Week 1

Marketing Principles and Strategies

 Objectives
• Define and understand Marketing
• Enumerate the Importance of Marketing
• Describe the Traditional Approaches to
Marketing
 Marketing
• Is the process of planning and executing the conception, pricing,
promotion, distribution of ideas, goods and services to create
exchanges that satisfy individual and organizational goals
• An exchange process or discipline that involves strategies, activities,
positions and institutions
• Activities of a company associated with buying and selling of
products and services
• A process by which a product or services is introduced or promoted
to potential customers
• The activities that are involved in making people aware of a
company’s product, making sure that the products are available to
be bought
• Technique of promoting, selling, and distributing of products and
services
 History of Marketing
• Is the paradox(made up of two opposite things or
impossible but actually possible) which is not
known to many and it is the world’s oldest
profession, but at the same time relatively the
newest discipline of learning
• Referred to as trade, commerce or distribution
• Establishment of market economy wrought
marked changes in the social and economic
structure
• Historical accounts of trade lead one to conclude
that marketing has always existed
 Earlier Theories Relevant to
Marketing Thought

• It began early in the twentieth century

• Early students of marketing were actualy
educated as economist
 Market
• By 1900 it was found that demand consisted of
more than simple purchasing power
• Capacity to adjust itself automatically to
harmonious equilibrium
• Concept of elasticity of demand(Alfred Marshall)
• It reflected desire as well as ability to purchase,
and new experiences with advertising and
salesmanship were proving that desire could be
increased and molded by factors other than the
mere existence of supply.
 Value Theory
• Economists leaned heavily upon input factors,
determining their relative quantities and
prices.
• Economists also distinguished in their value
theories value in-use and value in-exchange
Adam Smith
 Production
• In the eighteenth century, productivity was held by the
physicocrats to be the production of a surplus over
costs.
• Concepts of production included: diminishing returns
3 marginal productivity opportunity costs and the
representative firm.
Adam Smith conceived man as „the economic man‟
bent upon a constant effort to better his condition.
Ricardo foresaw the uncertainties of an expanding
economy. He viewed a growing disparity of interests in
the rising factory system.
• Alfred Marshall perceived basic cooperation
among all parties through the system of
markets. His viewpoint, insofar as he
emphasized the short run, tended to coincide
with the interests of businessmen.
 Consumer
• Those people, individuals
 Enlargement of the Market
Industrial Revolution, new importance was
attached to information, promotion, and the quest
for satisfactory products.
Extended markets gave the opportunity for
production on a scale larger than had ever before
been undertaken.
The rapid transition from an agricultural economy
to an industrial economy at the end of the century
poured into the market such quantities of products
as to warrant the conclusion that a buyers’ market
was replacing a sellers’ market.
Traditional Approaches of Marketing:
• Traditional marketing is a rather broad
category that incorporates many forms of
advertising and marketing. It's the most
recognizable type of marketing, encompassing
the advertisements that we see and hear
every day.
Four Categories:
print, broadcast, direct mail, and telephone.
• Print marketing is the oldest form of traditional
marketing. Loosely defined as advertising in paper
form, this strategy has been in use since ancient times,
when Egyptians created sales messages and wall
posters on papyrus.
• Broadcast marketing includes television and radio
advertisements. Radio broadcasts have been around
since the 1900s, and the first commercial broadcast—a
radio program supported by on-air advertisements—
aired on November 2, 1920. Television, the next step in
entertainment technology, was quicker to adopt
advertising, with less than ten years between its
inception and the first television commercial in 1941.
• Direct mail marketing uses printed material like
postcards, brochures, letters, catalogs, and fliers sent
through postal mail to attract consumers. One of the
earliest and most well-known examples of direct mail is
the Sears Catalog, which was first mailed to consumers
in 1888.
• Telephone marketing, or telemarketing, is the
practice of delivering sales messages over the phone to
convince consumers to buy a product or service. This
form of marketing has become somewhat controversial
in the modern age, with many telemarketers using
aggressive sales tactics.
 Traditional Marketing Strategies and
the 4P’s–or are there five?
• Product,
• Promotion
• Price
• Place
• People
 Advantages of Traditional Marketing
Identifying and understanding your target
audience is still the key to marketing success
Audience segmentation segment components:
audience composition
buying behavior
geography
events
 Traditional Marketing 2013
• This traditional marketing approach is often
referred to as “push” marketing.
• Promotions and offers are still important
pieces in the marketing mix, but in 2013,
content is a new form of currency. Instead of
relying solely on coupons and price discounts,
marketers can offer valuable information that
consumers will find relevant and engaging.
 Strategic Marketing Solutions
• Identify your target audience.
• Creating relevant content that will
optimized the customer experience.
• Select channels for delivery including Email
and/or Direct Mail.
• Develop a variety of marketing materials for
the selected channels
• Test messages and then measure results.
 How is a traditional Marketing Plan
Developed & Employed?
• The first step in developing a plan is to choose print,
broadcasting, direct mail, or telemarketing.
• For print and broadcast marketing, the business must
arrange to purchase advertising space.
• Direct mail and print campaigns require graphic design and
copywriting. For telemarketing, the advertisers write a
script for the sales representatives (or outsourced
telemarketing company) to follow. Radio ads may be either
produced and pre-recorded, or scripted and read by on-air
personalities. Finally, television commercials can either be
written by the marketing department and produced in-
house, or contracted out to production companies.
 Career in Marketing
Brand manager is responsible for planning, developing,
and directing the marketing efforts for a particular
product or brand.
Brand Managers Responsibilities:
-coordinate the activities for a team of marketers
involved in several facets of operation, including research
and development, production, sales and advertising,
purchasing, distribution, packaging development, and
financing.
-decide on marketing strategies, conceptualize and
oversee marketing campaigns, and control the brand’s
public image through advertising.
 Career in Marketing

