Marketing is focusing on customer needs to deliver products and services with value.

Challenge is to
clearly determine needs and to understand how they can best be met.

Product: All the attributes that make up a good, a service, or an idea, including product design, features,
colour, packaging, warranty, and service levels.

Price: The expected regular retail or sale price for a product.

Place: The distribution channels, retail formats, and merchandising used to sell a product.

Promotion: The communication tools needed to inform consumers about a product, including
advertising, public relations, sales promotion, direct response, event marketing and sponsorship, and
personal selling.

Evolution of business philosophies

Production orientation: - This stage focuses on manufacturing, which until the industrial revolution was
not a widespread phenomenon. Manufactured goods tend to sell, regardless of their quality, because
they were in short supply. Consumer needs were not a priority.

Sales orientation: - This stage focused on selling as many products as possible. The market had become
more competitive, production had become more efficient, and products were in abundance.

Marketing orientation: - focuses its efforts on continuously collecting information about customers'
needs, sharing this information across departments, and using it to create customer value.

Relationship Marketing orientation: - is when organizations create long-term links with their customers,
employees, suppliers, and other partners to increase loyalty and customer retention.

3 elements of relationship marketing

 Social media: - formally defined as a form of online media that allows members to create their
own network of friends and contacts to share comments, articles, opinions, videos, and images
as a form of self-expression.
 Customer relationship management: - is defined as the overall process of building and
maintaining profitable customer relationships by delivering superior customer value and
satisfaction
 Corporate social responsibility: - is a concept where organizations voluntarily consider the well-
being of society and the environment by taking responsibility for how their businesses impact
consumers, customers, suppliers, employees, shareholders, communities, the environment, and
society in general.

What skills does marketing require?

 Skills and traits needed: Analytical, Work well with others, Strong written and verbal
communication skills, technologically competent, Ability to conduct data analysis, problem
solving, Passion for understand customers, Ability to thrive in changing environment
Product Decisions

 Core benefits
 Actual tangible product
 Augmented product

Place Decisions

 Marketing channel decisions involve: - Selecting, Managing and Motivating

 Intermediaries are often used: - Wholesalers, distributors, brokers and retailers
 Online increasingly important: - Online can be direct, Affiliate, Other Retailer

Pricing decisions

 What the consumer must give up to purchase a product

 How will customers perceive the value?
 How will the value be communicated?
 Structure of price
 Cost to the consumers include: Time mental

Promotional Decisions

What are the types of Market research

Primary research: - Primary research is any type of research that you go out and collect yourself.
Examples include surveys, interviews, observations

Secondary research: - Secondary research (also known as desk research) involves the summary,
collation and/or synthesis of existing research rather than primary research, in which data are collected
from, for example, research subjects or experiments.

Good research: - Highly ethical standards be applied

The 6-step market research approach

What is a target market, why target, how is this the same or different than your target customer? ,
Are target markets the same as customer base ?

Customer base are the people who are already using ur product

Target Market specific group of existing and potential consumers to which marketers direct marketing
efforts … with limited funds it is better to channel resources to a specific group of consumers …. Target
marketing allows you to focus ur marketing dollars and message on a specific market that is more likely
to buy from you …. Target Market is broader than target customer . The target cu

Bases of Segmentation

Geographic segmentation: - Province, region, climate and country

Demographic segmentation: - Age, sex, family status, education, occupation, income, social, class

Psychographic segmentation: - Values, Personality traits, lifestyles

Behaviouristics segmentation: - usage, loyalties and busing responses

Benefit segmentation: - Types of specific needs or wants to be satisfied

Market segmentation aggregation of prospective buyers into groups that have common needs and
respond similarly to marketing programs

- Relatively homogenous
- Similar consumption behaviour, attitudes and target market profiles
- Leads to Product Differentiation

Positioning Maps

Consumer purchase decision process: - Involvement various based on the complexity of the decisions

Consumer behaviour: - Definition

Other purchase decision influences

 - Situational influences and Psychographic influences ( see Diagram )

Marketing environment

Consider the following and how they are changing and trending

C – Competitive environment

R – Regulation and laws

E – Economic Conditions

S – Socio cultural factors

T – Technology

D- Demographics

How do you discover market trends? CRESTD

The 4 I’s of service

- Intangibility
- Inconsistency
- Inseparability
- Inventory

Consumer Products

- Convenience “People in varying stages of life will classify

- Shopping products differently "
- Specialty
- Unsought

Branding

Ipsos reids 5 variables that define, determine and ultimately drive brand influence:

- Trustworthy
- Engagement
- Leading edge
- Corporate citizenship
- Presence

Brand Classifications

- Individual
- Family
- Brand Extension
- Sub-Brand
A good brand name should :-

- Suggest the product benefits

- Be memorable, distinctive, and positive
- Fit the company or product image
- Have the ability to be legally protected
- Be simple -- spell, pronounce read and remember

Types of brands

- Manufactue brands – wned and produced by the manufacture eg :- Tylenol

- Private label Brand – Owned by a retailer that contrats i
- Generic Brand