Marketing plan and its steps. Selecting a Market and Establishing a Position in the Market. The Process of Selecting a Target Market and Positioning Strategy. branding. marketing mix. launch of product
developing a business model. business model innovation. types of business model. How Business Models Emerge. Components of a Business Model. core strategy, strategic resources
Startup Feasibility Analysis is about checking the different aspects of a startup whether or not the idea will make into a viable business.
It is important to conduct feasibility analysis before investing any money in the idea. The four aspects of feasibility that are important are; Product Feasibility, Industry/Target Market Feasibility, Organizational Feasibility and Financial Feasibility.
Each aspect has been explained in detail with relevant examples.
Feasibility Analysis
Feasibility analysis is the process of determining whether a business idea is viable.
It is the preliminary evaluation of a business idea, conducted for the purpose of determining whether the idea is worth pursuing.
Feasibility analysis takes the guesswork (to a certain degree) out of a business launch, and provides an entrepreneur with a more secure notion that a business idea is feasible or viable.
Comprehensive Feasibility Analysis, Product/Service Desirability
IB Business and Management (Standard Level)
All material taken from the IB Business and Management Textbook:
"Business and Management", Paul Hoang, IBID Press, Victoria, 2007
developing a business model. business model innovation. types of business model. How Business Models Emerge. Components of a Business Model. core strategy, strategic resources
Startup Feasibility Analysis is about checking the different aspects of a startup whether or not the idea will make into a viable business.
It is important to conduct feasibility analysis before investing any money in the idea. The four aspects of feasibility that are important are; Product Feasibility, Industry/Target Market Feasibility, Organizational Feasibility and Financial Feasibility.
Each aspect has been explained in detail with relevant examples.
Feasibility Analysis
Feasibility analysis is the process of determining whether a business idea is viable.
It is the preliminary evaluation of a business idea, conducted for the purpose of determining whether the idea is worth pursuing.
Feasibility analysis takes the guesswork (to a certain degree) out of a business launch, and provides an entrepreneur with a more secure notion that a business idea is feasible or viable.
Comprehensive Feasibility Analysis, Product/Service Desirability
IB Business and Management (Standard Level)
All material taken from the IB Business and Management Textbook:
"Business and Management", Paul Hoang, IBID Press, Victoria, 2007
Ultimately, by bringing into sharper focus the emotional and rational drivers that influence customers’ perceptions and usage of a particular product, it helps to get a clearer perspective on what opportunities can be gained by this unique intelligence.
Topic: Before launching a product in the market, what should a producer do? Suggest some solutions to make products best-selling and always stay ahead in today's competitive market. Give an example of the product which is famous and always best-selling.
CHAPTER 2: MARKETING PRINCIPLES AND STRATEGIES
Lesson 1: Relationship Marketing
Lesson 2: Customer Value
Lesson 3: Customer Relationship Development Strategies Lesson 4: Customer Service Strategy in the Philippine Business Enterprise.
Resources: Principles of Marketing of Dr. Serrano.
Successful Brand Management: Moving from a Product-Centric Focus
to a Customer-Centric Business Model by Susanne Kushner at SVPMA Monthly Event May 2002
The saying is somewhat valid that you only
have “1 shot” at launching a new product but
that would stand the reasoning that 100% of
product launches are successful…and we all
know that’s NOT accurate. In this presentation
I will attempt to provide ways you can
revitalize your brand if indeed…your launch
wasn’t stellar.
Entrepreneurial Selling is a new sales methodology aimed at helping sales people and entrepreneurs to identify and develop new business opportunities together with their customers. The methodology is based on a 10 year long research program on the future of sales.
