marketing promote the business promote the business establish and adjust the marketing mix establish...
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MarketingMarketing
Promote the Promote the businessbusiness
Establish and Establish and adjust the adjust the marketing mixmarketing mix © John
Loftus
Marketing Marketing viewpointsviewpoints
Social viewpointSocial viewpoint Economic Economic viewpoint viewpoint Management Management viewpointviewpoint
© John Loftus
Social experienceSocial experience
Marketing is a social Marketing is a social experienced where experienced where two or more parties two or more parties exchange something exchange something
of value.of value.© John Loftus
Economic functionEconomic functionBusiness performance Business performance
requires efficient exchange requires efficient exchange processes and efficient processes and efficient management of scarce management of scarce
resources.resources.
© John Loftus
Management Management processprocess
Marketing Marketing management is management is the process of the process of identifying and identifying and satisfying satisfying customers’ customers’ needs, at a profit, needs, at a profit, in an ethical way.in an ethical way. © John
Loftus
Management Management orientationsorientations
Marketing Marketing orientationorientation Production Production orientationorientation Sales orientationSales orientation
© John Loftus
Marketing mixMarketing mixManagers adjust 4 key variables:Managers adjust 4 key variables:
Products and servicesProducts and servicesPlace – (channels of distribution)Place – (channels of distribution)Promotion (communication)Promotion (communication)PricePrice
© John Loftus
Target marketTarget market
An attractive group of An attractive group of buyers to target with a value buyers to target with a value proposition that is so good proposition that is so good that people will buy.that people will buy.
Buyers may be:Buyers may be: Existing customersExisting customers Prospective customersProspective customers
© John Loftus
Marketing strategyMarketing strategy
Supply Chain
MarketingCommunication
JL
ValueProposition
© John Loftus
ActivityActivity
What is marketing What is marketing really all about ?really all about ?
© John Loftus
The Marketing MixThe Marketing Mix
Adapted from Bized www.bized.co.uk
ProductProduct
Adapted from Bized www.bized.co.uk
PlacePlace
Adapted from Bized www.bized.co.uk
PromotionPromotionMarketing Marketing
communicationcommunication
Adapted from Bized www.bized.co.uk
PromotionPromotionMarketing communicationMarketing communication
Strategies to Strategies to make the make the consumer aware consumer aware of the existence of the existence of a product or of a product or serviceservice
NOT just NOT just advertisingadvertising
Adapted from Bized www.bized.co.uk
Physical EnvironmentPhysical EnvironmentBrand ImageBrand Image
Adapted from Bized www.bized.co.uk
Physical EnvironmentPhysical Environment The ambience, mood or physical The ambience, mood or physical
presentation of the environmentpresentation of the environment Smart/shabby?Smart/shabby? Trendy/retro/modern/old fashioned?Trendy/retro/modern/old fashioned? Light/dark/bright/subdued?Light/dark/bright/subdued? Romantic/chic/loud?Romantic/chic/loud? Clean/dirty/unkempt/neat?Clean/dirty/unkempt/neat? Music?Music? Smell?Smell?
Adapted from Bized www.bized.co.uk
PricePrice
Adapted from Bized www.bized.co.uk
PricePrice
Importance of:Importance of:knowing the knowing the
marketmarketelasticityelasticitykeeping an eye keeping an eye
on rivalson rivalsImage copyright: www.freeimages.co.uk
Adapted from Bized www.bized.co.uk
Marketing strategyMarketing strategy
Supply Chain
MarketingCommunication
JL
ValueProposition
© John Loftus
Blending the marketing mixBlending the marketing mix Blend of the mix depends upon:Blend of the mix depends upon: Marketing objectivesMarketing objectives Type of productType of product Target marketTarget market Market structureMarket structure Rivals’ behaviourRivals’ behaviour Global issues – culture/religion, Global issues – culture/religion,
etc.etc. Marketing positionMarketing position
© John Loftus
The marketing The marketing processprocess
Organisation mission
Market opportunity analysis
Marketing strategy
Target market
Marketing mix•product•place•promotion•price
Implementation
Evaluation
Environ-mentalscan
Marketing objectives
Adapted from Bized www.bized.co.uk
Planning roadmapPlanning roadmap
© John Loftus