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. The marketing mix, also known as the 4Ps, refers to product, price, place, and promotion - the key elements of a company's marketing strategy that are under their control. An effective marketing strategy balances these elements to meet the needs of the target market and achieve the company's objectives.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
A new way to look at marketing... Introductory session to Hospital Management Students of BK School of Business Management, Gujarat University taken on 22 September 2011.
for more details, visit:
www.profmanishparihar.blogspot.com
Human resources planning is a process that identifies current and future human resources needs for an organization to achieve its goals. Human resources planning should serve as a link between human resources management and the overall strategic plan of an organization.
Marketing definition and core concepts that how marketing affects the business and what are the channels of different Marketing. This presentation gives you he detailed information about 4 P's of Marketing Mix with Product development life cycle and Product Policy. It also shows strategies of Marketing with interactive examples. This will definitely help you to lead to keen interest in Marketing.
Marketing management, nature of marketing, importance of marketing, Evolution of marketing concept, Marketing environment, Micro environment of marketing, macro environment of marketing, Domestic marketing, international marketing, definition of marketing, definition of marketing management, marketing concepts, types of marketing, components of micro environment, components of macro environment, Calicut university MBA
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
SMM Cheap - No. 1 SMM panel in the worldsmmpanel567
Boost your social media marketing with our SMM Panel services offering SMM Cheap services! Get cost-effective services for your business and increase followers, likes, and engagement across all social media platforms. Get affordable services perfect for businesses and influencers looking to increase their social proof. See how cheap SMM strategies can help improve your social media presence and be a pro at the social media game.
Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
CWV Topics include:
- Understanding the latest Core Web Vitals including the significance of LCP, INP and CLS + their impact on SEO
- Optimisation techniques from our experts on how to improve your CWV on platforms like WordPress and WP Engine
- The impact of user experience and SEO
Digital marketing is the art and science of promoting products or services using digital channels to reach and engage with potential customers. It encompasses a wide range of online tactics and strategies aimed at increasing brand visibility, driving website traffic, generating leads, and ultimately, converting those leads into customers.
https://nidmindia.com/
Financial curveballs sent many American families reeling in 2023. Household budgets were squeezed by rising interest rates, surging prices on everyday goods, and a stagnating housing market. Consumers were feeling strapped. That sentiment, however, appears to be waning. The question is, to what extent?
To take the pulse of consumers’ feelings about their financial well-being ahead of a highly anticipated election, ThinkNow conducted a nationally representative quantitative survey. The survey highlights consumers’ hopes and anxieties as we move into 2024. Let's unpack the key findings to gain insights about where we stand.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
How to Run Landing Page Tests On and Off Paid Social PlatformsVWO
Join us for an exclusive webinar featuring Mariate, Alexandra and Nima where we will unveil a comprehensive blueprint for crafting a successful paid media strategy focused on landing page testing.With escalating costs in paid advertising, understanding how to maximize each visitor’s experience is crucial for retention and conversion.
This session will dive into the methodologies for executing and analyzing landing page tests within paid social channels, offering a blend of theoretical knowledge and practical insights.
The Pearmill team will guide you through the nuances of setting up and managing landing page experiments on paid social platforms. You will learn about the critical rules to follow, the structure of effective tests, optimal conversion duration and budget allocation.
The session will also cover data analysis techniques and criteria for graduating landing pages.
In the second part of the webinar, Pearmill will explore the use of A/B testing platforms. Discover common pitfalls to avoid in A/B testing and gain insights into analyzing A/B tests results effectively.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
2. Meaning
Market: it is a place where buyers and sellers sales and buys from
producers.
Marketing: it is a process or system of business activity designed to
plan promote and distribute the want satisfying goods and services to
target market.
Marketing Management: It can be defined as an art and science of
choosing target volume and getting keeping and growing customer to
create delivering and communicating superior customer value.
3. definitions
According to American Marketing Association (AMA), Marketing is the
activity, set of institutions and processes for creating, communicating, delivering
and exchanging offering that have value for customers, clients, partners and
society at large.
According to Dr. Philip Kotler defines marketing as the science and art of
exploring, creating and delivering value of satisfying the needs of target market at
a profit. Marketing identifies unfulfilled needs and desires. It defines, measure and
quantifies market and profit potential.
4. Marketing Management
What is marketing management?
« Marketing management 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 » (Philip Kotler)
Marketing management has the task of influencing the level,
timing, and composition of demand in a way that will help the
organization achieve its objectives.
5. Marketing
Marketing is the process of planning and executing the conception,
pricing, promotion, and distribution of ideas, goods, services to create
exchanges that satisfy individual and organizational goals
American Marketing Association
5
6. What Is Marketing?
Simple definition:
Marketing is the management process responsible for
identifying, anticipating, and satisfying customer
requirements profitably.
Goals:
1. Attract new customers by promising superior value.
2. Keep and grow current customers by delivering
satisfaction.