To appreciate the context of entrepreneurial marketing as distinct to traditional marketing
To examine the entrepreneurial marketing concept – philosophy and consumer orientation
To establish the areas vital to a marketing plan
To establish the concept and need for customer segmentation
To identify the key elements of an effective market survey
To outline the processes and entrepreneurial tactics in marketing esearch
To examine marketing on the internet and the emerging use of social media and mobile marketing for entrepreneurial firms
To differentiate green marketing from traditional marketing practice
To discuss the key features of a pricing strategy and how customisation influences the perception of price by the customer
The Importance of Getting Financing or Funding, Sources of Personal Financing, Examples of Bootstrapping Methods, Alternatives for Raising Money for a New Venture, Preparing to Raise Debt or Equity Financing, Sources of Equity Funding
industry, Industry Analysis, Why is Industry Analysis Important? How Industry and Firm-Level Factors Affect Performance, Techniques Available to Assess Industry Attractiveness, Studying Industry Trends
What is your financial plan for your entrepreneurial activity?The Importance of a Financial Plan. Operating and Capital Budgets. Pro Forma Income Statements. Statement of Cash Flows: The Indirect Method
Ultimately, by bringing into sharper focus the emotional and rational drivers that influence customers’ perceptions and usage of a particular product, it helps to get a clearer perspective on what opportunities can be gained by this unique intelligence.
Topic: Before launching a product in the market, what should a producer do? Suggest some solutions to make products best-selling and always stay ahead in today's competitive market. Give an example of the product which is famous and always best-selling.
CHAPTER 2: MARKETING PRINCIPLES AND STRATEGIES
Lesson 1: Relationship Marketing
Lesson 2: Customer Value
Lesson 3: Customer Relationship Development Strategies Lesson 4: Customer Service Strategy in the Philippine Business Enterprise.
Resources: Principles of Marketing of Dr. Serrano.
Successful Brand Management: Moving from a Product-Centric Focus
to a Customer-Centric Business Model by Susanne Kushner at SVPMA Monthly Event May 2002
The saying is somewhat valid that you only
have “1 shot” at launching a new product but
that would stand the reasoning that 100% of
product launches are successful…and we all
know that’s NOT accurate. In this presentation
I will attempt to provide ways you can
revitalize your brand if indeed…your launch
wasn’t stellar.
Entrepreneurial Selling is a new sales methodology aimed at helping sales people and entrepreneurs to identify and develop new business opportunities together with their customers. The methodology is based on a 10 year long research program on the future of sales.
To appreciate the context of entrepreneurial marketing as distinct to traditional marketing
To examine the entrepreneurial marketing concept – philosophy and consumer orientation
To establish the areas vital to a marketing plan
To establish the concept and need for customer segmentation
To identify the key elements of an effective market survey
To outline the processes and entrepreneurial tactics in marketing esearch
To examine marketing on the internet and the emerging use of social media and mobile marketing for entrepreneurial firms
To differentiate green marketing from traditional marketing practice
To discuss the key features of a pricing strategy and how customisation influences the perception of price by the customer
The Importance of Getting Financing or Funding, Sources of Personal Financing, Examples of Bootstrapping Methods, Alternatives for Raising Money for a New Venture, Preparing to Raise Debt or Equity Financing, Sources of Equity Funding
industry, Industry Analysis, Why is Industry Analysis Important? How Industry and Firm-Level Factors Affect Performance, Techniques Available to Assess Industry Attractiveness, Studying Industry Trends
What is your financial plan for your entrepreneurial activity?The Importance of a Financial Plan. Operating and Capital Budgets. Pro Forma Income Statements. Statement of Cash Flows: The Indirect Method
Final project for marketing management course at Walsh College which challenged the student to research and present a business and marketing plan for an imaginary but prospective and innovative product or service.
Tactics On Dealing With People Wisely In Network Marketing!Uzzal Hossain
Are you struggling with the fact that you really don't know anything about prospecting?
Have you ever felt uneasy or inarticulate when speaking to a prospect? You recognize the moment of truth is upon you . . .
it's time to recruit this fresh prospect -- but how?
What if I can offer you a solution that will help you to attain greatness, to become a success in your prospecting and realize your potential?
With practice this procedure will be easy. For now, abide by these steps to making headway in conversations with prospects.
