Chapter -13_-_marketing_strategy

1. Introduction to Business
MARKETING STRATEGY
Chapter # 13
Shafayet Ullah
SECTION: A3 and A4

2. Marketing
Marketing is the process of determining
customer needs and wants and then
providing customers with goods and
services that meet or exceed their
expectations.

3. Market
Market is a place where Actual Buyers
and Actual Sellers interact with each
other in order to exchange something of
value.

4. Who Purchases Products and
Services?
People Who Show
NeedS
Resources to
Exchange
Willingness to
Exchange
Actual
Buyers
Market – Buyers who share a
particular need or want that can be
satisfied through exchange
Actual
Sellers

5. Exchange
The process by which parties provide
something of value to one another to
satisfy the needs of each.
People with the authority, financial ability
and willingness to purchase a product or
service.

6. The Exchange Process
Provides a needed product
 Goods
 Services
 Ideas
Seller
Buyer
Offers something in return

7. Consumer Market
People who purchase products for
personal use.
Industrial Market
Those who purchase products to use in the
production of other products or to resell.

8. Selecting a Target Market
Market Segment
A group of individuals with one or more
similar product needs
Target Market
A group to which a firm directs its marketing
activities
Marketing Mix
The marketing mix is the set of marketing
tools the firm uses to pursue its marketing
objectives in the target market.

9. Marketing Mix
There are four tools which are used by
the firms
 Product
 Price
 Place / Distribution
 Promotion
These four factors are also called four P’s.
The FOUR P’s are used to satisfy the needs
of the target market.

10. Marketing Mix

11. Marketing Mix
Product
A product can be a good, a service or an
idea. Manufacturing a product is a
production function. But marketing
managers have the responsibility to inform
the production people about products
consumers would find appealing and about
existing products that need to be changed
or that are no longer needed.

12. Marketing Mix
Price
Once a firm develops a product, it must set
a price. Pricing requires crucial decision
making because price is very visible to the
consumer and is closely tied a company
profit.

13. Marketing Mix
Place / Distribution
Even a terrific product, priced right, can fail
if it is not available where and when the
consumer wants it. Distribution of
products, a complex process, involves
decisions about transportation, storage and
store selection.

14. Marketing Mix
Promotion
Before consumer can purchase a product,
consumers must know about its availability,
its characteristics or benefits and where it
can be purchases. Promotion, consisting of
advertising,
personal
selling,
sales
promotion and publicity informs or reminds
the target market about a product and tries
to persuade consumers to buy or adopt it.

15. Product Life Cycle
The theoretical life of a product, consisting
of four stages: introduction, growth,
maturity and decline.

16. Product Life Cycle
Introduction
A period of slow sales growth as product is
introduced in the market. Profits are
nonexistent because of heavy expenses
incurred with product introduction.
Growth
A period of rapid market acceptance and
substantial profit improvement.

17. Product Life Cycle
Maturity
A period of a slowdown in sales growth
because the product has achieved
acceptance by most potential buyers.
Profits stabilize or decline because of
increased competition.
Decline
The period when sales slow a downward
drift and loss occurs.

18. Product Promotion
The communication of favorable, persuasive
information about a firm or product in
order to influence potential buyers
Promotion Mix
The combination of advertising, personal
selling, sales promotion and publicity used
to promote a specific product.

19. Product Promotion
Advertising
A paid form of non-personal communication
to a target audience through a mass medium
such as television, newspaper or magazines
Personal Selling
Person-to-person communication with one of
more prospective customers in order to make
a sale

20. Product Promotion
Sales Promotion
An activities that offers customers or
marketing intermediaries direct incentives
for purchasing a product
Publicity
A non-personal form of communication
transmitted on news story form and not
paid for directly by a sponsor.

21. THE END