MARKETING: Function, Guide and Example

A topic presented during the seminar-workshop on feasibility study held at Capitol University AVR room Graduate School.
The slideshow is a product of research taken from internet and various reference. I do not own all the ideas presented, I quoted it from various experts and authors in the field of marketing and entrepreneurship.

1. MARKETING: FUNCTION, GUIDE AND EXAMPLE A TOPIC PRESENTED DURING THE SEMINAR WORKSHOP ON FEASIBILITY STUDY HELD AT AVR ROOM GRADUATE SCHOOL CAPITOL UNIVERSITY CAGAYAN DE ORO CITY, PHILIPPINES BY: VENUS B. MORALES, DM RESOURCE PERSON

2. MARKETING PLAN GENERAL OBJECTIVES: Discuss the nature and importance of the marketing function in an enterprise . Explain the various items in a marketing plan. Write your individual group’s marketing plan for the identified project idea. LESSONS Lesson 1 – The Marketing Function of an Enterprise Lesson 2 – Marketing Plan: Guide and Example

3. SPECIFIC OBJECTIVES: Explain Marketing, Marketing Management and Marketing Strategy; Identify and Explain the responsibilities of the marketing manager, and, List down and discuss the variables in marketing mix Discuss the major steps in developing the firm’s marketing strategy. LESSON 1- THE MARKETING FUNCTION OF AN ENTERPRISE

4. 1. MARKETING GOODS AND SERVICES

5. a  good  is something that is intended to satisfy some  wants  or  needs  of a consumer  and thus has economic  utility . a  service  is an intangible  commodity . More specifically, services are an intangible equivalent of  economic goods . Market- refers to the consumers and customers for the goods and services produce by the enterprise. Marketing – may be defined as all activities involved in providing customer satisfaction by facilitating the exchange of goods and services from where they are produced by the ultimate consumers. Market Demand- exists when there are buyers for the product in which products are made because there is a market that needs or wants them. Marketing Management- is a business discipline which is focused on the practical application of  marketing  techniques and the management of a firm's marketing resources and activities.  Marketing managers- are often responsible for influencing the level, timing, and composition of customer demand. The managers has the responsibility of analyzing and interpreting the consumer/customer needs and wants after which he prepares the projected demand for the firm’s products and services for a given period. Marketing concepts

6. Consumer- is the one who uses the product. Customer- is the one who buys the product. “The customer and the consumer may be the same person. However, it is also possible that the customer is different from the consumer”. An entrepreneur who wants to understand his market must first understand man’s motivation for buying a particular product or products. Understanding the consumer and customer

7. THE MASLOW TRIANGLE

8. Buying behavior

9. The market can be classified according to: Income: High, Middle, Low Age: Infants (1 day to below 2 yrs. Old) Pre-schoolers (2-6 yrs. Old) Grade Schoolers (7-12) Young professionals (20-39) Adult professionals (40-59) Senior Citizens (60 and above) 3. Sex – Male/female 4. Educational Attainment- no education, elementary, high school, college, college graduate 5. Socio-cultural background – according to race or ethnic background, religion, etc. 6.Geographical Location – rural, urban, town, province, region, other specific location 7. By occupation- farmers, teachers, bank executives, musicians, engineers, etc. In what way will the market segmentation help in marketing activities? 2. MARKET SEGMENTATION

10. 3. VARIABLES IN THE MARKETING MIX

11. PRODUCT

12. 3 basic method: 1. Cost-oriented pricing- All cost are added and divided by the number of products made in order to arrive at the cost per unit produced. To illustrate, if it costs P40 to make 20 balloons, then the cost per balloon is P2 (40/20). Assuming a 20% mark-up, each balloon should be sold at P2.40 2 different pricing techniques under this method: 1. Cost-plus (as in above illustration) 2. Break-even technique TOTAL COST= TOTAL SALES Price - is the value placed on goods and services offered to the public.

13. This approach is based primarily on how many buyers want or demand the product. A high price when demand is strong, low price when demand is weak. An unsuspecting buyer maybe charged a higher price while a hesitant buyer maybe given a lower price. Competition-oriented pricing Pricing is based chiefly on what his competitors are charging, this does not mean that it charges exactly the same price as the competitors do but rather it keeps its price constantly higher or lower than competition by certain percentage. Other pricing strategies -dictated by the type of target market -price structure Demand-oriented pricing

14. Loss-leader pricing - here a low price is set for the most popular item hoping to attract many buyers who are expected to buy other goods in the store. Psychological pricing - is pricing an item a few centavos below a whole price to give semblance of a discount or savings. Buy-one take-one - gives also an impression of a bargain purchase. Target-earnings pricing -a firm sets the price for its products according to the price that would give the desired earnings or sales. Other Pricing Strategies

15. PLACE OR CHANNELS OF DISTRIBUTION

16. 4. MARKETING STRATEGY

17. STEPS IN THE MARKETING STRATEGY

18. DIFFERENCE BETWEEN SELLING AND MARKETING

19. GUIDE AND EXAMPLE LESSON 2- MARKETING PLAN:

20. What is the product? How does it compare in quality? In price with it’s competitors? Where will the business be located? What geographical areas will be covered by the project? Within the market area, to whom will the business sell it’s product? Is it possible to estimate how much of the product is currently being sold? 6.1 Market survey checklist 6.1.1 Wholesalers’/Importers’ checklist 6.1.2 Retailers’ checklist 6.1.3 Customers’ or consumers 'checklist MARKETING PLAN:GUIDE

21. 7. What share or percent of this market can be captured by the business? 8. How much of the product will be sold? 9. What is the selling price of the product? 10. What promotional measures will be used to sell the product? 11.What marketing strategy is needed to ensure that sales forecasts are achieved? 12. How much do you need to promote and distribute your product? Note: Analyze your proposed product/service answering the 12 guide questions.

22. Description of the product Comparison of the product with its competitor Location Market Area Main Customer Total Demand Market Share Selling price Sales forecasts Promotional measures Marketing strategy- Product, Price, Promotion Distribution Marketing Budget MARKETING PLAN: EXAMPLE

23. THE END