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Presentation1.ppt 10

  1. 1. 12:11 ‫م‬12:11 ‫م‬12:11 ‫م‬12:11 ‫م‬ DR/Yasser AbdelmaksoudDR/Yasser Abdelmaksoud 11LESSON 10 –LESSON 10 –BUSINESS BASICSBUSINESS BASICSPART III -PART III -MARKETING & SALESMARKETING & SALES
  2. 2. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 2Introduction:Introduction:Create it, Get the word out, and Sell itCreate it, Get the word out, and Sell itA company’s financial health starts withA company’s financial health starts withsales.sales.In this lesson we will go over the basicIn this lesson we will go over the basicconcepts of marketing and sales. This willconcepts of marketing and sales. This willinclude market strategies, marketinclude market strategies, marketresearch, the 4 P’s of marketing, salesresearch, the 4 P’s of marketing, salestactics, type of sales, the sales force andtactics, type of sales, the sales force andthe keys to developing successfulthe keys to developing successfulproducts.products.
  3. 3. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 3What is a Market and the MarketingWhat is a Market and the MarketingDepartmentDepartment??A Market is a group of customers or potentialA Market is a group of customers or potentialcustomers.customers.The market starts with the total population,The market starts with the total population,thenthen PotentialPotential markets that have an interest,markets that have an interest,thenthen AvailableAvailable markets that have the money,markets that have the money,thenthen Target Target markets that are the customers themarkets that are the customers thecompany has determined to serve (the servedcompany has determined to serve (the servedmarket), then finally themarket), then finally the PenetratedPenetrated markets whomarkets whohave already bought your products and/orhave already bought your products and/orservices.services.Marketers need to be creative people as there isMarketers need to be creative people as there isa lot of competition out there.a lot of competition out there.Marketing is always trying to develop satisfyingMarketing is always trying to develop satisfyingrelationships with customers that benefit bothrelationships with customers that benefit boththe customer and the organization.the customer and the organization.
  4. 4. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 4
  5. 5. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 5The marketing environment has tow components:The marketing environment has tow components:1-Microenvironment deals with internal factors that1-Microenvironment deals with internal factors thatcan influence the company directly. The internalcan influence the company directly. The internaldecision makers within the company need to lookdecision makers within the company need to lookat the manpower, money, machinery, materials,at the manpower, money, machinery, materials,and markets that are all part of the internaland markets that are all part of the internalenvironmentenvironment2-Macro environment deals with the external2-Macro environment deals with the externalfactors outside of your company’s directfactors outside of your company’s directcontrol.control. Demographic Demographic andand Social Social trends,trends, EconomiEconomicc issues which impacts what people can afford toissues which impacts what people can afford tobuy,buy, EnvironmentalEnvironmental factors such as thefactors such as theavailability and cost of raw materials, the cost ofavailability and cost of raw materials, the cost ofenergy and levels of pollution,energy and levels of pollution, TechnologicalTechnological raterateof change, andof change, and PoliticalPolitical pressures such aspressures such aslegislation and effects from agencies like the FDA,legislation and effects from agencies like the FDA,FCC, or EPA that can stop certain marketingFCC, or EPA that can stop certain marketingmoves.moves.
  6. 6. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 6Some considerations of a company’sSome considerations of a company’smarketing program aremarketing program areconsumptionconsumption that seeks to get people tothat seeks to get people topurchase more and more,purchase more and more,customer satisfactioncustomer satisfaction that’s morethat’s moreconcerned with happy customers thanconcerned with happy customers thanpushing a product people may not like,pushing a product people may not like,choicechoice that gives many products to choosethat gives many products to choosefrom (however may be costly to thefrom (however may be costly to thecompany), andcompany), andlifestylelifestyle that focuses on improving athat focuses on improving aperson’s quality of life.person’s quality of life.
