Definition of Marketing, Goals of Marketing, 4Ps Marketing Mix and 7Ps of Marketing Mix

1. Marketing

2. Marketing
 is the process of interesting
potential customers and clients in your products
and/or services.
 “process”
 researching, promoting, selling, and distributing
your products or services.
 in order to promote, the company featured its
debut at tech events and is highly advertised on
the web and on television.
 is based on thinking about the business in terms of
customer needs and their satisfaction.

3. Marketing
 as marketing invariable does, view the entire
business process as consisting of a tightly
integrated effort to discover, create, arouse and
satisfy customer needs.
 marketing has less to do with getting customers to
pay for your product as it does developing a
demand for that product and fulfilling the
customer's needs.

4. Marketing
 Process of planning and executing the
conception, pricing, promotion and distribution
of ideas, goods, services, organizations, and
events to create and maintain relationships
that will satisfy individual and organizational
objectives.

5. Goals of Marketing

6. Financial and
Nonfinancial
 Financial Goal might be add 75 new franchises
in the next 12 months or to reach $10 million in
revenues.
 Nonfinancial Goal might be to enter the
European Market or to add a new product line
every other year.
 Ex:Texas-based Handango, a wireless
software provider for PDAs and cell phones,
has experienced growth of 30% each quarter
for the past three years and now serves 6
million customers. On of its financial goal is to
continue that growth; a nonfinancial goal is to
increase its customer base to 8 million.

7. HowYou
ComeUpWith
Marketing
Goals
 In Guerrilla Marketing in 30 Days, the late
founder of guerrilla marketing, Jay Conrad
Levinson, and guerrilla marketing expert, Al
Lautenslager offer a dynamic marketing
blueprint to help business owners attract more
customers and maximize profits.
 In this edited excerpt, the authors explain how
you can set realistic marketing goals that will
help you achieve business success.

8. HowYou
ComeUpWith
Marketing
Goals
 If you don't know where you're going, how do
you know when you get there?
 How do you know how effective your
marketing is if you don't know what you want it
to accomplish?
 What's the primary reason you are marketing?

9. Goals of
Marketing
What are your
Marketing goals?
 Your marketing goals are nothing more than a
statement of what results you want to achieve
with your marketing.
 should fit into and support your overall
business goals. Just like any other goal,
marketing goals should be measurable.
 Goals must be specific and realistic as well.
 Your goals are the building blocks of your
marketing plan, the starting point of the plan.

10. Marketing
Goals
 The first component of the Guerrilla
Marketing attack is envisioning the goals,
having a crystal clear vision of what will be
accomplished during the current year and each
subsequent year, with great attention to detail.
 Ex: Disney's goal is to make people happy.

11. Marketing
Goals
 In creating your marketing plan, you force
yourself to focus on the specific goals you want
your marketing to achieve for you and on the
outcome.The marketing plan also states
actions to achieve those goals.
 Marketing goals can also be quantitative
translations that fit with your company's
financial objectives, stated in marketing terms
such as to increase.

12. Marketing
Goals
(unrealistic)
 Sales dollars
 Units sold
 Market share
 Mix of products or services
 ROI on advertising expenditures
 Awareness
 Public relations placements
 Number of new accounts/relationships
 Share of customer's business
 Sales conversion rates

13. Marketing
Goals
 they'll all become your goals and part of your
plan. Although this attitude is valiant, it may
not be realistic.
 marketers don't burden themselves with too
many goals.
 The right number of goals is the one that offers
you a “reasonably” with some stretch high
probability of “success” over a given “period of
time”.
 be consistent with your overall business goals
and management commitment.

14. Marketing
Goals
 Setting realistic marketing goals contributes to
your marketing success.
 Making goals too easy isn't realistic.
 Easy goals require no stretch.
 Stretching yourself will produce the best
results.
 But setting goals that are unreasonably high
will cause you to become frustrated,
discouraged and defeated.

15. checklist of
questions to
give your goals
a reality check:
 Can I really and truly do this?
 Have I come close before with similar efforts?
 Do the numbers, time frame, and dollars seem
somewhat practical?
 Has my competition or have other companies
done similar things?
 Am I avoiding the attitude/mindset that says,
"There is no way possible this can be
accomplished"?
 If you answered yes to the questions above,
then your goals are realistic.

16. Marketing Mix

17. Marketing Mix
 It is about putting the right product or a
combination thereof in the place , at the right
time, and at the right place.The difficult part is
doing this well, as you need to know every
aspects of your business plan.
 The 4 Ps have been associated with the
Marketing Mix since their creation by E. Jerome
McCarthy in 1960.

18. Target Market
 A specific group of consumers at which a
company aims its products and services.
 Your target customers are those who are most
likely to buy from you.

19. Target Market
Here are some
questions to get
you started:
 Are your target customers male or female?
 How old are they?
 Where do they live? Is geography a limiting
factor for any reason?
 What do they do for a living?
 How much money do they make?This is most
significant if you're selling relatively expensive
or luxury items
 What other aspects of their lives matter? If
you're launching a roof-tiling service, your
target customers probably own their homes.

20. The 4P’s of
Marketing Mix

21. Product - The Product
should fit the task
consumers want it for,
it should work and it
should be what the
consumers are
expecting to get.
Place – The product
should be available from
where your target
consumer finds it easiest
to shop. This may be
High Street, Mail Order
or the more current
option via e-commerce
or an online shop.
Price – The Product should
always be seen as
representing good value
for money. This does not
necessarily mean it should
be the cheapest available;
one of the main tenets of
the marketing concept is
that customers are usually
happy to pay a little more
for something that works
really well for them.
Promotion – Advertising, PR, Sales
Promotion, Personal Selling and, in
more recent times, Social Media are all
key communication tools for an
organization. These tools should be
used to put across the organization's
message to the correct audiences in
the manner they would most like to
hear, whether it be informative or
appealing to their emotions.

22. Marketing Mix
 In the late 70’s it was widely acknowledged by
Marketers that the Marketing Mix should be
updated.
 This led to the creation of the Extended
Marketing Mix in 1981 by Booms & Bitner
which added 3 new elements to the 4 Ps
Principle.
 This now allowed the extended Marketing Mix
to include products that are services and not
just physical things.

23. The 7P’s of
Marketing Mix
(Extended MM)

24. People – All companies are
reliant on the people who
run them from front line
Sales staff to the Managing
Director. Having the right
people is essential because
they are as much a part of
your business offering as
the products/services you
are offering.
Processes –The delivery of
your service is usually done
with the customer present
so how the service is
delivered is once again part
of what the consumer is
paying for.
Physical Evidence –
Almost all services include
some physical elements
even if the bulk of what the
consumer is paying for is
intangible.