Unit 7

MARKETING

Unit 7 Marketing
Learning Outcome
1.

Know the basic marketing to manage a

business activities.

2.

Able to practise the marketing strategies in

the business activity.

Unit 7
Marketing

Marketing is the survey of consumers

needs & wants and produce the
necessary product/service to satisfy the
needs & wants.
At the same time achieve the
organizations objectives.
Marketing objectives:
to create customers satisfaction and
generate profit to the business. (win-win
situation)

Marketing is defined as the effort done

systematically to
- Provide goods & services to fulfill the
needs & wants of customers
- to create customers satisfaction
- to improve the sales of goods and
services
- generate profit to the business.

1) Market Research
Market research is conducted to collect
information about the market, in order
to know the wants & needs of consumers.
The information is significant to the
preparation of the marketing plan.

1) Market Research
The information collected are such as:
i) market demand
What products are needed?
Who are the potential customers?
How much do the customers willing to spend?

ii) types of market

Government market, Seller market, Consumer
market or Industry market

1) Market Research
The information collected are such as:
iii) size of market
the total amount of sales/potential customers in a
market.
- market size can be measured by using numbers of
goods sold or total amount of sales in money value.

iv) competition level

who are the competitors?
- Are there any similar (or substitute) products in
the market?

1) Market Research
The information collected are such as:
v) Market share
- Market share is the percentage of an industry
or market's total sales that is earned by a
particular company/ product/ brand.
Market shareSales
= of a company/ product/ brand
x 100%

Total sales in the market

2.) Major Components of a

Marketing Plan

2.1 Market segmentation & choosing the

target market
Market Segmentation is a process to categorise
the consumers with similar characteristics into
small segment. They are grouped by :

- geographic factors (area)

- demographic factors (gender, age)
- psychographic factors (preference)

2) Major Components of a Marketing

Plan
2.1 Market segmentation & choosing the
target
market cont.
Target market is the specific group of potential
customers toward which venture aims its marketing
plan.
Basic elements of choosing target market
- size of the market
- potential selling
- market share
- strengths & weaknesses of the firms

2) Major Components of a Marketing

Plan
2.2 Sales Forecast
Sales Forecast is the projection (predict) of likely
sales.
The sales forecasting is important to make
decisions e.g. - promotion mix,
- production level,
- investment in production capacity, and
- employment level required.

2) Major Components of a Marketing

Plan
2.3 Marketing Mix: Product
Product is the good/service offered to the consumers.
In product planning, entrepreneurs must consider
more than just the physical characteristics of product.
Other areas to incl. are quality, quantity, packaging,
warranty, brand name, customer service etc.

2) Major Components of a Marketing

Plan
2.4 Marketing Mix: Price
Price is usually set by considering the
objective, costs, profit margin, competition &
consumer. Price set must be able to cover
costs and generate profit for a company.
This component explains unit price (high / low
price), group price, discount, price variation,
etc..

2 Major Components of a Marketing

Plan
2.5 Marketing Mix: Promotion
Promotion is used to inform & influence
potential customers in order to increase
sales.
Promotion tools : advertisement, sales
promotion, personal selling & public relation.
Factors to consider when choosing the
promotion tools are e.g. costs, types of
promotion and products characteristics.

2) Major Components of a Marketing

Plan
2.5 Marketing Mix: Promotion cont.
The promotion section should describe:
- How to promote? (promotion tools)
- When to promote?
- Media used (e.g. t.v., newspaper, radio,
internet)
- Message convey in the promotion
- Costs incurred, etc.

2) Major Components of a Marketing

Plan
2.6 Marketing Mix: Place
Place refers to the channel of distribution that
deliver products to the end users (consumers).
Entrepreneur may choose direct channel (no
intermediates) or indirect channel (with
intermediates) to distribute the products.
The decision to choose the right channel will
depends on factors e.g. market condition,
product, cost benefits and company condition.

2) Major Components of a
Marketing Plan
2.6 Marketing Mix: Place cont.
Place section should describe:
- How to sell?
- Any intermediates needed? e.g. wholesaler,
agent, middleman, retailer..
- delivery service
- costs of distribution, etc.

Opportunity to do online sale

Watch video
1.Mamakuih
2.Byhandbyheart.com

Assignment
1.Prepare a draft of Marketing Strategies (4P) for
the product or service during the APK Expo.

Thank You