What’s Marketing? Oxford Dictionary: Market : A place at which trade is conducted. Marketing: The action of buying or selling in a market.

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Presentation transcript:

What’s Marketing? Oxford Dictionary: Market : A place at which trade is conducted. Marketing: The action of buying or selling in a market

What’s Marketing?

Marketing Plan Market Research Define the Market Precisely

ProductPrice PlacePromotion The marketing mix principles are controllable variables which have to be carefully managed and must meet the needs of the defined target group. All elements of the mix are Linked and must support each other. Marketing Mix (4p’s)

Is there a need? Providing the correct bundle of benefits to the end user Changing benefits to the changing needs and demands Marketing Mix (4p’s) Product

Generates profit Must support the 3 other P’s Must reflect supply and demand relationship Competitive but attractive Marketing Mix (4p’s) Price

Promotional Mix Advertising Public Relations Sales Promotion Personal Selling Direct Mail Internet/ E-commerce A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. An organisations promotional mix can consist of: Marketing Mix (4p’s) Promotion

Marketing Mix (4p’s) Promotion (Advertising) Attract & Convince to buy Inform

Manufacturer Consumer Manufacturer Retailer Consumer Direct Distribution Indirect Distribution Marketing Mix (4p’s) Place