  7. 7. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 7What are the Five Marketing Philosophies?What are the Five Marketing Philosophies?1-Production concept, which is based on the fact1-Production concept, which is based on the factthat consumers favor products that are availablethat consumers favor products that are availableand affordable.and affordable.2-Product concept, which is based on ways to2-Product concept, which is based on ways toimprove the quality, performance, and features toimprove the quality, performance, and features toattract buyers.attract buyers.3-Selling concept, which places the focus on sales3-Selling concept, which places the focus on salesrather than what people actually need or want.rather than what people actually need or want.4-Marketing concept, which focuses on what people4-Marketing concept, which focuses on what peopleneed and want more than the needs of theneed and want more than the needs of theseller.seller.5-Societal marketing concept focuses around the5-Societal marketing concept focuses around theproducts benefit to the betterment of society as aproducts benefit to the betterment of society as awhole.whole.
  8. 8. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 8Market ResearchMarket ResearchMarket Research helps companiesMarket Research helps companiesunderstand and analyze their customers.understand and analyze their customers.1-1-Demographic characteristicsDemographic characteristics..2-2-Buying behaviors.Buying behaviors.3-3-Lifestyle or psychographics.Lifestyle or psychographics.4-4-Customer Satisfaction.Customer Satisfaction.
  9. 9. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 9types of market researchtypes of market research1-1-Primary market researchPrimary market research, which involves, which involvesasking questions through a survey, anasking questions through a survey, anobservational approach, or experimentalobservational approach, or experimentalapproachapproach2-2- Secondary market researchSecondary market research, which, whichinvolves checking articles in newspapers,involves checking articles in newspapers,magazines, and books.magazines, and books.
  10. 10. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 10the primary research survey questionnairethe primary research survey questionnairethese 7 stepsthese 7 steps1-1-What are the goals of the survey?What are the goals of the survey?2-2-Who will you survey?Who will you survey?3-3-How will you perform the survey?How will you perform the survey?4-4-Create the questionnaire.Create the questionnaire.-(A)--(A)-Quantitative information (closed-ended Quantitative information (closed-ended questions, YES OR NOquestions, YES OR NO ))-(B)--(B)-Qualitative informationQualitative information (open-ended(open-endedquestions )questions )5-5-Present the survey.Present the survey.6-6-Analyze the data.Analyze the data.7-7-Act on the results.Act on the results.
  11. 11. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 11Analyzing your Customers and CompetitiveAnalyzing your Customers and CompetitiveMarket StrategiesMarket StrategiesTypes:-Types:-·· Consumer market,Consumer market, that buys your goods forthat buys your goods forindividual or family use.individual or family use.·· Industrial market, Industrial market, such as manufacturers,such as manufacturers,who buy your goods for use in the production ofwho buy your goods for use in the production ofother goods that are then sold to others.other goods that are then sold to others.·· Reseller market,Reseller market, that buys your goods,that buys your goods,usually through a distributor, in order to resell orusually through a distributor, in order to resell orrent to their customers.rent to their customers.·· Government market,Government market, that purchase yourthat purchase yourgoods to carry out governmental functions.goods to carry out governmental functions.·· International market,International market, who buys your goodswho buys your goodsglobally.globally.
  12. 12. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 12Four strategies marketers use as aFour strategies marketers use as acompetitive edge, is to best determine ifcompetitive edge, is to best determine ifthey are:they are:1-1-Market leaders. Companies like Microsoft wouldMarket leaders. Companies like Microsoft wouldfall into this category.fall into this category.2-2-Market ChallengersMarket Challengers . Pepsi challenging Coke. Pepsi challenging Coke3-3-Market FollowersMarket Followers . who are happy to stay at their. who are happy to stay at theircurrent position.current position.4-4-Market Nichers. who are looking at just a fewMarket Nichers. who are looking at just a fewtarget markets and not trying to compete withtarget markets and not trying to compete withthe overall market.the overall market.