How to use psychology to create better facebook ads fullDavid Tuminski
If you are looking for scientifically proven strategies and techniques on how to get your Facebook marketing the attention it deserves, take a look at what you will find inside this presentation:
You’ll learn science based psychological principles that will help your Facebook ads convert better.
You’ll get lots of real life examples – you’ll learn how the biggest and best on the market do it, so you can do it just like them.
As a special bonus, you will learn which specific words can trigger the right emotions in your customers so they click your ads like they are hypnotized.
You’ll be surprised how theories on human behavior can help you understand your consumers and deliver on their needs through Facebook Ads.
You can see the full course here -> http://skl.sh/29SLiEp
Resilience is essential for success in challenging times, and the BIG Buzz Oxfordshire Breakfast Briefing provided valuable insights. Lenah Oduor explored the five pillars of growth for a life-centered business, while Andy Bedwell shared tips on building and maintaining momentum. Emma Georgiou focused on building personal resilience for improved performance, and Andy Lambert shared strategies to harness the transformative power of social media. Delegates gained practical knowledge on enhancing customer experiences, staying motivated, and adapting to change, and now you can too!
We are the First representatives of our brands, our brands are an extension of our personality and as the brand driver our decisions concerning life has to be intentional.
There are hundreds of ways to approach influencer marketing, but not all will be effective. Missing just one step can mean your hard-earned money goes to zero.
Don't overthink it—adopt this free Influencer Marketing Strategy for Small Business instead. It provides a clear roadmap for selecting the right influencers to market your product and outlines the essential steps for a partnership that can boost your sales immediately.
Elevate Your Sales Performance.
To become an elite sales professional, you must elevate your presence and establish yourself as a top performer. In the new IMPAX eBook, “6 Strategies to Maximize Sales Results,” co-authors, Brittany Shonka, Amy Franko and Jen Miller provide tools and insights to help you make the leap
Personal branding is the concept of perceiving yourself as a brand, that is, to associate your name with your field of expertise or others.
The following document describes the definition as well as some basic steps in order to establish your personal brand.
This eBook by Avention is a collection of tips from almost 20 different sales and marketing executives on things they wish they had known in their first 90 days on the job to be successful.
On a daily basis I hear Marketing buzz words bantered about and it becomes obvious people say them and don’t really even know what they mean. I think people use the sacred marketing words like relevant, equity or insights, because they figure no one will challenge them. Of course, everyone puts “strategic thinker” on their Linked In profile. The problem I see is that a generation of Brand Leaders have not been properly trained and it’s starting to show. For the past 20 years, companies have said “on the job” training is good enough. But now the lack of training is starting to show up. The mis-use of these words can be linked to the lack of understanding of the fundamentals of marketing.
Delivering a Personal Branding Workshop for Sr HR Leaders and C Suite. One thing is for sure most people make cardinal mistake of copying each other rather than discovering their own true north.
time value of money, future value with exercises, present value exercises. annuity, annuity due exercises, mixed flows, rule of 72 with exercise, unknown interest rate and time period with exercises. present value and future value with discounting monthly, quarterly, semi-annually, annually etc
What Is a Business Plan? What's right time to develop the Business Plan?. Reasons of Developing a Business Plan. Guidelines for Writing a Business Plan. How long and detailed should it be?. Types of Business Plans. Guidelines for Writing a Business Plan. Outline of Business Plan
basic financial analysis, framework for ratio analysis, types of ratio analysis, liquidity ratios, debt ratios, equity ratios, activity ratios, profit ratio, index analysis, common size financial statements
Basic terms review
Capital budgeting introduction
Capital budgeting technique
Sensitivity analysis
Scenario analysis
present value
potential difficulties and strength of capital budgeting
measurement and scaling is an important tool of research. by following the right and suitable scale will provide an appropriate result of research.this slide show will additionally provide the statistical testing for research measurement and scale.
