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Basic Marketing Concepts

A PowerPoint presentation of basic concepts in Marketing as a preparation for the more advanced dimensions of the discipline when students proceed to higher years.

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Basic Marketing Concepts

  1. 1. By: Gilda Rodriguez dela Cruz
  2. 2. Market Refers to the consumers and customers for the goods and services produced by an enterprise. Also refers to the place or location where exchange og goods and services take place
  3. 3. Marketing All the activities involved in providing customer satisfaction by facilitating the exchange of goods and services from where they are produced to the ultimate user. Produce goods or provide services according to the preferences of buyers making up your market.
  4. 4. Marketing Segmentation The process of classifying the market Consumers are numerous and have varied buying motives and habits Useful in the preparation of a business/marketin g plan
  5. 5. Marketing Mix
  6. 6. Product Refers to what the company sells Could be tangible product or intangible service
  7. 7. Promotion Activities that tell or inform potential buyers about the product It encompasses all forms of communication that a firm chooses to use The objective of promotion is to inform and influence the attitude of prospective buyers favorably towards the product
  8. 8. Promotional activities become necessary when: Competing products in your target market are alike Buyer’s awareness of your product and its features are minimal Products to be sold are on self service or mail order basis
  9. 9. 5 forms of Promotion: Personal selling Advertising Sales promotion Point of purchase/product display Publicity
  10. 10. Personal Selling Involves face to face selling through oral conversation May take the form of sales calls by company representative, sales clerk or invitation to a dinner E.g. Door to door selling by Euroclean man
  11. 11. Advertising Any paid form of presentation and promotion of ideas, goods or services by an identified sponsor E.g. - Tri media (print, radio and television)
  12. 12. Sales Promotion Continually creates and applies reinforcing materials and techniques to increase the affectivity of salesmen, distributors and dealers to sell the product E.g. Wrappers of the product as an entry to a raffle, Free samples, Buy one take one offers, Money refund offers, Discounts, Demonstrations, Taste tests
  13. 13. Point of Purchase/Product Display Enabling buyers to see, feel and smell products E.g. Attractive Displays
  14. 14. Publicity Takes the form of news releases, public appearances of company officials and participation in industry wide publicity efforts Also known as “free advertising” It is less readily be controlled E.g. publicity material sent to the radio/newspaper may or may not be used
  15. 15. Place/Channels of Distribution Market intermediaries the product goes through before it reaches the ultimate consumer
  16. 16. MANUFACTURER Direct Door-to- Door Mail Order Company Store Retailer Department Store Supermarket Discount Store Mail Order House Wholesaler Full Service Limited Service Agent Middlemen Broker Sales Agent CONSUMER
  17. 17. Price Value placed on goods and services offered to the public
  18. 18. Factors that affect pricing decisions: Cost of making the product Marketing and administrative costs Prices of competitors Ability of target customers to pay Supply and demand situation Image of the company
  19. 19. PRICING PRODUCTS Factors to consider when setting prices: 1. Internal factors (marketing objectives, marketing mix strategy, costs and organization)
  20. 20. TYPES OF COSTS Fixed costs - costs that do not vary with production or sales level Variable costs - costs that vary directly with the level of production Total Costs - the sum of the fixed and variable costs for any given level of production
  21. 21. 2. External Factors (the nature of market and demand, competition and other environmental elements)
  22. 22. PRICE ADJUSTMENT STRATEGIES Cash discount Quantity discount Functional discount Seasonal discount Allowance

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