Marketing Management Training Course - Lesson 10 - Business Basics ...

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Lesson 10
Presentation Overview

Marketing & Sales
Business Basics Part III -

Marketing vs. Sales?
Marketing sells the idea
$ales brings in the money

What is a Market?

A “Market” is a group of
customers
Starts with the total population, then:
• Potential markets (have interest)
• Available...

“Market Segments”
are different parts of a market.
Six common segmentation
strategies are:

1. Geographic segmentation
Divides the broad market into
regional or local markets

2. Demographic segmentation
Classifies the broad market such as
age, gender, income, and race

3. Psychographic segmentation
Social class from upper to
lower, lifestyle, and personality

4. Behavioristic segmentation
Type of occasion or benefits
such as quality

5. Product segmentation
Divides the broad market by
products like health food or junk
food

6. Sales Channel segmentation
Divides the way a product is sold
(I.e. Coke in a store, restaurant, or vending machine)

What are the Five
Marketing Philosophies?

1. Production concept (available and affordable)
2. Product concept (quality, performance & features)
3. Selling concept (...

Market Research
Helps companies understand and analyze
their customers.

Market research mostly focuses on…

1. Demographic characteristics
Age, race, income, industry,
etc.

2. Buying behaviors
How often and where
(I.e. store, online, etc.)

3. Lifestyle or psychographics
Hobbies, sports, religion, dining,
etc.

4. Customer Satisfaction
Price, ease of use, useful
features, etc.

What is the Marketing Mix
or the 4-P’s of Marketing?

1. Product
What the company sells:
• Product
• Service
• Copyrights
• Images
• Patents

2. Price
Examples of strategies:
• Premium Pricing
• Penetration Pricing
• Economy Pricing
• Skim Pricing
• Competitive Pr...

3. Place
Distribution of the product:
• Directly to consumers
• Directly to retailers
• Directly to resellers
• To wholesa...

The “7-P’s”
would include:
5. People (Support)
6. Process (Procedures)
7. Physical Evidence (Packaging)

Positioning
The product compared to others:
• Features
• Benefits
• Class
• Special Occasions
• Holidays
• Or against a co...

Competitive
marketing:
• Market Leader (I.e. Microsoft)
• Market Challenger (I.e. Pepsi vs. Coke)
• Market Follower (Wait’...

The Marketing Plan:
1. Market Overview (Trends, Segments, Targets)
2. Competitive Review (Who are they?)
3. Product or Ser...

Sales Tactics:
“Prospecting” = Looking for potential customers.
“Cold Calling” = Telephoning an unknown target.
“Sales lea...

Sales Growth:
1. Increase the price – Easiest solution.
2. Sell other products to existing customers – “Would like like
fr...

Understanding the basics of
Marketing & Sales is possible, with
the exceptional management skills
you will possess…
End of...

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