EvolutionOf Marketing

o The Trade Era

oThe Production Orientation Era

oThe Sales Orientation Era

oThe Marketing Orientation Era

oThe Relationship/value Marketing Era

oThe Social/Marketing Era

The Stages

Marketing

Communication

Advertising

Media

Marketing:

Is a management process that identifies, anticipates and satisfy consumer needs at a profit

Identify

Anticipate

Satisfy

Profit

Marketing

Identify By research findings from independent and or

in-house surveys

• Anticipate– By research and forecasts

• Satisfy– Provide the consumers with their needs using

the most effective mix of the 4P’S of marketing

The producer devices marketing programmes that will make real and prospective consumers buy more of its brand above competition

Marketing Mix

Most effective way to practice marketing is to find out first

What to be accomplished and then plan how to accomplish it. In other words you need to plan your marketing activity

This plan will constitute marketing Objectives, identification

of one or more target markets and an specific offering to serve each market

In marketing jargon this offering is called the marketing mix.

The Marketing Mix is studied under the section called tactical Marketing

This is called Tactical Marketing as it is changed all the time and the decisions taken are usually short term

Directional- such as vision, mission, objectives and Strategic- such as market, market segments, targeting and positioning are not changed in the short term

Defining marketing mix

“ Marketing Mix is the set of controllable tactical marketing tools that the firm blends to produce the response it wants in the market. The marketing mix consists of everything the firm can do to influence the demand for its product” Kotler 12th edition

Traditionally it is comprised of :

ProductPricePlace ( Placement)Promotion ( Communication)For ease of use

Mccarthy.

These elements in the Marketing Mix are in the control of the marketer.

Therefore marketing Mix is set of controllable elements ( tools) in the hands of the marketer to use to achieve desired targets.

In other words marketing Mix is used to influence the buyer in the target market to create positive responses towards the marketers product

Product itself has its own way of offering it to the Target Market. Therefore it is called the product Mix

It comprises of Variety, Design, Brand name, image, quality, features and benefits, packaging, styling, accessories, warranty, after sales services etc.

Product

Price Price should be affordable to the target market

The cost of the product is very important to decide the price. Further pricing objectives and pricing strategies also will decide the prices.

Price offer also could be called as the price Mix

It will have the suggested retail price, wholesale price, discounts, trading price, strategies, allowances, payment terms, credit etc.

Place

The product should be made available to the target market where customers could buy it conveniently.

The Place mix could have distribution channels, Channel members, market coverage, inventory ( stock) control, warehousing, order processing, transport and logistics.

Promotion

The major role of promotion is to make aware the target market that there is a product offering of this nature and develop interest, desire and action to buy the product. (AIDA)

The promotion mix includes Advertising, personal selling, Sales Promotion, Public relations, Direct marketing, etc.

Setting the communication budget are also part of the promo mix.

Key Characteristics of an Effective marketing Mix

Effective marketing Mix

Matches Customers needs

Creates Competitive advantage

Well Blended

Matches corporate resources

The mastery of the right combination of these marketing tools bearing in mind the peculiarities of the market, ultimately enables a brand achieve its objectives

Communication process

Takes a creative idea and transforms it into attention-getting advertisements designed for various media (television, radio, magazines, and others). Messages travel to audiences through various transmission devices.

a channel or medium delivers the message. Decoding occurs when the message reaches one or more of the receiver's senses. Consumers both hear and see television ads. Others consumers handle (touch) and read (see) a offer.

One obstacle that prevents marketing messages from being efficient and effective is called barrier.

Note: Barrier is anything that distorts or disrupts a message. It can occur at any stage in the communication process. The most common form of noise affecting marketing communication is clutter.

Advertising

Advertising is a form of communication for marketing and used to encourage, persuade, or manipulate an audience (viewers, readers or listeners; sometimes a specific group) to continue or take some new action.

Advertising vs. Promotion

Advertising is a one-way communication whose purpose is to inform potential customers about products and services and how to obtain them. 

Promotion involves disseminating information about a product, product line, brand, or company. It is one of the four key aspects of the marketing mix.

Advertising may be one form of promotion.

hyperlink Advertising vs. promotion.docx

MediaCommunication channels through which news, entertainment, education, data or promotional messages are disseminated. Media includes every broadcasting and narrowcasting medium such as newspapers, magazines, TV, radio, billboards, direct mail, telephone, fax, and internet.

Justification

Reach Frequency

Reach: The number of people that gets hit by your advertising expressed a percentage of the entire TG

Frequency: The average number of time that your advertisement reaches your target.

Understanding the need for advertising

Advertising

Advertising is any paid form of non personal communication by an identified sponsor and should be via a medium that is accessible to everyone

Non personal: it has to be directed to a wide number of people

Sponsor: There has to be a brand that is responsible for the exposure

Medium: It has to be channelled through a medium

Accessibility: It should be accessible to all

Brand Intention

Position my self in such a way as to:

See significant leap in brand awareness

Gain more market share and or sales volume

Continuously recruit brand loyalists

Be perceived as high quality

Be seen as reliable

command respect

Amongst its target audience

Why media?

The most persuasive creative advertisement in the world will not be effective unless:

Deliver the message to your intended target market

At the right time

In the right measure

The challenge

It has become a very though and complex task for brand in reaching their target market

Clutter: multiple brands exposing materials all at the same time

When can I expose my AD?

Competition: brands within the same category jostling for the same market

How can I expose my AD

The challenge

Increasing cost: campaign executions are becoming more expensive

How much is effective to spend

The challenge

Changing behaviours: the target audience is becoming more dynamic

How do I understand them first

The challenge

Audience Fragmentation: different blocks of groups with unique characteristics

How do I isolate and solve the peculiar problems

The challenge

The target group

A target group is the category of people that a brand intends to reach with its messages, he targets them with the hope that they respond in certain ways towards its brand when hit by those messages.

Identifying your TG

The brands fist step is to decide on what role it wants to play in the market, premium or mass market.

In most cases, a brand TG is not limited to one group of similar characteristics.

Brands scan the market and categorize the entire relevant elements into TG segments

It then treats each segment of usually distinct characteristics differently, Understanding each segments peculiar needs

The brand together with its creative unit together with help from agencies then prepare tailor made advertising solutions that addresses each of the segments

TG CharacteristicsDemographicsAge: What age or age range are my target audience

Gender : What gender am I looking at, what percentage of my TG is male or female

Numbers: What is the total size of my target audience

Religion: What are the religious believes of my target audience and prospective ones as it affects my brand

SEC (socio-Economic Class): What SEC does my target audience fall i.e. what income do they generate and how will this affect their purchasing power

LSM( Living Standard Measurement): What is the life style of my target audience

Location/Distribution: Where exactly are they and how are they distributed across the market

Psychographics/ behavioural pattern

TG Characteristics

What are their Passion points:

SportsEntertainmentLeisureSocializingFamilyCareer

How do they think?

What kind of television programmes do they watch, are they trendy or conservative, are they impulsive or objectiveAre they superstitiousAre they emotional

Summarily

The target audience characteristics are varied and dynamic, thus the need for brand managers to always be in tune with their markets and TG.

As brand solution providers through concepts/idea generation and implementations, we need to understand the brands as well as the target audience’s needs, find a meeting point where both the brand and TG interaction becomes one that can be described as ‘’A WIN-WIN SITUATION, in other wards, we should anticipate not only the TG but also the brands.

By doing this, we would have truly bridged the gap between brands and their TG by creating value and achieving our corporate goals

THANK YOU