7. Marketing Defined
Marketing is the activity, set of instructions, and processes for
creating, communicating, delivering, and exchanging offerings that
have value for customers, clients, partners, and society at large.
OLD view of
marketing:
Making a sale—
“telling and selling”
NEW view of
marketing:
Satisfying
customer needs
8. MARKETING MANAGEMENT
Marketing management is the art and science of choosing target
markets and getting, keeping, and growing customers through
creating, delivering, and communicating superior customer value.
8
9. The Marketing Process
A simple model of the marketing process:
Understand the marketplace and customer needs and wants.
Design a customer-driven marketing strategy.
Construct an integrated marketing program that delivers superior value.
Build profitable relationships and create customer delight.
Capture value from customers to create profits and customer quality.
10. Needs, Wants, and Demands
Need: State of felt deprivation including physical, social,
and individual needs.
Physical needs: Food, clothing, shelter, safety
Social needs: Belonging, affection
Individual needs: Learning, knowledge, self-expression
Want: Form that a human need takes, as shaped by
culture and individual personality.
Wants + Buying Power = Demand
11. Need/ Want Fulfillment
Needs & wants are fulfilled through a Marketing
Offering:
Products:
Persons, places, organizations, information, ideas.
Services:
Activity or benefit offered for sale that is essentially
intangible and does not result in ownership.
Experiences:
Consumers live the offering.
12. 12
Difference Between - Sales & Marketing ?
Sales
trying to get the customer to want what the company produces
Marketing
trying to get the company produce what the customer wants
14. Nature, scope and importance
Marketing is consumer-oriented process.
Market starts and ends with customer
Marketing is the guiding element of business
Marketing is a system
Marketing is a goal-oriented process
Marketing is a process of exchange
Marketing is a continuous process.
15. Importance
Marketing plays an important role in the success of a business enterprise. It is
primarily concerned with movement of goods and services from the producer to
the customer in order to satisfy their needs.
It helps in realization of the objectives. An effective marketing is essential for the
survival and growth of the organization.
It helps the community to satisfy their economic and social needs and thus raise their
standard of living.
It helps in an effective and productive utilization of resources, both human and
materials, eliminating wastages.
It helps the enterprise to adapt the changing condition and circumstances and provides
the guidance for the innovative technology.
It helps the enterprise in achieving the maximum efficiency, productivity and
profitability with the minimum of effort and cost.
16. The role of marketing in economic development
Marketing and trade play vital roles in the economic growth and overall development of
a nation. The major roles of marketing and trade in the national economy can be thought
of in terms of:
Specializationin activities of comparative advantage
Enhanced resource use efficiency and trade.
Advances in marketing with economic growth.
17. Concepts of marketing
The production concepts
The product concepts
The selling concepts
The marketing concepts
The societal marketing concepts
18. Production Concept
The philosophy that consumers will favour products that are available
and highly affordable and that management should therefore focus on
improving production and distribution efficiency.
18
19. Product Concept
The philosophy that consumers will favour products that offer the most
quality, performance, and innovative features.
19
20. Selling Concept
The idea that consumers will not buy enough of the organization’s
products unless the organization undertakes a large – scale selling and
promotion effort.
20
21. Marketing Concept
The marketing management philosophy that holds that achieving
organizational goals depends on determining the needs and wants of
target markets and delivering the desired satisfactions more effectively
and efficiently than competitors do.
21
22. Societal Marketing Concept
The idea that the organization should determine the needs, wants, and
interests of target markets and deliver the desired satisfactions more
effectively and efficiently than competitors in a way that maintains or
improves the consumer’s and society’s well – being.
22
24. Marketing environment
A variety of environmental forces influence a company’s marketing
system. Some of them are controllable while some are uncontrollable. It
is the responsibility of the marketing manager to change the company’s
policies along with the changing environment.
According to “Philip Kotler” A company’s marketing environment
consist of the internal factors and forces, which affect the company’s
ability to develop & maintain successful transaction & relationship with
the company’s target customer’s.
There are 2 classification of environments: Macro & Micro.
25. Importance
Understanding of clear marketing environment is essential for
marketing manager in order to have favorable relationships with
desirable customers which in turn ensures good rerun for his investment
studying the environment allows marketers to take advantage of
opportunities as well as to combat threats.
Marketing intelligence and research are used to collect information
about the environment.
Many companies have started utilizing the opportunities that are
emerging in a changing environment.
26. Types of market environment
Micro environment: these are internal factors, which the organization
can control.
Macro environment: (PEST factors): these are external forces which the
organization does not have direct control over these factors. PEST
(Political, Economical, Social and Technological).
29. What is Marketing Mix?
The marketing mix is the combination of marketing activities that an
organization engages in so as to best meet the needs of its targeted
market. Traditionally the marketing mix consisted of just 4 Ps.
Getting the mix of these elements right enables the organization to meet
its marketing objectives and to satisfy the requirements of customers.
