Marketing Principles and Strategies

DEFINITION OF MARKETING

 Marketing is the business process of creating

relationships with customers and satisfying them.
WHAT IS MARKETING?

Marketing is a business process.

 Marketing involves:
 Researching
 Promoting
 Selling
 and distributing your products or services.
Marketing is a business process:

1) Researching

 The process of gathering, analyzing and interpreting information about a

market, about a product or service to be offered for sale in that market, and
about the past, present and potential customers for the product or service.

 Characteristics, spending habits, location and needs of your business's target

market, the industry as a whole, and the particular competitors you face.
Marketing is a business process:

2) Promoting

 refers to any type of marketing communication used to

inform or persuade target audiences of the relative
merits of a product, service, brand or issue.
 The aim of promotion is to increase awareness, create
interest, generate sales or create brand loyalty.
Marketing is a business process:

3) Selling

 is a transaction between the seller and the prospective

buyer or buyers where is exchanged for goods or
services.
Business process of marketing:

4) Distributing your products or

services.

 Distribution is the process of making a product or

service available for the consumer or business user
who needs it.
WHAT IS MARKETING?

Marketing is a business process.

 Marketing involves:
 Researching
 Promoting
 Selling
 and distributing your products or services.
 DEFINITION OF MARKETING

Marketing is the business process of creating

relationships with customers and satisfying them.
 DEFINITION OF MARKETING

Marketing is the business process of creating

relationships with customers and satisfying them.
 DEFINITION OF MARKETING

Marketing is the business process of creating

relationships with customers and satisfying them.
Marketing creates relationships
with customers

 Building relationships is key to learning your

customers’ needs.
 To create customer relationships, and keep them
strong, you must do all you can to engage customers.
 Here are five ways to build customer relationships and
keep them coming back.
HOW TO CREATE RELATIONSHIPS WITH CUSTOMERS?

1) Communicate

 Rather than just telling customers about your business,

have conversations with them.
 Find out what your customers need, then show them that
you have a solution to their problem.
HOW TO CREATE RELATIONSHIPS WITH CUSTOMERS?

2) Exceed expectations

 Impress your customers so that they will keep coming back.

 For example, you can deliver a product or service faster
than anticipated.
HOW TO CREATE RELATIONSHIPS WITH CUSTOMERS?

3) Ask for feedback.

 Customer feedback helps you hone your customers’ specific

needs so you can find the best solutions to their problems.
 The better your offering meets their needs, the more your
business will grow.
HOW TO CREATE RELATIONSHIPS WITH CUSTOMERS?

4) Connect

 With technology, there are more ways to begin

conversations with your customers than ever before.
 There are many online tools and social media outlets you
can use to reach customers.
HOW TO CREATE RELATIONSHIPS WITH CUSTOMERS?

5) Show appreciation

 Reward long-time customers with a loyalty discount

program.
 You can hand out reward cards, or use a loyalty
program app to track customer rewards.
 HOW TO CREATE RELATIONSHIPS WITH
CUSTOMERS?

1. Communicate
2. Exceed expectations
3. Ask feedback
4. Connect
5. Show appreciation
 DEFINITION OF MARKETING

Marketing is the business process of creating

relationships with customers and satisfying them.
Marketing Satisfies Customers’
needs and wants

 Fulfilling the consumer needs start with

understanding what your product does and how it
helps people.
Lesson:
 DEFINITION OF MARKETING
 Marketing is a business process.
 Researching

 Promoting

 Selling

 Distributing your products or services.

 Marketing creates relationships with customers
 Communicate

 Exceed expectations

 Ask for feedback

 Connect

 Marketing Satisfies Customers’ needs and wants

 TRADITIONAL APPROACHES OF MARKETING

Traditional Marketing Approach
 Traditional marketing is a rather broad category that
incorporates many forms of advertising and
marketing.
 It's the most recognizable types of marketing,
encompassing the advertisements that we see and hear
every day.
 Most traditional marketing strategies fall under one of
four categories: print, broadcast, direct mail, and
telephone.
Traditional Marketing Approach
Printed:
Includes advertisements in
newspapers, newsletters,
magazines, brochures, and
other printed material for
distribution.
Traditional Marketing Approach

Broadcast:
Includes radio and television
commercials, as well as
specialized forms like on-
screen movie theater
advertising.
Traditional Marketing Approach
Direct mail:
Includes fliers, postcards,
brochures, letters, catalogs,
and other material that is
printed and mailed directly
to consumers.
Traditional Marketing Approach

Telemarketing:
Includes requested calling
and cold calling of
consumers over the phone.
Traditional Marketing Approach