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CHAPTER 12 MARKETING FOR SMALL BUSINESS REPORT.pptx

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CHAPTER 12 MARKETING FOR SMALL BUSINESS REPORT.pptx

  1. 1. CHAPTER 12 MARKETING FOR SMALL BUSINESS
  2. 2. • During the ancient times, marketing was done through barter. • At present, the marketing system has become modern through the modern technology. Marketing has contributed greatly in improving our material appliances, elegant houses, beautiful cars, and other symbols of convenience, prestige and wealth.
  3. 3. OUR TOPICS:  MAJOR MARKETING FUNCTION  IMPORTANCE OF CONSUMER SERVICE  MARKETING PLAN  CONSUMER BEHAVIOR  DEVELOPING MARKETING STRATEGIES  INTRODUCING NEW PRODUCTS
  4. 4. IN ADDITION:  PROMOTION  DISTRIBUTION CHANNELS  PRICING STRATEGIES  BREAK—EVEN ANALYSES  BREAK—EVEN GRAPH
  5. 5. MARKETING DEFINED: PROFESSOR KOTLER He defined marketing as a set of human activities directed at facilitating and e consummating exchange. It includes: 1. Two or more person who are potentially interested in exchange 2. Each person having things of value to offer to the others 3. Each of them is capable of communication and delivery AMERICAN MARKETING ASSOCIATION He defines marketing as the performance of business activities that directs the flow of goods and services from producer to consumer. Marketing is not just a single activity, but a process. It is a process of establishing natural satisfaction in exchange relationship between buyer and seller.
  6. 6. MARKETING DEFINED: PROFESSOR WILLIAM STANTON He explains that marketing is a transaction intended to satisfy human needs. Aside from goods and service, ideas, people, and places are also marketed. needs to satisfy A market is money to spend people with willingness to buy
  7. 7. MAJOR MARKETING FUNCTION
  8. 8. EXCHANGE, DISTRIBUTION AND FACILITATING FUNCTIONS EXCHANGE FUNCTIONS A. BUYING B. SELLING DISTRIBUTION FUNCTIONS A. TRANSPORTING B. STORING FACILITATING FUNCTIONS A. FINACING B. STANDARDIZING C. GRADING D. RISK—TAKING E. MARKETING INFORMATION
  9. 9. MARKETING VS. SELLING CONCEPT • MARKETING CONCEPT The marketing concept determines the needs of the customers first, then develops the product and service to satisfy such needs. In short, marketing is customer—oriented. • SELLING CONCEPT Uses a reverse strategy. The enterprise makes the product first. Then it uses various ways of persuading people to buy the product. The focus of selling is on the needs of the seller instead of the buyer. SELLING IS ONE OF THE OLDEST PROFESSION. BUT NOT MARKETING.
  10. 10. TAB 1. COMPARISON OF MARKETING CONCEPT AND SELLING CONCEPT NO. MARKETING CONCEPT SELLING CONCEPT 1. Is based on producing the satisfaction of the customer. Is based upon the volume of production without thinking of the customer. 2. Organization determines the customer requirements first and then produces the product which meets the customer requirements. Organization first makes the product and then figures how to sell it. 3. Begins with the customer and focuses constantly on the needs of the customer. Begins with the organization which is pre-occupied all the time with meeting the requirements of selling. 4. Customer determines the product which is to be offered by the organization. The selling organization determines which product is to be offered. 5. In making concept, emphasis is on the requirements of the customers. In selling concept, emphasis is on th product. 6. Outside—In perspective. Inside—Out perspective.
  11. 11. IMPORTANCE OF CONSUMER SERVICE
  12. 12. IMPORTANCE OF CONSUMER SERVICE STEW LEONARD’S RULES: NO. 1: THE CUSTOMER IS ALWAYS RIGHT NO. 2: IF THE CUSTOMER IS WRONG, SEE THE RULE NO.1.
  13. 13. Here are some approaches in customer service: 1. Train all employees to be courteous. 2. Coddle the customer. 3. Remember that dissatisfied customers tell others about their experience. 4. Listen to others about your business.
  14. 14. MARKETING PLAN
  15. 15. MARKETING PLAN Marketing plan is an outline of actions design to achieve a specific set of goal. A plan should be realistic. That is, it should be based on available resources. Likewise, a marketing plan must be compatible with marketing resources and the external environment of the enterprise.
  16. 16. External environment; 1. ECONOMIC FORCES 2. SOCIETAL FORCES 3. POLITICAL FORCES 4. TECHNOLOGICAL FORCES
  17. 17. Developing a marketing plan 1. Assess the marketing plan — Present the potential market — Marketing programs / strategies — Availability 2. Formulate specific marketing plan — Reasonable — Realistic — Relevant to firm’s goals
  18. 18. Developing a marketing plan 3. Choose a target market with strategies on: — Product — Pricing — Promotion — Distribution 4. Monitor and evaluate the operations of the marketing program through: — Marketing research — Marketing information system (computer—based)
