Marketing for non marketers, Experience inbound initative
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Transcript of Marketing for non marketers, Experience inbound initative
Marketing for Non-Marketers
Experience Inbound15th November, 2014
Nihal Hassan, MBA
Outlines
• Marketing Definition
• Strategic Marketing Planning• Situation Analysis
• External environmental forces “PESTL”
• Internal Forces “SWOT”
• Positioning & Differential Advantage
• Target Market
• Marketing Mix• Product
• Price
• Place
• Promotion
• Services’ Marketing Mix
• BCG Matrix
• ANSOFF Matrix
What is Marketing
YES No
Marketing is Planning
Marketing is Pricing
Marketing is Promoting
Marketing is Distributing
What is Marketing (Cont’d)
Marketing is a total system of business activities designed to plan, price,
promote and distribute WANT-SATISFYING products/services/ideas to
target market to achieve organizational objectives
Marketing is the process by which companies create value for customers
and build strong customer relationships in order to capture value from
customers in return. “Kotler”
Strategic Marketing Planning
• Conducting Situation Analysis
• Developing marketing objectives
• Segmenting the market
• Profile the market segments
• Positioning
• Marketing Mix
Situation Analysis
• Situation Analysis covers External environmental forces
“PESTL” as well as Internal Forces “SWOT”.
• Situation Analysis is a critical task as it includes numerous
subjective as well as objective judgments.
• SWOT Analysis is the most Famous assessment Framework.
External environmental forces “PESTL”
• Economic
• GDP trends
• Interest rates
• Money supply
• Inflation rates
• Unemployment levels
• Wage/price controls
• Devaluation/revaluation
• Energy availability and
cost
• Disposable and
discretionary income
• Technological
• Total government
spending for R&D
• Total industry
spending for R&D
• Focus of
technological efforts
• Patent protection
• New products
• New developments in
technology transfer
from lab to
marketplace
• Productivity
improvements through
automation
• Political-Legal
• Antitrust regulations
• Environmental
protection laws
• Tax laws
• Special incentives
• Foreign trade
regulations
• Attitudes toward
foreign companies
• Laws on hiring and
promotion
• Stability of
government
• Socio-cultural
• Lifestyle changes
• Career expectations
• Consumer activism
• Rate of family
formation
• Growth rate of
population
• Age distribution of
population
• Regional shifts in
population
• Life expectancies
• Birth rates
Internal Forces “SWOT”
StrengthsYour specialist
marketing expertise
A new, innovative product or
service
WeaknessLack of
marketing expertise
Poor quality goods or services
OpportunitiesA developing
market such as the Internet
A market vacated by an
ineffective competitor
Threats
A new competitor in
your home market
Taxation is introduced on
your product or service
Marketing Objectives
The objective is the starting point of the marketing
plan.
Objectives should seek to answer the question
'Where do we want to go?'. The purposes of
objectives include:
• To enable a company to control its marketing plan.
• To help to motivate individuals and teams to reach a
common goal.
• To provide an agreed, consistent focus for all functions of anorganization.
Positioning & Differential Advantage
• Positioning is all about “perception”
• Positioning: Refers to a product’s image in relation to directly
competitive products as well as other products marketed by
the same company.
• Differential Value: Refers to any feature of an organization or
brand perceived by customer to be desirable and different
from those of the competition.
Defining Target Market
Target Market: Refers to a group of people or organizations
at which a firm directs a marketing program through knowing:
◦ Demographics
◦ Geographic
◦ Socioeconomic
◦ Psychographics
Defining Target Market – Cont’d
Marketing MixThe marketing mix is probably the most famous marketing
term. Also known as the Four P's, the marketing mix
elements are:
Marketing Mix
Product
Price
Place
Promotion
Marketing Mix – Cont’d
Marketer Perception
Four Ps
Product
Price
Place
Promotion
Customer Perception
Four Cs
Customer solution
Customer cost
Convenience
Communication
Marketing Mix – Cont’d
Marketing Mix - Product
Marketing Mix – Product – Cont’d
1) Introduction.
