WHAT IS MARKETING? Marketing is a Process of communicating the value of

product and service to a customers, for the purpose of selling that product or service.

From a social point of view , marketing is a link between a society’s material requirements and its economic patterns of response.

Goal-Attracting new customers by promising superior value

Keep growing current customers by delivering satisfaction

WHAT IS MARKETED? Goods-Physical goods produced ,manufactured or mined. Services-This involves performing some services for the

customers. Events-Time based shows as new year celebration, sporting

event etc. Experiences-It results from the combination of product and its

services. Persons-Like a celebrity or a candidate in public election. Places- Like cities, states and nations for purposes as attracting

tourism. Properties-Properties like real estate etc. Organizations-This basically refers to building a positive image

of organization such as companies, universities etc. Information And Ideas-Books are the traditional means of selling

information. Apart from them are intelligence, mailing list, statistics etc. Ideas include promotions, advertizing ideas etc.

DIFFERENCE BETWEEN SALES AND MARKETING

Many people think that sales and marketing are basically the same. But these two concepts are different in many aspects.

Marketing covers advertising, promotion, public relations and sales. It is the process of introducing and promoting the product in the market and encouraging sales from buying public.

Sales refers to the act of buying or the actual transactions of customers purchasing the product or services.

SIGNIFICANCE AND ADVANTAGE

Benefits to firm

Marketing Builds Companies reputation.

Marketing helps in boost product sales.

Marketing helps in planning and decision making.

Marketing is a source of new ideas.

Benefits to society

Marketing promotes product awareness to the public.

It provides employment It stabilizes the economic

conditions It Increases National

Income

MARKETING PROCESS Understand market place, customers needs and

wants. This can be done with market research.

Design customers marketing strategy.

Construct an integrated marketing program by delivering superior value.

Building profitable relationships. This can be done by marketing management.

Capture value from customers to create profit and customers quality.

MARKETING RESEARCH Marketing Research is a function which links the

consumer, customer and the public to the marketer through information for the purpose of-

Identify and define market opportunities and problem. Evaluate and Monitor marketing performance

It is a systematic gathering, recording and analysis of qualitative and quantitative data about issues relating to marketing product and services. The goal of marketing research is to identify and access how changing elements of the marketing mix impacts customers behavior.

Marketing Research

Target market

Consumer Market

Research

Business to Business Market

research

Methodological Approach

Qualitative Marketing Research

Quantitative Market Research

Goal- To provide relevant, accurate, valid and timely information data to facilitate decision making.

MARKETING STRATEGY A Marketing strategy is an overall plan of marketing

actions you intend to take in order to accomplish a specific goal of your company.

Marketing strategy is the goal of increasing sales and achieving a sustainable competitive environment.

STRATEGIC MARKETING PLAN

Environmental Analysis Identifying Customers Competitor Analysis Marketing Mix : The 4 P’s Financial Analysis Implementation

ENVIRONMENTAL ANALYSIS Environmental Analysis is about knowing your market

place or to know who you are selling to. Knowing your Marketplace refers to SWOT (strength,

weakness opportunities and Threats.)

IDENTIFYING CUSTOMERS Identifying Customers refers understanding customers

minds, their needs and their problems.

COMPETITION ANALYSIS Understanding the competitor (SWOT) Make sure you are distinctively different in area of

importance to your Customers

THE MARKETING MIX

The controllable, tactical marketing tools that the firms blends to produce the response it wants in the target market. It involves

Product-Brand name, quality design, service Price-List price, credit terms, payments

periods allowances Place-Distribution channels, transports,

logistics Promotion- Advertizing, Sales Promotions,

Public relations and sellings

FINANCIAL ANALYSIS

Financial Analysis can be used to serve many purposes in an organization but in the area of marketing it has four main functions-

To gauge how well marketing strategy is working

To evaluate marketing decisions alternative To develop plans for future To control activity on short term day to day

basis.

IMPLEMENTATION

Making Decision Focus attention on every one on delivering

what the customers want.