MARKETING

What is marketing?

Finish the sentence:

Marketing is...

Aim of marketing is:consumer develop needs goals price

• To ____ products that will satisfy the _____of the consumers

• ____ them right • let the _____ know about the existence of the

product• doing all of this to reach the ____ that the

organization set out for itself

Aim of marketing is:

To develop products that will satisfy the needs of the consumers

Price them right let the consumer know about the existence of

the productdoing all of this to reach the goals that the

organization set out for itself

• Can you give some examples of products you use that you didn’t know you wanted until someone produced them?

• (Google, Facebook, eBay)

Marketing is......• Customers needs things

• Marketing means anticipating and creating ________: producing useful _________ __________ didn’t know they wanted until you produced them.

Marketing is......

• Marketing means anticipating and creating needs: producing useful things customers didn’t know they wanted until you produced them.

Selling concept vs. Marketing concept• Fill in the missing words: wants buy persuaded fill sold make sell • The “selling concept” assumes that resisting consumers

have to be ________ by energetic hard-selling techniques to ______ non-essential goods or services. Products are _____ rather than bought.

• The “marketing concept”, on the contrary, assumes that the producer’s task is to find _____and _____ them. You don’t ______ what you make, you ______ what will be bought.

Selling concept vs. Marketing concept

• The “selling concept” assumes that resisting consumers have to be persuaded by energetic hard-selling techniques to buy non-essential goods or services. Products are sold rather than bought.

• The “marketing concept”, on the contrary, assumes that the producer’s task is to find wants and fill them. You don’t sell what you make, you make what will be bought.

TARGETING & POSITIONING

• To whom?• Price?• Where?• How is it different from other products or

services?

1. Targeting

market segmentation

gender, age, income, lifestyle, level of education, location, marital

status, culture

marketers will choose their target market = segment of the market they want to aim for

= process called targeting

niche marketing

• companies concentrate their efforts on a small segment of the market

E.g. groups of customers whose needs are not being met at the moment

(Bio&Bio chain of healthy food)

What else marketers do?

• carry out/do/conduct market research or customer research to identify needs of the target market

• try to predict new trends and crazes in advance

• create needs that do not exist yet

2. Positioning

Are you the newest? The best?The cheapest? The most convenient?

The best value? The coolest?The most prestigeous?

Do you offer the most features?

Decide on a positioning strategy

• top-of-the-range, value for money, more or less reliable than the competing brand, etc.

• how customers see the product compared with the other brands on the market

Marketing mix• basic product is developed - product is adjusted

to the needs of the target market• the marketing mix (four Ps) is set 1. helps get the right product 2. at the right price 3. through the right distribution channels or place

to the right customers4. This helps choose the right communication

channels or promotion

4. Promotionthe way a business communicates with its customers

(which communication channel is used)

Four main promotional tools: 1. sales promotions2. personal selling3. public relations and sponsorship4. Advertising

For services three more Ps can be added:

• People - behaviour of a salesperson • Process - method or system of offering a

service (how: sales, after-sales service)• Physical evidence - where the service is

delivered from

Brands

• https://www.youtube.com/watch?v=sQLlPC_alT8

Four marketing Ps

• https://www.youtube.com/watch?v=JIirzTdaey4

History of advertising1.

http://www.youtube.com/watch?v=b7c27ikbR20