marketing process and strategy

Marketing Process

Vincent D. DeocampoIV-A BSITE

Entrepreneurship

Marketing Strategies

Overall Cost LeadershipMarket is price-elastic, and therefore, the

firm that can offer the lowest-priced product shall become the dominant product in the market. This requires a heavy emphasis on cost-cutting techniques, the implementation of quality circles in the manufacturing process, and the ability to operate on a tight profit margin.

Marketing Strategies

Differentiation

The firm must have a product that stands

out through strong positioning strategy that the market has a positive response to. Such a product will have a high perceived value, allowing the firm to charge a premium for this product.

Marketing Strategies

Focus

Seek to focus on the needs of a specific

niche in the market. Firms that specializes in the needs of minorities. Focuses on specific sector in order to gain dominance by providing a benefit that appeals to the wide market.

Forms of Selling

Personal Selling

Concerns itself with a two-way flow of communication between a buyer and a seller, often a face to face encounter designed to influence a person's or group's purchase decision.

Forms of Selling

Relationship Selling

process of building ties with the customers based on their needs over time.

Forms of Selling

Conference Selling

involves a sales person and the other company resource people meeting with the buyers to discuss problems and opportunities.

Forms of Selling

Seminar Selling

the company team conducting an educational programme for the customer's technical staff, describing the state of the art developments in the company.

Importance of Feasibility Study

Is the business will materialize?

Is it realistic?

What is the need?

Outline of Feasibility Study (Detailed)

I. Project SummaryA. Name of Enterprise

B. Location

C. Descriptive Definition of the Project

D. Project Objectives

E. Feasibility Criteria

F. Highlights of the Project

G. Major Assumptions and Summary of Findings

H. Conclusion of the Study

II. Market StrategyA. Product Description

B. Demand-Supply Analysis

C. 4 P’s Study

D. Factors Affecting the Market

E. Survey Results

F. Analysis of Data Gathered

G. Conclusions and Recommendation

III. Technical StudyA. The Product/ServiceB. Manufacturing ProcessC. Plant Size (Capacity) and Production ScheduleD. Machinery and EquipmentE. Plant LocationF. Plant LayoutG. Building FacilitiesH. Raw Materials and SuppliesI. UtilitiesJ. Waste DisposalK. Production Cost

i. Direct Materialsii. Direct Laboriii. Manufacturing Chemical

L. Plant OrganizationM. Appendices

i. Plant Layout/Equipmentii. Equipment Flow Sheetiii. Equipment listing and costiv. Utilities Calculationv. Plant Facilities breakdown of Costvi. Projected cost of Production

IV. Socio Economic Study (Normally Used for Government Projects)

A. Socio-Economic Benefits in terms of:

i. Employment and Income

ii. Taxes

iii. Supply of Commodities

iv. Demand for Materials

V. Organization and Management StudyA. Formulation of Cost and Objectives

B. Basic Considerations

C. Form of Ownership

D. Organizational Chart

E. Officers and Key Personnel

F. Project Schedule

VI. Organizational Impact Analysis

VII. Recommendation