MARKETING

Is it all marketing?

ADVERTISING PR

MARKET RESEARCH R&D

BRANDS PROMOTION

4Ps MARKET SEGMENTATION

PRODUCT LIFE CYCLE

How to define marketing?

KEY WORDS?

Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services. (Kotler)

How to define marketing?

KEY WORDS

Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services. (Kotler)

SIMPLE QUESTIONS? More definitions? (MK: p.64)

So, what simple questions does marketing answer?

Marketing identifies unfulfilled needs and desires.e.g. WHAT DO PEOPLE NEED AND WANT?

It defines, measures and quantifies the size of the identified market and the profit potential.

e.g. HOW MANY PEOPLE MAY BUY THIS?HOW MUCH CAN WE EARN?

It pinpoints which segments the company is capable of serving best ...

e.g. WHAT CAN WE BE BEST AT? FOR WHOM? ...and it designs and promotes the appropriate products and

services. (Kotler) e.g. HOW SHALL WE ACHIEVE IT?

Which parts of the definition below do these terms belong to?

ADVERTISING, PR, MARKET RESEARCH, R&D, BRANDS, PROMOTION, 4Ps, MARKET SEGMENTATION, PRODUCT LIFE CYCLE

Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services. More definitions? (MK: p.64)

PRODUCTS

product, product line, product mixproduct life cycle

brand, branding, brand recognition, b.awareness

corporate b., individual b., B2B, B2Cmulti-brand strategy, brand cannibalization, brand

switchers

PRODUCTS

1. What is a product?2. What can also be considered as products?3. What do most manufacturers divide their

products into?4. Why are companies always looking to the future,

and re-evaluating their product mix?5. What is a brand?6. How can a brand name be reinforced? (What

can it be reinforced by?) MK: pp.60/61

PRODUCTS

7. What is the key objective to branding?8. How can companies achieve brand

recognition among the general public?9. What is branding used for?10.What does a multi-branding strategy allow

companies to do?

The advertising agency or the client company? Who does what?

• ... creates advertisements.

• … gives a set of the objectives of the advertising campaign (a brief), an overall advertising strategy, and a budget.

• … develops a media plan

What words do the numbers stand for?

BUDGET/AGENCY/ MARKETING/CUSTOMERS

• Advertising informs 1 about the existence and benefits of products and services, and attempts to persuade them to buy them. Large companies could easily set up their own 2 departments, but they tend to hire the services of an 3.

• The client company decides on its advertising 4, which is the amount of money it plans to spend in developing its advertising and buying media time and space.

Based on MK (2010):p.69/70

What words do the numbers stand for?

BUDGET/AGENCY/ MARKETING/CUSTOMERS

• Advertising informs CUSTOMERS about the existence and benefits of products and services, and attempts to persuade them to buy them. Large companies could easily set up their own MARKETING departments, but they tend to hire the services of an AGENCY.

• The client company decides on its advertising BUDGET, which is the amount of money it plans to spend in developing its advertising and buying media time and space.

Based on MK (2010):p.69/70

What words do the numbers stand for? BRIEF, CAMPAIGN TARGET, MEDIA PLAN, WORD-OF-MOUTH, VIRAL, BUDGET

• The client company also provides a 5, or a statement of the objectives of the advertising, as well as an overall advertising 6. The choice of how and when to advertise, and in what proportions, is called a 7. The set of customers that a company wants to expose to an advertisement are known as the 8 market.

• The advertising of a particular product or service during a particular period of time is called an advertising 9. However, the best form of advertising has always been 10 advertising which today has been much used in 11 marketing.

MacKenzie (2010):p.69-70

What words do the numbers stand for? BRIEF, CAMPAIGN TARGET, MEDIA PLAN, WORD-OF-MOUTH, VIRAL,

BUDGET

• The client company also provides a BRIEF (a statement of the objectives of the advertising), as well as an overall advertising BUDGET. The choice of how and when to advertise, and in what proportions, is called a MEDIA PLAN. The set of customers that a company wants to expose to an advertisement are known as the TARGET market.

• The advertising of a particular product or service during a particular period of time is called an advertising CAMPAIGN. However, the best form of advertising has always been WORD-OF-MOUTH advertising which today has been much used in VIRAL marketing.

Based on MacKenzie (2010):p.69-70

Find answers in MK:p.67 (optional)

1. 3 types of schools of marketing? Slogans? 2. Old approach? Problem?3. Link between pg.5 and pgs. 1-3?4. Marketing today?5. 2 mistakes?

A few additional questions

1. What makes a product line (3 conditions)?2. 3 historical approaches in marketing? From ... -driven, to ...

–driven, and today, to ... –driven companies? 3. Find a section in MK dealing with the following:

a) (v)... a price, (v) ... a priceb) opposite of “round price”c) term for “competing with as low prices as possible”

4. Name some specific advertising/sales promotion strategies.5. What market research methods are mentioned in MK?

Vocabulary RevisionMK: U 11-13

ProductsMarketingAdvertising

Missing words?

Missing words?

Missing words?

Verbs → Nouns

• To persuade customers →• To persuade customers → C. PERSUASION

Verbs → Nouns • To persuade customers → C. PERSUASION• To segment the market →• To penetrate the market →• To skim the market →• To differentiate a product →• To liquidate stock →• To discontinue a product →• To withdraw a product →• To distribute a product →• To try a product the first time →• To promote a product →• To launch a product →

Verbs → Nouns • To persuade customers → C. PERSUASION• To segment the market →M. SEGMENTATION• To penetrate the market →M. PENETRATION• To skim the market → M. SKIMMING• To differentiate a product → P. DIFFERENTIATION• To liquidate stock → S. LIQUIDATION• To discontinue a product → P. DISCONTINUATION• To withdraw a product → P. WITHDRAWAL• To distribute a product → P. DISTRIBUTION• To try a product for the first time → INITIAL TRIAL• To promote a product → PROMOTION• To launch a product → PRODUCT LAUNCH

How to speak about advertising in a coherent manner? (MK)

• Advertising is ...• The process can be described as follows: first, ...,

second, ..., and finally, ...• One important issue advertisers may have a

dilemma about is ... They may choose either to ... or to ...

• New forms of advertising try to avoid the disadvantages of traditional advertising. For example, ... will benefit from ... . In other words, .... will avoid traditional problems such as ...