1. Marketing objectives and strategy LO: To know what marketing objectives are and how the can be different

2.  It’s not just advertising  It’s not just promoting  Marketing is identifying and satisfying consumer needs.  Who does Nintendo target? What is marketing?

5.  A goal or target to achieve that will steer the direction of the business  SMART What are marketing objectives?

6.  Increasing sales – to increase sales from 150,000 to 200,000 in the next 6 months. Particularly important when the business has high fixed costs Examples of marketing objectives

8.  Medium to long term plan for achieving the marketing objectives  Can be done by following POISE (p.118 to complete) Effective marketing strategy P ProfitableA proper balance between the firm’s need for profit and the customer’s need for value O Offensive I IntegratedThe marketing approach must flow through the whole company, from directors to telephonists S Strategic E Effectively executed Strong and disciplined teamwork in carrying the strategy through effectively

9.  Medium to long term plan for achieving the marketing objectives  Can be done by following POISE Effective marketing strategy P ProfitableA proper balance between the firm’s need for profit and the customer’s need for value O OffensiveGet on the attack, leading the market, taking risks and force competitors to be followers I IntegratedThe marketing approach must flow through the whole company, from directors to telephonists S StrategicProbing analysis of the market and your competitors leading to a winning strategy E Effectively executed Strong and disciplined teamwork in carrying the strategy through effectively

10.  Watch the advert  http://www.youtube.com/watch?v=sKhLAjCoDPk http://www.youtube.com/watch?v=sKhLAjCoDPk  Who is it targeting ? Wii….

11.  When the Wii was introduced  Made it appeal to all markets  Brain training for older people  Nintendogs for younger people  Games for families  Sales doubled between 2006/7 and 2008/9.  It identified opportunities to widen the target market Effective marketing by Nintendo

12. Marketing and brand image

13.  Identifying the target market  Segment markets  Market – orientated marketing  A coherent brand image What do you think each of these things are? Characteristics of effective marketing

14.  http://www.youtube.com/watch?v=uq5ptPg6LaI http://www.youtube.com/watch?v=uq5ptPg6LaI  Outline some things Virgin needs to do before it invests billons in Space travel technology…  Who is their target market? Virgin entering a new market

15.  New market – aim at everyone who can afford it  Later competitors arrive and so you have to focus on one part of the market  You need to know and understand your market – what do they want and why  Can be found out by doing focussed market research  Advertising spend can be focussed on the market only and so not wasting money Identifying the target market

16.  The market can be split into different categories, age, gender, income etc.  Products need to be aimed at different market segments as everyone has different wants  Example SKY TV who sell different TV packages such as sports, kids etc Segment markets

17.  The customer is central in the decision making  They help the business to design and make products that they want to buy  Different to product-orientated marketing which is about the making of the product, cutting costs and being efficient, sales of these products is usually quite forceful with sales people receiving commission as an incentive Market-Orientated marketing

18.  http://adage.com/article/agency-news/bmw-gears- campaign-kbs-p/231948/ http://adage.com/article/agency-news/bmw-gears- campaign-kbs-p/231948/  http://www.youtube.com/watch?v=6xjtEYv56sE http://www.youtube.com/watch?v=6xjtEYv56sE What approach does BMW do to marketing

19.  This uses the marketing mix to make sure that everything to do with the product fits together  The brand image would be shown in all of the marketing mix and be suitable for the target market  The brand image should be decided  before you do anything else in  marketing Coherent brand image

20.  Often happens when decisions are made in the short term with no long term plan  Can be where businesses set high prices, this exploits customer loyalty and can eventually send them away. Example is Chelsea football club and high ticket prices  Sales driven marketing is where employees are set targets and rewarded financially, this creates a ruthless and dishonest culture. Happen in banks where staff were encouraged to miss sell finance Ineffective marketing

21.  http://www.youtube.com/watch?v=g0OzSpzYe6I http://www.youtube.com/watch?v=g0OzSpzYe6I  Watch video  Read case study  Complete questions Case study Adidas

22.  Read the case study for Wimbledon Quality Cars on page 123.  Answer all of the questions in your books Written activity