Principles of Marketing

Saad Asad
 What is marketing

The right product, in the right place, at the right

time, at the right price
 Evolving process
• Either you change or you die
 What is marketed
• Goods
• Services
• Events: example Olympics or world cup
• Experiences : amusement parks
• Persons: like amitabh bachan
• Places : like dubai
• Information
• ideas
 Marketing concepts
• The simple trade era
• The production concept
• Product concept
• Selling concept
• The marketing concept
 Marketing mix

• PRODUCT
• PRICE
• PLACE
• PROMOTION
 CORE CONCEPTS
• NEEDS
• WANTS
• DEMAND
 Core competency
• Core competencies are those capabilities that
are critical to a business achieving competitive
advantage.
• Nike – shoe design
• Sony - miniaturization
Growth Matrix
Market penetration
 Market development
• Money
• Growth
• Concentration
• literacy
Product development
diversification
• Related and unrelated
• Gourmet bakers
 Market segmentation
• The purpose for segmenting a market is to
allow your marketing/sales program to focus
on the subset of prospects that are "most
likely" to purchase your offering.
• Examples:
• Gender
• Price
• Interests
 POSITIONING
• In marketing, positioning has come to mean the process
by which marketers try to create an image or identity in
the minds of their target market for its product, brand, or
organization.
• Re-positioning involves changing the identity of a
product, relative to the identity of competing products, in
the collective minds of the target market.
• De-positioning involves attempting to change the identity
of competing products, relative to the identity of your
own product, in the collective minds of the target market.
 POD
• POINT OF DIFFERENCE
• Nike – performance
• Lexus- quality
Fedex – efficiency
BMW – ultimate driving machine
Apple – user friendly
Using Maslow
 AIDA
• Inform – remind- persuade

• Attention – interest- desire – action

• Example – close up
 Buying model
• User
• Buyer
• Influencer
• Decider
• gatekeeper
 Marketing research
• Market research is any organized effort to
gather information about markets or
customers. It is a very important component
of business strategy.[1] The term is commonly
interchanged with marketing research;
• Qualitative and quantitative
• Open and closed questions