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The marketing process

Jan. 31, 2013 — Week 2, Class 2
by

Stacy Forster

on 4 March 2013

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Transcript of The marketing process

Strategic communication and the marketing process This document guides marketing efforts and
covers all elements of the marketing mix

It should include basic promotional strategies
developed as part of the business plan The marketing plan Strategic communication to selected target audiences

Forms of promotion:
Personal selling
Advertising
Sales promotion
Public relations
Direct marketing
direct mail, telemarketing
Point-of-sale Promotion Moving products to consumers
Market coverage strategy
Exclusive distribution
Selective distribution
Intensive distribution
Push vs. pull marketing
Push: demand from manufacturer to wholesaler; targeting resellers
Pull: demand from manufacturer to consumer; targeting consumers Place: distribution channels The product is defined by its design, development, branding and packaging

Every product has a life cycle
Introduction
Growth
Maturity
Decline (and, in some cases, reformulation) Product Definitions of markets
The marketing plan
The marketing concept
The four Ps (or the marketing mix) Ask Stacy at forster2@wisc.edu or @stacylf9
Office hours
10-11 a.m. Monday
5058 Vilas Communication Hall

Or ask David at coppini@wisc.edu Questions? Research
Background on product and competition
Objectives
Strategy
Assess consumer needs, differentiate the product, develop marketing mix
Implementation
Put plan into effect
Evaluation
Evaluating the plan Stages of the marketing process The product drives the marketing mix

High-involvement products like electronics emphasize personal selling and more information

Low-involvement products focus on advertising, emotional appeals and brand image Principles of the
marketing mix Sale vs. manufacturer price

Examples of pricing strategies:
Skimming strategy
Psychological pricing
Price lining

Advertising and price
Promotional costs add to price
Ads create product legitimacy, higher pricing Price Discover consumer needs
Develop a product to satisfy needs
Emphasizing existing needs is easier than trying to create them
Advertising as information rather than persuasion The marketing process:
strategic decisions Old model was a product-driven philosophy:
Make product => Figure out how to sell it

The new model, developed since World War II, involves studying consumers first:
Identify needs => Make or modify product to satisfy those needs The marketing concept Consumer
Business-to-business
Institutional
Channel Locus of exchange There are different uses of the term market
Region – Chicago, Midwest, urban areas
Type of consumer – Women, Hispanic, upscale
Type of products –snow shovels, surfboards
Locus of exchange Definitions of “market” Promotional
tactics Promotional
objectives Situation
analysis Similar model for
advertising/ promotion planning Marketing
tactics Marketing
strategy Marketing
objectives Situation
analysis Top-down marketing
planning model Push and pull strategies The marketing mix: the four Ps Product Place Price Promotion Overview Situation analysis Marketing objectives Marketing strategy Marketing tactics Situational analysis Promotional objectives Promotional strategy Promotional tactics The Coca-Cola Company Design and development
Branding
Marketing
Performance Distribution
Coverage
Storage
Psychological pricing
Price lining Advertising
Personal selling
Sales promotion
Direct marketing
Public relations JC Penney
The goal is using an understanding of consumers to set objectives and create a product

It is based on need satisfaction
Real vs. imagined needs
Rational vs. irrational needs Push Pull Knowledge Awareness Liking Preference Conviction Purchase Hierarchy of effects Maslow's hierarchy of needs Physiological Safety Belonging Esteem Self-actualization Self-
actualization Need agency name by Tuesday, Feb. 5 Start with the situation analysis, then use it to build the campaign strategy, creative, media plan, and PR and promotions Research orientation on Thursday, Feb. 7 Start to learn as much as you can about your car, the brand, the market and your consumers
PR material
Current ads and promotions
Test drives
Recent news
Social media The situation analysis is an analysis of the current state of affairs and is the foundation for your entire campaign. It should include:
Client background and history of the brand
Industry and competitive trends
A consumer analysis
Current perceptions and associations of the brand
A media usage analysis
Creative campaigns
Public opinion and stakeholder perception
SWOT Situation analysis due March 7 Account manager: brand analysis
Creative director: creative analysis
Media director: media usage
PR/Promotions director: public opinion analysis Marketing builds relationships between brands and consumers to generate sales and profits.

It is the way a product is designed, produced, branded, packaged, priced, distributed and promoted.
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