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WHAT IS MARKETING? WHAT IS SALES?
Sales is an activity in which a commodity,
“The Science and art of exploring, creating
goods, or product is sols to someone in
and delivering value to satisfy the needs of a
exchange for a cost.
target market at a profit.” - Philip Kotler
BRANDING
A Brand is a name, term, design, symbol, or any
other feature that distinguishes one seller's good
or service from those of other sellers.
Branding is the process of creating a strong,
positive perception of your company, and its
BUYING SITUATIONS products in your customer's minds.
Brand Extension is when a company uses one of
Straight rebuy: Buyer routinely reorders a its established brand names on a new product or
product/service without any modifications. new product category.
Modified rebuy: Buyer wants to modify product Brand architecture is a company's
specifications, prices, terms, or suppliers. organizational structure for its brands, sub-
New task: Buyer purchases a product or service brands, products, and services.
for the first time. A line extension is a new product marketed by
System (solution) selling: Becoming more an organization that already has at least one
common among companies. other product being sold in that product/market
area.
MARKET RESEARCH
ATL BTL PROCESS
Identify the problem
Mass marketing that uses Targeted marketing that
traditional media to reach uses more direct and Develop the research plan
a wide audience. For personal channels to reach
example, Television a specific audience. For
Conduct research
Commercials, Print ads, example, Direct Mail, Email
Radio ads, Billboards, and Marketing, and Point of Sale
Analyze and report findings
Sponsored Events. displays.
Take action
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MARKETING BUZZ
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METHODS OF Marketing Mix
COLLECTING DATA Marketing Mix is a set of marketing tools that
the firm uses to pursue its marketing
objectives in the target market. It is centered
PRIMARY around the product, price, place, and
Focus Group Personal Interviews promotion.
Survey Experimental PRODUCT
PRICE
Observation Methods Features
Quality Pricing
Branding Strategy
Packaging Allowances
SECONDARY Services
Warranties.
Discounts
Payment
Terms.
Internal Sources External Sources
PLACE
Files Government Data PROMOTION
Channels
Reports Internet Market
Sales promotion
Sales staff/ Private Firms Coverage
Advertising
Assortment
Public Relations
Employees Advertising, Media, Location
Direct Marketing.
Inventory
MIS etc Transportation.
Types of MARKETING
Affiliate Marketing is an online Guerrilla Marketing is
Consumer Blackbox
sales tactic that allows you to an advertising strategy STIMULI BLACKBOX RESPONSE
earn a commission, every time a which includes doing
The black box in consumer behavior refers to the
customer purchases a product something unique or
internal factors influencing consumer decisions that are
or service based on your unusual in public places
not directly observable.
recommendations. using quirky tactics,
This concept represents the factors within a person's
memorable images and
mind that impact their choices. These factors include
Performance marketing is an unforgettable events
personal characteristics such as beliefs, values,
online marketing and advertising which may lead to
motivation, and lifestyle.
program in which advertisers pay brand association or
The term black box emphasizes that there's limited
marketing companies only when purchase.
understanding of what happens within the consumer's
a specific action is completed, mind during the decision-making process.
such as a sale, lead or click. Search engine marketing This model is also known as the stimulus-response
(SEM) is a digital marketing model, highlighting the process of external stimuli
Content marketing is creating strategy used to increase influencing consumer behavior, while the inner workings
and distributing valuable, the visibility of a website in of the mind remain relatively unknown.
relevant content to attract and search engine results pages Understanding the consumer black box is essential for
engage your brand’s target (SERPs). marketers to comprehend the intricate psychological
audience. aspects that drive consumer choices.
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Maslow’s Need Hierarchy Consumer
Theory: Products
a) Convenience Product - A relatively
Self-Actualization Morality, inexpensive item that merits little shopping
Self-fulfillment, seeking personal growth Creativity effort. Low customer involvement. Example:
Esteem Toothpaste, Detergent powder.
Self-esteem, Confidence Achievement, Cars, Furniture, b) Shopping Product - A product that requires
respect of others Real Estate comparison shopping, because it is usually
more expensive and found in fewer stores.
Love/Belonging High customer involvement. Examples:
Cell phones, Restaurants,
Friendship, family belonging to a Smartphones, clothes.
peer group Designer clothes
c) Specialty Product - A particular item for
Safety which consumers search extensively and are
Employment, health financial reluctant to accept substitutes is high brand
Insurance, Career advice, Banks
security loyalty and low price sensitivity. Example:
Luxury products.
d) Unsought Product - A product is unknown
Physiological If you don't have these, you will die to the potential buyer or a known product that
food, water, breathing
the buyer does not show interest in. Example:
Life Insurance
Market Positions AIDA Model
Market Leader: Leader of the market
Awareness
where the brand exists with a 40%
Catch your audience’s
market share.
attention to create
Market Follower: One who wants to
awareness.
gain market share but is not very
interested in differentiating the brand Interest
from the market leader. The market Drive interest by connecting
follower has a 20% market share. with your potential customers.
Market Challenger: One who wants
to aggressively steal the market share Desire
from the market leader. Market Generate desire by explaining
challenger has a 30% market share. what they get out of it.
Market Nicher: A small brand or
company that seeks to dominate a Action
niche part of the overall market that Move your target to take
won't be able to compete against the action.
market leader. Market nicher has a
10% market share.
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Product Life Cycle Tools Of IMC
Advertising is a paid form of mass media. It is a form of
marketing communication that uses paid media to create
awareness about a product, service, brand, or an idea.
PR (Public Relations) is the practice of managing a
positive image through media relations, press releases,
publicity events, and sponsorships.
Sales Promotion is a marketing strategy in which a
Characteristics Introduction Growth Maturity Decline business uses a temporary campaign or offer to increase
Sales Low sales Rapidly rising Peak Declining interest or demand for its product or service. E.g.
Costs
Profits
High Cost per customer
Negative
Avg cost per Customer
Rising
Low cost per customer
High
Low cost per customer
Declining
Discounts, Freebies, Contests, Coupons, etc.
Customers Innovators Eary adopters Middle majority Laggards
Competitors Few Growing Starting to decline Declining Direct Marketing is a type of marketing that involves
communicating directly with customers or potential
customers to promote products or services.
BCG MATRIX Ansoff Matrix
The BCG Matrix, or Boston Consulting Group Matrix, The Ansoff Matrix, created by Igor Ansoff, guides
assesses a company's product lineup and guides resource businesses in planning growth strategies.
allocation and decisions for product management.
Stars: High-growth Question Marks: High-
items with a big market growth, low-share items, Market Development: Diversification:
New Markets
share, need investment. need investment to grow. Enter new markets Enter new markets with
with current products, new products, offering
like new regions high potential but also
or customer groups. higher risk.
Existing Markets
Market Penetration: Product Development:
Sell more existing Introduce new products
products to current to existing markets by
customers using enhancing features or
marketing and pricing creating variations.
tacatics.
Cash Cows: Low-growth, Dogs: Low-growth, low-
high-share products, share products, consider
Existing Products New Products
steady cash flow. divestment or turnaround.
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