1 / 53

Evolution of Marketing in Business: Strategies for Success

Understand the core of marketing, from stakeholder management to segmentation, targeting, positioning, and internal influences on objectives. Learn about marketing mix strategies and the impact of marketing on society, consumers, and the environment.

mirandaw
Download Presentation

Evolution of Marketing in Business: Strategies for Success

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Marketing Your Brand UNIDO ITPO Bahrain NiveditaDhadphale +973 3633 5000 nd@consultnivs.com

  2. What is Marketing • Marketing is the management process responsible for the identifying, anticipating and satisfying of customer requirements profitably (CIM2012) • Marketing consists of individual and organisational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas (Dibb et al, 2005) • As organisations try to achieve satisfied customers, so it could be argued that the simplest definition of marketing is “Common Sense applied”

  3. The Evolution of Marketing

  4. The Evolution of Marketing

  5. What is a stakeholder?

  6. Segmentation

  7. Segmentation, targeting and positioning

  8. Targeting • Targeting is the development of a marketing mix which can then be directed at a particular segment

  9. Segmentation, targeting and positioning • Positioning – how an organisation and customers see a product in comparison with other similar products

  10. Segmentation, targeting and positioning

  11. Positioning Statement

  12. Marketing’s Cross Functional Role • Marketing Orientation • Where a business focuses on customer needs and wants to build long term relationships. • Role manifests itself in the following; • Information is shared • Common goal setting • Clear company policies • Marketing becomes a service provider • Marketing contributes to strategic planning and strategy • Internal marketing

  13. Internal Marketing • Encourage atmosphere of pride • Provide suitable vehicles in innovation • Improve lateral communication • Cut down layers of hierarchy • Increase available information • Ensure that leadership is aware of its limited perspective

  14. Internal Marketing

  15. Impact of Marketing on Society, Consumers and Environment Corporate Social Responsibility (CSR); theory that organisations consider the community and society in which they work as well as customers and profits

  16. Relationship vs transactional marketing Relationship marketing: the development and management of a long-term relationship with customers, suppliers and distributors, moving from attracting to retaining.

  17. Relationship vs transactional marketing • Retaining customers is cheaper than recruiting new ones • Customer defection is damaging to the company • Customer loyalty leads to long-term stability and growth • Technological advances aid in meeting customer needs more effectively • Customers should be judged on their lifetime value • Small changes in retention rates have large effects on future revenues.

  18. Setting Objectives

  19. Internal Influences on objectives • Corporate influences • Resource constraints • Aspirations of staff members

  20. External Influences on objectives

  21. The Marketing Mix Marketing Mix the core of marketing. It is traditionally expressed as either the 4Ps (product, price, place and promotion) or &Ps (the 4Ps plus people, process and physical evidence). Services a set of benefits which satisfy needs and wants but are not tangible – they are intangible and non-physical such as travel, medical care or consultancy.

  22. The 4 Ps

  23. The 4 Ps

  24. The 7 Ps

  25. The 7 Ps

  26. Promotion • Promotion – can also be called “promotional mix” and consists of many different communication methods to tell potential customers about the products on offer, where to find them and what price. • Where it is available • What it can do for them • How much it might cost

  27. Advertising • Advertising – is any “paid form of non-personal presentation and promotion of ideas, goods or services by any identifiable sponsor” (American Marketing Association)

  28. Public Relations • Public Relations is a planned and sustained set of communications established t gain and maintain goodwill and understanding between the organisation and its markets

  29. Public Relations

  30. Sales Promotion • Sales Promotion is a range of techniques designed to add value and achieve specific sales or marketing objectives

  31. Direct Marketing • Direct marketing range of is “The planned recording, analysis and tracking of customer behaviours to develop relational marketing strategies” (Machattie 2010)

  32. Ambient Advertising

  33. Word of Mouth

  34. Product Placement

  35. Physical vs Service Products

  36. Physical vs Service Products

  37. Adoption Model

  38. Pricing Methods

  39. Pricing Methods – Promotional Pricing Promotional Pricing price based around a promotion in the short term.

  40. Brand

  41. Integrated Marketing Communications

  42. Summary

More Related