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MARKETING
BEST COMMERCIAL EVER #1
BEST COMMERCIAL EVER #2
WHAT IS MARKETING?
 It’s a complex set of activities and strategies that influence where we live, what we wear, how we conduct
business, and how we spend our time and money
 Marketing activities are conducted in an environment that changes quickly both in terms of customer demand and
the methods by which consumers obtain information and make purchases
MARKETING: A DEFINITION
“The activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large.”
MARKETING: A DEFINITION (CONT’D)
There are four activities, or components, of marketing:

Creating. The process of collaborating with suppliers and customers to create offerings that have value.

Communicating. Broadly, describing those offerings, as well as learning from customers.

Delivering. Getting those offerings to the consumer in a way that optimizes value.

Exchanging. Trading value for those offerings.
MARKETING: CENTRED AROUND “VALUE”
WHAT IS “VALUE”?
 When we use the term value, we mean the benefits buyers receive that meet their needs
 value is what the customer gets by purchasing and consuming a company’s offering.
 although the offering is created by the company, the value is determined by the customer
THE FOUR “PS” OF MARKETING
 The traditional way of viewing the components of marketing is in terms of the four Ps:

Product. Goods and services (creating offerings).

Promotion. Communication.

Place. Getting the product to a point at which the customer can purchase it (delivering).

Price. The monetary amount charged for the product (exchanging).
A NEW LOOK AT THE FOUR PS
THE MARKETING ENVIRONMENT
 there are other forces at work in the
marketing world—forces over which
marketers have much less control
 To spot trends and other signals that
conditions may be in flux, marketers
must continually monitor the
environment in which their
companies operate
EXAMPLE: SOCIAL / CULTURAL ENVIRONMENT
Generation Gaps
 Baby boomers
 Generation X
 Generation Y
UNDERSTANDING CONSUMER BEHAVIOUR
INFLUENCES
Psychological Influences
 Under this category, we can identify at least the
following five variables:
 Motivation. The internal process that causes you to
seek certain goals.
 Perception. The way you select, organize, and
interpret information.
 Learning. Knowledge gained through experience and
study.
 Attitudes. Your predisposition to respond in
particular ways because of learned values and
beliefs.
 Personality. The collection of attributes that
characterize an individual.
Social Influences
 Here, we find the following four factors:
 Family.
 Reference groups. Friends or other people with
whom you identify.
 Economic or social status.
 Culture. Your set of accepted values.
MARKET RESEARCH
Consumer market research can serve a variety of purposes, including the following:
 Help companies make better business decisions and gain advantages over the competition
 Help marketing managers or executives make numerous strategic and tactical decisions in the process of
identifying and satisfying customer needs
 Remove some of the uncertainty by providing relevant information about the marketing variables, environment,
and consumers. In the absence of relevant information, the consumer response to marketing programs cannot be
predicted reliably or accurately
 Provide insights that help guide the creation of a business plan, launch a new product or service, optimize existing
products and services, and guide expansion into new markets
 Determine which portion of the population will be most likely to purchase a product or service, based on
variables such as age, gender, location, and income level
 Reveal characteristics of a target market
 Understand how consumers talk about the products in the market
 Identify which consumer needs are important and whether the needs are being met by current products
MARKET RESEARCH (CONT’D)
What Is Quantitative Research?
 Quantitative research is defined as the systematic empirical investigation of social phenomena via statistical,
mathematical, or computational techniques. It requires collection of enough data points to conduct valid statistical
or mathematical analyses.
What Is Qualitative Research?
 Qualitative research uses examination, analysis, and interpretation to discover underlying meanings and patterns
of relationships in a manner that does not involve mathematical models.
THE MARKET RESEARCH PROCESS
The marketing research process involves the following six steps:
 Problem definition
 Development of an approach to the problem
 Research design formulation
 Data collection
 Data preparation and analysis
 Report preparation and presentation
PREDICTIVE ADVERTISING
BRANDING
DEFINING A BRAND
 A brand is a promise: the promise of what a company or product will provide to the people who interact with it
 A brand consists of all the features that distinguish the goods and services of one seller from another: name, term,
design, style, symbols, customer touch-points, etc.
 Together, all elements of the brand work as a psychological trigger or stimulus that causes an association to all
other thoughts we have about this brand. Brand encompasses visual design elements (i.e., logo, color, typography,
images, tagline, etc.), distinctive product features (i.e. quality, design sensibility, etc.), and intangible aspects of
customers’ experience with a product or company (i.e. reputation, customer experience, etc.).
DEFINING A BRAND (CONT’D)
 A successful brand is much more than just a name or logo
 Brand is the sum of perceptions about a company or product in the minds of consumers
 Effective brand-building can create and sustain a strong, positive, and lasting impression that is difficult to displace
DEFINING A BRAND (CONT’D)
A brand can convey multiple levels of meaning, as follows:
 Attributes: specific product features. The Mercedes-Benz brand, for example, suggests expensive, well-built, well-
engineered, durable vehicles.
 Benefits: attributes translate into functional and emotional benefits. Mercedes automobiles suggest prestige,
luxury, wealth, reliability.
 Values: company values and operational principles. The Mercedes brand evokes company values around
excellence and high performance.
 Culture: cultural elements of the company and brand. Mercedes represents German precision, discipline,
efficiency, quality.
 Personality: strong brands often project a distinctive personality. The Mercedes brand personality combines
luxury and efficiency, precision and prestige.
 User: brands may suggests the types of consumers who buy and use the product. Mercedes drivers might be
perceived and classified differently than, for example, the drivers of Cadillacs, Corvettes or BMWs.
PURPOSE OF BRANDING
 Effective branding encompasses everything that shapes the perception of a company or product in the minds of
customers
 Branding also addresses virtually every aspect of a customer’s experience with a company or product: visual
design, quality, distinctiveness, purchasing experience, customer service, and so forth
 Branding requires a deep knowledge of customers and how they experience the company or product
BENEFITS OF BRANDING FOR THE CONSUMER
 Brands help simplify consumer choices
 Effective branding enables the consumer to easily identify a desirable company or product because the features
and benefits have been communicated effectively
 Positive, well-established brand associations increase the likelihood consumers will select, purchase and consume
the product
BENEFITS OF BRANDING FOR THE COMPANY
 Branding helps create loyalty
 It decreases the risk of losing market share to the competition by establishing a differential advantage
 Strong brands often command premium pricing from consumers who are willing to pay more for a product they
know, trust, and perceive as offering good value
 Branding enables the retailer to benefit from brand marketing support by helping to attract more customers
BRAND LOYALTY
 brand loyalty refers to a consumer’s commitment to repurchase or otherwise continue using a particular brand
by repeatedly buying a product or service
 Aside from a consumer’s ability to repurchase a brand, true brand loyalty exists when the customer is committed
to the brand, and the customers have a high relative attitude toward the brand, which is then exhibited through
repurchase behavior
 The benefits of brand loyalty are longer tenure (or staying a customer for longer), and lower sensitivity to price