Professional Documents
Culture Documents
&
The Marketing Process
Chapter 3
Definition’s of Marketing & Advertising
• Marketing: Process of planning and executing the conception, pricing, promotion,
and distribution of ideas, goods, and services to create exchanges that satisfy the
perceived needs, wants, and objectives of the customer and the organization
• Advertising: Is paid non-personal communication from an identified sponsor using
mass media to persuade or influence an audience. It is part of the marketing-mix
• Marketing-Mix: A blend of activities such as designing the product and its
package, pricing the product, distributing the product so that it is accessible to
customers, and promoting or communicating about the product.
• Marketing Communications a.k.a. Promotion: Is an umbrella term for
many types of promotional activities; advertising, public relations, sales promotions,
personal selling, packaging, point-of-sale, and direct marketing. As a part of this,
advertising has the ability to reach mass audience repeatedly. It helps introduce
products, explains important changes, reminds and reinforces and helps persuade.
Types of Markets
Professional and Trade Advertising
Institutional
Business-to-Business Reseller
(Industrial)
Consumer
Consumer Advertising
The Process of Approaching
the Market Step 1
Undifferentiated or market Assess the needs of the market and the company’s
Marketing Concept is
ability to meet these needs profitably
aggregation when consumer needs
strategy is when you treat takes precedence in
the market as homogenous Step 2 shaping a marketing mix
Choose an undifferentiated, segmentation, or
Segmentation is when you combination strategy Integrated Marketing is
recognize the when all the elements of
market differences and the marketing mix work
Step 3
adjust to them accordingly For a segmentation or combination strategy, together to position a
determine the target market(s) that would be brand (message and media
Positioning is using most receptive to the product
working in unison)
tangible and intangible
differentiation to create a Relationship Marketing
Step 4
unique place in the Select an approach to each target market through is when customer needs
consumer’s mind. It can be product differentiation and positioning are fulfilled through
done using attributes, personal attention
pricing, competitor’s,
Step 5
application, users, product Take action to approach the target market(s)
class etc. Eg. Volvo is Safe,
Haleeb is Thick.
Marketing Mix Elements
Product Distribution
•Design and Development •Distribution Channels
•Branding •Market Coverage
•Packaging •Storage
•Maintenance
Price Communication
•Price Copy •Personal Selling
•Psychological Pricing •Advertising
•Price Lining •Sales Promotion
•Value Determination •Direct Marketing
•Marketing Public Relations
•Point of Sale/Packaging
Product Characteristics
The Product