30. The Marketing Mix
The set of controllable, tactical marketing tools that the firm
blends to produce the response it wants in the target
market.
Product: Variety, features, brand name, quality, design,
packaging, and services.
Price: List price, discounts, allowances, payment period,
and credit terms.
Place: Distribution channels, coverage, logistics, locations,
transportation, assortments, and inventory.
Promotion: Advertising, sales promotion, public relations,
and personal selling.
31.
32. product
A product is an item that is built or produced to
satisfy the needs of a certain group of people.
The product can be intangible or tangible as it
can be in the form of services or goods.
A product has a certain life cycle that includes
the growth phase, the maturity phase, and the
sales decline phase. It is important for marketers
to reinvent their products to stimulate more
demand once it reaches the sales decline phase.
33. price
Price is a very important component of
the marketing mix. It is also a very important
component of a marketing plan as it determines
firm’s profit and survival. Adjusting the price of
the product has a big impact on the entire
marketing strategy as well as greatly affecting
the sales and demand of the product.
Pricing always help shape the perception of your
product in consumers eyes. Always remember
that a low price usually means an inferior good
in the consumers eyes as they compare your
good to a competitor.
34. place
Placement or distribution is a very important part
of the product mix definition. You have to
position and distribute the product in a place that
is accessible to potential buyers.
There are many distribution strategies, including:
Intensive distribution
Exclusive distribution
Selective distribution
Franchising
35. promotion
Promotion is a very important component of
marketing as it can boost brand recognition and
sales. Promotion is comprised of various
elements like:
Sales Organization
Public Relations
Advertising
Sales Promotion
37. People
The company’s employees are important in marketing
because they are the ones who deliver the service. It is
important to hire and train the right people to deliver
superior service to the clients, whether they run a
support desk, customer service, copywriters,
programmers…etc.
When a business finds people who genuinely believe
in the products or services that the particular business
creates, it’s is highly likely that the employees will
perform the best they can.
Additionally, they’ll be more open to honest feedback
about the business and input their own thoughts and
passions which can scale and grow the business.
38. process
Process could be your entire sales funnel, a
pay system, distribution system and other
systematic procedures and steps to ensure
a working business that is running
effectively.
39. Physical evidence
In the service industries, there should be physical
evidence that the service was delivered.
Additionally, physical evidence pertains also to
how a business and it’s products are perceived in
the marketplace.
It is the physical evidence of a business’
presence and establishment. A concept of this is
branding. For example, when you think of “fast
food”, you think of McDonalds.
When you think of sports, the names Nike and
Adidas come to mind.
40. Marketing mix with 4C’s
The 4Cs marketing model was
developed by Robert F. Lauterborn in
1990. It is a modification of the 4Ps
model. It is not a basic part of
the marketing mix definition, but
rather an extension.
41. Here are the components of this marketing model:
Cost – According to Lauterborn, price is not the only cost incurred when
purchasing a product. Cost of conscience or opportunity cost is also part of the
cost of product ownership.
Consumer Wants and Needs – A company should only sell a product that
addresses consumer demand. So, marketers and business researchers should
carefully study the consumer wants and needs.
Communication – According to Lauterborn, “promotion” is manipulative while
communication is “cooperative”. Marketers should aim to create an open dialogue
with potential clients based on their needs and wants.
Convenience – The product should be readily available to the consumers.
Marketers should strategically place the products in several visible distribution
points.
42. Convenience goods - Inexpensive products that require little time and
effort on the purchase decisions and are purchased regularly.
Staple goods - Used often/regularly and are kept on hand. Examples:
bread, toilet paper
Impulse goods - Unplanned purchases. Examples: magazine or candy in
a grocery store check-out aisle
Emergency goods - Purchased to satisfy an immediate need. Example:
Medicine purchased on the way to a sporting event to sooth a headache.
Classifications of Consumer
Products/Services
43. Specialty goods - Sought by a consumer who desires a specific brand or
product. The consumer will not accept a substitute. The consumer may
have saved money for long period of time before purchasing or may have
to borrow money to purchase.
Examples: Rolex watch, house, boat.
Classifications of Consumer Products/Services
44. Pure services: Activities performed that do not include a tangible
product.
Non-good services - Personal/professional service for a fee. Example: tax
preparation.
Owned-good services - Activities that alter, improve, or repair products already
owned. Example: dry cleaning, appliance repair service.
Rented-good services - Provide a product to use for a brief period for a fee.
Example: carpet cleaners, movie rental.
Classifications of Consumer Products/Services
45. Product related services - Activities offered with or to
compliment a product. Examples: warranties, alterations.
Classifications of Consumer Products/Services
46. Shopping goods - Products that usually require a great
deal of time and effort for the purchase decision.
Consumers search and compare similar products prior to
purchase.
Clothing items and hardware or appliances are often
considered shopping goods.
Classifications of Consumer Products/Services