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MARKETING
Is it all marketing?
ADVERTISING
PR
MARKET RESEARCH
BRANDS
4Ps
R&D
PROMOTION
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 mix
product life cycle
brand, branding, brand recognition, b.awareness
corporate b., individual b., B2B, B2C
multi-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.
2.
3.
4.
5.
3 types of schools of marketing? Slogans?
Old approach? Problem?
Link between pg.5 and pgs. 1-3?
Marketing today?
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 price
b) 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 Revision
MK: U 11-13
Products
Marketing
Advertising
Missing words?
....line
... mix
... cycle
... branding
... branding
... strategy
... cannibalization
... packaging
... switchers
... of scale
...awareness
... value
... value
... value
... loyalty
... share
... recognition
… pricing
… skimming
Missing words?
Product....
Product ...
Life ...
Corporate ...
Individual ...
Multi-branding...
Brand ...
distinctive...
Brand ...
Economies ...
Public ...
Market ...
Brand ...
Book ...
Customer ...
Market ...
Brand ...
Penetration …
Price …
Missing words?
Physical ...
Tangible ...
Brand ...
Distribution ...
Target ...
Comparative ... ...
Free ...
Viral ...
Word-of-mouth ...
...value
…sample
...advertising
...assets
... customers
... parity method
... marketing
... assets
... channel
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 ...