This document provides an overview of key marketing concepts for designers to understand. It discusses how marketing involves communicating the value of products/services to customers and building relationships. The lecture examines consumer behavior, the 4 P's framework, market segmentation, branding, and how technologies can enhance marketing. It emphasizes that designers should appreciate marketing's role in serving customers and work collaboratively with marketing professionals to ensure products meet consumer needs.
1. Product
Retailers must have the right assortment of products and sell them in a manner compatible with their marketing view retailers must decide on the number of assortments in the store and the number of products in each range. In addition, they must select the quality of the articles within each category, decide on pricing policy. Finally, retailers must determine if the assortments should generally be stable over time
2. Price
A price strategy should reflect the company's own objectives and be related to the sales and profit. The goals to be achieved can be established as income and/ or volume units.
a) Market penetration pricing strategy is used when the retailer wishes to acquire revenue by setting a low price and selling a large number of product units.
b) High price strategy is used by the company to attract customers who are not concerned about the price, but the service and prestige. Usually the strategy does not maximize sales, but brings great profit per unit.
c) Cost-oriented pricing strategy The retailer sets the price, adding the operating expenses and desired profit to the cost per unit. The difference between the merchandise cost and the selling price is the trade margin. With a variable margin policy, retailers adjust the margins on merchandise categories.
d) The strategy of prices adjustment to market conditions The retailer may adjust prices according to the demand or market segment. The best example of adapting the retailer prices from Romania to the market demand are represented by some food prices (oil, sugar, flour) and durable goods prices (electronics, appliances, cars) in 2008.
e) Competition-oriented price strategy A retailer can use competition prices as guide. A company may not modify prices if there have been changes in demand or costs, if they are not modified by competition. Similarly, a firm may change its prices if the competition changes them, even if there have not been changes in demand or costs.
3. Place
Some specialists substituted in the literature the term "distribution channel" with "marketing channel” This change aims to emphasize the role of intermediaries in the distribution process, to create value for users or consumers, adding the utility of form, possession, time and place. In addition, the role of marketing channels is not only to participate in demand satisfaction by offering goods and services, but it also requires active participation to stimulate demand through information, creating proximity and promotion developed by members of the economic units network that form the channel. The product must be available at the right place (Product category), at the right time (time you sell your product), and in the right quantity (enough stock).
4. Promotion
Some specialists considers that the role of the promotion policy in the retail business is to attract potential consumers (creating traffic in store) to convert visitors into consumers and to retain buye
1. Product
Retailers must have the right assortment of products and sell them in a manner compatible with their marketing view retailers must decide on the number of assortments in the store and the number of products in each range. In addition, they must select the quality of the articles within each category, decide on pricing policy. Finally, retailers must determine if the assortments should generally be stable over time
2. Price
A price strategy should reflect the company's own objectives and be related to the sales and profit. The goals to be achieved can be established as income and/ or volume units.
a) Market penetration pricing strategy is used when the retailer wishes to acquire revenue by setting a low price and selling a large number of product units.
b) High price strategy is used by the company to attract customers who are not concerned about the price, but the service and prestige. Usually the strategy does not maximize sales, but brings great profit per unit.
c) Cost-oriented pricing strategy The retailer sets the price, adding the operating expenses and desired profit to the cost per unit. The difference between the merchandise cost and the selling price is the trade margin. With a variable margin policy, retailers adjust the margins on merchandise categories.
d) The strategy of prices adjustment to market conditions The retailer may adjust prices according to the demand or market segment. The best example of adapting the retailer prices from Romania to the market demand are represented by some food prices (oil, sugar, flour) and durable goods prices (electronics, appliances, cars) in 2008.
e) Competition-oriented price strategy A retailer can use competition prices as guide. A company may not modify prices if there have been changes in demand or costs, if they are not modified by competition. Similarly, a firm may change its prices if the competition changes them, even if there have not been changes in demand or costs.
3. Place
Some specialists substituted in the literature the term "distribution channel" with "marketing channel” This change aims to emphasize the role of intermediaries in the distribution process, to create value for users or consumers, adding the utility of form, possession, time and place. In addition, the role of marketing channels is not only to participate in demand satisfaction by offering goods and services, but it also requires active participation to stimulate demand through information, creating proximity and promotion developed by members of the economic units network that form the channel. The product must be available at the right place (Product category), at the right time (time you sell your product), and in the right quantity (enough stock).
