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Introduction to Marketing
Principles Week 1
What is Marketing?
 Marketing is the activity, set of institutions and processes for
 creating, communicating, delivering, and exchanging
 offerings that have value for customers, clients, partners and
 society at large.
 It is more than just selling and advertising. A good
 understanding of the customer is inherent to successful
 marketing.
Marketing is…
 Understanding the customer, designing a strategy that
 focuses on the customer and managing customer
 relationships are all key aspects to marketing management.
Customers and the Market
 Marketing involves meeting needs, wants and demands.
- A need is when an individual feels as through they are going
  without something important.
- A want is shaped by culture, personality, understandings and
  personality.
 Consumers need to see the perceived benefits they will receive
  using the product, the features alone do not sway purchases.
 Marketers therefore need to research and identify a target
  market and the overall needs and wants presented from a group
  with some similarities.
 Marketers ensure their product and services offers perceived
  benefits that are suited to a particular market.
 When a marketer understands their customers in their target
 market , they are better able to meet the needs and wants.
 Also customers are satisfied and the business can enjoy
 continued sales and loyalty from it’s consumers.
Marketing Process…
 Once a target market has been identified through a process
  of researching and analysing data, the marketer can then
  turn attention to the relationship with the customer =
  Exchange relationship.
 A positive relationship between the seller and buyer
  increases potential for a business to retain customers.
 Transaction Marketing = applied to marketing approach
  centred on one particular sale.
 Relationship Marketing = is more customer-centred leads to
  more satisfied customers and repeat business.
 A customer driven strategy is the focal point of the marketing
  concept.
 Businesses who take consideration of marketing concept
  ensure customers are understood and all activities are
  carried out with this in mind.
A value proposition answers the
question of “Why should I buy your
product service?”

= Benefits of the purchase
= Perceptions and feelings associated with the brand
= Positioning of the product or service

** Businesses that use the marketing concept and value
proposition are focussing their activities strongly on meeting
the needs and wants of consumers.
= Strategy of marketing suggests maintaining a relationship
with existing customers is easier than finding new customers;
loyalty, retention and overall increased market share.
Marketing Management
Philosophies
 Marketing philosophies and perspectives have developed
  over the years, generally being either production or sales
  orientated.
 Production Orientation was prevalent before 1960s in Aus
  = focused on producing basic goods and services on a large
  scale in the most efficient manner.
 A Sales Orientation developed after 1960s it was
  characterised by the aggressive sales techniques utilised by
  organisations to push products on consumers – disregards
  customer needs and wants.
The Four P’s (Extended Marketing
Mix)
 Includes, product, price, promotion and Place.
1. Product =
- tangible & Non tangible features
- they have a life cycle and increase and decrease in
  popularity depending on societal, political and economic
  factors.
- Product positioning – will it be positioned as
  expensive, luxury, exclusive or conversely a budget option?
  Positioning correctly ensures no competition from a superior
  product
 Pricing =
- Takes into consideration the consumers, organisations and
  economy
- Economic conditions will also impact pricing decisions
- Product Position affects pricing
- Strategic pricing will consider the financial and marketing
  objectives of the business as well as external factors.
 Promotional =
- Is communication channel for business;
  advertising, selling, sales promotion and publicity.
- May include special offers, displays, samples and any other
  tool that will help sell the product
Place =
- Distribution of the product
- Physical movement and logistics involved in moving product
  from manufacturer along the distribution channel via the
  market to consumer.
New Marketing Landscape
 Marketing management has been influenced by
 globalisation, increased technology and strong demand for
 businesses to be ethically and socially responsible.
 Essential for consideration in marketing

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Introduction to marketing principles week 1

  • 2. What is Marketing?  Marketing is the activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large.  It is more than just selling and advertising. A good understanding of the customer is inherent to successful marketing.
  • 3. Marketing is…  Understanding the customer, designing a strategy that focuses on the customer and managing customer relationships are all key aspects to marketing management.
  • 4. Customers and the Market  Marketing involves meeting needs, wants and demands. - A need is when an individual feels as through they are going without something important. - A want is shaped by culture, personality, understandings and personality.  Consumers need to see the perceived benefits they will receive using the product, the features alone do not sway purchases.  Marketers therefore need to research and identify a target market and the overall needs and wants presented from a group with some similarities.  Marketers ensure their product and services offers perceived benefits that are suited to a particular market.
  • 5.  When a marketer understands their customers in their target market , they are better able to meet the needs and wants. Also customers are satisfied and the business can enjoy continued sales and loyalty from it’s consumers.
  • 6. Marketing Process…  Once a target market has been identified through a process of researching and analysing data, the marketer can then turn attention to the relationship with the customer = Exchange relationship.  A positive relationship between the seller and buyer increases potential for a business to retain customers.  Transaction Marketing = applied to marketing approach centred on one particular sale.  Relationship Marketing = is more customer-centred leads to more satisfied customers and repeat business.
  • 7.  A customer driven strategy is the focal point of the marketing concept.  Businesses who take consideration of marketing concept ensure customers are understood and all activities are carried out with this in mind.
  • 8. A value proposition answers the question of “Why should I buy your product service?” = Benefits of the purchase = Perceptions and feelings associated with the brand = Positioning of the product or service ** Businesses that use the marketing concept and value proposition are focussing their activities strongly on meeting the needs and wants of consumers. = Strategy of marketing suggests maintaining a relationship with existing customers is easier than finding new customers; loyalty, retention and overall increased market share.
  • 9. Marketing Management Philosophies  Marketing philosophies and perspectives have developed over the years, generally being either production or sales orientated.  Production Orientation was prevalent before 1960s in Aus = focused on producing basic goods and services on a large scale in the most efficient manner.  A Sales Orientation developed after 1960s it was characterised by the aggressive sales techniques utilised by organisations to push products on consumers – disregards customer needs and wants.
  • 10. The Four P’s (Extended Marketing Mix)  Includes, product, price, promotion and Place. 1. Product = - tangible & Non tangible features - they have a life cycle and increase and decrease in popularity depending on societal, political and economic factors. - Product positioning – will it be positioned as expensive, luxury, exclusive or conversely a budget option? Positioning correctly ensures no competition from a superior product
  • 11.  Pricing = - Takes into consideration the consumers, organisations and economy - Economic conditions will also impact pricing decisions - Product Position affects pricing - Strategic pricing will consider the financial and marketing objectives of the business as well as external factors.
  • 12.  Promotional = - Is communication channel for business; advertising, selling, sales promotion and publicity. - May include special offers, displays, samples and any other tool that will help sell the product
  • 13. Place = - Distribution of the product - Physical movement and logistics involved in moving product from manufacturer along the distribution channel via the market to consumer.
  • 14. New Marketing Landscape  Marketing management has been influenced by globalisation, increased technology and strong demand for businesses to be ethically and socially responsible.  Essential for consideration in marketing