  13. 13. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 13Market Segments and Targeting yourMarket Segments and Targeting yourMarketMarketSix common segmentation strategiesSix common segmentation strategiesare:are:1-1-Geographic segmentationsGeographic segmentations2-2-Demographic segmentationDemographic segmentation3-3-Psychographic segmentationPsychographic segmentation4-4-Behavioristic segmentationBehavioristic segmentation5-5- Product segmentationProduct segmentation6-6-Sales channel segmentationSales channel segmentation
  14. 14. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 14Targeting your marketTargeting your marketThere are three potential strategies to use:There are three potential strategies to use:1-1-Undifferentiated marketing. develop one market.Undifferentiated marketing. develop one market.it looks to attract the largest segments andit looks to attract the largest segments andignores the smaller segments.ignores the smaller segments.2-2- Differentiated marketingDifferentiated marketing .develop more market..develop more market.3-3-Concentrated marketingConcentrated marketing . focuses on getting a. focuses on getting alarge share of just one or two market segmentslarge share of just one or two market segmentsThe next step would be to try and measure theThe next step would be to try and measure thecurrent market demand for the product by meanscurrent market demand for the product by meansofof total market demand, area market demandtotal market demand, area market demand,,andand actual salesactual sales andand market sharesmarket shares
  15. 15. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 15The Marketing Mix or “The 4 P’s ofThe Marketing Mix or “The 4 P’s ofMarketing”Marketing”The term “Marketing Mix” refers to a combination of manyThe term “Marketing Mix” refers to a combination of manyelements that a company uses to market its product .elements that a company uses to market its product .
  16. 16. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 16If your company is aIf your company is a manufacturermanufacturer of the product, you needof the product, you needto know:to know:· How is it going to be produced?· How is it going to be produced?· What materials and labor are needed?· What materials and labor are needed?· What R&D has been conducted and what is expected in· What R&D has been conducted and what is expected inthe future?the future?· Is there a good Q/A or Quality Assurance test plan ?· Is there a good Q/A or Quality Assurance test plan ?**If your company is providing a**If your company is providing a serviceservice, you need to, you need toknow:know:· What services do you offer?· What services do you offer?· How do they work?· How do they work?· What kind of skilled labor is needed?· What kind of skilled labor is needed?· What materials and equipment is needed?· What materials and equipment is needed?· What are the steps involved with providing this service?· What are the steps involved with providing this service?
  17. 17. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 17PricePriceHere are some basic pricing strategies:Here are some basic pricing strategies:1-1-Premium PricingPremium Pricing2-2-Penetration PricingPenetration Pricing3-3-Economy PricingEconomy Pricing4-4-Skim PricingSkim Pricing5-5-Competitive PricingCompetitive Pricing6-6-Cost-Plus PricingCost-Plus Pricing7-7-Discriminatory pricingDiscriminatory pricing8-8-Value PricingValue Pricing9-9-Promotional PricingPromotional Pricing10-10-Geographic PriceGeographic Price11-11-Pricing LeaderPricing Leader12-12-Fixed PricingFixed Pricing13-13-Variable PricingVariable Pricing14-14-Price LiningPrice Lining15-15-Customary PricingCustomary Pricing16-16-Prestige PricingPrestige Pricing17-17-Optimal ProductOptimal ProductPricingPricing18-18-Captive ProductCaptive ProductPricingPricing19-19-By-Product PricingBy-Product Pricing
  18. 18. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 18Place (Distribution)Place (Distribution)distribution strategydistribution strategy1-1-Directly to consumersDirectly to consumers2-2-Directly to retailersDirectly to retailers3-3-Directly to resellersDirectly to resellers4-4-To wholesalersTo wholesalersHow and who is going to stock yourHow and who is going to stock yourproduct.?product.?1-1-intensive distributionintensive distribution2-2-exclusive distributionexclusive distribution3-3-selective distributionselective distribution
  19. 19. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 19Here are some other ways to get your productHere are some other ways to get your productout to the marketplace:out to the marketplace:1-Through the company’s internal and external1-Through the company’s internal and externalsales force.sales force.2-Telemarketing2-Telemarketing3-Purchasing online3-Purchasing online4-Delivery and manufacture-on-demand.4-Delivery and manufacture-on-demand.5-Directly selling5-Directly selling6-Agents who do not work for the company, but6-Agents who do not work for the company, butmake commissions when they sell the product.make commissions when they sell the product.7-Internationally by means of exporting.7-Internationally by means of exporting.8-Joint marketing agreements in which your8-Joint marketing agreements in which yourcompany supplies your product to a largercompany supplies your product to a largercompany to sell.company to sell.
