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Marketing, Marketing Strategies, Marketing Process, Role of Marketing,…

- - - - Creates exchanges that satisfy individual and organisational objectives
- - - - Producer -> Customer
      - Producer -> Retailer -> Customer
      - Produce -> Wholesaler -> Retailer - > Customer
      - Producer -> Agent - > Wholesaler - > Retailer - > Customer
  - - - Everywhere
      - Saturated Market
    - - Moderate amount of outlets
      - Exclusive
        
        One retail outlet
        
        Expensive
- - - - Customised Pricing
        
        Consumers in different countries charged different
        
        Due to:
        
        Transport
        
        Taxes
        
        Warehousing
        
        Tariff
        
        Tax on imported product
      - Direct-customised Pricing
        
        According to the local market condition
      - Standardised Pricing
        
        Same price for product around the world
- - - - Manufacturer's/national brand
        
        Owned by manufacturer
      - Private/House Brand
        
        Owned by retailer/wholesaler
      - Generic Brand
        
        No brand name at all
- - - - Particular features of population
        
        Age
        
        Sex
        
        Income
    - - Location
        
        Region
        
        Urban
        
        Climate
    - - Characteristics
      - Motives
      - Opinion s
      - Socioeconomic Group
    - - Customer's relations to a product
        
        Purchase Occasion
        
        Loyalty
        
        Price Sensitivity
- - - - Customer Service
      - Environmental Conversn
      - Convenience
      - Social and Ethical Issues
- - - - Cost-based Pricing
        
        Cost + (Cost x Percentage Mark-Up) = Price
      - Market-based Pricing
        
        Whatever the market is prepared to pay
      - Competition Based Pricing
        
        Covering all cost but competing with others price
    - - Price Skimming
        
        :arrow_up: during introduction of product life cycle
      - Price Penetration
        
        :arrow_down: lowest price possible
      - Loss Leader
        
        Below Cost Price
      - Price Points
        
        Selling prices at predetermined prcies
    - - "You get what you pay for"
- - - - Advertising
        
        Non-personal message communicated to a mass medium
        
        Mass-marketing
        
        Direct Marketing
        
        QUANTUS spends $10m on:
        
        E-marketing
        
        Billboards
        
        Social Media
        
        Marketing Catalogues
        
        Telemarketing
      - Personal Selling
        
        Sales consultant directed to customer
      - Public Relations + Publicity
        
        Relationship Marketing
        
        Long-term
        
        Cost Effective
        
        Strong Relationships w/ individual customers
        
        Sales Promotion
        
        Offering direct inducement to customers in an attempt to sell more of its product
        
        Extra Gift
        
        Refunds
    - - Opinion Leader
        
        A person who influences others
      - Word of Mouth
        
        When people influence others due to conversations
- - - - Strengths
      - Weaknesses
    - - Opportunities
      - Threats
  - - - Tries :arrow_up: consumer awareness
    - - Brand :check: market share pursued
    - - Sales :left_right_arrow:market beccomes saturated
    - - :arrow_down: sales
- - - - Primary
        
        Facts and figures form original sources for the specific purposes o fhte porble
      - Secondary
        
        Information that has already been collected by some person or organisation
        
        Internal
        
        Eeternal
- - - - Implementation
        
        Process of putting the marketing strategies into operation
      - Monitoring
        
        Means checking and observing the actual progress of the marketing plan
      - Controlling
        
        Involves the comparison of planned performance against actual performance and taking corrective action to make sure the objectives are attained
    - - Predictions about the future
        
        Cost Estimates
        
        How much is it going to cost
        
        Revenue estimates
        
        How much is it going to gain?
    - - Comparing sales, market share and marketing profitability to planned results; analysis
    - - Changing the Marketing Mix
      - New Product Development
      - Product Depletion
- - - - Increase Market Share
      - Maximising Customer Service
      - Expanding Product Range
- - - - Approaches
        
        Mass Marketing
        
        Seeks large range of customers
        
        Market/segmentation
        
        When the total market is subdivided into group of people who share one or more common characteristics
        
        Niche Market
        
        Narrowly selected market segment
- - - - Focused on producing goods and services
  - - - Emphasised selling because
        :arrow_up: competition = :arrow_up: spending on advertising
  - - - Focus on customer want
    - - 1980s - Present
        
        Corporate Social Responsibility (CSR)
        
        External pressure from:
        
        Customers
        
        Environmental Organisations
        
        Political Forces
        
        Customer Orientation
        
        Collecting information about customers and basing marketing on them
        
        Relationship Markeitng
        
        Customer loyalty repeat sales achieved through loyalty programs
- - - - Primary Production
        
        Mining
        
        Agriculture
        
        Forests
        
        Fishing
    - - Industries and businesses that purchase products to use in production of other products/operations
    - - Household members who use/consume products they buy
    - - Mass produces, distributes, promotes on product to all buyers
    - - Concentrated/micro market
        
        Consists of buyers who have specific needs/lifestyles
      - Intermediate Market
        
        Wholesalers and retailers who purchase products and sell them again to make a profit
- - - - Operations (Product
      - Finance ($)
      - Human Resource (Employees)
- - - - Motives
      - Attitudes
      - Personality
      - Self-image
      - Learning
      - Perception
  - - - Social Class/ Socioeconomic Status/ Person's rank in society
      - Culture and Subculture
      - Family and Roles
      - Reference (other groups)
  - - - :arrow_down; employment = :arrow_down: income
        
        Customers optimistic about future :arrow_up: consumer spending
    - - :arrow_up: unemployment = :arrow_down: income
        
        Consumer pessimistic about future
        :arrow_down: consumer spending
  - - - Example
        
        Competition and Consumer Act of 2010
        
        Fair Trade Act 1987
  - - - Can be very serious because of the influential nature of advertising
        
        Types
        
        Bait and Switch
        
        :arrow_down: stock on :arrow_down: priced goods to attract consumers
        
        Dishonest
        
        False Claims
        
        Deceptive Words
      - Examples
        
        Fine Print
        
        Before and After
        
        Test and Surveys
        
        Country of origin
        
        Packaging
        
        Special Offer
- - - - Using words to mislead consumers
        
        Example
        
        False Myth busting Coke:
        
        Claiming it doesn't rot teeth
        
        Isn't highly caffeinated
        
        Untruths, exaggerated claims, vague statements
    - - Mostly junk-food
    - - Lessening competition is illegal
    - - Selling under the guise of a survey