4. Promotion
Some specialists considers that the role of the promotion policy in the retail business is to attract potential consumers (creating traffic in store) to convert visitors into consumers and to retain buye
Dissertation ppt on ROLE OF SALES PROMOTION IN FMCGanonymous
Dissertation ppt on ROLE OF SALES PROMOTION IN FMCG
ABOUT THE TOPIC
MARKETING MIX AND PROMOTIONS
PROMOTION – One of the important element
SALES PROMOTION
WHY MARKETERS USE
DIFFERENT LOYALTY PROGRAMS IN BIG BAZAAR AND ITS VALUE TO THE CUSTOMER.NITESH RANJAN
This is a Project work done with the research o the Loyalty programs in Big Bazaar at the time of 2015 during Marketing internship at Jamshedpur store. It covers most of the information about the response of customer towards the loyalty programs through the pie charts and subjective matter according to the Market situation at that time.
This presentation has been designed in order
to better understand the added-value of implementing Category Managementinside an organization and the prerequisite to do it in an efficient way,
in terms of knowledge, tools and data .
management of key accounts of an organisation. KAM portfolio. hierarchy of key relationships.pricing and negotiation.relationship management with key accounts.decision makers.
Dissertation ppt on ROLE OF SALES PROMOTION IN FMCGanonymous
Dissertation ppt on ROLE OF SALES PROMOTION IN FMCG
ABOUT THE TOPIC
MARKETING MIX AND PROMOTIONS
PROMOTION – One of the important element
SALES PROMOTION
WHY MARKETERS USE
DIFFERENT LOYALTY PROGRAMS IN BIG BAZAAR AND ITS VALUE TO THE CUSTOMER.NITESH RANJAN
This is a Project work done with the research o the Loyalty programs in Big Bazaar at the time of 2015 during Marketing internship at Jamshedpur store. It covers most of the information about the response of customer towards the loyalty programs through the pie charts and subjective matter according to the Market situation at that time.
This presentation has been designed in order
to better understand the added-value of implementing Category Managementinside an organization and the prerequisite to do it in an efficient way,
in terms of knowledge, tools and data .
management of key accounts of an organisation. KAM portfolio. hierarchy of key relationships.pricing and negotiation.relationship management with key accounts.decision makers.
Lecture 2 - VDIS10023 – From Design Brief to Design.
Here, is the finale! The Design. We have a brief and a plan which will now culminate into a Design. A design that addresses the aims mentioned in the brief, it gives an attractive form to the conceptual thoughts of the designer and completes a function. It is the design that takes the client’s message through the designer’s idea and a media to the target audience.
Last but not the least…Production is that important phase which takes the designers creation to its target audience through magazines, newspapers, packaging, TV commercials, an app etc. and spreads awareness and interest of the product/service, converts it to sales which in turn boosts the sales for the client.
Lecture 2 - VDIS10023 – From Design Brief to Design.
The Plan will take you through the essentials of planning a Design before actually creating the design. It explains the different methods like Brainstorming, Visual Research and Presenting Ideas.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
2. Welcome Marketing Concepts a lecture about the Consumer
and the Designer. This lecture will examine Marketing theories
as they apply to designers. It is important that designers
understand these theories and practices because in the most
part designers are working directly with or for marketing
professionals.
Marketing is the process of communicating the value of a
product or service to customers. It is a critical business function
for attracting customers. From a societal point of view,
marketing is the link between a society’s material requirements
and its economic patterns of response.
3. Marketing satisfies these needs and wants through exchange
processes and building long term relationships. The process of
communicating the value of a product or service through
positioning to customers. Marketing can be looked at as an
organisational function and a set of processes for creating,
delivering and communicating value to customers, and
managing customer relationships in ways that benefit the
organisation and its shareholders.
Marketing chooses target markets through market analysis and
market segmentation, understanding consumer buying
behaviour and providing superior customer value.
4. There are five competing concepts under which organisations
can choose to operate their business; the production concept,
the product concept, the selling concept, the marketing concept,
and the holistic marketing concept.
The four components of holistic marketing are relationship
marketing, internal marketing, integrated marketing, and socially
responsive marketing. Successful marketing management
includes, capturing marketing insights, connecting with
customers, building strong brands, shaping the market
offerings, delivering and communicating value, creating long-
term growth, and developing marketing strategies and plans.
5. Customer Orientation: An organisation in the market
economy survives by producing goods and services that
persons are willing and able to buy.
Consequently, ascertaining consumer demand is vital for future
viability and even existence as a going concern. Many
organisations today have a customer focus (or market
orientation). They focus their activities and products on
consumer demands with designers involved. There are three
key approaches to doing this; ie: consumer-driven, market
change identification and/or product innovation.
6. In the consumer-driven approach, consumer wants are the
drivers of all strategic marketing decisions. No strategy is
pursued until it passes the test of consumer research. Every
aspect of a market offering, including the nature of the product
itself, is driven by the needs of potential consumers.
