Social Marketing Concept </li></ul>
  9. 14. 1. Production Concept <ul><li>Mass production </li></ul><ul><li>Lower prices </li></ul><ul><li>Example: Ford’s Model T </li></ul>
  10. 15. Production Concept <ul><li>Assumption : </li></ul><ul><li>consumers will buy it if it’s cheap </li></ul><ul><li>Makes sense when little differentiation is demanded </li></ul><ul><li>Makes sense for price sensitive segments </li></ul>
  11. 16. 2.Product Concept <ul><li>Customers want bells and whistles and will pay </li></ul><ul><li>May result in unwanted products – </li></ul><ul><li>e.g. Egyptian Textile </li></ul><ul><li>May make sense for some segments </li></ul><ul><li>Some segments and markets are novelty-driven </li></ul>
  12. 17. 3.Selling Concept <ul><li>Company relies on sales talent </li></ul><ul><li>Makes more sense when new product’s benefits are hard to understood </li></ul><ul><li>More likely when salespeople feel they have one opportunity </li></ul>
  13. 18. 5.Societal (Social) Marketing Concept <ul><li>Deliver consumers desired satisfactions effectively and efficiently AND serve societal well-being </li></ul>
  14. 19. Societal (social) Marketing Concept <ul><li>Four considerations </li></ul><ul><li>consumer needs and wants </li></ul><ul><li>consumer best interests </li></ul><ul><li>profit </li></ul><ul><li>society’s best interest </li></ul>
  15. 20. Societal (social) Marketing Concept <ul><li>Any problems with this? </li></ul><ul><li>Are businesses qualified to determine what is good for society? </li></ul><ul><li>Doing social good works can make it more difficult to be profitable </li></ul>
  16. 21. Running order… <ul><li>What is Successful marketing? </li></ul><ul><li>Why’s marketing ? </li></ul><ul><li>Selling & Marketing </li></ul><ul><li>Marketing philosophies </li></ul><ul><li>The Marketing Mix - 4 P’s </li></ul><ul><li>SBU Analysis </li></ul><ul><li>Marketing Plan </li></ul>
  17. 22. Marketing Mix
  18. 24. The Four P ’s of Marketing <ul><ul><ul><li>P roduct </li></ul></ul></ul><ul><ul><ul><li>P lace </li></ul></ul></ul><ul><ul><ul><li>P rice </li></ul></ul></ul><ul><ul><ul><li>P romotion </li></ul></ul></ul>
  19. 25. Product Types <ul><li>Goods </li></ul><ul><li>Services </li></ul><ul><li>Ideas </li></ul><ul><li>Experiences </li></ul><ul><li>Organizations </li></ul><ul><li>Activities </li></ul><ul><li>Persons </li></ul><ul><li>Places </li></ul>
  20. 26. Sales Volume STAGES Introduction Growth Maturity Decline Should the product be introduced Should the product strategy be changed Should the product be deleted The Product Life Cycle and Related Decisions
  21. 27. Place <ul><ul><ul><li>Your home </li></ul></ul></ul><ul><ul><ul><li>Your place of work </li></ul></ul></ul><ul><ul><ul><li>Phone </li></ul></ul></ul><ul><ul><ul><li>Internet </li></ul></ul></ul><ul><ul><ul><li>Any other Distribution Channel </li></ul></ul></ul>
  22. 28. Price
  23. 29. Pricing Strategy <ul><li>Several factors to consider including: </li></ul><ul><ul><li>Cost </li></ul></ul><ul><ul><li>Customer Perception </li></ul></ul><ul><ul><li>Market Forces </li></ul></ul><ul><ul><li>Competitor Products </li></ul></ul><ul><ul><li>Positioning </li></ul></ul>
  24. 31. Other pricing strategies <ul><li>Psychological </li></ul><ul><li>Product line </li></ul><ul><li>Varieties ( seasonal ) </li></ul><ul><li>Optional </li></ul><ul><li>Captive </li></ul><ul><li>Promotional </li></ul>
  25. 32. Promotion
  26. 33. Communication Channels <ul><li>Newspapers Personal Selling </li></ul><ul><li>Direct Mail Flyers </li></ul><ul><li>Radio Individual Referral </li></ul><ul><li>Television E-mail </li></ul><ul><li>Telephone Internet </li></ul><ul><li>Posters </li></ul>
  27. 34. Setting the Promotion Mix Advertising Personal Selling Sales Promotion Public Relations Direct Marketing Reach Many Buyers, Repeat Message Many Times, Impersonal, Expensive Personal Interaction, Relationship Building, Most Expensive Promo Tool Wide Assortment of Tools, Rewards Quick Response, Efforts Short-Lived Very Believable, Dramatize a Company or Product, Underutilized Nonpublic, Immediate, Customized, Interactive
  28. 35. Factors in Setting Promotion Mix Strategy that Calls for Spending A Lot on Advertising and Consumer Promotion to Build Up ( Pull ) Consumer Demand. Pull Strategy Strategy that Calls for Using the Salesforce and Trade Promotion to Push the Product Through the Channels. Push Strategy Strategy Selected Depends on: Type of Product-Market & Product Life-Cycle Stage
