Marketing involves identifying customer needs, developing products to meet those needs, and promoting products using the 4Ps of marketing - product, price, place, and promotion. The marketing process aims to satisfy customer needs better than competitors. Key activities include understanding differences between goods and services, using brands and packaging to promote products, setting prices using strategies like product-line pricing, distributing products through appropriate channels, and promoting products through advertising, sales, and events.

1. Marketing
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2. Lesson Objectives
State the steps in the marketing process
list the different marketing activities and explain the purpose of each activity
understand the differences between goods and services
explain the importance and use of brands
explain the importance and use of packaging
explain how pricing is used to market a product or service
explain how to promote and advertise a product or service
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3. What is Marketing exactly?
A process that involves
identifying the needs and wants of chosen
customers
satisfying these customers’ needs and wants in ways
that are better than the competitors
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4. 4-step model of marketing
Understand Satisfy
Identify
customers’ Applying customers
potential
needs and the 4Ps better than
customers
wants competitors
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5. the Marketing Mix
A marketing plan is a combination of the tools of
marketing called the marketing mix or the 4Ps
Product
Price Product Price
Place
Promotion
Place Promotion
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6. Product (Goods/Services or both)
In marketing, a product may include the following
Good quality
Right features, functions and design
Familiar name/ brand
Attractive packaging
Excellent customer service
Support services such as warranty / on-site repair
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7. Differences between Goods & Services
Goods Services
Physical things that can be felt Intangible, can only be
and seen experienced
Provided and experienced at the
Usually produced in a factory
same time
Good produced can be Can be customized.
standardized Quality & consistency may differ
Uncountable,
Countable
count experience as one
experience
Own goods after purchase Cannot own services experienced
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8. Branding
Use of a name, term, symbol or design or a
combination of the four to identify a product
A brand is a promise by the business to deliver all the
benefits and values that are linked to the brand
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9. Brand loyalty
If brand meets customers’ needs all the time
Customers will be willing to pay higher price for their
preferred brand and remain loyal to it
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10. Importance of branding
Makes marketing of product more efficient
Helps customers to clearly recognise a product/ service from their competitors
help to build customer loyalty
improve image of business
easier to introduce new products. Customers are more willing to accept new
products under the same brand name
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11. What is packaging?
The container/ wrapper of a product
Usually include a label, printed description of the
product and instructions of use
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12. Functions of Packaging
Protects and contains the products/ or include accessories
Prevents shoplifting
Saves space and easier to handle
Promotes image of brand
Prevents spoilage
Easier or safer to use
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13. Support Services
Services and benefits offered to customers in addition to the product
customer rewards programme
customer service
fast and reliable delivery
financing and hire purchase
warranty
friendly after-sales service
product and technical information
on-site repair services
free installation
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14. Pricing
Refers to the setting of a price for a product
Affects revenue of a business
Different names for price How much is it?
Rent Ikura Desu Ka?
Interest
Berapa harganya ini?
这个多少钱?
Room rates
இது எவ்வளவு
Fees
Airfares
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15. How to price (3Cs)
Costs
Competitors’ prices
Customer’s willingness to pay
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16. Pricing Techniques
Product-line pricing
Optional product pricing
Product-bundle pricing
Promotional pricing
Odd-even pricing
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17. Product line pricing
Setting of different prices for different versions of the same
product
Example
Airtickets - Priced according to economy, business and first
class
Ipod - Priced according to disk capacity of gadget
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18. Optional-product pricing
Involves setting prices of optional or accessory
products along with the main product
Example
Choice of adding toppings to ice cream/ pizza
Choice of paying extra for guided tours/ additional
meals or hotel upgrades in tour packages
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19. Product-bundle pricing
Involves pricing of a few items of related products into
a bundle and offered at a reduced price
Example:
Set meals at restaurant
Sale of desktops/ laptops
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20. Promotional pricing
Temporarily pricing below usual listed prices in order to
increase short-term sales
Can be in the form of a percentage off, cash discount
or a quantity discount
Example:
Special discounts during CNY, Christmas.
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21. Odd-even pricing
Involves setting of prices below an even amount
Believed that customers respond better to such prices
Example:
A product sold at $19.95 or $19.99 instead of $20
A product sold at $99.99 instead of $100
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22. Place
Refers to how the right product gets to the target customers
Possible location of outlets
Neighbourhood town centre
Shopping centre in neighbourhood/ city
Types of outlets
Retail shop outlet
Pushcart
Vending machine
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23. Location
Factors to consider
Who are our target customers
Who are our competitors in the area
Volume of human traffic area has
Whether site is centrally located to reach target customers
Whether location is easily accessible by public transport
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24. Promotion
Refers to telling the target customers the right product
is available at the right place at the right time and the
right price
Purpose is to influence buying attitudes and behavior
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25. Promotion Techniques
Refers to methods/ tools to inform customers about
the 3Ps
Each technique has its advantages and disadvantages
Possible to use more than one technique at one time
(combination of two or more)
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26. Different types of promotion
techniques
Advertising Public Relations (PR)
Sales promotion news
Personal Selling websites
Direct marketing special events
corporate identity materials
sponsorships
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27. Lesson Summary
State the steps in the marketing process
list the different marketing activities and explain the purpose of each activity
understand the differences between goods and services
explain the importance and use of brands
explain the importance and use of packaging
explain how pricing is used to market a product or service
explain how to promote and advertise a product or service
Tuesday, July 3, 12