MARKETING SHORT NOTES

WHAT IS MARKETING 

Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others.

5 Ps of Marketing

• Product
• Promotion
• Pricing
• Place (or distribution system) 
• People

MARKETING – MANAGEMENT PROCESS

• Analysis/Audit - Analysis/Audit - where are we now? 
• Objectives - Objectives - where do we want to be? 
• Strategies - Strategies - which way is best? 
• Tactics - Tactics - how do we get there? 
• Implementation - Implementation - Getting there! Getting there! Control 

WHAT DO WE MARKET

• Goods
• Services
• Events
• Experiences 
• Personalities
• Place
• Organizations
• Properties 
• Information 
• Ideas and Concepts

MARKETING – PRODUCT

PRODUCT 

Anything that is offered to the market for attention, acquisition, use or consumption that satisfies a want or a need. 

PRODUCT LIFE CYCLE 

1.Product development - sales are zero, investment costs are high

2.Introduction - profits do not exist, heavy expense of product introduction

3.Growth - rapid market acceptance and increasing profits

4.Maturity - slowdown in sales growth. Profits level-off. Increase outlay to compete

5.Decline - sales fall-off and profits drop

MARKETING – PROMOTION

PROMOTION 

Anything that is offered to the market for attention, acquisition, use or consumption that satisfies a want or a need.

PROMOTION MIX 

• Personal Selling
• Telemarketing 
• Direct Mail 
• Trade Fairs and Exhibitions
• Commercial Television
• Newspapers and Magazines
• Radio
• Cinema
• Point of Sale Displays
• Packaging

PROMOTION DECISIONS

• Elements in the Communication Process
• Promotions Mix
• The promotions Message 
• Executions Style
• Media Choice?
• Promotional Objectives

PROMOTIONAL OBJECTIVES

• To Support Sales Increases
• To Encourage Trial
• To Create Awareness
• To Inform about a Feature or Benefit
• To Remind To Reassure
• To Create an Image
• To Modify Attitudes

WHAT IS MARKETING STRATEGY 

1.Systematic futuristic thinking by management 

2.Better co- Better co-ordination of company efforts 

3.Development of better performance standards for control 

4.Sharpening of objectives and policies 

5.Better prepare for sudden new developments 

6.Managers have a vivid sense of participation

CONTENTS OF MARKETING PLAN  

• Business Mission Statement  
• Objectives  
• Situation Analysis (SWOT)  
• Marketing Strategy 

       1. Target Market Strategy 

       2. Marketing Mix 

      3. Positioning 

      4. Product 

      5. Promotion 

      6. Price 

      7. Place – Distribution 

      8. People 

      9. Process

E - MARKETING 

eMarketing is the process of marketing a brand using the Internet.It includes both direct includes both direct response marketing and indirect marketing elements and uses a range of technologies to help connect businesses to their customers.

E - MARKETING 

• Public Relation 
• Sales promotion
• Brochureware
• Direct selling
• Customer relationship marketing
• Market research
• Managing supplier relationships

ADVANTAGES OF E - MARKETING  

• Selling goods and services online.  
• Additional customer service.  
• Saving overhead costs.  
• Exciting and sizzling means of visual impact.  
• Every hit could gain a potential customer.  
• Print and mailing costs are lower.  
• Reduction in order processing and handling costs.
• Enhanced after sales service.  
• Distribution of digital products via the web.  
• Get closer to the customer.