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Transcript of Marketing
It's about getting your prospects to
see you as the only one that provides a solution to their problem.
The objectives that a good brand will achieve include:
Delivers the message clearly
Confirms your credibility
Connects your target prospects emotionally
Motivates the buyer
Concretes User Loyalty
Direct or indirect sales channels
Single or multiple channels
Types of intermediaries
Number of intermediaries at each level
Which companies will be intermediaries to avoid
III. Market Segmentation
Percent of sales
What customers want
How customers use the product
How to reach customers
IV. Selected Marketing Strategies and Marketing Mix
Profit is the difference between what it costs to make or buy your product and what you earn from selling it.
Other measurements are:
Gross profit= sales revenue- COGS
Net profit= gross profit-taxes and interest
Profit margin=gross profit/sales revenue
Markup=sales price-cost to produce/cost to produce
ROI= profit-investment cost/investment cost
Measures a company’s performance relative to its competitors by the proportion of the market the company is able to capture.
Market Share = Firm’s Sales / Total Market Sales
Reasons to Increase market share:
Economies of scale- produces cost advantage
Sales growth in slow growth market
Increased bargaining power
How companies communicate with their buyers:
Trade Fairs and Exhibitions.
I. The Challenge
II. Situation Analysis:
Macro Environmental: PEST and SWOT analysis
“Marketing is getting customers and potential customers to perceive the value of what you offer.” Steven D. Strauss
Marketing is an organizational function for:
- "Identifing unfulfilled needs and desires.
- Defining, measuring and quantifing the size of the identified market and the profit potential.
- Designing the appropriate products and services and promoting them."
What is Marketing Management?
The marketing strategy and marketing mix will
depend a great deal on what stage of life the product is in.
Product Life Cycle
Marketing Mix Decisions
Controllable variables used by marketing managers to try to obtain the desired level of sales in the target market.
The 4 P’s of marketing.
The Marketing Mix
Short Life Cycle
Long Life Cycle
Life Cycle Depends On
Type of product
Levels of competition
New to the market; heavy promotion required.
Cashflow may be a problem, as well as under capacity production.
Sales may be rising and profits made
Efficiencies in production
Competitors may appear!
Promotion is still required
Cashflow will be positive and profits will be made
Money from mature products will be invested in stars or question marks
As sales start to decline, we need to decide:
Wait for competitors to withdraw their products in order to get their sales
Use extension strategies to revitalize the product and increase sales: re-packaging, discounts, re-branding and going into new markets or market segments
Earning over 100K a year
University or graduate degree
Wants to pass his wealth to his children
North east coast in the USA
Lives in cities
Over 500,000 inhabitant
Purchased for a special occasion
Mainly motivated by status and beautiful design
Wears it daily
Wants children to inherit