  19. 19. CONSUMER BEHAVIOR
  20. 20. • CONSUMER BEHAVIOR Success in marketing depends on the ability of the entrepreneur to identify and understand the behaviors of consumers. An entrepreneur can easily satisfy the needs of consumers if he knows their behaviors. Such knowledge and understanding of consumer behaviors create mutual benefits for both seller and buyer.
  21. 21. In studying consumer behavior, the following should be considered: 1. Who buys? 2. What do they buy? 3. Where do they buy? 4. When do they buy? 5. How they do buy? 6. Why do they buy?
  22. 22. Why do consumers buy? 1. The product satisfies their basic needs (e.g.) food, clothing, shelter, transportation, Medicare, education, and others. 2. The product gives them convenience (e.g.) washing machines, vacuum cleaners, appliances and other tools. 3. The product gives them fame 4. The product offers fame (e.g.) Rolex watches experience great pride and high social status. (e.g.) stamps, painting, coins and other antiques. 5. The product protects them (e.g.) health, life and fire insurance for protection, alarm and safety devices.
  23. 23. DEVELOPING MARKETING STRATEGIES
  24. 24. According to Professor Philip Kotler, a marketing strategy is consistent, appropriate and feasible set of principle through which a particular enterprise hopes to attain its long— run customer and profit objectives in a particular competitive market.
  25. 25. Strategy takes into consideration: 1. Competitive size and market position of the enterprise 2. Resources, objectives, and policies of the enterprise 3. Marketing strategies of competitors 4. Buying behavior of target market 5. Stage of product-life-cycle 6. Character of the economy
  26. 26. MARKETING STRATEGIES TARGET MARKET 1. Product Strategy 2. Price Strategy 3. Promotion Strategy 4. Distribution Strategy 1. Age 2. Race 3. Education 4. Sex 5. Income 6. Occupation 7. Residence 8. Social Class
  27. 27. INTRODUCING NEW PRODUCTS
  28. 28. Product have their life cycles, from introduction to growth and maturity, and finally to decline. Because of this nature of product life, there is a need to their limited resources, have the disadvantages of introducing new products.
  29. 29. Main reasons of new product failures: 1. Inadequate market analysis about market needs and prize 2. Product defects such as poor quality and design 3. Underestimated costs resulting to higher prices 4. Poor timing in developing the product 5. Competitors driving away the new products with lower prices 6. Inadequate marketing effort to support the new product 7. Weal sales force for lack of training and motivation 8. Wrong channels of distribution
  30. 30. PROMOTION • Two methods of promotion are advertising and personal selling. Advertising: Media, Newspaper, Magazine, Radio, Television, Mail and Yellow paper. • The proper way of creating advertising is to evaluate the products, services, competitors, customers and critical factor.
  31. 31. DISTRIBUTION CHANNEL • The right distribution channel depend on the target market. All other things being equal. The most economical and most profitable channel of distribution should be—chosen. FACTORS IN SELECTING THE MOST APPROPRIATE DISTRIBUTION CHANNEL 1. Who are the buyers? 3. How can they reached? 2. Where are the located? 4. When do they buy?
  32. 32. PRICING STRATEGIES • Price is the value of a product or service expressed in money. In our capitalist company, price allocates goods and service. Those who have more money acquire more goods and services. The government interferes in the pricing system to protect the consumer against unreasonable prices. It is much better to offer non—price competition in the form of: QUALITY – SERVICE – CONVENIENCE – DELIVERY – SAFETY – GUARANTEES – CLEALINESS – EASY CREDIT OPTION.
  33. 33. BREAK—EVEN ANALYSIS Break—Even Analysis is a tool used by economists in solving managerial problems. Even government agencies and other organizations depend on break—even analysis in protecting their revenues, costs and profit. Break—Even Analysis compares total revenues (TR) with total cost (TC). TC represents income while TC represents expense of the enterprise. But when TR equals TC, it is break—even. That is no profit and there is no loss.
  34. 34. BREAK—EVEN GRAPH A Break—Even Graph assumes that the average variable cost (AVC) is constant. Therefore, this makes TC a straight line. AVC is derived by dividing total variable cost (TVC) with the number of output it sells. Thus, TR is a straight line. TR is equal to price times quantity or number of output.
  35. 35. THE END! THANK YOU SO MUCH! PRESENTED BY: GURO, JANNAH PATARANDANG

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