measurement and scaling are very important components for data collection. using the right and appropriate sale is an important aspect of right directed research. additionally, this slide show helps the research to select the suitable statistical test in the reseach
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.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
1. Entrepreneurship and small
business:
Marketing Plan
(Unique Marketing Issues)
Muhammad Shafiq
forshaf@gmail.com
http://www.slideshare.net/forshaf
Book references:
• Entrepreneurship by Bruce R. Barringer
•Entrepreneurship by Hisrich
2. 2
WEEK 1: Wear only what sparks joy
I hired a stylist, who came up with more perfect outfits that looked amazing and felt like me in two hours than I ever found in two years - all within my
budget.
If you're confident enough in your style to not want a stylist, though, then this is the main principle to follow: Wear only what sparks joy.
There are 3 main reasons for this:
The slightest bit of discomfort (whether the physical or emotional) will kill your charisma. You'll feel uncomfortable, which gets in the way of charisma.
Also, if your clothes make you fidget, feel itchy, etc., people will notice your discomfort - but think that you're uncomfortable with THEM.
Wearing only what's comfortable AND makes you feel AMAZING will, well, make you exhibit amazingness. It's also a great confidence booster and
can help kickstart your inner confidence.
Making an incredible first impression starts in part with style.
email news list at http://www.jennifer-
lowe.com.367.6
3. 3
WEEK 2: Hold eye contact longer
Everywhere you go, practice holding eye contact with people walking around half a second longer than you
normally would. For a real challenge, let yourself be the last person to look away. In conversations, try to
maintain steady eye contact as much as possible.
There's an art to eye gaze - you don't want to stare so intently that you seem weird, or stare at people in a
creepy way. So you may need to play with it.
Always remember: This is an experiment. Whatever happens, we're just playing, seeing what happens.
Before, I very rarely got compliments from random people. When I did this in combination with improving
my style, people started asking if I was a model and complimenting my hair a LOT more. One person even
asked to take a picture of my hair to show her stylist.
4. 4
WEEK 3: Get people to move out of your way without saying a word
This is my favorite exercise, which I got from reading The Charisma Myth.
Imagine a big gorilla charging down a street. Now imagine that YOU are the gorilla.
When you walk around down a street or a hallway, or whenever you're around people, imagine that you're
that gorilla. Don't beat your chest or swing your fists - but just imagine that you are the gorilla.
Over time, you'll naturally find yourself taking up more space and people will be moving out of your way.
What this does is improve your presence and power. This is one of the best ways I've found to learn to take
up more space and use more powerful body language without having to be constantly conscious of it. We're
creating a sense of power within, at a more subconscious level.
5. 5
WEEK 4: Develop your boundaries
Personally, I was an approval-seeking push-over that was constantly worried that no one liked
me, and that I had to do everything anyone asked for them to like me.
What started to help with this was reading a book about boundaries. I read Where to Draw the
Line: How to Set Healthy Boundaries Every Day, but there are plenty of books out there that
address this topic.
What changed: I started being very clear about what I was and wasn't willing to put up with. I
stopped being such a push-over who wouldn't defend myself. I brought closer good people
who supported me and made me better. I called out shady people who made weird comments
about me, or stopped talking to them. I wasn't afraid to let them go, or need their approval.
As a result, I started developing a stronger inner sense of confidence that yes, I can speak up,
and yes, I'm worth it. And the people around me now supported this.
YMMV with this one. If this isn't an issue for you, I would dedicate Week 4 to something that
is. You mentioned wanting to become a better speaker. I would look for a public speaking
class or coach. The best public speaking training I know of is Own The Room, and I believe
they teach out in LA. (Sidetone: I used to coach for them, so I may be biased.) Taking improv
classes for a year increased my belief in my competence and comfort with being on stage, but
it didn't increase my charisma noticeably
6. Understanding the Marketing Plan
Marketing plan - A written statement of marketing
objectives, strategies, and activities to be followed
in business plan.
Ask yourself these five critical questions:
1. What is unique about your business idea? What is the general need that your
product or service aims to meet?