The starting point is always the consumer. The rationale for this
approach is that there is no reason to spend on Research and
Development and design developing products that people will
not buy. History attests to many products that were commercial
failures in spite of being technological breakthroughs.
7. The Four Ps: A formal approach to this customer-focused
marketing is known as SIVA (Solution, Information, Value,
Access). This system is basically the four Ps renamed and
reworded to provide a customer focus. The SIVA Model
provides a demand/customer-centric alternative to the well-
known 4four Ps supply side model (product, promotion, price,
placement) of marketing management.
Product Promotion Price Place (Distribution)
→ → → →
Solution Information Value Access
8. If any of the four Ps become problematic for an organisation or
are not a marketing factor of the business, the business could
find itself in trouble with competitors appearing in the market
place, and its consumer demand on this product decreasing.
In recent years service marketing has widened the domains to
be considered by marketers, increasing us to the seven P's of
marketing. The proposed additional three P's of service
marketing are: process, physical environment and people.
Some consider there to simply be a fifth "P": positioning.
9. Organisational orientation: An organisation's marketing
department is often seen as of prime importance within the
functional level of that organisation. Information from an
organisation's marketing department would be used to guide
the actions of other departments. As an example, a marketing
department could ascertain (via market research) that
consumers desired a new type of product, or a new usage for
an existing product. With this in mind, the marketing
department would brief the Research and Development (R&D)
department and designers to create a design of a product or
service based on the consumers' new desires.
10. The production department would then start to manufacture the
product, while the marketing department would focus on the
marketing; promotion, distribution, pricing, etc. of the product.
Additionally, a organisation's finance department would be
consulted, with respect to securing appropriate funding for the
development, production and promotion of the product.
Often interdepartmental issues may arise: production may
oppose the installation, support and servicing of new capital
equipment and stock needed to manufacture a new product.
Finance may oppose the required capital expenditure, since it
could undermine the cash flow of the organisation.
11. Herd Behaviour: Herd behaviour in marketing is used to
explain the dependencies of customers' on mutual behaviour,
relying on marketing mechanisms to increase impulse buying
and get people to buy more by playing on the herd instinct.
People will buy more of products or services that are seen to
be popular, and several feedback mechanisms to get product
popularity information to consumers are known, including smart
card technology, social media activity, mobile device
connectivity and the use of radio frequency identification tags.
Online retailers often inform consumers of "which products are
popular with like-minded consumers” eg: Amazon, Ebay...
12. Market Research: As discussed in our lecture; A Designers
Guide to Research, market research, as a sub-set aspect of
marketing activities, can be divided into the following parts:
- Primary research (also known as field research), which
involves the conducting and compilation of research for a
specific purpose.
- Secondary research (also referred to as desk research),
initially conducted for one purpose, but often used to support
another purpose or end goal.
13. By these definitions, an example of primary research would be
market research conducted into health foods, which is used
solely to ascertain the needs/wants of the target market for
health foods. Secondary research in this case would be
research about health foods, but used by a firm wishing to
develop an unrelated product into a similar market area.
Primary research is often expensive to prepare, collect and
interpret from data to information. While secondary research is
relatively inexpensive, it often can become outdated and
outmoded quickly, given that it is used for a purpose other than
the one for which it was intended.
14. Primary research can also be broken down into quantitative
research and qualitative research, which, as the terms suggest,
relate to the numerical and non-numerical research methods
and techniques used, respectively.
The appropriateness of each mode of research depends on
whether data can be quantified (quantitative research), or
whether subjective, non-numeric or abstract concepts are
required to be studied (qualitative research).
15. Other additional modes of marketing research are:
- Exploratory research, research that investigates assumptions.
- Descriptive research, which, as the term suggests, describes
"what is”
- Predictive research, meaning research conducted to predict a
future occurrence.
- Conclusive research, for the purpose of deriving a conclusion
via a research process.
16. Market Segmentation: Market segmentation is the division of
a market of consumers into persons with similar needs and
wants. For instance, Kellogg's cereals, Frosties are marketed
to children. Crunchy Nut Cornflakes are marketed to adults.
Above are two similar products which are marketed to two
distinct groups of people, both with similar needs, traits, and
wants. In another example, Sun Microsystems can use
market segmentation to classify its clients according to their
promptness to adopt new products. Market segmentation
allows for a better allocation of a firm's finite resources.
17. Any organisation only possesses finite resources and must
make choices (and incur the related costs) in servicing
specific segments of its consumers. In this way, the diversified
tastes of contemporary consumers can be served better.
