2. SPECIAL FEATURES
What is a
Market
What is
Marketing The Market
Mix
How are
products
transported?
Activity
3. WHAT IS A MARKET?
A market may be define as the
place where people meet to
exchange, or buy and sell goods
and services
It is also the actual or potential
buyers of a product.
4. WHAT IS MARKETING?
According to the Institute of
Marketing it is defined as the
responsible for identifying,
anticipating and satisfying
consumers’ requirements
profitable.
5. THE MARKET MIX
This is a set of decision that
needs to be considered prior to
introducing a new product. These
four P’s are:
Product
Price
Promotion
Place
7. PRODUCT
According to marketingmix.co.uk This is
the 1st p which is the unit that an
organization wants to supply in the
market. It might be a tangible object or an
intangible service. Tangible products are
items such as consumer goods (soaps,
toothpaste, and spoons) while intangible
can be services like tourism. This is the
most crucial thing in an organization.
8. PRODUCTS CONT’D
A firm will have to consider the following factors when
choosing a product to produce.
Size Terms of Sale
Price Services offered
Packaging Brand Name
Colour Style and Fashion
The image of the firm Type of Customer
Quality of the raw materials
10. CONCEPTS OF MARKETING
There are three main concepts
that businesses may use to satisfy
consumers’ wants. These are
Sales Concept
Marketing Concept
Customer Concept
11. SALES CONCEPT
This is where the business tries to
sell something before learning
what the customers want.
12. MARKET CONCEPT
This is where the firms looks at
what the consumers want and
then try to meet the demands of
the customer.
13. CUSTOMER CONCEPT
This is where a firm tries to meet
the demands of customers despite
having other goals in mind.
14. WHAT IS MARKET RESEARCH
According to Karlene Robinson and
Sybil Hamil, this is the process of
finding out about a particular
marketing problem or situation by
gathering, analysing and interpreting
information in a systematic way.
NB. In order for a firm to find out what
a customer wants they must first
conduct a market research.
15. BRANDING AND PACKAGING
Brand- According to
Dictionary.com, brand is the
name, term, design, symbol, or
any other feature that identifies
one seller's product distinct from
those of other sellers.
17. BRANDING AND PACKAGING
CONT’D
Packaging-is the science, art,
and technology of enclosing or
protecting products for
distribution, storage, sale, and
use. Packaging also refers to the
process of design, evaluation, and
production of packages.
19. Label- An item used to identify
something or someone, as a small
piece of paper or cloth attached to
an article to designate its origin,
owner, contents, use, or
destination.
BRANDING AND PACKAGING
CONT’D
21. PRICE
This is the amount that is asked
for a product. The price of a
product should be attractive to
consumer, better than competitors
price yet enough to cover the cost
of production at a profit.
22. PROMOTION
This is where firm informs the
customers about their product.
This is done by:
Advertising
Sales Promotion
Personal Selling
Public Relations
23. ADVERTISING
This is the method that businesses
and companies use to promote their
goods and services, in order to
increase sales.
They are two forms of advertising
1. Direct- e.g. free samples, circular
etc,
2. Indirect-e.g. Newspaper,
television etc.
24. ADVERTISING CONT’D
Make consumer
aware of the product
Increase sale
Promotes demand
which makes mass
production possible
Through mass
production more
people are employed
They sometime
deceive the public by
exaggeration
The cost of advertising
is usually borne by
customers
Resources that could
be utilized in a better
way are sometimes
wasted
Advantages of Advertising
Disadvantages of
Advertising
25. SALES PROMOTION
These are short term incentives
given to wholesalers, retailers or
consumer by a firm to promote
sales.
For example,
Free samples, coupons,
premiums, price discount, contest
and sweepstakes, trade shows
etc.
26. PERSONAL SELLING
This is a presentation made by
individuals representing a sponsor
to prospective buyers to persuade
them to purchase a product.
27. PUBLIC RELATION/PUBLICITY
This is the act of attracting the media
attention and gaining visibility with
the public. Publicist that carries out
publicity while Public Relation is the
strategic management function that
helps an organization communicate,
establish and maintain relation with
the important audiences, It can be
done internally without the use of
media
28. PLACE
In marketing, place is seen as the
way in which products are
distributed to reach the consumer.
32. COMPLETE THE FOLLOWING
SENTENCES
The ___________ is the item to be manufactured.
______________ is the method of making the
product known to the public
The _________ is the monetary value customers
are willing to pay for the item. This is done through
___________, ___________,___________ and
___________________
____________ is the pattern of distribution to get
commodity top the consumer
