fundamentals of marketing new part[1]

8/8/2019 Fundamentals of Marketing New Part[1]

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Marketing

Buzzwords of confusion

Sales versus Marketing

Market Research &Marketing Research

Event Marketing

SWOT, PEST, KPIs,

USPs, DINKYs etc


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As Event Managers,

why is it important we understandwhat Marketing is?


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Interactive

Media

Radio

Television

OutdoorPrint

Media

Internet

Below

the line

Events

Important Part of the Marketing Tactics


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Example of Events in Marketing

The PepsiChallenge has beenan ongoingmarketing promotion

run by PepsiCo forthe last 2 decades

1980s PepsiChallenge built

around a premisethat had to beestablished live


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The challenge takes the form of a taste test. At publiclocations, a Pepsi representative sets up a table with twoblank cups, one containing Pepsi and one with Coke.

Shoppers are encouraged to taste both colas, andcorrectly identify which is Pepsi and which is Coke. If

they can correctly identify the two, they win a prize.

Example of Events in Marketing


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Events within Marketing

Marketing(A Philosophy)

Events

The Marketing Mix (Tactics)

Product Price Place Promotion People Physical

Evidence

Process


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Agenda

Marketing What is it?

The Marketing Mix

The Environment The Marketing Plan

The Promotion Focus

Events (Face to Face Communication)


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What is Marketing ?


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The agrarian economy was largely self sufficientand trade was mostly through barter

The industrial revolution in early 19th centurysuddenly created surplus putting pressure onmanufacturers to find markets that could absorbthe produce

The need for labeling the produce, brands,trademarks and patents gradually began to

come in Mid 19th Century traveling salesman to

organized distribution

Marketing History


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The Sales Era lasted till the 2nd world war

Post war boom started the consumeristwave money in the hands of people, andlarger number of enterprises makingsimilar products

Product proliferation made business very

competitive It was this that paved the way for

Marketing

Marketing History


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Orientation Stages

Production Oriented

Firms tend to manufacture and offergoods that they are good at producing

Sales OrientedThe Hard Sell, firms now realise thatdue to competition the goods have tobe sold. Sales volume becomes themost important criterion

Marketing Oriented

The firm ascertains the genuine needsand wants of specifically defined targetmarkets and then produce goods andservices that satisfy the customerrequirements


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Marketing Some Descriptions

Marketing is a human activity directed at

satisfying human needs and wants

through exchange process

The customer is always right

The right product, in the right place, at the

right time, at the right price


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Marketing Definitions

Marketing is the management process whichidentifies, anticipates and supplies customerrequirements efficiently and profitably

Chartered Institute of Marketing

Marketing is the process of planning andexecuting the conception, pricing, promotion,

and distribution of ideas, goods and services tocreate exchanges that satisfy individual andorganizational objectives

American Marketing Association


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Sales process beginswith the producer

Based on what theproducer can make

Seller defines the price

Focus on finding buyersand selling them anyhow

The sale is the end of thetransaction

Product attributes static,as long as it sells

Marketing begins with theconsumer

Based on consumer needsand wants

Market demand decides

Focus on matching consumer

needs with product attributes The sale is the beginning of

the transaction relationship

Products must adapt to

changing customer trends


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Marketing is involved with the planning of

the presentation of the firms capabilities;

whereas Sales is the execution of the transfer or

exchange of the product, good or

service.


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Marketing is a strategic function and has anumber of tactical activities, of which selling isone.

The primary function of sales is to find andclose leads, turning prospective customers inactual ones

Sales definitionIncome (at invoice values) received for goodsand services over some given period of time


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Presentation Status

Marketing What is it?

The Marketing Mix

The Environment The Marketing Plan

The Promotion Focus

Events (Face to Face Communication)


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The Marketing Mix


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The Marketing Mix The 4 Ps

The variables that the marketing manager can control in

order to best satisfy customers in the target market

Target

Market

2. Price

1. Product

4. Promotion

3. PlaceThe physical product

or service offered to

the consumer.

Channels of distribution

to get the product to the

consumer.

Producer-Wholesaler-

Retailer-Customer

Financial aspects of the

process; price levels,

profit margins etc.

The communication and

selling to potential

customers


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The Extended Marketing Mix

5. People

Employees are in direct

contact with customers

and therefore must be

considered the in the

developing the

marketing mix


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6. Physical Evidence

Service has an

intangiblecharacteristic, thereforeimportance is placed onmore tangible elementsof the service mix such

as facilities andequipment.


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7. Process

How the service is

provided is important.Procedures for dealingwith customers at thepoint of contact, and the

supply of a consistentquality service must bepre-planned andmanaged

fundamentals of marketing new part[1]

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