Introduction to Marketing

Types of Products

• Consumer
• Products

• Industrial
• Products

• PRODUCTS

• Services

Some Industries - Service Sector

• Banking,
• Restaurants,
• Insurance
• News and entertainment

• Health care
• Education
• Wholesaling and retailing
• dry-cleaning

• b) Price

• Pricing strategies:

• 1. Market determines the price

• 2. Price as an expression of quality

• 3. Price as a method of gaining market share

• back

• c) Place (distribution)

• Production site

• Warehouse

• Wholesaler

• Retailer

• consumer

• back

• d) Promotion

• Aims:

• communicate with customers

• influence customers

• 4 major tools:
• Sales force
• Advertising
• Sales promotion
• Public relations

• 1. Advertising

• Presents a reason to buy a product/service

• Media:

• back

• 2. Sales promotion

• is a short-term motivation to buy a product/service

• Techniques:

• 3. two for one

• 2. loyalty reward points

• 1 price reduction

• 3. Public relations

• Does not aim to increase sales directly but tries to enhancement the image of the company

• - - community events
• charitable events

• Techniques:

• - press conferences

Analysis Of Competition

• Who are your competitors?
• What are their strengths and weaknesses?
• What have been their strategies?
• How are they likely to respond to your Marketing plan?

The Marketing Plan

• A written document that acts as a guidebook of marketing activities for the marketing manager

• CONTENTS of MARKETING PLAN

• Business Mission Statement
• Objectives
• Situation Analysis (SWOT)
• Marketing Strategy
• Marketing Mix
• Product
• Promotion
• Price
• Place – Distribution
• Implementation, Evaluation and Control

• The Marketing Process

• Business Mission Statement

• Objectives

• Situation or SWOT Analysis

• Implementation Evaluation, Control

• Target Market Strategy

• Marketing Strategy

• Product

• Promotion

• Place/Distribution

• Price

• Marketing Mix

Marketing Environment

• All the forces influencing the company’s ability to conduct business effectively with it’s target market.

Market Environment

• Includes:
• Micro-environment - forces close to the company that affect its ability to serve its customers.
• Macro-environment - larger societal forces that affect the whole microenvironment

• Company

• Demographic

• Economic

• Natural

• Technological

• Political

• Cultural

• Company

• Customers

• Intermediaries

• Suppliers

• Competitors

• Public

PEST analysis

• Political factors
• Economic factors
• Socio-cultural factors
• Technological factors

Political/legal

• Environmental protection laws
• Taxation policy
• Employment laws
• Government policy
• Legislation

Economic Factors

• Inflation
• Employment
• Disposable income
• Energy availability and cost

Sociocultural factors

• Demographics
• Distribution of income
• Social mobility
• Lifestyle changes
• Levels of education

Technological

• New discoveries and innovations
• Speed of technology transfer
• Internet
• Information technology