What is Marketing?

Classical (narrow) definition:

Modern (broad) definition, AMA 1985:

Definition of Marketing

Marketing is the process of matching an organization’s resources with marketplace opportunities.

Marketing is delivering promised value. Marketing is creating superior value for all. Marketing is the process of identifying and establishing,

maintaining, enhancing and, when necessary, terminating, relationships with customers and other stakeholders, at a profit, so that the objectives of all parties involved are met, where this is done by a mutual giving and fulfilling of promises.

What is Promotion?

Marketing Mix

- 4 Ps for goods marketing

- 7 Ps for service marketing

Promotion (MC):

Promotion Mix/Tools

A d vertis ing D irec t m a rk eting S a les p rom otion P ub lic ity/P R P ersona l se lling

The Promotional Mix

What is IMC & Why?

a concept of marketing communications planning that recognizes the added value of a comprehensive plan that evaluates the strategic roles of a variety of communication disciplines and combines these disciplines to provide clarity, consistency, and maximum communications impact.

An Integrated Marketing Communications Planning Model

D e v e lo p in te g r a te d m a r k e t ing c o m m unic a t io ns p r o g r a m

B ud g e t d e te r m ina t io n

A na ly s is o f the c o m m unic a t io ns p r o c e ss

A na ly s is o f p r o m o tio na l p r o g r a m s itua t io n

R e v ie w o f m a r k e t ing p la n

An Integrated Marketing Communications Planning Model (cont.)

M e d ia s tr a te g y

M e ssa g e s tr a te g y

A d v e r t is ing o b je c t iv e s

A d v e r t is ing

D ir e c t m a r k e t ing s tr a te g y

D ir e c t m a r k e t ing o b je c t iv e s

D ir e c t m a r k e t ing

M o nito r , e v a lua te , a ndc o ntr o l IM C p r o g r a m

Inte g r a te a nd im p le m e ntIM C str a te g y

S a le s p r o m o tio n s tr a te g y

S a le s p r o m o tio n o b je c t iv e s

S a le s p r o m o tio n

P R /p ub lic ity s tr a te g y

P R /p ub lic ity o b je c t iv e s

P R /p ub lic ity

P e r so na l se lling s tr a te g y

P e r so na l se lling o b je c t iv e s

P e r so na l S e lling

D e v e lo p inte g r a te d m a r k e t ing c o m m unic a t io ns p r o g r a m

The Role of IMC in the Marketing Process

PromotionalDecisions

(promotionmix)

UltimateConsumers•Consumer•Business

Re-sellers

Identifying Markets

Segmen-tation

Target Selection

PositioningStrategy

Opportunity Analysis

Competitive Analysis

Target Marketing

Product Decisions

Pricing Decisions

Channel decisions

Marketing Strategy and Analysis

Target Marketing Process

Marketing Planning Program Development

Target Market

Promotion to trade

Purchase

Promotion to final buyer

Market Segmentation

Why and how do we do market segmentation?

What bases/variables could be used for market segmentation? Examples?