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MARKETING LECTURE NOTES Dimitris Drosos Lecturer Technological Education Institute of Piraeus Business School Management Information System & New Technology Lab LOGO CONTENTS About Marketing Marketing - Product Marketing - Promotion Marketing Strategy E - Marketing GeoInformation and ICT in Market Research – Marketing Notes ABOUT MARKETING GeoInformation and ICT in Market Research – Marketing Notes WHAT IS MARKETING GeoInformation and ICT in Market Research – Marketing Notes WHAT IS MARKETING Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals American Marketing Association GeoInformation and ICT in Market Research – Marketing Notes WHAT IS MARKETING ‘Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably’ profitably’ The Chartered Institute of Marketing GeoInformation and ICT in Market Research – Marketing Notes WHAT IS MARKETING ‘The right product, in the right place, at the right time, and at the right price’ price’ Adcock et al ‘Marketing is the human activity directed at satisfying human needs and wants through an exchange process’ process’ Kotler 1980 GeoInformation and ICT in Market Research – Marketing Notes WHAT IS MARKETING ‘Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others’ others’ Kotler 1991 GeoInformation and ICT in Market Research – Marketing Notes WHAT IS MARKETING 5 Ps of Marketing Product Product Promotion Promotion Pricing Pricing Place Place (or distribution system) People People GeoInformation and ICT in Market Research – Marketing Notes 5 Ps OF MARKETING Price B Product A C Promotion 5 Ps OF MARKETING People E GeoInformation and ICT in Market Research – Marketing Notes D Place MARKETING – MANAGEMENT PROCESS Analysis/Audit Analysis/Audit - where are we now? Objectives Objectives - where do we want to be? Strategies Strategies - which way is best? Tactics Tactics - how do we get there? Implementation Implementation - Getting there! Control Control - Ensuring arrival GeoInformation and ICT in Market Research – Marketing Notes WHAT DO WE MARKET Goods Goods Services Services Events Events Experiences Experiences Personalities Personalities Place Place Organizations Organizations Properties Properties Information Information Ideas Ideas and Concepts GeoInformation and ICT in Market Research – Marketing Notes SACCESSFUL MARKET STORY Bill Gate GeoInformation and ICT in Market Research – Marketing Notes SACCESSFUL MARKET STORY Richard Branson GeoInformation and ICT in Market Research – Marketing Notes SACCESSFUL MARKET STORY Stelios HajiHaji-Ioanou GeoInformation and ICT in Market Research – Marketing Notes MARKETING – PRODUCT GeoInformation and ICT in Market Research – Marketing Notes PRODUCT Anything that is offered to the market for attention, acquisition, use or consumption that satisfies a want or a need GeoInformation and ICT in Market Research – Marketing Notes PRODUCT LIFE CYCLE 1. Product development - sales are zero, investment costs are high 2. Introduction - profits do not exist, heavy expense of product introduction 3. Growth - rapid market acceptance and increasing profits 4. Maturity - slowdown in sales growth. Profits levellevel-off. Increase outlay to compete 5. Decline - sales fallfall-off and profits drop GeoInformation and ICT in Market Research – Marketing Notes PRODUCT LIFE CYCLE GeoInformation and ICT in Market Research – Marketing Notes MARKETING – PROMOTION GeoInformation and ICT in Market Research – Marketing Notes PROMOTION Anything that is offered to the market for attention, acquisition, use or consumption that satisfies a want or a need. GeoInformation and ICT in Market Research – Marketing Notes PROMOTION MIX Personal Personal Selling Telemarketing Telemarketing Direct Direct Mail Trade Trade Fairs and Exhibitions Commercial Commercial Television Newspapers Newspapers and Magazines Radio Radio Cinema Cinema Point Point of Sale Displays Packaging Packaging GeoInformation and ICT in Market Research – Marketing Notes PROMOTION DECISIONS Elements Elements in the Communication Process Promotions Promotions Mix The The promotions Message Executions Executions Style Media Media Choice? Promotional