  20. 20. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 20The basic objective for your physicalThe basic objective for your physicaldistribution operations is to:distribution operations is to:1-Get the right products, to the right place, at the1-Get the right products, to the right place, at theright time, in good condition, for the least cost.right time, in good condition, for the least cost.2-Have a streamlined order processing method2-Have a streamlined order processing methodfrom the time the order is placed, to the time it isfrom the time the order is placed, to the time it isready to ship.ready to ship.3-Have your warehouse in the most logical, yet3-Have your warehouse in the most logical, yetleast expensive, location to deliver and receiveleast expensive, location to deliver and receivethe products on time and without having tothe products on time and without having toconstantly maneuver goods due to lack of spaceconstantly maneuver goods due to lack of space
  21. 21. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 21PromotionPromotionPromotion (Communication). This is the essencePromotion (Communication). This is the essenceof marketing.of marketing.AIDA is an acronym for:AIDA is an acronym for:1-Get1-Get AttentionAttention by using humor, color, models, etc.by using humor, color, models, etc.2-Hold2-Hold InterestInterest with a question or statement thatwith a question or statement thatmakes you think about the product.makes you think about the product.3-Arouse3-Arouse DesireDesire that makes you want the product.that makes you want the product.4-Obtain4-Obtain ActionAction that tells you what you need to dothat tells you what you need to doto get the product.to get the product.
  22. 22. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 22USP is an acronymUSP is an acronymfor Unique Selling Proposition.for Unique Selling Proposition.TheThe promotionalpromotional mix is made up of four mainmix is made up of four maintoolstools1-Advertising – (1-Advertising – (Creative messagesCreative messages ----StatementStatementmessagesmessages ----Creative and Statement messagesCreative and Statement messages ))2-Personal Selling (face-to-face communication. )2-Personal Selling (face-to-face communication. )3-Sales Promotion3-Sales Promotion4-Public Relations (PR) (TV. magazine)4-Public Relations (PR) (TV. magazine)
  23. 23. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 23People, Process, and PhysicalPeople, Process, and PhysicalEvidence (Packaging)Evidence (Packaging)People. An extremely important part of anyPeople. An extremely important part of anycompany is having the right people to supportcompany is having the right people to supportthe company’s products and/or service.the company’s products and/or service.Process. Solid procedures and policies that areProcess. Solid procedures and policies that arein place, which pertains to the company’sin place, which pertains to the company’sproducts and/or serviceproducts and/or servicePhysical Evidence/Packaging. This refers to thePhysical Evidence/Packaging. This refers to theway your product, service, and everything aboutway your product, service, and everything aboutyour company, appears from the outside.your company, appears from the outside.
  24. 24. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 24Positioning the ProductPositioning the ProductPositioning is the way a consumer seesPositioning is the way a consumer seesyour product as it compares to otheryour product as it compares to othersimilar products on the market.similar products on the market.The goal is to position the product in theThe goal is to position the product in thecustomers mind to create a certaincustomers mind to create a certainperception, impression, and feeling thatperception, impression, and feeling thatwill end up offering the greatest saleswill end up offering the greatest salespotential and hopefully surpass yourpotential and hopefully surpass yourcompetitors.competitors.
