marketing and advertising lecture 2. what is marketing? the process of planning and executing the...
Post on 18-Dec-2015
219 views
TRANSCRIPT
![Page 1: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/1.jpg)
Marketing and Advertising
Lecture 2
![Page 2: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/2.jpg)
What is Marketing?
The process of planning and executing the conception , pricing, promotion and distribution of ideas, goods and services to fulfill/satisfy the needs and wants of consumers and the organisation.
![Page 3: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/3.jpg)
Marketing vs. Advertising
Marketing: The process by which goods and services are introduced to the selected market. Perception of a good or service is vital for a marketing strategy.
Advertising: Persuasive presentation of a good, idea or service.
![Page 4: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/4.jpg)
Types of Market
Consumer Market Business to Business Markets Institutional Markets Reseller Markets
![Page 5: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/5.jpg)
The Marketing Mix
PRODUCT PLACE PRICE PROMOTION
Quality Features Options Style Brand Name Packaging
Distribution Channels Coverage Locations Inventory Transportation
List price Discounts Allowances Payment period Credit terms
Advertising Copy & Art Media Personal Selling Sales PR Direct Mktng Integrated Mktng Event Mktng Local-area Mktng
![Page 6: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/6.jpg)
Elements of market approach
Market Segmentation: Selecting a group of people of similar characteristics who are most likely to respond to the product/service. E.g. Target Market
Product Differentiation: Setting the product apart from its competitor via pricing, packaging or promotion.
Positioning: The ‘place’ by which a product/service occupies.
![Page 7: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/7.jpg)
Marketing Concept
Where emphasis is placed on satisfying the needs and wants of consumers through the product/service, rather than focusing on selling the product/service.
![Page 8: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/8.jpg)
Integrated Marketing Communications
A planned holistic approach that combines a series of linked yet varied marketing channels (mediums and/or vehicles) to deliver and maintain a message.
The integrated approach influences all marketing decisions and is most effective in satisfying the needs,wants and goals of both the consumer and advertiser.
![Page 9: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/9.jpg)
Basic elements of IMCs
Advertising:Set attention to the existence of a product/service.
Personal Selling: Face-to-face contact between the marketer and a prospective customer.
Sales Promotion: Generate immediate sales for a limited period of time.
![Page 10: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/10.jpg)
Basic elements of IMCs (contd.)
Public Relations: Maintains the perceived image,relationship and publicity of the product.
Direct Marketing: Allows the consumer to purchase the product directly.
Point-of-sale/Packaging: Attempt to drive sales at the place where the product is sold.
![Page 11: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/11.jpg)
Relationship Marketing
Process of maintaining and enhancing relationships with key consumers to endow brand loyalty through personal attention.
![Page 12: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/12.jpg)
Branding The process where a product is identified through a
design, name or symbol that bests describe it.
A brand name is the part of the brand that is identified through words, letters or numbers.
A trademark is a patented brand name or brand mark.
Brand equity refers to the reputation and/or brand value of the product or service.
![Page 13: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/13.jpg)
Examples of strong brands
![Page 14: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/14.jpg)
Short history on Branding When shipping goods, barrels where embedded with
the ship’s insignia. First product to be trademarked was the British ‘Bass
beer’ James Walter Thompson initiated the concept of
branding in an early advertisement to what was then called ‘trademark advertising’.
Leo Burnett best developed branding through the use of mascots such as his famous Jolly Green Giant, the Marlboro Man, Toucan Sam, Charlie the Tuna, Morris the Cat, the Pillsbury Doughboy, the 7up "Spot", and Tony the Tiger.
![Page 15: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/15.jpg)
Packaging
A marketing tool whereby it is much more than a container, but carries forward the message of the product.
![Page 16: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/16.jpg)
Elements of good packaging
Attractive Design reflects the brand image and
delivers advertising messages Functionality Fulfills the criteria of the advertising
message.
![Page 17: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/17.jpg)
Channels of distribution
People and institutions that move products from producers to consumers make up the channels of distribution.
![Page 18: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/18.jpg)
Types of distribution
Direct Marketing: Delivers the message directly to the consumers without the need of intermediaries.
Indirect Marketing: Distributed through more than one reseller.
Cooperative Advertising: Where the producers and wholesalers cooperate in the advertising cost and process.
![Page 19: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/19.jpg)
Pull and Push Strategy
Pull Strategy: Directs marketing efforts to the consumers and pulls the product through the channel. E.g. coupons, rebates, free samples and sweepstakes.
Push Strategy: Directs marketing efforts at resellers, whom in turn push the product through advertising to the consumers.
![Page 20: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/20.jpg)
Types of Agencies
Full service: Includes all four major functions; account management, creative, media planning and buying, and account planning.
Specialized: Specializes in certain functions
Industry-focused: Concentrate on certain fields of the industry.
![Page 21: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/21.jpg)
Types of Agencies (contd.)
Minority agencies: Focus on ethnic groups.
Creative boutiques: Small ad agencies focused only on the creative process.
Media-buying services: Purchase of media.
Virtual agencies: Hire freelancers to perform tasks online.
![Page 22: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/22.jpg)
Organisation of an agency Account Management: Ensures that the agency fulfils
the client’s needs
Creative Development & Production: Where the creative process is conducted and executed.
Account Planning and Research: Conduct market research and analysis.
Internal Services: Traffic department, print production, financial services and human resources or personnel
![Page 23: Marketing and Advertising Lecture 2. What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas,](https://reader037.vdocuments.site/reader037/viewer/2022103022/56649d265503460f949fce9c/html5/thumbnails/23.jpg)
Components of an Advertisement
Art direction: Determining the visual execution/layout of advertisement.
Copywriting: The text/words involved in illustrating the creative concept of an advertisement.