Principles-of-Marketing-Chapter-1.pptssx

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1. PRINCIPLES OF

2. CHAPTER 1 MARKETING PRINCIPLES AND STRATEGIES Lesson 1: Marketing and its Traditional Approaches

3. WHAT IS MARKETING ?

4. is a form of communicating or promoting the VALUE of a product, service or brand to the consumers.

5. Marketing “ The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organization goals.” American Marketing Association

6. In summary, marketing is Creation Communication Delivery of value to customers

7. Core Marketing Concepts

8. 1. NEEDS A human need is something that a person must have in order to live and survive.

9. Maslow’s Hierarchy of Needs

10. 2. WANTS A human want is something that a person desires to have.

11. 3. DEMANDS Demands are also human wants that are supported by buying power.

12. 4. EXCHANGE Marketing occurs when the buyer and seller trade something of equal value. Both the buyer and the seller have gained something that satisfied their unmet needs.

13. 5. MARKET The market is composed of people with both desire and ability to buy a product or service.

14. PARTICULARS NEEDS WANTS Hunger Food Fashion Wear Clothing Infection Antibiotics Shelter Housing Thirst Be ver age Water Milk Transportation Vehicle

15. PARTICULARS NEEDS WANTS Recreation Sports Entertainment Television, radio, DVD/Discs, Casinos Education School Seminars Course Security Insurance Interment Memorial services

16. SCOPE OF MARKETING

17. 1. GOODS Physical goods comprise the volume of most countries’ production and marketing effort.

18. 2. SERVICES as economies progress, a growing proportion of their activities are concentrated on the production of services.

19. Through organizing a number of services and goods, one can generate, stage, and market experiences. 3. EXPERIENCES

20. Marketers endorse time-based events . 4. EVENTS

21. 5. PERSONS celebrity marketing has turn into a main and popular business.

22. 6. PLACES Place marketers consist of economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies.

23. 7. PROPERTIES Properties are intangible rights of ownerships of either real property.

24. organizations aggressively labor to create a strong, positive image in the mind of their publics. 8. ORGANIZATIONS

25. 9. INFORMATION The production, packaging, and distribution of information is one of society’s chief industries.

26. 10. IDEALS Each market offering has a fundamental idea at its core.

27. TRADITIONAL APPROACHES TO MARKETING

28. Traditional concept marketing is a marketing strategy a company uses to determine if it can produce a viable product consumers want or need, whether the company can produce enough products to fill the need, and the marketing method by which the need can be filled.

29. SEVERAL DISTINCT TRADITIONAL APPROACHES Production concept focuses on the internal potentials of the company and not based on the desires and needs of the market. Sales concept refers to the idea that people will buy more goods and services through personal selling and advertising done aggressively to push them in the market. Marketing concept a philosophy which states that organization must try hard to find out and satisfy the needs and wants of consumers while at the same time accomplishing the organizational goals. Relationship concept/marketing an approach that centers on maintaining and improving value- added long-term relationships with current customers, distributors, dealers and suppliers. Societal Marketing Concept views that organizations must satisfy the needs of consumers in a manner that gives for society’s benefit.

30. CHAPTER 1 MARKETING PRINCIPLES AND STRATEGIES Lesson 2: Goals of Marketing

31. Goals are different from objectives Marketing goals are statements of what results the company wants to achieve with its marketing efforts. Just like any other goal, marketing goals should be clear. Goals must be credible and realistic as well

32. GOALS ARE DIFFERENT FROM OBJECTIVES. GOALS top-level broad goals to show how the business can benefit from channels . So, goals are the broad aims used to shape strategy. They describe how marketing will contribute to the business in key areas of growing sales, communicating with audience and saving money. MARKETING OBJECTIVE Specific SMART objectives to give clear direction and commercial targets. Objectives are the SMART targets for marketing which can be used to track performance against target. The SMART mnemonic helps as a test or filter which the firm can use to assess the quality of measures .

33. the detail in the information sufficient to pinpoint problems or opportunities; the objective sufficiently detailed to measure real- world problems and opportunities. a quantitative attribute to be applied to create a metric. A quantitative attribute to be applied to create a metric. the information be applied to the specific problem faced by the marketer. objectives be set for different time periods as targets to review against.

34. Key performance indicators (KPIs) are used to check that the marketing activities of a company are on track. KPIs are specific metrics which are used to track performance to make sure the firm is on track to meet specific objectives. They are sometimes known as performance drivers or critical success factors for this reason.