  25. 25. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 25This tool helps identify newThis tool helps identify new marketmarketopportunitiesopportunities by considering four possibleby considering four possibledirections:directions:1-Market Penetration1-Market Penetration2-Market Development2-Market Development3-Product Development3-Product Development4-Diversification, which is used to grow the4-Diversification, which is used to grow thebusiness by starting up an entirely new productbusiness by starting up an entirely new productline outside the present business.line outside the present business.·· Concentric Diversification StrategyConcentric Diversification Strategy::·· Conglomerate Diversification StrategyConglomerate Diversification Strategy::·· Horizontal Diversification StrategyHorizontal Diversification Strategy::
  26. 26. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 26The 5 C’s and Strategic Marketing BasicsThe 5 C’s and Strategic Marketing BasicsA good guideline to make the right decisions,A good guideline to make the right decisions,while constructing a marketing plan and strategy,while constructing a marketing plan and strategy,are the 5 C’s:are the 5 C’s:1-Customer –1-Customer –2-Company –2-Company –3-Competition –3-Competition –4-Collaborators –4-Collaborators –5-Context – Determine if there are any limitations5-Context – Determine if there are any limitationsdue to (due to (PoliticalPolitical --EconomicEconomic --SocialSocial --TechnologicalTechnological))
  27. 27. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 27Here are the 5 decision-making steps: willHere are the 5 decision-making steps: willlikely influence the decision-makinglikely influence the decision-makingprocess for their target market.process for their target market.1-The1-The initiatorinitiator2-The2-The influencerinfluencer3-The3-The deciderdecider4-The4-The buyerbuyer5-The5-The useruser
  28. 28. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 28The buying process consists of:The buying process consists of:1-1-Problem recognitionProblem recognition2-2-Information searchInformation search3-3-Evaluation of alternativesEvaluation of alternatives4-4-Purchase decisionPurchase decision5-5-Post-purchasePost-purchase behaviorbehavior
  29. 29. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 29Creating a Marketing PlanCreating a Marketing Plan1-1-Executive OverviewExecutive Overview (summarizes the marketing plan(summarizes the marketing planincluding a brief overview of steps 2 through 9).including a brief overview of steps 2 through 9).2-Market Review2-Market Review– Trends overviewTrends overview (How big is the potential market? Is(How big is the potential market? Isit growing? Competitors?)it growing? Competitors?)– Market segmentsMarket segments (see Market Segments and Target(see Market Segments and TargetMarket section of this lesson)Market section of this lesson)– Target marketTarget market (see Market Segments and Target(see Market Segments and TargetMarket section of this lesson)Market section of this lesson)3-Competitive Review3-Competitive Review (those who offer a similar product(those who offer a similar productwith similar attributes)with similar attributes)4-Product or Service Review4-Product or Service Review (see Products and Prices(see Products and Pricessection in this lesson)section in this lesson)
  30. 30. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 305-5-Strengths, Weaknesses, Opportunities, ThreatsStrengths, Weaknesses, Opportunities, Threats (SWOT –(SWOT –see the 5’Cs in this lesson)see the 5’Cs in this lesson)6-6-Goals and ObjectivesGoals and Objectives (describe where you want to be both(describe where you want to be bothshort-term and long-term)short-term and long-term)– Sales objectivesSales objectives ((mmeasurable in dollars, specificeasurable in dollars, specifictimetable, and expected profit)timetable, and expected profit)– Marketing objectivesMarketing objectives (i.e. increase existing(i.e. increase existingcustomers buying rate by 25%)customers buying rate by 25%)7-7-StrategiesStrategies (see the associated “P’s” segments(see the associated “P’s” segmentsthroughout this lesson along with strategic marketingthroughout this lesson along with strategic marketingdecisions)decisions)ProductProductPricingPricingPlace/DistributionPlace/DistributionPromotionPromotionPeoplePeopleProcessProcessPhysical Evidence/PackagingPhysical Evidence/PackagingPositioningPositioning–
  31. 31. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 318-8-Action Plan and ImplementationAction Plan and Implementation (such as how(such as howare you going to achieve the goals? What is theare you going to achieve the goals? What is thetimeframe or marketing calendar? What are thetimeframe or marketing calendar? What are theprojected costs? Who is doing what?)projected costs? Who is doing what?)9-Evaluation9-Evaluation (How will it all be tracked and(How will it all be tracked andmeasured?)measured?)10-Conclusion10-Conclusion (Wrap it all up. Try to make the(Wrap it all up. Try to make theoverall marketing plan as short and to the pointoverall marketing plan as short and to the pointas possible)as possible)
  32. 32. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 32Marketing vs. SalesMarketing vs. SalesMarketing generates the interest, sales brings inMarketing generates the interest, sales brings inthe money.the money.The way to find harmony within the twoThe way to find harmony within the twodepartments is making sure they constantly workdepartments is making sure they constantly worktogethertogether , truly understand each other, and are, truly understand each other, and arealways making decisions together.always making decisions together.sales tactically tries to win thesales tactically tries to win thecustomers. Marketing gets the word out, andcustomers. Marketing gets the word out, andsales helps the customers find what they want.sales helps the customers find what they want.