2. Who is your target buyer? Who buys your product or service now, and who do you
really want to sell to?
3. Who are your competitors? How can your small business effectively compete in
your chosen market?
4. What positioning message do you want to communicate to your target buyers?
How can you position your business or product to let people know about your
product?
5. What is your sales strategy? How will you get your product or service in the hands
of your customers?
7. Steps in Preparing the Marketing Plan
Defining the Business Situation
Situation analysis - Describes past and present
business achievements of new venture.
In case of a new venture, information should relate to
how and why the product or service was developed.
After a new venture has started up information should
relate to:
Present market conditions.
Performance of the company’s goods and services.
Future opportunities or prospects.
8. Selecting a Market and Establishing a
Position in the Market
Important Questions That All Start-ups Must Ask
In order to succeed, a new firm must address this important
issue: Who are our customers and how will we appeal to
them?
A well-managed start-up approaches this query by
following a three-step process:
Segmenting the market
Selecting a target market
Establishing a unique position
9. The Process of Selecting a Target
Market and Positioning Strategy
10. Market Segmentation
Geographic:
Regions
Urban-rural
Size/density
Weather Climate
Demographic:
Age
Gender
Race
Ethnicity
Family size/life-cycle
Social Class
Education
Income
Occupation
Religion
Psychographic:
Lifestyle (AIO)- VALS Model
Personality
Values
Behavioral:
Occasions (daily, weekly, monthly, events
etc)
Benefits
User status
Ex-user, 1st time user, regular user
Usage rate (low, medium, high)
Loyalty status
Hard-core loyals
Split loyals
Shifting Loyals
Switchers
Attitude toward product( -ve, +ve etc.)
11. Establishing a Unique Position
11
A helpful technique is to develop
a product attribute map, which
illustrates a firm’s positioning
strategy relative to its major
rivals.
The way by which the marketers
attempt to create a distinct
impression in the customer's
mind.
The positioning concepts focus
on the rational or emotional
benefits that buyer will receive or
feel by using the product/service.
12. Establishing a Unique Position
Positioning (continued)
Firms often develop a “tagline” to reinforce the
position they have staked out in their market, or a
phrase that is used consistently in a company’s
literature and thus becomes associated with the
company.
An example is Nike’s familiar tagline, “Just do it.”
The beauty of this simple three-word expression is that it
applies equally to a 21-year-old triathlete and a 65-year-
old mall walker.
13. Branding
Establishing a Brand
A brand is the set of attributes—positive or
negative—that people associate with a company.
These attributes can be positive, such as trustworthy,
dependable, or easy to deal with.
Or they can be negative, such as cheap, unreliable, or
difficult to deal with.
The customer loyalty a company creates through
its brand is one of its most valuable assets.
Brand Management
Some companies monitor the integrity of their
brands through a program called “brand
management.”
15. Branding
Establishing a Brand
So how does a firm establish a brand?
On a philosophical level, a firm must have meaning in
its customers’ lives. It must create value—something
for which customers are willing to pay.
On a more practical level, brands are built through a
number of techniques, including advertising, public
relations, sponsorships, support of social causes, and
good performance.
A firm’s name, logo, Web site design, Facebook page,
and even its letterhead are part of its brand.
16. Branding
Power of a Strong Brand
Ultimately, a strong brand can be a very powerful asset
for a firm.
Over 50% of consumers say that a known and trusted
brand is a reason to buy a product.
A brand allows a company to charge a price for its
products or services that is consistent with its image.
A successful brand can increase the market value of a
company by 50% to 75%.
Brand equity is the term that denotes the set of
assets and liabilities that are linked to a brand and
enable it to raise a firm’s valuation.15
17. • Most experts warn against placing an overreliance on
advertising to build a firm’s brand.
• A more affordable approach is to rely on word of mouth, the
media, and ingenuity to create positive buzz about a
company.
