Download Marketing

Marketing:
Implementing & Planning for
Success
By: A. J. King
12/9/04
MBP
Marketing

The act or process of selling or purchasing
in a market, moving good/services from
producer to consumer.
MBP
Purpose of Marketing

To initiate and build mutually beneficial
relationships.
Principles of Marketing (4p’s)
Product
 Price
 Promotion
 Place (Distribution)

*MBP
Price : Place :Product: Promotion
Word of mouth, personal selling
 The process of setting cost for a product
 The management aspect of marketing
dealing with specifications of the actual
good or service; how it relates to the end
user “client”
 How the product gets to the customer

“Product”

1.
2.
3.

An umbrella term for
goods (tangible)
Services (intangible)
Ideas (intangible)
Defines the nature of the good, service
or idea that meets the consumers needs.
“Price”

1.

1.

Generating Revenues:
Prices must be high enough to cover
costs and make a profitCompetitive Edge
Prices must be low enough that
customers will not refuse to buy
Defines the value in which time, good,
service will be assessed.
“Promotion”

1.
2.
3.
4.

How we communicate with the client?
Personal Selling/Word of mouth
Advertising
Public Relations
Inform, persuade, and remind customers
A promotional plan can have a wide range of
objectives, including: sales increases, new
product/service acceptance, competitive
retaliations, or creation of a corporate image.
“Place” (Distribution)

1.
2.
3.

How to get the product/service to the
consumer/client?
What kind of distribution channels should be
usedWhere should the product/service be availableWhen should the product of service be
availableAll means that supplies the product to the
customer from the producer or supplier.
Implementing Marketing Plans
Interacting with others to coordinate
activities (team-members)
 Organizing resources (source of supply or
support: services/goods)
 Allocating resources (time, money, and
people
 Monitoring results of marketing actions
(research, sales and promotion,)

External Benefits of Marketing

Top-of-Mind exposure

Positioning with Key markets

Exposure to target clients

Strategies can be used to initiate, build,
strengthen relationships
Internal Benefits of Marketing

Sharing of ideas, improves employee
awareness

Enhances recruiting

Improves employee and or
investor/financial relations
Negative affects of Marketing

1.
2.
3.
4.
Failure:
Low Demand
The Customer
Initiating
Building
Rewards of Marketing
Marketing serves people
 Makes accessible, great products and
services to people
 It gives people more choices
 It can make ideas, culture and a standard
of living possible
 When done right: it listens and forms the
basis for broader “relationships”

To be in Control of Implementation
A good plan + Effective Implementation=
“Best Chance for Success”
Marketing

1.
2.
3.
Challenges of Marketing:
Marketing department is often thought of as
dispensable
Corporate budgets; cuts and increases. When
a company experiences downsizing or is in the
Red, the Marketing Department experiences
cut backs.
When companies experience growth or are in
the Black, this department typically increases.
Why Marketing Is Powerful
It is the major source of revenue in a
business
 It can give the organization some measure
of control over opportunities and even
threats
 Choices are made by customers whether
you involve yourself or not
 When done correctly, it listens and forms
the basis for broader relationships

How can I build my Understanding of
Marketing

Research-

Study Marketing trends

Practice Marketing thoughtfully, experimentally

Communicate with marketers

Plan
Your Thoughts

Questions & Answers
Key to Success
Mediocracy is rampant…excellence is
rare…