  33. 33. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 33Sales Types, Process, Tactics and GrowthSales Types, Process, Tactics and GrowthThe different possible sales types are:The different possible sales types are:1-·1-· Order TakersOrder Takers2-·2-· Active SellingActive Selling3-·3-· Inside SalesInside Sales4-· Outside Sales4-· Outside SalesThe sales process and tactics starts with two simpleThe sales process and tactics starts with two simplegoals; selling to current customers, and findinggoals; selling to current customers, and findingnew ones.new ones.A sales lead is the name of a person who has beenA sales lead is the name of a person who has beenidentified as a prospect. The term “sales call” canidentified as a prospect. The term “sales call” canrefer to a phone call or a personal visit.refer to a phone call or a personal visit.
  34. 34. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 34  Here are 5 ways for sales to try and Here are 5 ways for sales to try and achieve those goals:achieve those goals:1-Increase the price of the product or 1-Increase the price of the product or serviceservice2-2-Sell other products to existing customersSell other products to existing customers3-3-Sell new products to existing customersSell new products to existing customers4-4-Sell existing products to new customersSell existing products to new customers5-5-Sell new products to new customersSell new products to new customers
  35. 35. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 35The Sales Force – Size, Organizing, Training,The Sales Force – Size, Organizing, Training,Motivating & CompensatingMotivating & CompensatingThe best way to motivate the sales force isThe best way to motivate the sales force isthrough compensation. Sales are usuallythrough compensation. Sales are usuallypaid in the following three ways:paid in the following three ways:1-1-Straight CommissionStraight Commission2-2-Straight SalaryStraight Salary3-3-Salary Plus CommissionSalary Plus Commission
  36. 36. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 36Customer Relationship Management or CRMCustomer Relationship Management or CRMIt is a process or methodology used to learn moreIt is a process or methodology used to learn moreabout customers needs and behaviors in order toabout customers needs and behaviors in order todevelop stronger relationships with them.develop stronger relationships with them.Within a CRM there is software that has theWithin a CRM there is software that has thefollowing possibilities:following possibilities:1-1-Contact managementContact management2-2-Lead managementLead management3-3-Self Service eCRMSelf Service eCRM4-4-Survey managementSurvey management5-5-Customer ServiceCustomer Service6-6-Contract managementContract management
  37. 37. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 37Quick Lesson SummaryQuick Lesson Summary1-A Market is a group of customers or potential1-A Market is a group of customers or potentialcustomers.customers.2-The Marketing Department’s key responsibilities2-The Marketing Department’s key responsibilitiesis to determine the needsis to determine the needs3-Marketing needs to know how their decisions3-Marketing needs to know how their decisionscould lead to problems for other departmentscould lead to problems for other departmentswithin the company.within the company.4-Market Research helps companies understand4-Market Research helps companies understandand analyze their customers.and analyze their customers.5-There are basically two types of market5-There are basically two types of marketresearch;research; primary market researchprimary market research, which, whichinvolves surveys, observations and experimentalinvolves surveys, observations and experimentalapproaches, andapproaches, and secondary market researchsecondary market research,,which involves checking articles in newspapers,which involves checking articles in newspapers,magazines, and books.magazines, and books.
