Marketing fundamentals
Download as PPSX, PDF40 likes14,088 views
The document provides an overview of marketing fundamentals, detailing its concepts, applications, and relationship with sales. It covers key topics including the marketing mix (4 P's), segmentation, brand building, product life cycle stages, and marketing strategies. The ultimate goal is to align marketing with sales, clarify misconceptions, and develop effective strategies for introducing and managing brands.
Marketing fundamentals
- 1. Marketing Fundamentals (Sales Program)
- 2. General Ground Rules • No Smoking • Mobiles Off or Silent • Breaks and Prayer Marketing Fundamentals
- 3. Introduction This is an Overview of the Marketing, its concepts, how is it applied and its relation with the Sales Marketing Fundamentals
- 4. Objective •Introduce the nature of the Marketing , its cycle and the relation between it and the Sales •Align Sales with Marketing and clear any misconceptions • Closely understand marketing strategy and be involved in one Marketing Fundamentals
- 5. Contents • What is Marketing? • What can we market? • Marketing Mix • Segmentation / Target Markets • How to introduce a new brand? • Product life cycle • Marketing Activities • Brand Building • Brand Management • Brand Equity • Marketing Strategy Marketing Fundamentals
- 6. What Is Marketing? • Marketing is typically seen as the task of creating, promoting and delivering differentiated goods and services to consumers and businesses at a profit Marketing Fundamentals
- 7. Contents • What is Marketing? • What can we market? • Marketing Mix • Segmentation / Target Markets • How to introduce a new brand? • Product life cycle • Marketing Activities • Brand Building • Brand Management • Brand Equity • Marketing Strategy Marketing Fundamentals
- 8. What Can We Market? • Places • Properties • Organizations • Goods • Services Marketing Fundamentals
- 9. What Can We Market? • Experiences • Information • Ideas • Events • Persons Marketing Fundamentals
- 10. Contents • What is Marketing? • What can we market? • Marketing Mix • Segmentation / Target Markets • How to introduce a new brand? • Product life cycle • Marketing Activities • Brand Building • Brand Management • Brand Equity • Marketing Strategy Marketing Fundamentals
- 11. Marketing Mix What are the 4 P’s? • Product • Price • Place Cost to satisfy Convenience to buy • Promotion What are the 4 C’s? Communication Consumer wants and needs Marketing Fundamentals
- 12. Marketing Mix The Four P’s: • Product • Price • Place • Promotion Marketing Fundamentals
- 13. Marketing Mix (Product) The following decisions should be made; • Brand name • Functionality • Personality • Positioning • Range • Looks Marketing Fundamentals
- 14. Marketing Mix (Product) • Packing • Quality • Safety • Repairs • Warranty • Services & Accessories •Brand Pyramid Marketing Fundamentals
- 15. Marketing Mix (Product) Marketing Fundamentals
- 16. Marketing Mix The Four P’s: • Product • Price •Place •Promotion Marketing Fundamentals
- 17. Marketing Mix (Price) The following decisions should be made; • Pricing strategy • Suggested retail price • Volume discounts and wholesale pricing • Cash and early payment discount • Price per SKU Marketing Fundamentals
- 18. Marketing Mix The Four P’s: • Product • Price •Place •Promotion Marketing Fundamentals
- 19. Marketing Mix (Place) The following decisions should be made; • Distribution Channels • Type of Trade • Location at Trade Marketing Fundamentals
- 20. Marketing Mix (Place) •Order processing • Warehousing • Inventory Management • Transportation Marketing Fundamentals
- 21. Marketing Mix The Four P’s: • Product • Price •Place •Promotion Marketing Fundamentals
- 22. Marketing Mix (Promotion) The following decisions should be made; • Personal selling & selling force • Communication/Advertising • Public relations • Promotional Strategy (push or pull) • Marketing communication budget Marketing Fundamentals
- 23. Contents • What is Marketing? • What can we market? • Marketing Mix • Segmentation / Target Markets • How to introduce a new brand? • Product life cycle • Marketing Activities • Brand Building • Brand Management • Brand Equity • Marketing Strategy Marketing Fundamentals
- 24. Segmentation / Target Markets Demographics, Target Group: • SEC • Age • Gender • Location Marketing Fundamentals
- 25. Segmentation / Target Markets Psychographics, Target Groups • Life Style • Preferences • Activities Marketing Fundamentals
- 26. Segmentation / Target Markets A1 OG Brands per Target Groups A2 B1 B2 C1 C2 Marketing Fundamentals
- 27. Segmentation / Target Markets Things to look at when addressing different markets: • Product modification cost • Manufacturing cost • Administrative cost • Inventory cost • Promotion cost Marketing Fundamentals
- 28. Contents • What is Marketing? • What can we market? • Marketing Mix • Segmentation / Target Markets • How to introduce a new brand? • Product life cycle • Marketing Activities • Brand Building • Brand Management • Brand Equity • Marketing Strategy Marketing Fundamentals
- 29. How To Introduce A New Brand? Research Sales Trade Category / Brand (Gaps Brand & Consumer Portfolio) Com R&D Industrial After Sales Marketing Fundamentals
- 30. Case Study Marketing Fundamentals
