What is Marketing?What is Marketing?A quick introductionA quick introduction

David Jobber:‘The achievement of corporate goals through meeting and exceeding customer needs better than the competition’

The Marketing MixThe Marketing MixReferred to as the 4 ‘P’s:Referred to as the 4 ‘P’s:

ProductPrice PromotionPlace

Decisions about these are based on the results of market research

ProductProduct

The right product for the customer

Must provide real BENEFITS for the customerOr solve the customer’s problem

Kotler:‘Successful companies add benefits to their offering that not only satisfy customers but also surprise and delight them.’

Products can be:Products can be:

Goods (Durable and Non-Durable)ServicesIdeas, InformationExperiencesPlacesPropertiesOrganisationsEven PEOPLE!!

PricePrice

The right priceA price which reflects the customer’s willingness and ability to payA price which ensures the customer feels s/he has obtained real value A price that ensures company profitability

PlacePlace

Getting the product to the customer:In the right placeAt the right time

e.g. Shelves fully stocked, convenient opening times

How do you apply this to a How do you apply this to a service?service?

Think…BarclaysEasyJetTesco

All are Services

Service ProcessService Process

Make it easy for the customer to buy and use the service e.g.Direct Line Insurance - no forms, no fussTesco - no queues at checkoutsP&O ferries - fast loading and unloading

PromotionPromotion

Ensuring that advertising, sales and other promotions communicate the REAL BENEFITS of the product to the customer

Promotion for ServicesPromotion for Services

The essential tools for the job which back up many products e.g.The bank’s buildings The courier’s vans – think DHLThe airline’s aircraft – think EasyJetThe hairdresser’s salon decor etc

Promotion for ServicesPromotion for Services

There are also peripherals or ‘little extras’ that remind the customer of the service e.g.The bank cheque booksThe RAC/AA membership card