Transcript Marketing

Marketing
Topics to Cover
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Market
Target market
Marketing mix
Market research & Product development
Advertising
Selling techniques
Public relations
Export markets & Import substitution
Market
• Market is a place or contact between
a seller and buyer, where goods and
services are bought and sold.
There are many
types of markets
just as there are
many types of goods
and services.
• Nowadays a buyer
and seller do not
have to meet in
order for goods
and services to be
bought and sold.
• e.g. goods are
bought and sold
over the Internet
Target Markets
• Not all products and services suit
everyone, thus markets have to be
divided. This is called market
segmentation
• The particular type of market you
aim the product or service at is
known as the target market.
• It is important to identify target
market to guarantee success. Must
consider:
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Age
Location
Season
Gender
Lifestyle
Question: Match the product
to their main target market
Question continued-
Marketing Mix
• Marketing is the process of
identifying and anticipating consumer
needs
AND
• Identifying products and services
that can be produced to satisfy
these needs at a profit
Marketing is consumer orientated. This
means marketing is all about finding
out what products consumers want,
developing the product and then
getting it to the market.
Marketing Mix (4 P’s)
• Product- deals with
type, design, size
colour of product
or service.
• Price- which deals
with cost of
production and
selling price of
product, e.g.€0.80
• Promotion- deals with advertising,
sales promotion and selling
techniques. “Have a break have a Kit
Kat”
• Place- deals with channels of
distribution for a product and the
final place of selling.
5th P?
• Sometimes it is suggested that there
is a 5th P?
• Packaging does not just refer to the
way a product is wrapped but also
refers to the image that a company
will try to create for its product
NOTE:
Only Price, Product, Place and Promotion are accepted as
answers for elements of the Marketing Mix
for Leaving Certificate Business
Questions
Consider a product that uses its
packaging to portray a certain image?
Name and Explain!
Questions
Match the appropriate P of marketing
with the appropriate explanation?
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Product
Promotion
Place
Price
(a) Cost of Production
(b) Design
(c) Advertising
(d) Distribution
Market Research
• Gathering, recording and analysing
information about the market.
• Reasons for carrying out market research:
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5.
Consumer needs
Market size
Price, image, packaging
Advertising and Promotion
Competitors
Types of Market
Research
Desk (Secondary
Research) - assessing
information already
available. Cheap and
quick e.g. Internet,
Central Statistics
Office (CSO)
http://cso.ie/en/index.html
• Field (Primary
Research) - going to
market place obtaining
peoples views. More
expensive, time
consuming yet more
accurate e.g.
Questionnaire,
Observation
Sampling
Some sort of selection, should be a
representative of market.
Test Marketing
• A new product is tested on a small
number of people to find their
reactions
Question
Which two of the following are
different types of field research?
• Collecting information on the internet
• Observing consumer behaviour in a market
place
• Conducting interviews by phone
• Researching magazines and newspapers.
Answer
Which two of the following are
different types of field research?
• Collecting information on the internet
• Observing consumer behaviour in a market
place
• Conducting interviews by phone
• Researching magazines and newspapers.
Designing a questionnaire
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Must be carefully designed
Clear and simple
No leading questions
Should not suggest certain answers.
Example of a
questionnaire
Q1 Do you eat ice-cream Yes □No□
Q2 What price do you usually pay for an ice-cream?
20c□ 50c□ 80c□ €1□
Q3 What type of ice-cream do you eat?
Ice-lolly □ Chocolate □Vanilla□ Strawberry□
If others please elaborate?
Q4 When do you eat ice-cream?
daily□ weekly □ fortnightly □ monthly □
Task
Design a questionnaire (using the word
processing programme or Google
Forms/Survey Monkey) to research
the market for a new chocolate bar
called Chocolate Heaven?
Consider the 4 P’s when designing the
questionnaire!
Product Development
• Existing product redesigned
if necessary. Information
collected on market research
process.
• Helps ensure product or
service is better than that of
competitors and also that
consumer needs can be met
leading to greater sales and
increased profit.
Advertising
• Giving of information about a product or
service.
• Successful advertisements catch
customers:
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Attention
Interest
Desire
Action
Question Time
Q1 Using the internet and the website
www.youtube.com search the
advertisements for Meteor, Coca Cola and
Galaxy chocolate? Can you identify the
target market for each advertisement?
Q2 Design a suitable advertisement on the
computer keeping in mind the key elements
of a successful advertisement?
Different types of
advertising
• Informative - gives consumers information
about a product or service e.g. price
• Persuasive - trying to persuade customer
to buy goods e.g. Special K
• Competitive - criticising other products or
service e.g. ALDI/Tesco
• Generic - promote an industry as a whole
e.g. need energy, drink loads of soft
drinks, cheese/milk
Advertising Media
• Newspapers and
magazines
• TV and Radio
• Shopping bags
• Internet
• Billboards
Selling Techniques
• Businesses use
several methods to
increase sales
• Often incentives or
bonuses offered
directly to
consumers called
sales promotion or
special offers
• Branding:a brand is a
name/sign/symbol/design used by a
firm to identify its products and
distinguish them from other similar
products, e.g.
• Some businesses will offer certain
goods at a reduced rate with often
little or no profit margin. This is
known as loss leader
• Loss leader is intended to attract
customers to a store where they will
buy more than the deducted item.
Can you think of any
retailers that use this technique?
LOGO’S and Branding
• Using a particular logo
is known as
BRANDING
• Branding helps
differentiate a
product from that of
a competitor
• Very successful
method of encouraging
customer loyalty.
Task
Using the internet locate five famous
logos, create a presentation and
explain the company or product that
these logos symbolise.
Question:
TRUE or FALSE?
Q1 Businesses use selling techniques to increase
sales?
Q2 Giving a free gift with a product is an example
of branding?
Q3 Businesses add logos to products so that they
will be more identifiable to consumers?
Q4 A loss leader is a product which is sold at a
higher price to encourage consumers to buy it?
Public Relations
• Important for a business to have a positive
image
• Most businesses have a PRO (Public
Relations Officer) who looks after this
area.
• A PRO makes contact with the public
through press releases and press
conference
• A PRO maybe involved in sponsorship
deals, where a firm pay money to
have it’s name associated with
something
• Name four companies and the
sporting events/teams that they
sponsor?
Export Markets and
Import Substitution
• Irish Market is quite small, which
makes it difficult for some
businesses to survive
• For this reason businesses try to sell
products to other countries, called
exporting
• Majority of Irish Exports are sold to
the U.K.
• Imports are goods brought into
Ireland from other countries
• Import Substitution - businesses may
try to develop goods in Ireland to
replace foreign goods on the Irish
Market, e.g. Fiacla toothpaste
Goods/Services come to
Ireland
Money flows out of
Ireland to pay for the
Imports
€
Goods/Services
leave Ireland
Money flows into Ireland
€
Recap
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Market
Target market
Marketing mix
Market research & Product development
Advertising
Selling techniques
Public relations
Export markets & Import substitution