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