Download to read offline
Marketing Techniques Training and pr.ppt
- 1. Marketing and SalesTraining
- 2. Content â˘Marketing: Definition â˘Market segmentation â˘Marketingconcepts ⢠Market demand ⢠Product ⢠Value and satisfaction ⢠Exchange and transactions â˘Marketing channels â˘Competition â˘Marketing environment â˘Marketing mix
- 3. Marketing DefinedâŚ.. The CharteredInstitute of Marketing define marketing as âThe management process responsible for identifying , anticipating and satisfying customer requirements profitablyâ According to William Stanton âMarketing is a total system of business activities designed to plan, price, promote & distribute want satisfying products to target markets in order to achieve organisational objectivesâ According to Philip Kotler âMarketing is a human activity directed at satisfying needs and wants through exchange processâ
- 4. Scope of Marketing â˘Marketing Research ⢠Product Planning & Development ⢠Pricing ⢠Advertising & Publicity ⢠Sales Promotion ⢠Packaging ⢠Branding & Labelling ⢠After Sales Service ⢠Test Marketing
- 5. Importance/ Benefits OfMarketing ⢠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.
- 7. 7 Core Concepts ofMarketing Needs, wants demands Markets Marketing & Marketers Utility, Value & Satisfaction Exchange, Transaction Relationships Products
- 8. Need, Want &Demand Aneed 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⌠Productis 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 segmentationis 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. ⢠GeographicâThe studyof city size, urban/suburban/rural population distribution and climate. ⢠DemographicâThe study of distribution of populationâs age, sex, income, stage in family cycle and ethnic background. ⢠PsychographicâPersonalties, lifestyles, social class including Activities Interests and Opinions (AIO). ⢠Behaviour towards products. ⢠Benefits desired or sought. ⢠Product usage rate.
- 13. Objectives of segmentationare: 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 channelscan 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 ⢠Analyzingthe 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.
- 18.
- 19. Competition To prepare aneffective 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 competitorâs strategies objectives, strengths, weakness, and reaction pattern
- 20. strategies ⢠Price discounts â˘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 marketenvironment refers to factors and forces that affect a firmâs 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 theset 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 Theten (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 ofa Good Forecast Timely Accurate Reliable M eaningful Written Easy to use
- 27. Relating Price toAds and Promotion Price must be consistent with perceptions of the product Higher prices communicate higher product quality Lower prices reflect bargain or âvalueâ 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 MarketingLecture
Editor's Notes
- #17Â Relation to text This slide refers to material on pp. 65-66 of the text. Summary Overview Distribution decisions are among the most important made by marketers and often play a role in shaping the image of a company or brand. This slide shows various distribution channel decisions marketers must make including: Selecting the type of channels that will be used to distribute a product Managing the relationship with channel members Motivating channel members to stock and promote the companyâs product Use of this slide This slide can be used as part of a discussion of distribution channel decisions and how they must be coordinated with the other elements of the marketing mix.
- #18Â Relation to text This slide refers to material on pp. 65-66 of the text. Summary Overview Marketing channel intermediaries are critical to the success of a companyâs marketing program. Brokers, distributors, wholesalers, and retailers are all intermediaries or âmiddlemenâ who are involved in the process of making a product or service available for use or consumption. Intermediaries are sometimes called resellers. Consistent with the product and pricing decisions, where the product is distributed sends a message. Selling a product at Neiman Marcus conveys a very different message than selling it at Wal-Mart. Use of this slide This slide can be used to introduce the various marketing intermediaries and discuss the important role they play in the marketing process.
- #27Â Relation to text This slide relates to material on pp. 64-65 of the text. Summary Overview The price that a firm charges for a product or services must be consistent with itâs advertising and promotion campaigns. A number of pricing considerations are shown on this slide. It is important to point out that a product positioned as a high quality while carrying a lower price than competitors will confuse customers Use of this slide This slide can be used to explain the role of pricing decisions in an IMC program. Pricing needs to be coordinated with the other elements in the marketing mix to create an effective IMC program.