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A brief presentaion on The Art of Marketing in a nutshell. I t includes Market Research,Analysis,Sratergies,Competitive Analysis and SWOT Analysis.
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Made By:Jaskaran Singh Kohli
Introduction
• Marketing is the process of communicating the finished product or service to customers.
• It is the common link between the final product and the customer.
• It is also interpreted as the art of selling products by attracting customers.
• It is one of the founding pillars of any business enterprise.
Product → Solution
Promotion → Information
Price → Value
Place (Distribution)
→ Access
Marketing
Market Research
• Marketing research involves conducting and collecting research activities and statistics information.
• Marketing research provides the management with relevant, accurate, reliable, valid, and current information about customer's taste, needs and the latest fashion and trends.
• It includes both qualitative and quantitative aspects.
Market Analysis & Assessment
Make sure you include:• who will buy your product or service.• where your market is located: local, regional,
state, national or international.• the state of the market: is it growing, declining,
segmented.• market influences such as seasonal price
fluctuations or trends.• the price range: based on your target market will
it be high, low or in the middle.
Analyzing
Marketing Planning
• Marketing Planning involves forming a plan to undertake various Marketing Activities.
• A Market Plan should include the following:1. Financial data—Facts for this section will come
from management accounting, costing and finance sections.2. Product data—From production, research and development.3. Sales and distribution data — Sales, packaging, distribution
sections.4. Advertising- sales promotion, merchandising data.
Marketing Strategies• Understanding CustomerDevelop a clear picture the target customer using market research and analysis. Understand the needs and wants of the customer.• Analyze the MarketSome basic market research allows find market data such as total available market, market growth), market trends, etc.• Analyze the CompetitionResearch and assess the strengths and weaknesses to formulate a competitive marketing strategy.• Medium of AdvertisingChoosing the most suitable and affordable means of advertising and marketing the product.• Analyze the FinancialsKeeping in mind the budget and financial capacity of the business.• Review and ReviseContinuously evaluate the effectiveness of your marketing strategy, and revise or extend as needed.
Marketing Strategies
Advertising
• Advertising is a form of communication of marketing and promoting products among the customers.
• Advertising messages are usually paid for by sponsors and viewed via various traditional media; including mass media such as newspaper, magazines, television commercial, radio advertisement, outdoor advertising, blogs, websites or text messages.
• Advertising is very costly but is still done with the hope of increase in sales and revenue.
Types of Advertising
Television Advertising
Radio Advertising
Online Advertising
Press Advertising
In-Store Advertising
Street Advertising
Social Advertising
Competitor Analysis
Things to keep in mind:• who and where they are• how you'll position your product or service
against them• your product/service features against theirs and
what gives you a competitive edge • the benefit/s of your service/product to the
consumer• comparison of your pricing, promotion and
distribution
Competitor Analysis - SAMPLE
Competitor
Date Establishe
dSize
Market share (%)
Value to customers
Strengths
Weaknesses
Their name
When they started
Staff #s or turn-over
Estimated percentage of market share
Their unique value to customers, e.g. convenience, price, quality, service
Their main strengths
Their main weaknesses
SWOT Analysis
• A strategic SWOT (strengths, weaknesses, opportunities and threats) analysis will help you turn your knowledge into strategy which you can then turn into actions.
• It provides direction to the business and its marketing strategies.
• Lists ways you can capitalise on your strengths and take advantages of opportunities.
SWOT Analysis- SAMPLE
Strengths Weaknesses Advantages the business can exploit, e.g.
good customer service innovative edge unique products
Areas of the business that need to be acted on, e.g. poor website not enough staff training
Opportunities Strategies using strengths to address opportunities
Strategies to reverse weaknesses to address opportunities
Marketplace areas that can be built on, e.g. gaps in the market competitor closure
Ways to take advantage of business strengths, e.g. promoting good customer service to
attract competitor’s customers
Ways to ensure weaknesses don’t hamper opportunities, e.g. hiring an experienced trainer to
upskill staff provide better customer service,
something no one is offering well at the moment
Threats Strategies to counter threats with strengths
Strategies to fix vulnerabilities
External issues that could affect the success of the business, e.g. decrease in consumer
demand sudden increase in
costs
Ways to use business strengths so threats are not a problem, e.g. launching new product to
revitalise consumer demand
Ways to address areas where the business may be vulnerable, e.g. utilising new technologies or
social media to reach potential customers
adapting green practices to minimise costs
THANK YOUJaskaran Singh Photography
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