The product is promoted to create awareness.
The product has no or few competitors, & a skimmingprice strategy is employed.
Limited numbers of product are available in few channelsof distribution.
2) Growth.
Competitors are attracted into the market with verysimilar offerings.
Products become more profitable.
Advertising spend is high and focuses upon building brand.
Market share tends to be stabilized.
Marketing Mix – Product – Cont’d
3) Maturity
• Producers attempt to differentiate products and brands arekey to this.
• Price wars and intense competition occur.
• Producers begin to leave the market due to poor margins.
• Promotion becomes more widespread and use a greatervariety of media.
4) Decline
• Declining happens either because more innovativeproducts are introduced or consumer tastes have changed.
• There is intense price-cutting and many more products arewithdrawn from the market
Marketing Mix - Price
Promotional Pricing
Promotional pricing including approaches such as BOGOF (Buy One Get One Free).
Value Pricing
Is used where external factors such as recession exists
Economy Pricing
The cost of marketing and manufacture are kept at a minimum
Penetration Pricing
Price is set artificially low in order to gain market share. Once this is achieved, the price is increased
Premium Pricing
High price where there is a uniqueness about the product Used for luxuries Products/Services
Marketing Mix - Place
“A channel of distribution comprises a set of institutions which perform all of
the activities utilized to move a product and its title from production to
consumption” Bucklin -Theory of Distribution Channel Structure (1966)
• Sold through every available outlets.Intensive
• Sold through multiple but not all possible outletsSelective
• Sold through one single outlet Exclusive
• Sold only through the company’s outletsDirect
• Sold through direct and/or indirect channels Indirect
Marketing Mix - Promotion
What does Promotion mean?
Advertising
Sales Promotion
NO
NO
Marketing Mix - Promotion (Cont’d)
• The elements of the promotions mix are:
Personal Selling
Sales Promotion
Public Relations
Direct Marketing
Internet and Interactive Marketing
Advertising
Personal Selling
• Personal Selling is an effective way to manage personalcustomer relationships.
• sales people are very expensive and should only be usedwhere there is a genuine return on investment.
• The sales person acts on behalf of the organization
Sales Promotion
• Sales promotion tend to be thought of as being allpromotions apart from advertising.
• BOGOF promotion, or Buy One Get One Free. Othersinclude couponing, money-off promotions, freeaccessories.
• Sales promotion is generally broken into two majorcategories:
• Consumer-oriented activities.
• Trade-oriented activities.
Public Relations (PR)
• Public Relations is defined as 'the deliberate, planned andsustained effort to establish and maintain mutualunderstanding between an organization and its publics'
• Public relations uses publicity and a variety of other tools-including:
• Special publications
• Participation in community activities
• Fund-raising
• Sponsorship of special events
• Various public affairs activities-to enhance an organization'simage.
Direct Marketing
• In Direct marketing organizations communicate directlywith target customers to generate a response and/or atransaction.
• Direct marketing is much more than direct mail and mail-order catalogs.
Advertising
Advertising is a 'paid for' communication.
It is used to develop attitudes, create awareness, andtransmit information in order to gain a response from thetarget market.
There are many advertising 'media' such as newspapers(local, national, free, trade), magazines and journals,television (local, national, terrestrial, satellite) cinema,outdoor advertising (such as posters, bus sides).
Internet and Interactive Marketing
• Interactive media allow for a back-and-forth flow of information whereby users can participate in and modify the form and content of the information they receive in real time.
• The new media allow users to perform a variety of functions such as:
• Receive and alter information and images.
• Make inquiries.
• Respond to questions.
• Make purchases
Selecting Promotion Activities
• Selection of promotional activities is based on five elements
• Nature of Product or Services
• Competition
• Budget: Power to spend
• Market Condition: Recession / Active market
• Product Stage: status of product on the PLC
Services’ Marketing Mix
Product
Price
Place
Promotion
• Additional elements for the services Marketing Mix
Process
Physical evidence
people
BCG Matrix
ANSOFF Matrix
Thank You