MarketingMarketing

Promote the Promote the businessbusiness

Establish and Establish and adjust the adjust the marketing mixmarketing mix © John

Loftus

Marketing Marketing viewpointsviewpoints

Social viewpointSocial viewpoint Economic Economic viewpoint viewpoint Management Management viewpointviewpoint

© John Loftus

Social experienceSocial experience

Marketing is a social Marketing is a social experienced where experienced where two or more parties two or more parties exchange something exchange something

of value.of value.© John Loftus

Economic functionEconomic functionBusiness performance Business performance

requires efficient exchange requires efficient exchange processes and efficient processes and efficient management of scarce management of scarce

resources.resources.

© John Loftus

Management Management processprocess

Marketing Marketing management is management is the process of the process of identifying and identifying and satisfying satisfying customers’ customers’ needs, at a profit, needs, at a profit, in an ethical way.in an ethical way. © John

Loftus

Management Management orientationsorientations

Marketing Marketing orientationorientation Production Production orientationorientation Sales orientationSales orientation

© John Loftus

Marketing mixMarketing mixManagers adjust 4 key variables:Managers adjust 4 key variables:

Products and servicesProducts and servicesPlace – (channels of distribution)Place – (channels of distribution)Promotion (communication)Promotion (communication)PricePrice

© John Loftus

Target marketTarget market

An attractive group of An attractive group of buyers to target with a value buyers to target with a value proposition that is so good proposition that is so good that people will buy.that people will buy.

Buyers may be:Buyers may be: Existing customersExisting customers Prospective customersProspective customers

© John Loftus

Marketing strategyMarketing strategy

Supply Chain

MarketingCommunication

JL

ValueProposition

© John Loftus

ActivityActivity

What is marketing What is marketing really all about ?really all about ?

© John Loftus

The Marketing MixThe Marketing Mix

Adapted from Bized www.bized.co.uk

ProductProduct

Adapted from Bized www.bized.co.uk

PlacePlace

Adapted from Bized www.bized.co.uk

PromotionPromotionMarketing Marketing

communicationcommunication

Adapted from Bized www.bized.co.uk

PromotionPromotionMarketing communicationMarketing communication

Strategies to Strategies to make the make the consumer aware consumer aware of the existence of the existence of a product or of a product or serviceservice

NOT just NOT just advertisingadvertising

Adapted from Bized www.bized.co.uk

Physical EnvironmentPhysical EnvironmentBrand ImageBrand Image

Adapted from Bized www.bized.co.uk

Physical EnvironmentPhysical Environment The ambience, mood or physical The ambience, mood or physical

presentation of the environmentpresentation of the environment Smart/shabby?Smart/shabby? Trendy/retro/modern/old fashioned?Trendy/retro/modern/old fashioned? Light/dark/bright/subdued?Light/dark/bright/subdued? Romantic/chic/loud?Romantic/chic/loud? Clean/dirty/unkempt/neat?Clean/dirty/unkempt/neat? Music?Music? Smell?Smell?

Adapted from Bized www.bized.co.uk

PricePrice

Adapted from Bized www.bized.co.uk

PricePrice

Importance of:Importance of:knowing the knowing the

marketmarketelasticityelasticitykeeping an eye keeping an eye

on rivalson rivalsImage copyright: www.freeimages.co.uk

Adapted from Bized www.bized.co.uk

Marketing strategyMarketing strategy

Supply Chain

MarketingCommunication

JL

ValueProposition

© John Loftus

Blending the marketing mixBlending the marketing mix Blend of the mix depends upon:Blend of the mix depends upon: Marketing objectivesMarketing objectives Type of productType of product Target marketTarget market Market structureMarket structure Rivals’ behaviourRivals’ behaviour Global issues – culture/religion, Global issues – culture/religion,

etc.etc. Marketing positionMarketing position

© John Loftus

The marketing The marketing processprocess

Organisation mission

Market opportunity analysis

Marketing strategy

Target market

Marketing mix•product•place•promotion•price

Implementation

Evaluation

Environ-mentalscan

Marketing objectives

Adapted from Bized www.bized.co.uk

Planning roadmapPlanning roadmap

© John Loftus