1. Prepare a 10 minute presentation on why marketing is useful
• Marketing Definition – It is the process responsible for identifying, anticipating and satisfying customers requirements profitably
• Market orientation: Businesses are often defined as production- orientated, sales orientated, marketing orientated or social orientated
• Product orientation is where the business has an attitude where it thinks it knows what is best for the customer. This happens when there is not much competition for this product therefore a customer will purchase this product even though it may be not quite what they require.
• Sales orientation is where the business’s employ ...view middle of the document...
• Marketing Principles – Key principles are the marketing concept, segmentation, targeting and positioning.
• Market segmentation – First you have to determine who are your customers. It involves identifying different groups, and so subdividing the market into those groups that can be attacked by a specific marketing strategy. The idea is to select from all potential customers those groups which are most likely to need and want to buy a product.
• Target audience – It is the process of selecting one or more market segments and then developing a product and offer which is aimed specifically at those segments. Target marketing is the link between segment selection and product positioning
• Positioning is the process where the organisation communicates the benefits of the product to target audience.
The term “positioning” applies to placing products in a part of the market where they will fare well in comparison with competing products.
Product positioning involves identifying possible positions for products or services within each segment and differentiating the offering from the competition by highlighting additional features/better availability to the target market.
Once this process is complete, the firm can use the four key elements of the MARKETING MIX
(Known as the 4 P’s)
Product decisions include those concerning the introduction of new products or the withdrawal of existing products. They also involve modifying (differentiation) products, positioning products and branding.
Pricing decisions comprise of setting prices relative to competitors prices, which also involves setting margins and discounts.
Promotion decisions can be categorized under the heading of advertising, personal selling, sales promotion and publicity.
Place or distribution decisions involve choosing what is the best way to get the product or the service to the customer.
To promote your product in order to gain market share, profitability or raise the profile of the company and advertising campaign will be considered
Advertising – Advertising can be at corporate level, where it is used to promote the company name, or at a level of product or brand
Advertising can be used to:
• To create awareness of brand, company or organisation.
• To keep a product or brand name constantly in the mind of the customer. This is usually done with an advert which may have a catchy phrase.
• To simulate interest in a product or brand
• To give out information about what a product or service can do for the customer.
You can also use special offers to create a greater demand in market share. However this object may conflict with profit objective of the company.
Competition - The level of competition in the computer services industry will be very severe. Therefore, It is important to identify the types of competitors within the market.
There are five levels of competitors