Marketing

1. Marketing and Sales Training

2. Content
•Marketing: Definition
•Market segmentation
•Marketing concepts
• Market demand
• Product
• Value and satisfaction
• Exchange and transactions
•Marketing channels
•Competition
•Marketing environment
•Marketing mix

3. Marketing Defined…..
The Chartered Institute of Marketing define marketing as
“The management process responsible for identifying ,
anticipating and satisfying customer requirements
profitably”
According to William Stanton
“Marketing is a total system of business activities designed to
plan, price, promote & distribute want satisfying products to
target markets in order to achieve organisational objectives”
According to Philip Kotler
“Marketing is a human activity directed at satisfying needs
and wants through exchange process”

4. Scope of Marketing
• Marketing Research
• Product Planning & Development
• Pricing
• Advertising & Publicity
• Sales Promotion
• Packaging
• Branding & Labelling
• After Sales Service
• Test Marketing

5. Importance/ Benefits Of Marketing
• Satisfaction of human needs & wants
• Profits & market reputation
• Facilitates specialisation division of labour
• Widens the market
• Improves standard of living
• Bring economic growth
• Creates new norms of social economic behaviour
• Provides channels of communication to business firms
• Facilitates price control
• Develops social significance at.

6. MARKETING CONCEPTS

7. 7
Core Concepts of Marketing
Needs, wants
demands
Markets Marketing &
Marketers
Utility, Value &
Satisfaction
Exchange, Transaction
Relationships
Products

8. Need, Want &Demand
A need is a state of felt deprivation of some basic satisfaction
Wants are desires for specific satisfiers of these deprived needs
Demands are wants for specific products that are backed by an
ability and willingness to buy them

9. Marketing Concept Continued…
Product is any thing that can be offered to satisfy a need or
want
Exchange is the act of obtaining a desired product from
someone by offering something in return
A Market consists of all the potential customers sharing a
particular need or want who might be willing and able to
engage in exchange to satisfy that need or want.

10. Market Segmentation
Market segmentation is a marketing strategy that involves dividing a
broad target market into subsets of consumers who have common needs,
and then designing and implementing strategies to target their needs and
desires using media channels and other touch-points that best allow to
reach them.
The process of defining and subdividing a large homogeneous market
into clearly identifiable segments having similar needs, wants or
demand characteristics. Its objective is to design a market mix that
precisely matches the expectations of customers in the targeted segment.

12. • Geographic—The study of city size,
urban/suburban/rural population distribution and
climate.
• Demographic—The study of distribution of
population’s age, sex, income, stage in family cycle
and ethnic background.
• Psychographic—Personalties, lifestyles, social class
including Activities Interests and Opinions (AIO).
• Behaviour towards products.
• Benefits desired or sought.
• Product usage rate.

13. Objectives of segmentation are:
1) To reduce risk in deciding where, when, how, and to
whom a product, service, or brand will be marketed;
2) To increase marketing efficiency by directing effort
specifically toward the designated segment in a
manner consistent with that segment's characteristics.

14. Market segmentation process
1. Identify the needs & wants of customers.
2. Identify the different characteristics
between market segments.
3. Estimate the market potential.

15. Marketing channels
Marketing channels can be viewed as a sets of interdependent organizations
involved in the process of making a product or service available for use or
consumption
Functions
• Information
• Promotion
• Negotiation
• Ordering
• Financing
• Risk taking
• Physical possession
• Payment
• Title

16. Channel selection
• Analyzing the customer needs (lot size, waiting time, product
variety, service backing etc)
• Establishing channel objectives( product characteristics)
• Identifying the major alternatives (types & No of intermediaries)
• Evaluating (Economic, Control, Adaptive Criteria)

17. Distribution Channel Decisions
Selecting
Managing
Motivating
Distribution
Channel
Decisions

18. Distribution Intermediaries
Distribution Channel
Intermediaries
Brokers
Distributors
Wholesalers
Retailers

19. Competition
To prepare an effective marketing strategy, a
company must study its competitors as well as its
actual and potential customers
A company's closest competitors are those seeking to
satisfy the same customers and needs and marketing
similar offers
A company needs to gather information on
competitor’s strategies objectives, strengths,
weakness, and reaction pattern

20. strategies
• Price discounts
• Lower-priced goods
• Value-priced goods
• Prestige goods
• Product proliferation
• Product innovation
• Improved services
• Distribution innovation
• Manufacturing-cost reduction
• Intensive advertising promotion

21. Marketing environment
The market environment refers to factors and forces
that affect a firm’s ability to build and maintain
successful relationships with customers.
Two levels of the environment are:
• Micro (internal) environment - small forces within
the company that affect its ability to serve its
customers.
• Macro (national) environment - larger societal forces
that affect the microenvironment.

23. Marketing Mix
Is the set of marketing tools that the firm uses to pursue its
marketing objectives in the target market.
From the sellers view point (4P)
• Product
• Price
• Place
• Promotion
Customers View point (4C)
• Customer needs and wants
• Cost
• Convenience
• Communication

24. FUNCTIONS OF MARKETING
The ten (11) functions of marketing are;
· Researching
· Buying
· Product development and management
· Production
· Promotion
· Standardization and grading
· Pricing
· Distribution
· Risk bearing
· Financing
· After sales-service

26. Sales forecasting
Elements of a Good Forecast
Timely
Accurate
Reliable
M
eaningful
Written
Easy
to
use

27. Relating Price to Ads and
Promotion
Price must be consistent with perceptions of
the product
Higher prices communicate higher product
quality
Lower prices reflect bargain or “value”
perceptions
Price, advertising and distribution be unified
in
identifying product position
Pricing
Considerations
A product positioned as high quality while
carrying a lower price than competitors will
confuse customers

28. End of Marketing Lecture