A PowerPoint presentation of basic concepts in Marketing as a preparation for the more advanced dimensions of the discipline when students proceed to higher years.
2. Market
Refers to the consumers
and customers for the
goods and services
produced by an
enterprise.
Also refers to the place
or location where
exchange og goods and
services take place
3. Marketing
All the activities involved
in providing customer
satisfaction by facilitating
the exchange of goods and
services from where they
are produced to the
ultimate user.
Produce goods or provide
services according to the
preferences of buyers
making up your market.
4. Marketing Segmentation
The process of
classifying the
market
Consumers are
numerous and
have varied
buying motives
and habits
Useful in the
preparation of a
business/marketin
g plan
7. Promotion
Activities that tell or inform
potential buyers about the
product
It encompasses all forms of
communication that a firm
chooses to use
The objective of promotion
is to inform and influence
the attitude of prospective
buyers favorably towards
the
product
8. Promotional activities become necessary
when:
Competing products in
your target market are
alike
Buyer’s awareness of your
product and its features
are minimal
Products to be sold are
on self service or mail
order basis
9. 5 forms of Promotion:
Personal selling
Advertising
Sales promotion
Point of purchase/product
display
Publicity
10. Personal Selling
Involves face to face
selling through oral
conversation
May take the form of sales
calls by company
representative, sales clerk
or invitation to a dinner
E.g. Door to door selling by
Euroclean man
11. Advertising
Any paid form of
presentation and
promotion of ideas, goods
or services by an
identified sponsor
E.g.
- Tri media (print, radio
and television)
12.
13.
14. Sales Promotion
Continually creates and applies
reinforcing materials and
techniques to increase the
affectivity of salesmen, distributors
and dealers to sell the product
E.g.
Wrappers of the product as an
entry to a raffle, Free samples, Buy
one take one offers, Money refund
offers, Discounts, Demonstrations,
Taste tests
15. Point of Purchase/Product Display
Enabling buyers to see,
feel and smell products
E.g.
Attractive Displays
16. Publicity
Takes the form of news
releases, public appearances of
company officials and
participation in industry wide
publicity efforts
Also known as “free
advertising”
It is less readily be controlled
E.g.
publicity material sent to the
radio/newspaper may or may
not be used
20. Factors that affect pricing decisions:
Cost of making the product
Marketing and
administrative costs
Prices of competitors
Ability of target customers
to pay
Supply and demand
situation
Image of the company
21. PRICING PRODUCTS
Factors to consider
when setting prices:
1. Internal factors
(marketing
objectives,
marketing mix
strategy, costs and
organization)
22. TYPES OF COSTS
Fixed costs
- costs that do not
vary with production
or sales level
Variable costs
- costs that vary
directly with the level
of production
Total Costs
- the sum of the
fixed and variable
costs for any given
level of production
23. 2. External Factors (the
nature of market and
demand, competition
and other
environmental
elements)