Download Marketing Notes

Market
Planning
Risk
Management
Product/Service
Development
Finance
Marketing
Information
Management
Pricing
Promotion
Selling
Distribution
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Market Planning
 Developing a strategy to:
 achieve company goals
 satisfy customer needs better than competitors
 Create sales and earn a profit
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Product/Service Management
 Designing, developing, maintaining, improving
and acquiring products and services that meet
customer needs

Distribution
 Determining the best way for customers to
locate, obtain, and use products and services
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Pricing
 Setting and communicating the value of
products

Promotion
 Communicating information about products
and services to potential customers.
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Selling
 Communicating directly with customers to
determine and satisfy their needs.
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Information Management
 Obtaining and using information to improve
business decision-making and the
performance of marketing activities.
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Finance
 Budgeting for marketing activities
 Obtaining necessary funds for operations
 Providing financial assistance to customers

Risk Management
 Reducing the possibility of financial loss
 Ensuring product is safe and meet all guidlines

volunteers?!?
› Your Business

If you make a great product is marketing
necessary?

More important, marketing or a quality
product?
All Costs are per item

Office Supply Store - $100

Cheap Pencils - $15

#1 Supplier - $50

Using the needs of customers as the
primary focus throughout the functions of
marketing

3 Step process:
1. Identify needs of customers.
2. Develop and market product/service to meet
customer needs.
3. Operate the business at a profit

Satisfied or not what's the difference?
 Marketing
Research gathers and
analyzes information about customers.
› Methods of Information gathering
 Surveys
 Focus Groups
 Observation
 Test Markets
 Random Sampling
/Experiment
Define these customer wants/needs

STEP 1 – Identify the Target Market
 Who are we selling our product or service to?

Gatorade
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vs.
STEP 2 – Develop Marketing Mix
 Product, Price, Place (Distribution), Promotion

TARGET MARKET – specific group of
consumers that have similar wants and
needs

Companies can not meet everyone’s
needs with any one product

Focusing on a target market makes it
easier to develop products people want

Product
What
are we
going
to sell
pricing
How
much
will we
charge
promotion
How will we
communicate
to our
customers
about our
product or
service
place
How will
we get
our
product
or service
to
customers

What does the customer want/need from
the product/service?

What features does it have to meet these
needs?

What is it to be called?

How is it branded?

How
is
it
competitors?
differentiated
versus
your
What is the value of the product or service
to the buyer?
 How will your price compare with your
competitors?
 What profit will we earn?
 Pricing Factors

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Supply and Demand
Uniqueness
Age
Season
Complexity
Convenience
Quality
What are the best methods and
procedures to use so customers can find
obtain and use your product?
 Where do buyers look for your product or
service?
 What do your competitors do?
 Direct vs. Indirect Channels of Distribution

 Direct – From Producers to Consumer
 Indirect – One or more business in between the
producer & consumer .
 Transportation Company
 Retailers
Where and when can you get across your
marketing messages to your target market?
 How do your competitors do their
promotions? And how does that influence
your choice of promotional activity?
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Types of Promotion
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Advertising
Personal Selling
Sales Promotions
Giveaways
Publicity
Word of Mouth
Product
Placement
(Distribution)
Pricing
Promotion