  29. 36. Running order… <ul><li>What is Successful marketing? </li></ul><ul><li>Why’s marketing ? </li></ul><ul><li>Selling & Marketing </li></ul><ul><li>Marketing philosophies </li></ul><ul><li>The Marketing Mix - 4 P’s </li></ul><ul><li>SBU Analysis </li></ul><ul><li>Marketing Plan </li></ul>
  30. 37. SBU Analysis
  31. 38. Analyzing Current Strategic Business Unit ( SBU) <ul><li>BCG Growth-Share Matrix </li></ul><ul><li>Ansoff’s Product/Market Expansion Grid </li></ul>
  32. 39. BCG
  33. 40. Problems with BCG
  34. 42. Customer Identification <ul><li>Who they are </li></ul><ul><ul><li>Socio-Demographic </li></ul></ul><ul><li>Where they are </li></ul><ul><ul><li>Geographic </li></ul></ul><ul><li>What they buy </li></ul><ul><li>When they buy </li></ul><ul><li>Why they buy </li></ul><ul><ul><li>Criteria for buying </li></ul></ul><ul><ul><li>Need vs want </li></ul></ul><ul><li>How often they buy </li></ul><ul><li>How many they buy </li></ul>
  35. 43. Segmentation <ul><li>Customer Characteristics </li></ul><ul><ul><li>Geographic </li></ul></ul><ul><ul><li>Sex </li></ul></ul><ul><ul><li>Age </li></ul></ul><ul><ul><li>Lifestyle </li></ul></ul><ul><ul><li>Occupation </li></ul></ul><ul><li>Product related </li></ul><ul><ul><li>Frequency of usage </li></ul></ul><ul><ul><li>Benefits required </li></ul></ul><ul><ul><li>Price sensitivity </li></ul></ul><ul><ul><li>Brand Loyalty </li></ul></ul>
  36. 44. Targeting <ul><li>Differentiated Targeting </li></ul><ul><li>Focus ( concentrated ) Targeting </li></ul><ul><li>Undifferentiated Targeting </li></ul>
  37. 45. Positioning <ul><li>Should always be conducted from the customer’s perspective </li></ul><ul><li>Uses 2 qualities which are important to your customers </li></ul><ul><li>Identifies where your product/service offering stands in comparison to your competitors </li></ul>
  38. 46. Positioning <ul><li>Competitive Advantage </li></ul><ul><li>USP ( Unique Selling Proposition ) </li></ul><ul><li>Positioning Statement </li></ul><ul><li>one tag line tell your customer by your usp </li></ul>
  39. 47. Pharmaceutical positioning <ul><li>The type of condition for which the product will be prescribed. </li></ul><ul><li>The type of patients for whom the product will be considered suitable </li></ul><ul><li>The products with which it will compete most closely </li></ul>
  40. 48. Running order… <ul><li>What is Successful marketing? </li></ul><ul><li>Why’s marketing ? </li></ul><ul><li>Selling & Marketing </li></ul><ul><li>Marketing philosophies </li></ul><ul><li>The Marketing Mix - 4 P’s </li></ul><ul><li>SBU Analysis </li></ul><ul><li>Marketing Plan </li></ul>
  41. 49. Marketing Plan
  42. 50. The contents and structure of the marketing plan <ul><li>The executive summary </li></ul><ul><li>table of contents </li></ul><ul><li>situational analysis and target market </li></ul><ul><li>marketing objectives </li></ul><ul><li>marketing strategies </li></ul><ul><li>marketing tactics </li></ul><ul><li>schedules and budgets </li></ul><ul><li>financial data and control </li></ul>
  43. 51. Standard Planning Framework Analysis - where are we now? Objectives - where do we want to be? Strategies - which way is best? Tactics - how do we ensure arrival? Control - are we on the right track?
  44. 52. <ul><li>Political </li></ul><ul><li>Economic </li></ul><ul><li>Socio-cultural </li></ul><ul><li>Technological </li></ul>PEST Analysis Situation Analysis
  45. 53. SWOT Analysis
  46. 54. Marketing Objective <ul><li>Examples </li></ul><ul><li>To increase the product range </li></ul><ul><li>To enter a new amrket segment </li></ul><ul><li>To increase sales/revenue </li></ul><ul><li>To increase brand loyalty </li></ul>
  47. 55. Marketing Strategies & Tactics : One year plan Narrow focus Concerned with detailed schedules and costs, actions needed for one year plan Ex: Choice for advertising media 3+years plan Broad Focus Concerned with position in market, objectives, resources Ex: Brand Position Strategy Tactics
  48. 56. Schedule and Budget
  49. 57. Thank you  Khaled Elsaid Elashry APEX PHARMA Co. +20102540866 [email_address]

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