Qualification for a Brand Manager

four-year bachelor's degree in marketing or
advertising.
 Career in Marketing
Advertising Sales Director manage the entire
advertising strategy of a company from all
directions, including business, sales, and
technical perspectives. Typically, in charge of a
team of sales representatives, these high-
ranking managers oversee the development of
sales materials, campaign implementation, and
advertising budgets and projections. Education
 Career in Marketing

Qualifications for Advertising Sales Director

a. hold a four-year bachelor's degree in
marketing, sales, or advertising, and typically
needs a minimum of 10 years’ experience in
sales and marketing.
 Career in Marketing
Media Director typically works at an advertising
agency that develops and implements marketing
strategies for other companies
*manage the purchase of print space and
broadcast time for clients.
• market research and statistical models.
• working with media sales representatives to
place the advertisements.
 Career in Marketing
Education and Experience
A four-year bachelor's degree in sales,
marketing, or advertising is required to become
a media director. As with most management-
level marketing professionals, a media director
also needs at least 5 years of field experience,
with a proven record of results.
 Career in Marketing
Earning a degree through a marketing program
provides the knowledge and skills required to
effectively use traditional marketing techniques
-- from print to broadcast.
Marketing Goals and Objectives
Increase sales
Build brand awareness
Grow market share
Launch new products or services
Target new customers
Enter new markets internationally or locally
Improve stakeholder relations
Enhance customer relationships
Improve internal communications
Increase profit
 Developing SMART Marketing
Objectives:
A SMART objective is always:
Specific
Measureable
Achievable
Realistic
Time-bound
The purpose therefore of setting SMART objectives
is to clarify where you want to be, providing a
measurable objective that can be monitored and
plans developed to help meet the business goals.
 Marketing objective examples
To increase the number of enquiries from our
marketing communications activities by 15% by
the end of the year
To increase sales by 20% within 18 months
 Glossary
Cross-media marketing: A form of cross-promotion in which
promotional companies commit to surpassing traditional
advertisement techniques and decide to include extra appeals to the
products they offer. The material can be communicated by any mass
media such as e-mails, letters, web pages, or other recruiting sources.
Direct - Mail marketing: A marketing effort that uses a mail service to
deliver a promotional printed piece to your target audience. Direct
mail encompasses a wide variety of marketing materials, including
brochures, catalogs, postcards, newsletters and sales letters.
Telemarketing: (sometimes known as inside sales or telesales in the
UK and Ireland) A method of direct marketing in which a salesperson
solicits prospective customers to buy products or services, over the
phone or through a subsequent face to face or Web conferencing
appointment scheduled during the call.