1. MARKETING
MARKETING
ENT 12

2. What is Marketing? Marketing
Activities directing the flow of goods and services from producer to consumer or user.
Marketing consists of those business activities that relate directly to:
Identifying a target market
Determining target market potential
Preparing, communicating, and delivering a bundle of satisfaction to the target market

3. Marketing Includes... Research Product development Pricing Packaging
Branding
Sales
Physical distribution
Inventory management
Storage
Promotion

4. Marketing Activities Revolve Around the Target Market
Distribution
Product
Target Market
Pricing
Promotion

5. WHAT IS A TARGET MARKET?
Those individuals or organizations that are likely to want to use what you can provide.

6. Focus on Customer Wants and Needs
MARKETING
The Marketing Concept
Focus on Customer Wants and Needs
Achieve Organization’s Long Term Goals by Satisfying Customer Wants and Needs
Integrate Organization’s Activities to Satisfy Customer Needs and Wants

7. MARKETING PLAN A good marketing plan should answer these questions:
What needs will be satisfied?
Whose needs will be satisfied?
How many people could benefit from my product or service?
How will consumers choose which product to buy?
Who are my competitors?
What will my competitors be doing?
What other factors could affect a business like mine?

8. THE MARKETING MIX
The successful marketing strategy depends on whether the entrepreneur has planned the right combination of marketing elements, referred to as the marketing mix, or as the FOUR P’S OF MARKETING.
Promotion
Product
Place
Price

9. An entrepreneur has to ask the right questions.
THE 4 P’S OF MARKETING
PRODUCT (OR SERVICE)
PLACE
PRICE
PROMOTION
An entrepreneur has to ask the right questions.

10. PRODUCT (OR SERVICE)
Is the product or service something customers will want to buy?
Will it be of benefit to them?
Will it meet their needs?

11. PLACE How will the product or service get to the customer?
What channels of distribution are needed?
When should the product or service be in stock or ready?
Where will the product or service be made available?

12. PRICE How much are customers willing and able to pay?
What is the best price to charge to earn a maximum profit?

13. PROMOTION
How will customers be made aware that the product or service is available?
Which of the following promotional activities will be best for this venture:
Advertising?
Personal selling?
Publicity?
Sales promotion?
E-marketing?

14. MARKET SEGMENTATION
The market is made up of people who fit into many different groups.
When a product or service is targeted toward groups of people who share common characteristics, the group is called a market segment.

15. MARKET SEGMENTATION
People may be grouped in a market segment because they:
Belong to the same culture
Have similar tastes and preferences
Share the same values or goals
Have the same socioeconomic background
Respect their group’s norms or rules of conduct
Market segmentation helps entrepreneurs match their products and services to the needs of a specific group.

16. COMMON MARKET SEGMENTS
Demographic: people of the same . . .
Sex
Age
Marital status
Family size
Stage of family life cycle

17. COMMON MARKET SEGMENTS
Socioeconomic: people of similar . . .
Occupation
Education
Income
Social class
Culture

18. COMMON MARKET SEGMENTS
3. Geographic
People who live in regions of the country that could be defined by a specific climate, or by provincial or regional boundaries

19. COMMON MARKET SEGMENTS
4. Psychographic
people with similar lifestyles or personality attributes

20. COMMON MARKET SEGMENTS
5. Behaviour patterns
People who can be identified by when, where, and how often they shop, as well as by their media habits

21. COMMON MARKET SEGMENTS
Consumption patterns
People who can be identified by their knowledge about, and loyalty to, particular products or brands

22. Why Study Marketing Plays an important role in society
Vital to business
Offers outstanding career opportunities
Affects your life every day
Where? Where else? Where, where else?

23. Career Opportunities Professional selling Advertising Retail
Product management
Brand management
Manufacturing
Service Marketing
Sport and Entertainment
Market Research
Event Planner