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![Page 1: Marketing Promote the business Promote the business Establish and adjust the marketing mix Establish and adjust the marketing mix © John Loftus.](https://reader035.fdocuments.us/reader035/viewer/2022062518/56649e565503460f94b4e472/html5/thumbnails/1.jpg)
MarketingMarketing
Promote the Promote the businessbusiness
Establish and Establish and adjust the adjust the marketing mixmarketing mix © John
Loftus
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Marketing Marketing viewpointsviewpoints
Social viewpointSocial viewpoint Economic Economic viewpoint viewpoint Management Management viewpointviewpoint
© John Loftus
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Social experienceSocial experience
Marketing is a social Marketing is a social experienced where experienced where two or more parties two or more parties exchange something exchange something
of value.of value.© John Loftus
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Economic functionEconomic functionBusiness performance Business performance
requires efficient exchange requires efficient exchange processes and efficient processes and efficient management of scarce management of scarce
resources.resources.
© John Loftus
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Management Management processprocess
Marketing Marketing management is management is the process of the process of identifying and identifying and satisfying satisfying customers’ customers’ needs, at a profit, needs, at a profit, in an ethical way.in an ethical way. © John
Loftus
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Management Management orientationsorientations
Marketing Marketing orientationorientation Production Production orientationorientation Sales orientationSales orientation
© John Loftus
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Marketing mixMarketing mixManagers adjust 4 key variables:Managers adjust 4 key variables:
Products and servicesProducts and servicesPlace – (channels of distribution)Place – (channels of distribution)Promotion (communication)Promotion (communication)PricePrice
© John Loftus
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Target marketTarget market
An attractive group of An attractive group of buyers to target with a value buyers to target with a value proposition that is so good proposition that is so good that people will buy.that people will buy.
Buyers may be:Buyers may be: Existing customersExisting customers Prospective customersProspective customers
© John Loftus
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Marketing strategyMarketing strategy
Supply Chain
MarketingCommunication
JL
ValueProposition
© John Loftus
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ActivityActivity
What is marketing What is marketing really all about ?really all about ?
© John Loftus
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The Marketing MixThe Marketing Mix
Adapted from Bized www.bized.co.uk
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ProductProduct
Adapted from Bized www.bized.co.uk
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PlacePlace
Adapted from Bized www.bized.co.uk
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PromotionPromotionMarketing Marketing
communicationcommunication
Adapted from Bized www.bized.co.uk
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PromotionPromotionMarketing communicationMarketing communication
Strategies to Strategies to make the make the consumer aware consumer aware of the existence of the existence of a product or of a product or serviceservice
NOT just NOT just advertisingadvertising
Adapted from Bized www.bized.co.uk
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Physical EnvironmentPhysical EnvironmentBrand ImageBrand Image
Adapted from Bized www.bized.co.uk
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Physical EnvironmentPhysical Environment The ambience, mood or physical The ambience, mood or physical
presentation of the environmentpresentation of the environment Smart/shabby?Smart/shabby? Trendy/retro/modern/old fashioned?Trendy/retro/modern/old fashioned? Light/dark/bright/subdued?Light/dark/bright/subdued? Romantic/chic/loud?Romantic/chic/loud? Clean/dirty/unkempt/neat?Clean/dirty/unkempt/neat? Music?Music? Smell?Smell?
Adapted from Bized www.bized.co.uk
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PricePrice
Adapted from Bized www.bized.co.uk
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PricePrice
Importance of:Importance of:knowing the knowing the
marketmarketelasticityelasticitykeeping an eye keeping an eye
on rivalson rivalsImage copyright: www.freeimages.co.uk
Adapted from Bized www.bized.co.uk
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Marketing strategyMarketing strategy
Supply Chain
MarketingCommunication
JL
ValueProposition
© John Loftus
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Blending the marketing mixBlending the marketing mix Blend of the mix depends upon:Blend of the mix depends upon: Marketing objectivesMarketing objectives Type of productType of product Target marketTarget market Market structureMarket structure Rivals’ behaviourRivals’ behaviour Global issues – culture/religion, Global issues – culture/religion,
etc.etc. Marketing positionMarketing position
© John Loftus
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The marketing The marketing processprocess
Organisation mission
Market opportunity analysis
Marketing strategy
Target market
Marketing mix•product•place•promotion•price
Implementation
Evaluation
Environ-mentalscan
Marketing objectives
Adapted from Bized www.bized.co.uk
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Planning roadmapPlanning roadmap
© John Loftus