presentation on marketing
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Presentation On MARKETING. MARKETING MEANS. 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. - PowerPoint PPT PresentationTRANSCRIPT
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Presentation On MARKETING
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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
MARKETING MEANS
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PRODUCER/SELLER
SIMPLE MARKETING SYSTEM
CONSUMER
INFORMATION / FEEDBAK
COMMUNICATION
MONEY
GOODS/SERVICE
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To attract new customer by promising superior value, and to
keep current customers by
delivering satisfaction.
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Core Concepts of Marketing
Needs, Wants Demands Products Utility, Value &
Satisfaction
Markets Marketing& Marketers
Exchange, Transaction
Relation
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The Marketing Mix -4 Ps
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The Marketing Mix -4 Cs
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Factors Influencing Company’s Marketing Strategy
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EXTERNAL MARKETING ENVIRONMENT
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MACRO ENVIRONMENT
The macro-environment consists of those factors that the company has very little control over
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Demographic forces refers to the composition of a company's market(s) and includes whether or not this composition is likely to change. For example, the number of Hispanics as a percentage of the U.S. population is increasing and this may impact a company's sales as to whom they should target. Demographics includes: age, race, sex, income, education. Economic forces has to do with the economic conditions of the local, state, national, and international economies that can affect the firm.Natural forces includes the weather (natural disasters, for example). Technological forces include the impact that new technology can have on a firm.Political/legal forces include the political process and/or changing laws/regulations that can impact a firm.Cultural forces has to do with changing values of a culture.
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A good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want. It has a combination of tangible and
intangible attributes (benefits, features, functions, uses) that a seller offers a buyer for purchase.
For example a seller of a toothbrush not only offers the physical product but also the idea that the consumer will be
improving the health of their teeth
PRODUCT = ?
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Product Items, Lines, and Mixes
Product Item
Product Line
Product Mix
A specific version of a product that can be designated as a
distinct offering among an organization’s products.
A group of closely-related product items.
All products that an organization sells.
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THE PRODUCT LIFE CYCLEProducts often go through a life cycle. Initially, a product is
introduced. Since the product is not well known and is usually expensive (e.g., as microwave ovens were in the late 1970s), sales
are usually limited. Eventually, however, many products reach a growth phase—sales increase dramatically. More firms enter with their models of the product. Frequently, unfortunately, the product
will reach a maturity stage where little growth will be seen.
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PRICING STRATEGYMarket-Skimming Pricing
Setting a high price for a new product to skim maximum revenues layer by layer from segments willing to pay the high price.
Market-Penetration PricingSetting a low price for a new product in order to attract a large number of buyers and a large market share.
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Product Line PricingSetting price steps between product line items. Price points
Optional-Product PricingPricing optional or accessory products sold with the main product
Pricing Strategies
Captive-Product PricingPricing products that must be used with the main product
High margins are often set for suppliesServices: two-part pricing strategy
Fixed fee plus a variable usage rate
By-Product PricingPricing low-value by-products to get rid of them
Product Bundle PricingPricing bundles of products sold together
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Price Adjustment Strategies
Discount / allowance Segmented
PsychologicalPromotionalGeographicalInternational
• Types of discounts– Cash discount– Quantity discount– Functional (trade) discount– Seasonal discount
• Allowances– Trade-in allowances– Promotional allowances
Strategies
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Placement (or distribution): refers to how the product gets to the customer; for example, point-of-sale placement or retailing. This fourth P has also sometimes been called Place, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. also referring to how the environment in which the product is sold in can affect sales.
PLACE
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DISTRIBUTION Channel Level
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Marketing - Promotion Strategy
•ADVERTISING •SELLING •SALES PROMOTION•PUBLIC RELATIONS
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Marketers are focused on stimulating exchanges with customers who make up markets – B2C or B2B.
The market is comprised of people who play a series of roles: decision makers, consumers, purchasers, and influencers.
It is absolutely essential that marketers have a detailed understanding of consumers, their needs and wants.
Much happens before and after the sale to affect customer satisfaction
Marketers and Markets
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MARKETING CHALLENGES AHEAD
• MORE ETHICS AND SOCIAL RESPONSIBILITY NEEDED•THE RAPID GROWTH OF INFORMATION AND TECHOLOGY•GROWTH OF NON-PROFIT MARKETING •GLOBALISATION •RAPID GLOBALIZATION •THE CHANGING WORLD ECONOMY