• Creating buzz means creating awareness and a sense of
anticipation about a company and its offerings, it hopes that
people start talking about it and its exciting new product or
service.
• In addition, newspapers, magazines, blogs, and trade
journals are always looking for stories about interesting
companies. Focusing too much on the features and benefits
of their products is a common mistake entrepreneurs make
when trying to gain attention from the media. 17
18. The Four Ps of Marketing for New Ventures
Set of marketing
tools used by a
firm to pursue its
marketing objectives
in a target market.
Or
Combination of a
number of policies
to realize profit
through customer
satisfaction.
19. Product
May consider more than the physical
characteristics.
Involves packaging, brand name, price, warranty,
image, service, delivery time, features, style, and
even the Web site.
Determining the product or products to be sold is
central to the firm’s entire marketing effort. The
most important attribute of a product is that it adds
value in the minds of its target customers. Let’s
think about this by comparing vitamins with pain
pills;
22. Product Levels
i. Core benefit- The fundamental
benefit or services that the
customer is really buying.
The CORE product is NOT the
tangible, physical product. You
can't touch it. That's because the
core product is the BENEFIT of
the product that makes it
valuable to you. So with the car
example………..!
ii. Basic Product- Marketer turns
benefit into basic product.
iii. Expected product- A set of
attributes & conditions buyers
normally expect when they
purchase product according to
their purchasing power.
23. Augmented product- Products that exceeds
consumers expectations. Competition usually takes
place in this level, for which you may or may not
pay a premium. So when you buy a car, part of the
augmented product would be the warranty, the
customer service support offered by the car's
manufacture, and any after-sales service.
v. Potential product- All possible augmentations
& transformations the product might undergo in
future.
24. Pricing
The amount of money consumers pay to buy a
product. It is the only element in the marketing mix
that produces revenue; all other elements represent
costs. Price is an extremely important element of the
marketing mix because it ultimately determines how
much money a company can earn.
Costs based/markup pricing
Target Return pricing
Value-based pricing
Competition based (going-rate) Pricing
Auction based pricing 24
25. Strategies 1,5 & 9 (diagonal) show prices according
to quality offered
Strategies 2,3 & 6 to attack the diagonal position
Strategy 4,7 & 8 show overpriced products
Nine Price-Quality Strategies
26. Placement
Refers to providing the product at a place which is
convenient for consumers to access.
Various strategies such as intensive distribution,
selective distribution, exclusive distribution,
conventional marketing system, vertical
marketing system, and franchising can be used by
the marketer to complement the other aspects of
the marketing mix..
28. Conventional marketing System- comprises
of independent producers, wholesalers or
retailers who business just to maximize their
own profit even if it reduces profit for a system
as a whole. In this there is no control upon any
member of channel
29. Vertical Marketing Channel/system (VMS)
by contrast, comprises the producer, wholesaler, or
retailers acting as a unified/coordinated way. The high
degree of control and coordination in VMS is achieved
through one of the three means:
Corporate VMS: common ownership of successive level
of a channel.
Contractual VMS: contracts between independent
channel members to increase the efficiency and
effectiveness of distribution (franchises etc)
Administrative VMS: Coordination in distribution
through market/economic power of one of channel
members.
31. Promotion
General Definition- activity that supports
or encourages a cause, venture, or aim.
Promotion refers to the activities the firm
takes to communicate the merits of its
product to its target market.
Marketing activities to communicate
positive, persuasive information about an
organization, its products and its activities
to a target audience to increase sales &
profit of organization.
32. Advertising
Personal Selling
Any Paid Form of Non-personal
Presentation by an Identified
Sponsor.
Sales Promotion Short-term Incentives to
Encourage Sales.
Public Relations
Building Good Relations with
Various Publics by Obtaining
Favorable Unpaid Publicity.
Direct Marketing
Direct Communications With
Individuals to Obtain an
Immediate Response.
Personal Presentations by a Firm’s
Sales Force.
