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Marketing
“The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.”
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2. Marketing Past and Present
Over time the orientation of business has changed:
Production
Sales
Marketing
Social Responsibility
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Marketing Concept
“To determine the needs and wants of a target market and then deliver a set of satisfactions in such a way that the product (a good or service) is perceived as better value than the competition.”
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4. Socially Responsible Marketing
Identify and
Satisfy
Consumer needs
Deliver satisfaction
better than the
competition
Enhance society
through good
corporate
citizenship
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5. Socially Responsible Marketing
SRM can be divided into two main areas:
Programs that conserve, preserve, and protect the environment
Programs that support causes (cause marketing)
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6. The Marketing Process Needs Assessment Identify and Select
Target Market
Develop
Marketing
Strategy
Product
Price
Distribution
Mar. Com.
Evaluation
and
Control
Marketing (Full Scale)
Test Marketing
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Marketing Mix
Marketing Mix
Product
Price
Mar. Com.
Distribution
Consumer
Public Image
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Product Strategy
A product may possess tangible and intangible characteristics. Product decisions are numerous and embrace:
Quality
Features
Brand Name
Size and Format
Service
Guarantees
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9. Product Differentiation
“A strategy that focuses marketing activity on the unique attributes or differential advantages of a brand in order to distinguish it from other brands.
Visa…All you need
Tim Hortons…Always Fresh
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Price Strategy
Establishing a fair and equitable price for consumers while being profitable for the organization.
Wal-Mart…Everyday low prices. Always.
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Price Strategy
A host of factors are considered when establishing price:
Cost of manufacturing
Desired profit level
Location of customer
Degree of competition
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12. Distribution Strategy
The selection and management of marketing channels and the physical distribution of products.
A marketing channel is a series of firms that participate in the flow of goods and services from producers to final users.
Producer
Distributors
Users
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13. Distribution Strategy
Essential distribution decisions include:
Mode of transportation
Degree of coverage in a market
Use of direct channels and/or indirect channels
Relationship-building programs with channel members
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14. Marketing Communications Strategy
Companies now employ “integrated marketing communications” strategies.
Advertising
Public Relations
Sales Promotion
Event Marketing
Direct Response
Interactive
Personal Selling
Consumer or
Final User
Coordination and integration creates more impact.
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15. Marketing Communications Strategy
Traditional forms of communications are now integrating with new forms of communications.
Traditional TV
Radio
Outdoor
Print
New
Sponsorships
Online
Text Messages
Buzz ↔
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Public Image
A good reputation is an important asset and reputation is earned through good marketing.
Customer Sensitivity
Community Support
Social Responsibility Marketing
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17. Evaluation and Control
An organization measures the results of a marketing strategy against the objectives that were established.
Test marketing prior to a national rollout
Surveys to uncover new needs and trends
Periodic financial reviews (actual versus plan)
Objectives
Sales
Market Share
Profit
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18. Relationship Marketing Model
Suppliers
Producer
Wholesaler
Retailer
Consumer
Common needs and joint objectives are established
Each stakeholder is a partner in a long-term relationship
Teamwork and cooperation replace conflict and competition
Investment in technology required
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