With growing diversity in the tastes of modern consumers,
organisations are taking note of the benefit of servicing a
multiplicity of segmented new markets. Market segmentation
can be defined in terms of the STP acronym, meaning
Segment, Target and Position.
18. Marketing Strategy: Marketing strategy considers the total
marketing environment and its impacts on a company or
product or service. The emphasis is on "an in depth
understanding of the market environment, particularly the
competitors and customers.”
A given organisation may offer numerous products or services
spanning numerous and sometimes wholly unrelated
marketplaces. A marketing plan is required in order to
effectively serve the strategy, including weighing up how to
utilize finite resources such a communications design,
advertising (traditional and online) and direct marketing.
19. For example, a start-up car manufacturing firm would face
little success should it attempt to rival Toyota, Ford, Nissan,
Chevrolet, or any other large global car maker. Such a
scenario would require a unique marketing strategy.
A marketing strategy differs from a marketing tactic in that a
strategy looks at the longer term view of the products, goods,
or services being marketed. A tactic refers to a shorter term
view. Mailing of a postcard or sales letter is a tactic, but a
campaign considering retail locations, regular postcards,
letters, internet advertising, editorial placement is a strategy.
20. Brand Management: Brand management is a communication
function that includes analysis and planning on how any given
brand is positioned in the market place, which segment of the
public the brand is targeted at, and maintaining a desired
reputation of the brand. Developing a good brand relationship
with a market is essential for brand management.
Tangible elements of brand include the product itself; the look
and feel, price, packaging. Intangible elements are experiences
that the consumer takes away from the brand, and also the
relationship that they have with the brand such as after sales
service. A brand manager would oversee all of these things.
21. B2C Buying Behaviour: This behaviour concerns consumers
and their purchase of a given product such as a pair of
sneakers, the desire for a pair of sneakers would be followed
by an information search on available types/brands. This may
include perusing media outlets, and the internet and commonly
information from family and friends. Purchase decision is made
the consumer buys the product through an outlet or online.
Following this stage, a post-purchase evaluation is often
conducted, comprising an appraisal of the purchase. If the
value/utility is high, then repeat purchases may occur which
could develop consumer loyalty to the brand or organisation.
22. B2B Buying Behaviour: Relates to organisational/industrial
provider buying behaviour. Business buy either wholesale from
other businesses or directly from the manufacturer in contracts
or agreements.
B2B marketing involves one business marketing a product or
service to another business and often the strategies and plans
have to same content but with different targeting.
B2C and B2B behaviour are not precise terms, as similarities
and differences exist between and within them.
23. Use of Technologies: Marketing relies on various
technologies. Computer-based information systems are
employed, aiding in better processing and storage of data.
Most common of these are Customer Relationship
Management systems (CRM), software for direct marketing
and data collection.
Marketing researchers within organisations use information
systems, hardware and software components, to collect raw
market data through enhanced data gathering methods. The
data from information technology improves an organisation's
marketing decision-making process.
24. Information technology has typically progressed at a fast rate,
leading to marketing managers needing to be aware of the
latest technological developments. In recent years, the
notebook/laptop personal computer has gained significant
market share, largely due to its more user-friendly size and
portability.
Smartphones resulted from a demand among consumers for
more technologically advanced portable (mobile) and
convenient products. An organisation can lose out to its
competitors if it ignores these innovations in its industry.
25. Technological advancements can lessen barriers between
countries and regions. Using the internet, organisations can
quickly dispatch information from one country to another
without restrictions. Prior to the mass usage of the Internet,
such transfers of information would have taken much longer.
More recently, there has been a large emphasis on data
analytics. Data can be mined from various sources such as
online forms, mobile phone applications, internet browsing
and more recently, social media activity.
26. Services Marketing: Services marketing is the marketing of
services, as opposed to tangible products. A service is typically
defined as a purchase which is used and consumed
simultaneously. It does not have material form, and therefore
requires a considered, different approach to its marketing.
The use of a service is inherently subjective, meaning that
several persons experiencing a service would each experience
it uniquely; ie: riding a train, viewing a movie or seeing a
consultant. Services can also be viewed as a spectrum; not
pure goods or pure services; ie: a restaurant, where a waiter's
service is intangible, but the food is tangible.
27. A Summary of Marketing Concepts: The purpose of this
lecture is for you as a designer to consider how you will work
with those in the marketing discipline and how your products
will serve your customers as either the product itself or as the
communication that promotes and positions the product or
service.
Designers have a lead role to play in this business continuum
and it is only by understanding the responsibilities and
methodologies of your business colleagues that you will be
able to appreciate their skills and work with them a s a team.