35. DEVELOPING MARKETING GOALS GOALS MUST BE: ATTAINABILITY Goals must be realistic so that important parties who will be reaching must s e e eac h g o al as reasonable. CONSISTENCY M anagement should exert to set goals that are c o n s i s t en t wi t h o n e another. COMPREHENSIVENESS t h e p ro c es s of go al -se t t in g m u s t b e comprehensive. Simply it means that each functional area must be able to formulate its own goals that relate to the organization’s goals. INTANGIBILITY planners often confuse goals with strategies, objectives and even tactics. A goal is not an action the firm can take, it is an outcome of the organization wishes to realize.

36. GOALS OF MARKETING Examples of noteworthy marketing goals: Identifying the target market Increasing sales and profits Increasing brand awareness Increasing market share Countering competitive strategies Reputation Increasing distribution channels

37. GOALS OF MARKETING Understand the market and its consumers, and satisfy their changing needs and wants. Introduce and innovate products and services that improve human condition and the quality of life. Design and implement effective customer- driven marketing strategies.

38. GOALS OF MARKETING 4. Develop marketing programs that deliver superior value to consumers. 5. Build and maintain mutually beneficial and profitable customer relationships. 6. Capture customer value to create profits . 7. Promote value transactions with full regard to the well- being of societies.

39. CHAPTER 1 MARKETING PRINCIPLES AND STRATEGIES Lesson 3: Contemporary Approaches to Marketing

40. Not-For-Profit Organization Marketing A not-for-profit organization is a type of organization that does not aim for earning profit for its owners. The money earned by not-for-profit organization is allocated for pursuing the organization’s objectives.

41. Characteristics of a not-for-profit organization Generate as much revenue as possible to support their causes Compete with other orga n i z at i ons for donors’ pesos Often possess some degree o r monopoly power in a given geographic area Market to multiple publics

42. PERSON MAR K ETING Person marketing entails endeavors aimed at cultivating the attention, interest and preferences of a target market toward a celebrity or authority figure.

43. PLACE MARKETING Place marketing or place branding attempts to exert a pull customers to particular areas. Place marketing is used to attract tourist and showcase the beautiful spots in different cities, provinces, and regions. Place marketing is also used to promote sites that can be a nice choice for putting up a business.

44. CAUSE MARKETING Cause marketing is the recognition and marketing of a social issue, cause or idea to the target markets. Cause marketing increases the awareness of issues such as literacy, physical fitness, child obesity, and environmental protection, elimination of birth defects, child-abuse prevention and preventing drunk-driving.

45. There are some guidelines to consider before creating a cause marketing campaign. UNDERSTAND MARKETING before a firm create a cause ma rk e t in g, it ne ed s to understand first the essential e l e me nts of ma rk etin g t o i t s specific target audience. MAINTAIN TRANSPARENCY if the firm wants consumers to join its cause, it has to make it easy and transparent for them to do so. THINK MAI N S TRE A M the majority of the firm’s patr o n s ho uld s u pp ort the effort of its supporting. SUPPORT REPUTATION CAUSES Support reputable causes – if the company is going to give large amounts of money, resources or time to a philanthropic cause, it must first do its homework. The organization must choose the right charity to give help to and check its every detail. » STAY CONSISTENT it is best for the company if it is going to be generous in one charity for long time to be predictable in the eyes of the consumers.

46. is the sport, culture and charity activities to selected target markets. it consists of different sponsors from different companies to support such activities and also serves as public awareness.

47. Essential features of event marketing: Wide range of events – event marketing encompasses a wide range of event types: Mega events and local events, Exhibitions, Trade shows, Publicity stunts, Themed and created events, Corporate entertainment, Award ceremonies.

48. Goal oriented Effective promotion and communication – it is important to get the message to the target audience clearly. Proper evaluation – it is necessary for the team to be able to evaluate the event/project to be more effective and efficient the next time. Feedback from clients Location – this is the most important aspect as the location of the event should be accessible and should be near important areas.

49. Green marketing refers to the process of selling products and/or services based on their environmental benefits. Company are selling products and/or services by first promoting its benefit that is environmental friendly or produced in an environmentally friendly way.

50. F or green marketing to be effective, there are three things that needs to be done: Being genuine The company is actually doing what it claims to be doing in its green marketing campaign and The rest of the business policies are consistent with whatever the firm is doing that’s environmentally friendly. Educating the customers isn’t just a matter of letting people know that the company is doing whatever its doing to protect the environment, but also a matter of letting them know why it matters. Giving customers an opportunity to participate means personalizing the benefits of the company’s environmentally friendly actions, normally through letting the customer take part in positive environmental action.

51. THANK YOU!