process of planning and executing the:
Distribution of ideas, goods, and services tocreate exchanges that satisfy individual andorganizational objectives.
motivate & encourage people
facilitate them to act (buy)
get them to buy again
Define your product/servicePromotion / promotingDistribute your product/serviceMaintain a relationship
Building and nurturing a relationshipCreate, expand and maintainUnderstand consumer behavior
how people buy, what they buy, when theybuy and why they buy
Customer focus (orientation):
The information is disseminated throughoutthe firm and products are developed
Customer satisfaction is monitored andadjustments made if necessary.
3 Assumptions of Transactional Marketing
There is a large number of potentialcustomers
Customers and their needs are fairlyhomogenous
It is rather easy to replace lost customers withnew on3 Levels of Marketing
'What business should we be in andwhat opportunities should wepursue?'
This is marketing before weeven have a business, idea or product.
'How are we going to competeagainst the competition?
'Focused onthe competition; deals with long termsustainable advantages and businessmodels
'How do we create and keepcustomers?
'; '4ps' of the marketing mix. This level of marketing defines and
determines what its potential customers desire
them and then
them in a way that helps a companycreate and sustain demand for theirproducts.
4Ps of Marketing
: The Product management andProduct marketing aspects of marketing dealwith the specifications of the actual good orservice, and how it relates to the end-user'sneeds and wants.
: This refers to the process of setting aprice for a product, including discounts.
: This includes advertising, salespromotion, publicity, and personal selling, andrefers to the various methods of promoting theproduct, brand, or company.
or distribution refers to how theproduct gets to the customer; for example,point of sale placement or retailing. This fourthP has also sometimes been called Place,referring to the channel by which a product orservice is sold (e.g. online vs. retail), whichgeographic region or industry, to whichsegment (young adults, families, businesspeople), etc.
Advertising is paid communication through a non-personal medium in which the sponsor isidentified and the message is controlled.
publicity & public relations
(plug on sitcom)
sponsorship & underwriting spots
viral advertising refer to marketing techniquesthat use pre-existing social networks to produceincreases in brand awareness.
Ease of executing the marketing campaign,
Relative low-cost (compared to direct mail)
High and rapid response rate
Mass Market vs. Niche Market
a real commercial product is used in fictional or non-fictionalmedia, and the presence of the product is a result of aneconomic exchange. When featuring a product is not part of an economic exchange, it is called a
spots usually mention the name of the sponsor, and canresemble traditional advertising in commercial broadcasting,but there are usually legal restrictions, such as a prohibition of making product claims, announcing prices, or providing anincentive to buy a product or service.