Promotional Objectives GeoInformation and ICT in Market Research – Marketing Notes PROMOTIONAL OBJECTIVES To To Support Sales Increases To To Encourage Trial To To Create Awareness To To Inform about a Feature or Benefit To To Remind To To Reassure To To Create an Image To To Modify Attitudes GeoInformation and ICT in Market Research – Marketing Notes MARKETING STRATEGY GeoInformation and ICT in Market Research – Marketing Notes WHAT IS MARKETING STRATEGY 1. Systematic futuristic thinking by management 2. Better coco-ordination of company efforts 3. Development of better performance standards for control 4. Sharpening of objectives and policies 5. Better prepare for sudden new developments 6. Managers have a vivid sense of participation GeoInformation and ICT in Market Research – Marketing Notes WHY MARKETING STRATEGY IS NECESSARY 1. Systematic futuristic thinking by management 2. Better coco-ordination of company efforts 3. Development of better performance standards for control 4. Sharpening of objectives and policies 5. Better prepare for sudden new developments 6. Managers have a vivid sense of participation GeoInformation and ICT in Market Research – Marketing Notes MARKETING STRATEGY GeoInformation and ICT in Market Research – Marketing Notes MARKETING STRATEGY GeoInformation and ICT in Market Research – Marketing Notes STRATEGIC MARKETING PLANNING GeoInformation and ICT in Market Research – Marketing Notes CONTENTS OF MARKETING PLAN Business Mission Statement Objectives Situation Analysis (SWOT) Marketing Strategy 1.Target Market Strategy 2.Marketing Mix 3.Positioning 4.Product 5.Promotion 6.Price 7.Place – Distribution 8.People 9.Process GeoInformation and ICT in Market Research – Marketing Notes E- MARKETING GeoInformation and ICT in Market Research – Marketing Notes E - MARKETING eMarketing is the process of marketing a brand using the Internet. It includes both direct response marketing and indirect marketing elements and uses a range of technologies to help connect businesses to their customers. GeoInformation and ICT in Market Research – Marketing Notes E - MARKETING Public Public Relation Sales Sales promotion. Brochureware. Brochureware. Direct Direct selling. Customer Customer relationship marketing. Market Market research. Managing Managing supplier relationships. GeoInformation and ICT in Market Research – Marketing Notes E - MARKETING GeoInformation and ICT in Market Research – Marketing Notes E - MARKETING GeoInformation and ICT in Market Research – Marketing Notes ADVANTAGES OF E - MARKETING Selling goods and services online. Additional customer service. Saving overhead costs. Exciting and sizzling means of visual impact. Every hit could gain a potential customer. Print and mailing costs are lower. Reduction in order processing and handling costs. GeoInformation and ICT in Market Research – Marketing Notes ADVANTAGES OF E - MARKETING Enhanced after sales service. Distribution of digital products via the web. Get closer to the customer. GeoInformation and ICT in Market Research – Marketing Notes SACCESSFUL E - MARKET STORY Mark Zuckerberg GeoInformation and ICT in Market Research – Marketing Notes For Millions of Years, In Millions of Homes I am Breathin In A Man Loved A Woman, A Child it was Born I am Breathin Out It Learned How to Hurt and It Learned How to Cry So Slip Inside this Funky House Dishes in the Sink Like Humans Do The TV s in Repair I am Breathin In Don’ Don’t Look at The Floor I am Breathin Out Don’ Don’t Go Up the Stairs So Slip Inside this Funky House I am Achin Dishes in the Sink I am Shakin The TV s in Repair I am Breakin Like Humans Do Don’ Don’t Look at The Floor I am Breathin In Don’ Don’t Go Up the Stairs I am Achin I am Shakin I am Breathin Out So Slip Inside this Funky House Wiggle While You Work I am Breakin Anybody Can Like Humans Do The Rain is Pourin in on a Woman & Man I Work & I Sleep I Dance & I am Dead I am Eating, I am Laughin & I am Lovin my Self We are Eating off Plates & We Kiss with our Tongue Like Humans Do GeoInformation and ICT in Market Research – Marketing Notes I am Achin I am Shakin I am Breakin Like Humans Do I am Breathin In I am Breathin Out