- 33. Case Study Requirements: • Marketing Mix: 4Ps: Product – Price – Place – Promotion • Segmentation / Target Markets: - Demographics: SEC – Gender – Age – Location - Psychographics: Lifestyle – activities – preferences Marketing Fundamentals
- 34. Contents • What is Marketing? • What can we market? • Marketing Mix • Segmentation / Target Markets • How to introduce a new brand? • Product life cycle • Marketing Activities • Brand Building • Brand Management • Brand Equity • Marketing Strategy Marketing Fundamentals
- 35. Product Life Cycle Any product normally goes through 4 different stages Marketing Fundamentals
- 36. Product Life Cycle (Stages) 1. Introduction The need for immediate profit is not a pressure. The product is promoted to create awareness Marketing Fundamentals
- 37. Product Life Cycle (Stages) 2. Growth Competitors are attracted into the market with very similar offerings. Advertising focuses upon building brand. Market share tends to stabilize Marketing Fundamentals
- 38. Product Life Cycle (Stages) 3. Maturity Sales grow at a decreasing rate and then stabilize Price wars and intense competition occur At this point the market reaches saturation and producers begin to leave the market due to poor margins Marketing Fundamentals
- 39. Product Life Cycle (Stages) 4. Decline More innovative products are introduced or consumer tastes have changed There is intense price-cutting Marketing Fundamentals
- 40. Product Life Cycle (Challenges) • The decisions of marketers can change the stage, (from maturity to decline by price-cutting) • Not all products go through each stage. Some go from introduction to decline Marketing Fundamentals
- 41. Contents • What is Marketing? • What can we market? • Marketing Mix • Segmentation / Target Markets • How to introduce a new brand? • Product life cycle • Marketing Activities • Brand Building • Brand Management • Brand Equity • Marketing Strategy Marketing Fundamentals
- 42. Marketing Activities Above-the-line (ATL) Below-the-line (BTL) • TV • Poster • Radio • Dangler • Press • Leaflet • Outdoor • Bunting Flag • Internet Marketing Fundamentals
- 43. Contents • What is Marketing? • What can we market? • Marketing Mix • Segmentation / Target Markets • How to introduce a new brand? • Product life cycle • Marketing Activities • Brand Building • Brand Management • Brand Equity • Marketing Strategy Marketing Fundamentals
- 44. Brand Building Positioning Quality Well blended Repositioning communication Brand Building Long Term Perspective Credibility Internal Marketing Marketing Fundamentals
- 45. Brand Building What is the consumers’ perception of QUALITY? Marketing Fundamentals
- 46. Contents • What is Marketing? • What can we market? • Marketing Mix • Segmentation / Target Markets • How to introduce a new brand? • Product life cycle • Marketing Activities • Brand Building • Brand Management • Brand Equity • Marketing Strategy Marketing Fundamentals
- 48. Contents • What is Marketing? • What can we market? • Marketing Mix • Segmentation / Target Markets • How to introduce a new brand? • Product life cycle • Marketing Activities • Brand Building • Brand Management • Brand Equity • Marketing Strategy Marketing Fundamentals
- 49. Brand Equity The major brand assets are: • Brand name awareness • Brand loyalty • Perceived quality • Brand associations Marketing Fundamentals
- 50. Contents • What is Marketing? • What can we market? • Marketing Mix • Segmentation / Target Markets • How to introduce a new brand? • Product life cycle • Marketing Activities • Brand Building • Brand Management • Brand Equity • Marketing Strategy Marketing Fundamentals
- 51. Marketing Strategy It is more important to do what is strategically right than what is immediately profitable. Kotler Marketing Fundamentals
- 52. Marketing Strategy Marketing strategy is a pattern or plan that integrates the organization's: • Goals • Policies To achieve customer success 360 Consumer Developing Economy Analysis Market Mix evaluation Market Competition Distribution Analysis Analysis Channel Evaluation Marketing Fundamentals
- 53. Marketing Strategy Marketing strategies are generally concerned with four Ps: • Product strategies • Pricing strategies, • Promotional strategies • Placement strategies Consumer Developing Economy Analysis Market Mix evaluation Market Competition Distribution Analysis Analysis Channel Evaluation Marketing Fundamentals
- 54. Marketing Strategy How To Develop a Marketing Strategy in 5 Easy Steps: 1. Describe your company's unique selling proposition (USP) 2. Define your target market 3. Write down the benefits of your products or services Marketing Fundamentals
- 55. Marketing Strategy 4. Describe how you will position your products or services 5. Define your marketing methods. Will you advertise, use Internet marketing, direct marketing, or public relations? Marketing Fundamentals
- 56. Activity Case Study Marketing Fundamentals 56
- 59. Case Study Requirements: Marketing Strategy: > Marketing Mix: 4Ps: Product – Price – Place – Promotion > Segmentation / Target Markets: - Demographics: SEC – Gender – Age – Location - Psychographics: Lifestyle – activities – preferences > Positioning > Communication activities plan Marketing Fundamentals
- 61. Case Study Proposed communication Marketing Fundamentals
- 62. Case Study - Execution 1 Marketing Fundamentals
- 63. Case Study - Execution 2 Marketing Fundamentals
- 64. Case Study - Execution 3 Marketing Fundamentals
- 65. Thank You
Editor's Notes
- #57: End of day-1