TOPIC1-INTRODUCTIONTOMARKETING_31947309aab170ef82438e6f90653e96.pdf

Principle of Marketing

1. By: Dr Hanini Ilyana Che Hashim
Topic 1 :
Introduction To Marketing

2. Learning Milestone
Introduction/Get to
know
Get to know ‘The
Market’
Get to know ‘The
Product’
Carry out Market
Research
Set Market
Segmentation, Targeting
and Positioning
What is your Marketing
Strategy
How are you going to
Promote it? (Promotion)

3. What will you achieve?
Understand the definition of marketing and the key concepts as well as
philosophies
Understand the difference of Marketing and Selling
Understand the Marketing Process
Get to know the characteristics of Real Estate products;

5. Marketing is the
process by which
companies create
value for customers
and build strong
customer relationship
to capture value from
customers in return.

6. Definition of Marketing
•BritishCharteredInstituteofMarketingdefines
marketingas:-
“Themanagementprocessresponsiblefor
identifying,anticipatingandsatisfying
customer’srequirementsprofitably”
•AmericanMarketingAssociationBoarddefines
marketingas:-
“Theprocessofplanningandexecutingthe
conception,pricing,promotion,distributionof
ideas,goods,andservicestocreateexchangesthat
satisfyindividualandorganisationalobjectives.”

7. 2. Identifying
needs and wants4. Profitability
1.Management
process
3. Anticipating
Concept of
Marketing

8. 1.Management Process
•Marketing is a part of a Manager’s management responsibility
•A successful business depends on
•Financial policy;
•What the company is selling;
•To whom and why ?
Management
Process
Planning
Organizing
Leading
Controlling

9. Needs.
Economic necessities of
life
Wants
Additional goods or
services
2. Identifying Needs and Wants

10. 3. Anticipating
Sometimes, people do not
know what they want, but
the likelihood of their being
willing to buy if the good or
service was available can
be investigated.
Finding out what your
customers desire when
they themselves
can'tnamethose desires
Concept Research is
conducted to discover how
people respond to new
idea
Example : New movie
campaign / Trailer

11. 4. Profitability
•Therefore,profitabilitycanbedescribedasproducingandsellingataprofitgoodsthatsatisfycustomers.
Raw
Materials
Labor Cost
Production
cost
Distribution
Cost
Price Volume of
Sales

12. Goals of Property Marketing
Multidimensional,
blend of various
efforts to make a
name: best product,
best price, best price,
best customer
service, largest
market share, social
commitment,
creating good
reputation is
everybody’s effort in
the company
Relates to real estate
products or services
such as physical
(design, size,
neighborhood),
economic (price,
rental, burden of
repayment),
governmental
(housing regulations)
Quality is when a
product or service
meets customers
expectations), also
looks at elements
such as quantity,
range, accessibility
and cost of real
estate products and
services.
Maximization of Quality Maximization of
Satisfaction Reputation

13. Goals of Property Marketing
Can be achieved through
efficient production and
selling at prices affordable to
the target market
Competitiveness
Real Estate Market is
Oligopolistic.
Market share is used to
measure Economic strength of
a business in a market;
Also used to identify main
competitor in the market;
Successful matching of
products and services ;
Be a part of the big players
share market.
Maximization of Profit and Market
Share

14. Functions of Real Estate Marketing
•The Marketing department is the
first point of contact by any
purchaser, investor or tenant
intending a certain real estate
commodity or service.
•It is about those activities involved
in the transfer of title to goods or
delivery of service.
•Reality-very complex and needs a
good management
•Selling is a part of exchange;
Unit of sales, advertising, promotion,
sale purchase agreement etc..
•Activities that ensure smooth
performance of exchange functions
•Legal services, credit
arrangements, information; risk
bearing
•Developers have close relations
with financiers;
•Risk bearing function gives
Developer an advantage; eg.
Guarantee-period can be an
attractive post purchase service to
house buyers.
Exchange
FunctionFacilitating
function

15. Characteristics
of Real Estate
in relation to
Marketing

16. Characteristics
Immobility
Durability
Commodity is not
standardized
Legality
Market size
Length of
Marketing

17. Marketing
and Sales
Concepts

18. 18
Production
Concept
Product
ConceptSelling
Concept
Marketing
Concept
Societal
Marketing
Concept
•Consumers
favor products
that are
available and
highly
affordable
•Improve
Production and
distribution
•Consumers
favor products
that offer the
most quality,
performance
and innovative
features.
Consumers will
buy products
only if the
company
promotes/sells
these products
Focuses on
needs/wants
of target
markets and
delivering
satisfaction
better than
competitors
Focuses on
needs/wants
of target
markets and
delivering
superior value
Marketing Management Philosophies

19. 2/28/22
GoodsServices
TangibleIntangible
HomogeneousHeterogeneous
Physical entityAn activity / process
Core valueprocessed
in factory
Corevalue produced
in buyer-seller
interaction
Transfer of ownershipNo transfer of
ownership

20. How is Marketing different from Selling?
•Marketingissimplytheactof“bringingtheproducttomarket”;
•Marketingisaprocessthatinvolvesseveralstepsranging
fromgenerationofaproductideatothedeliveryofthat
producttothecustomer;moreonresearch,

21. Marketing : what is it all about?
Identifying groups or potential buyers
Finding the best way of bringing the product to customer’s
attention-advertising
Developing Marketing Message-the more closely the message
meets the needs and wants, the more chances of closing
deals/making sales
Marketing is strategic in terms of what your firm should do to
determine a client or marketplace need, and to develop strategies
to come up with the product or service to meet those needs

22. Selling: what is it all about?
Selling is the transaction where a product is transferred from the
business owner to a buyer for a price
Selling is the final steps one takes to “close a sale” convert a
prospective buyer into a customer, or “making a conversion
Selling is fine tuning the product OR service to fit our needs
exclusively
Selling if done correctly can create a lifetime of loyal
product/service users, should be done with respect, trust and
honour
Selling is what helps a consumer to decide if this product that has
been marketed to them is really what they need

23. Sales vs Marketing

24. Marketing Process
Marketing process is a series of steps that
allow organizations to
, analyze market opportunities, and
create marketing materials to reach the
desired audience.