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Marketing Mix and Sale
promotionBehshad Mehrabi
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Agenda
Marketing management basic concepts
How to build Marketing Plan
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Simple Business System
Industry(a collection
of sellers)
Market(a collection
of Buyers)
Goods/services
Money
Communication
Information
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What is Marketing…??Selling?Advertising?Promotions?Making products available in stores?Maintaining inventories?
All of the above, plus much more!
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Marketing = ?
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals
American Marketing Association
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Who is a Customer ??
Anyone who is in the market looking at a product / service for attention, acquisition, use or consumption
that satisfies a want or a need
CUSTOMER IS . . . . .
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Customer –
CUSTOMER has needs, wants, demands and desires
Understanding these needs is starting point of the entire marketing
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Market Segmentation
nations, states, countries, or even neighborhoodsGeographic
Demographic
Psychographic
behaviorist
age, sex, family size, education,income, social and race
personality and/or lifestyle like activities, interests, and opinions
degree of use (heavy versus light), and/or brand loyalty
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Scope – What do we market Goods Services Events Experiences Personalities Place Organizations Properties Information Ideas and concepts
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Anything that is offered to the market for attention, acquisition, use or consumption that
satisfies a want or a need
Product is . . . . .
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Types of Products
ConsumerProducts
IndustrialProducts
PRODUCTS
Services
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Push vs. pull strategy
Producer Wholesaler Retailer Consumer
Producer Wholesaler Retailer Consumer
PUSH STRATEGY
PULL STRATEGY
Product flow Promotion effort
9-10
Product flow
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Product lifecycleThe product lifecycle looks at the
sales of a product over timeLaunch – high expenditure on
promotion and product development, low sales.
Growth – sales increase and product should break-even
Maturity – sales stabilise, less expenditure on promotion needed, revenue & profit should be high
Decline – sales decline, extension strategies can be adopted or the product withdrawn
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The BCG Matrix
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The 4 Ps & 4Cs
MarketingMix
Product
Price Promotion
Place
CustomerSolution
CustomerCost
Communication
Convenience
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Marketing Mix of GM
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Product‘Product’ refers to the functions and
features of a good or serviceShould satisfy the needs of the customer‘Product’ also includes a range of factors
such as packaging quality warranties after-sales service branding
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Extension strategies
Extension strategies should maintain or increase sales. They include:
Modifying the productReducing the priceAdding a featurePromoting to a
different market sector
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Pricing Strategies
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Price leaders and takers
Price leader – businesses that dominate the market can often dictate the price charged for a product. Other businesses follow this lead.
Price taker – businesses have to charge the market price. This is often the case where there are many small firms competing against each other.
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Place
Products should be conveniently available for customers to buy
‘Places’ include:StoresMail orderTelesalesInternet
The use of e-commerce
(promoting and selling on the internet) has
grown massively over the last few years
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Channels of distribution
Manufacturers
Wholesaler
Retailer
Consumer
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What is a promotion?
Promotion is the element in an organisation’s marketing mix that serves to inform, persuade and remind the market about the organisation and/or its products.
9-1
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Goals and Tasks of Promotion
Informing Reminding
Persuading
TargetAudience
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Goals and Tasks of Promotion
Informing Reminding
Persuading
TargetAudience
PLC Stages:Introduction Early Growth
PLC Stages:Growth Maturity
PLC Stages:Maturity
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The Promotional Mix
Combination of promotiontools used to reach the target market and fulfill the organization’s overall goals. Advertising Public Relations Sales Promotion Personal Selling
PromotionalMix
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The Promotional Mix
Impersonal, one-way mass communication about a product or organization that is paid for by a marketer.
Advertising
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Advertising MediaTraditional Advertising Media
NewAdvertising
Media
Television Radio Newspapers Magazines Books Direct mail Billboards Transit cards
Internet Banner ads Viral marketing E- mail Interactive video
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AdvertisingAdvantages Disadvantages
Reach large number of people
Can be micro-targeted
Total cost is high
National reach is expensive for small companies
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Public Relations
The marketing function thatevaluates public attitudes, identifies areas within the organization that the public may be interested in, and executes a program of action to earn public understanding and acceptance.
Public
Relations
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The Function of Public Relations
Maintain a positive image Educate the public about the company’s
objectives Introduce new products Support the sales effort Generate favorable publicity
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Sales Promotion
Marketing activities—other than personal selling, advertising, and public relations—that stimulate consumer buying and dealer effectiveness.
Sales
Promotion
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Sales Promotion
consumer
Trade Customers
sampling
Contests
Premiums
Trade Shows
price deals
Coupons
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Personal Selling
Planned presentation to one or more prospective buyers for the purpose of making a sale.
Personal
Selling
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Personal Selling
Traditional Selling
Relationship Selling
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Agenda
Marketing management basic concepts
How to build Marketing Plan
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Strategic Marketing management
Strategic marketing management is concerned with how we will create value for the customer
Asks two main questions What is the organization’s main activity at a
particular time? – Customer Value What are its primary goals and how will these be
achieved? – how will this value be delivered
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Marketing Plans
ANALYSISOBJECTIVESSTRATEGIESTACTICSCONTROLS
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Factors Influencing Company’s Marketing Strategy
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Strategic Planning
Strategic Planning is the managerial process of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities.
Also called Strategic Management Process All organizations have this Can be Formal or Informal
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Business Strategic-Planning Process
External environment
(Opportunity &
Threat analysis)
Internal Environment
(Strength/ Weakness analysis)
Goal FormulationBusiness Mission
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The Marketing Process
Business Mission Stateme
nt
Objectives
Situation or SWOT Analysis
Implementation Evaluation,
Control
Target Market Strategy
Marketing Strategy
Product
Promotion
Place/Distribution
Price
Marketing Mix
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Thank you!