Transcript Marketing PPT - Szent Gergely Népfőiskola

Marketing PPT
What you will be able to do
1. Explain why marketing is the business function
that identifies customer needs
2. Use marketing to establish your brand
3. Apply the four elements of a marketing plan
4. Create a marketing plan for your business
Explain why marketing is the business
function that identifies customer needs.
• Marketing – is satisfying the customer at a
profit.
• Nike creates advertisements and
promotions designed to convince
customers that Nike sneakers will inspire
them to Just Do It.
Meet your customer’s needs to
gain their loyalty
• Your current and future customers are
your top priority
• Marketing is the communication tool
• Meet your customer’s needs and you will
gain their loyalty
• Loyal customers will most likely stay with
you when competitors come in.
To “think marketing,” figure out what benefit
the customers in your market will need to
get from your product or service.
What are you really selling?
Charles Revlon, the founder of Revlon
cosmetics, famously said, “In the factory
we make cosmetics, in the drugstore we
sell hope.”
Marketing Vision
• To market a product or service
successfully, ask yourself:
– Who are my customers?
– What do they need my product or service to
do for them?
• The answer to those questions will help you form
your marketing vision.
• Customers seek out Nike because they
have been convinced by Nike’s marketing
that the sneakers will inspire them to get
up early in the morning and go for a run.
Use marketing to establish your
brand
• Do all cars do the same thing?
– Yes…they get you from point A to point B
• So why buy a specific car?
– Is safety a priority? Buy a Volvo.
– Do you want luxury? Buy a Lexus.
– Is gas mileage important? Buy a Toyota or a Honda.
• Marketing establishes the brand in the
customer’s mind.
Marketing Brand
• A brand is the name that distinguishes a
business from its competition.
• The brand instantly communicates the
business’s competitive advantage to the
consumer. Example, when you hear:
• Volvo
– You think safety
• Lexus
– You think luxury
• Toyota
– You think good gas mileage
Focus Your Brand
• Focus on one benefit you want to make sure
customers associate with your business.
• The most successful businesses focus their
marketing so that they come to own a category
in the customer’s mind.
– Volvo owns “safety”
– Federal Express owns “guaranteed overnight”
• Can you think of any??
FORD failed
• Edsel (20 different models)
– FORD threw in every gadget they could think
of to appeal to every comsumer.
– There was no clear outstanding benefit to
buying the car.
• When it became public it bombed!
• Ford lost $350 million bucks
• After 2 years FORD pulled the car from
production
FORD successful
• Introduced Mustang 1960s
– Target market 20 to 30 years old.
– Everything made on the car was designed to
appeal to young drivers.
– Only one model was made
• Marketing described the Mustang as “for
the young at heart.”
How to Build Your Brand
1. Choose a business name that is easy to
remember, describes your business, and
establishes “mind share.”
– Mind Share – is the degree to which your
business comes to mind when a consumer
needs something.
How to Build Your Brand
2. Create a logo that symbolizes your
business to the customer.
– Logo is short for “logotype”
•
•
•
Nike swish
McDonald’s Golden Arch
Can you think of any?
How to Build Your Brand
3. Develop a good reputation
– Make the best quality product or service
– Treat your customers like gold
– People must feel good when they think of
your brand
How to Build Your Brand
4. Create a brand personality
–
–
•
Is your brand’s “personality” youthful and casual,
like the Gap’s?
Safe and Serious, like Volvo?
Customers will respond to brand personality
and develop a relationship with it.
–
Personality will reinforce your name and logo
How to Build Your Brand
5. Communicate your brand personality to
your target market
– What type of advertising will best reach your
target market?
– Where should you put flyers?
– What newspapers or magazines does your
target market read?
The Four P’s of Marketing
• Product
• Place
• Price
• Promotion