Marketing : In a Nutshell


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A brief presentaion on The Art of Marketing in a nutshell. I t includes Market Research,Analysis,Sratergies,Competitive Analysis and SWOT Analysis.

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Marketing : In a Nutshell

  1. 1. Made By: Jaskaran Singh Kohli
  2. 2. Introduction • Marketing is the process of communicating the finished product or service to customers. • It is the common link between the final product and the customer. • It is also interpreted as the art of selling products by attracting customers. • It is one of the founding pillars of any business enterprise. Product → Solution Promotion → Information Price → Value Place (Distribution) → Access
  3. 3. Marketing
  4. 4. Market Research • Marketing research involves conducting and collecting research activities and statistics information. • Marketing research provides the management with relevant, accurate, reliable, valid, and current information about customer's taste, needs and the latest fashion and trends. • It includes both qualitative and
  5. 5. Market Analysis & Assessment Make sure you include: • who will buy your product or service. • where your market is located: local, regional, state, national or international. • the state of the market: is it growing, declining, segmented. • market influences such as seasonal price fluctuations or trends. • the price range: based on your target market will it be high, low or in the middle.
  6. 6. Analyzing
  7. 7. Marketing Planning • Marketing Planning involves forming a plan to undertake various Marketing Activities. • A Market Plan should include the following: 1. Financial data—Facts for this section will come from management accounting, costing and finance sections. 2. Product data—From production, research and development. 3. Sales and distribution data — Sales, packaging, distribution sections. 4. Advertising- sales promotion, merchandising data.
  8. 8. Marketing Strategies • Understanding Customer Develop a clear picture the target customer using market research and analysis. Understand the needs and wants of the customer. • Analyze the Market Some basic market research allows find market data such as total available market, market growth), market trends, etc. • Analyze the Competition Research and assess the strengths and weaknesses to formulate a competitive marketing strategy. • Medium of Advertising Choosing the most suitable and affordable means of advertising and marketing the product. • Analyze the Financials Keeping in mind the budget and financial capacity of the business. • Review and Revise Continuously evaluate the effectiveness of your marketing strategy, and revise or extend as needed.
  9. 9. Marketing Strategies
  10. 10. Advertising • Advertising is a form of communication of marketing and promoting products among the customers. • Advertising messages are usually paid for by sponsors and viewed via various traditional media; including mass media such as newspaper, magazines, television commercial, radio advertisement, outdoor advertising, blogs, websites or text messages. • Advertising is very costly but is still done with the hope of increase in sales and revenue.
  11. 11. Types of Advertising Television Advertising Radio Advertising Online Advertising Press Advertising In-Store Advertising Street Advertising Social Advertising
  12. 12. Competitor Analysis Things to keep in mind: • who and where they are • how you'll position your product or service against them • your product/service features against theirs and what gives you a competitive edge • the benefit/s of your service/product to the consumer • comparison of your pricing, promotion and distribution
  13. 13. Competitor Analysis - SAMPLE Competitor Date Established Size Market share (%) Value to customers Strengths Weaknesses Their name When they started Staff #s or turn- over Estimated percentag e of market share Their unique value to customers, e.g. convenience, price, quality, service Their main strengths Their main weaknesses
  14. 14. SWOT Analysis • A strategic SWOT (strengths, weaknesses, opportunities and threats) analysis will help you turn your knowledge into strategy which you can then turn into actions. • It provides direction to the business and its marketing strategies. • Lists ways you can capitalise on your strengths and take advantages of opportunities.
  15. 15. SWOT Analysis- SAMPLEStrengths Weaknesses Advantages the business can exploit, e.g. good customer service innovative edge unique products Areas of the business that need to be acted on, e.g. poor website not enough staff training Opportunities Strategies using strengths to address opportunities Strategies to reverse weaknesses to address opportunities Marketplace areas that can be built on, e.g. gaps in the market competitor closure Ways to take advantage of business strengths, e.g. promoting good customer service to attract competitor’s customers Ways to ensure weaknesses don’t hamper opportunities, e.g. hiring an experienced trainer to upskill staff provide better customer service, something no one is offering well at the moment Threats Strategies to counter threats with strengths Strategies to fix vulnerabilities External issues that could affect the success of the business, e.g. decrease in consumer demand sudden increase in costs Ways to use business strengths so threats are not a problem, e.g. launching new product to revitalise consumer demand Ways to address areas where the business may be vulnerable, e.g. utilising new technologies or social media to reach potential customers adapting green practices to minimise costs
  16. 16. Jaskaran Singh Photography