  38. 38. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 386-Four strategies marketers use as a competitive edge is to6-Four strategies marketers use as a competitive edge is tobest determine if they arebest determine if they are Market leaders Market leaders whowho  are lookingare lookingto dominate the industry,to dominate the industry, Market Challengers Market Challengers whowho  arearelooking to challenge the market leaders,looking to challenge the market leaders, Market Market FollowersFollowers who are happy to stay at their current position,who are happy to stay at their current position,andand Market NichersMarket Nichers who are looking at just a fewwho are looking at just a fewspecialized target markets.specialized target markets.7-Market Segments are parts of a market that are different7-Market Segments are parts of a market that are differentfrom one another. Six common segmentation strategiesfrom one another. Six common segmentation strategiesare Geographic, Demographic, Psychographic,are Geographic, Demographic, Psychographic,Behavioristic, Product, and Sales channel.Behavioristic, Product, and Sales channel.8-The 4 P’s of the Marketing Mix refers to the Product, Price,8-The 4 P’s of the Marketing Mix refers to the Product, Price,Place, and Promotion. They are the foundation to thePlace, and Promotion. They are the foundation to themarketing mix. There is also the 7 P’s, which includemarketing mix. There is also the 7 P’s, which includePeople, Process, and Physical Evidence (includingPeople, Process, and Physical Evidence (includingPackaging). Positioning, which is also sometimes known asPackaging). Positioning, which is also sometimes known asone of the P’s, can be part of the marketing mix as well.one of the P’s, can be part of the marketing mix as well.
  39. 39. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 399-A strategic decision companies face is to choose9-A strategic decision companies face is to choosewhether they will compete on price orwhether they will compete on price orquality. Marketing would then focus its efforts onquality. Marketing would then focus its efforts onthe results of that decision. Companies alsothe results of that decision. Companies alsocompete on service such as post-sales supportcompete on service such as post-sales supportand warranties.and warranties.10-Whenever a new product is released, 2.5% of10-Whenever a new product is released, 2.5% ofthe buyers will be the innovators, 13.5% will bethe buyers will be the innovators, 13.5% will bethe early adopters, 34% will be the earlythe early adopters, 34% will be the earlymajority, 34% will be the late majority, and 16%majority, 34% will be the late majority, and 16%will be the laggards. This tends to follow thewill be the laggards. This tends to follow theproduct life-cycle curve in which inproduct life-cycle curve in which inthethe introductionintroduction phase, the sales are slow and thephase, the sales are slow and thechallenge is finding the innovators and earlychallenge is finding the innovators and earlyadopters. In theadopters. In the growthgrowth phase, the sales rise andphase, the sales rise andthe challenge is to beat the competitors getting tothe challenge is to beat the competitors getting tothe early adopters. In thethe early adopters. In the maturitymaturity phase, salesphase, salesgrowth levels off and in thegrowth levels off and in the declinedecline phase, thephase, thesales decrease. These last two phases hold thesales decrease. These last two phases hold thelate majority and laggards.late majority and laggards.
  40. 40. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 4011-The difference between marketing and sales is11-The difference between marketing and sales isbasically; marketing sells the idea of a productbasically; marketing sells the idea of a productand/or service to everyone, whereas sales sellsand/or service to everyone, whereas sales sellsthe product and/or service one-on-one.the product and/or service one-on-one.12-The different possible sales types are Order12-The different possible sales types are OrderTakers, Active SellingTakers, Active Selling,, Inside Sales, and OutsideInside Sales, and OutsideSales. The sales force needs to be properlySales. The sales force needs to be properlyorganized, motivated and compensated in orderorganized, motivated and compensated in orderto have the right size to do the workload,to have the right size to do the workload,alignment to cover all needs, and keeping themalignment to cover all needs, and keeping themhappy and selling. A common system used byhappy and selling. A common system used bymarketing and sales to learn more aboutmarketing and sales to learn more aboutcustomers needs and behaviors, is CRM orcustomers needs and behaviors, is CRM orCustomer Relationship Management.Customer Relationship Management.
  41. 41. 12:11‫م‬12:11‫م‬ DR/Yasser Abdelmaksoud 41THE ENDTHE ENDLESSON 10LESSON 10

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