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  • Lecture 12 - Promoting The Business PDF

    Загружено:

    Ibrahim Munir
    28 просмотров12 страниц
    Marketing involves identifying and meeting customer needs to be profitable. It is defined as managing the process of identifying, anticipating, and satisfying customer requirements for profit. The foundations of modern marketing theory were built by major US companies in the early 20th century. A classic marketing strategy planning process involves external and internal analysis to identify opportunities, threats, strengths and weaknesses. This informs the marketing strategy, which is implemented via a marketing plan and evaluated. The "4Ps" of marketing - product, price, place, and promotion - comprise the core elements of a marketing strategy. Additional Ps like people and physical evidence have also been added. Marketing to small businesses focuses on networking, word-of-mouth, and interactive methods like incentives and involvement

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    Marketing involves identifying and meeting customer needs to be profitable. It is defined as managing the process of identifying, anticipating, and satisfying customer requirements for profit. The foundations of modern marketing theory were built by major US companies in the early 20th century. A classic marketing strategy planning process involves external and internal analysis to identify opportunities, threats, strengths and weaknesses. This informs the marketing strategy, which is implemented via a marketing plan and evaluated. The "4Ps" of marketing - product, price, place, and promotion - comprise the core elements of a marketing strategy. Additional Ps like people and physical evidence have also been added. Marketing to small businesses focuses on networking, word-of-mouth, and interactive methods like incentives and involvement

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    © All Rights Reserved
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
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    28 просмотров12 страниц

    Lecture 12 - Promoting The Business PDF

    Загружено:

    Ibrahim Munir
    Marketing involves identifying and meeting customer needs to be profitable. It is defined as managing the process of identifying, anticipating, and satisfying customer requirements for profit. The foundations of modern marketing theory were built by major US companies in the early 20th century. A classic marketing strategy planning process involves external and internal analysis to identify opportunities, threats, strengths and weaknesses. This informs the marketing strategy, which is implemented via a marketing plan and evaluated. The "4Ps" of marketing - product, price, place, and promotion - comprise the core elements of a marketing strategy. Additional Ps like people and physical evidence have also been added. Marketing to small businesses focuses on networking, word-of-mouth, and interactive methods like incentives and involvement

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    © All Rights Reserved
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
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    из 12

    Dr Noor Muhammad

    noormuhammad@giki.edu.pk

    Marketing deals with identifying and meeting human


    and social needs. One of the shortest definitions of
    marketing is meeting needs profitably.
    Kotler and Keller (2006)

    Marketing is the management process responsible for


    identifying, anticipating and satisfying customer
    requirements profitably.
    Chartered Institute of Marketing

    MARKETING = UNDERSTANDING AND SATISFYING


    CUSTOMER NEED
    FOUNDATIONS OF MARKETING THEORY BUILT BY
    MAJOR U.S. FIRMS (COCA COLA; PROCTER &
    GAMBLE)

    EXTERNAL ANALYSIS

    The Current
    Market

    Opportunities
    and Threats

    SWOT

    Current Internal
    Compentencies

    Future
    Objectives

    Marketing
    Strategy

    Plan
    Impleme
    ntation

    Marketing
    Plan

    Evaluation
    and
    Performance
    Control

    Strengths
    and
    Weaknesse
    s

    INTERNAL ANALYSIS

    THE CLASSIC MARKETING STRATEGY PLANNING PROCESS

    Set of arrangements

    Group of buyers and sellers

    Zone of customer choice

    Goods can be thought of as bundles of


    characteristics

    1.

    What business are we in? (Sector)

    2.

    Where do we want to go? (Objectives)

    3.

    How do we get there? (Marketing strategy)

    The Marketing Mix: The major elements of a marketing strategy are


    the four Ps of marketing.
    1.
    2.
    3.
    4.

    Product
    Price
    Place
    Promotion

    In addition to these more common traditional 4Ps, there are other Ps


    added to the list.
    5.
    6.
    7.

    People
    Process
    Physical evidence (testimonials)

    Incremental
    INNOVATION
    and adjustment

    INFORMATION
    gathering through
    networking

    Bottom-up
    IDENTIFICATION
    of target
    markets
    INTERACTIVE
    marketing
    methods
    INFLUENCE of word-of-mouth
    IMAGE building
    INCENTIVES INVOLVEMENT

    Carter and Jones-Evans (2006)

    1.

    Target market

    2.

    Marketing message

    3.

    Marketing media

    4.

    Marketing route

    5.

    Marketing goals

    6.

    Marketing resources

    Focus all business decisions on the customer


    Marketing mix
    Proximity
    Benefits v attributes
    User
    Early promotion
    Direct mail
    Literature

    Using a Stage Model of Finance approach,


    please explain various sources of finance for an
    entrepreneur to start a new venture?
    Time: 15 Mints
    Total Marks: 10

    Explain your arguments in the light of your knowledge, understanding, ideas,


    experience and observation of the entrepreneurs and entrepreneurship
    and their businesses.
    Words Limit : 4000 excluding references
    Submission deadline : 23/04/2014

    Group Assignment

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