There are five main aspects of a Promotional Mix
33. Type of Advertisement
Television
Radio
Print
Online
Billboards
Mobile Billboards
In-store advertising
Infomercials
Covert advertising
Celebrities
34. Google AdWords and AdSense Program
AdWords
Allows advertisers to buy
keywords on the Google home
page.
Text-based ads to the side of (and
sometimes above) search results
when the keyword is used.
The program includes local,
national, and international
distribution.
Advertisers pay a certain amount
per click.
AdWords has evolved into Google's
main source of revenue.
Google's total advertising revenues
were USD $42.5 billion in 2012.
35. AdSense
Allows advertisers to buy ads that
will be shown on other Web sites
instead of Google’s home page.
Google selects sites of interest to
the advertiser’s customers.
Advertisers are charged on a pay-
per-click or a per-thousand
impression basis.
Advertisers benefit because the
content of the ad is often relevant
to the Web site.
Web site owners benefit by using
the service to monetize their Web
site.
In Q1 2011, Google earned US
$2.43 billion ($9.71 billion
annualized), or 28% of total
revenue, through Google AdSense
36. Other Promotions Techniques
Viral Marketing
Facilitates and
encourages people to
pass along a marketing
message about a
particular product or
service. . (through
social media and emails
usually by including
jokes, games, video
clips, etc)
38. Public Relations
Public Relations
One of the most cost effective
ways to increase the awareness of
the products of a company is
through public relations.
Public relations refer to efforts to
establish and maintain a
company’s image with the public.
The major difference between
public relations and advertising is
that public relations is not paid
for—directly.
39. Public Relations Techniques
Press release
Social media
coverage
Blogging
Civic, social, and community
involvement
Traditional media
coverage
Articles in industry
press and periodicals
Monthly newsletter
40. Social Media
Social Media
Consists primarily of blogging and connecting with
customers and others through social networking sites like
Facebook and Twitter.
Blogging
The idea behind blogs is that they familiarize people with a
business and help build an emotional bond between a
business and its customers.
Facebook and Twitter
Businesses establish a presence on Facebook and Twitter to
build a community around their products and services.
41. Marketing Strategy: Consumer
versus Business-to-Business
Markets
Business-to-business markets involves selling of
products or services to another business.
Usually aims at selling a large volume in one transaction.
Involves a more direct channel of distribution.
Use trade magazine advertising, direct sales, and trade
shows.
Consumer markets involve sales to households for
personal consumption.
43. Monitoring the Progress of Marketing
Actions
Involves tracking results of the marketing effort.
Entrepreneur should prepare for contingencies.
Minor adjustments in the plan are normal;
significant changes indicate a poorly prepared plan.
Weaknesses in market planning may be due to:
Poor analysis of the market and competitive strategy.
Unrealistic goals and objectives.
Poor implementation of the outlined plan actions.
Unforeseen hazards like weather or war.
45. Mian Zeeshan Akhtar, CEO, Chairman and mastermind
behind the success of Q Mobile. After completing his
education from the United States in 2003, he work for LG &
Samsung distribution in Pakistan. In 2009, Akhtar took
charge of a company that soon became a corporate giant.
Today, Q Mobile is the biggest player in Pakistan’s mobile
phone industry.
Along with sound strategy, quality emphasis and effective
distribution, a heavy marketing campaign has also helped
the company build a strong brand name. Qmobile’s
advertising budget is higher than even that of multinational
brands. The company uses product placement, celebrity
endorsements as an advertising technique to promote its
products. 45
46. Company operates with a different business model as
compared to companies like Samsung and Microsoft:
although it calls itself a mobile phone company, QMobile
does not manufacture its own devices; instead, it imports
them from vendors in China, and sells them under its own
brand. The same phones are sold in India under the
Micromax label.
Qmobile provides fairly high-end features at prices
affordable for most Pakistanis: you can now buy a branded
Android smartphone for as low as Rs 4,500, complete with
a warranty, thanks to QMobile. This may well be the
primary driver behind QMobile’s growth. 46