TACN 3- ESP- KT KDQT

UNIT 5- MARKETING

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https://corporatefinanceinstitute.com/resources/knowled
ge/other/marketing/

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What is Marketing?
Marketing refers to business activities associated with
communicating, advertising, delivering, or selling products or
services to customers. A company undertakes the activities to
promote the sale of a product or service to the target audience.

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 Marketing involves getting consumers interested in the product
offerings by conducting marketing research and gaining a better
understanding of the customer’s interests, tastes, and preferences.
In the process, the marketing personnel creates a marketing plan,
which entails all the activities and channels that the company will
use to draw the customer’s attention to the products or
services offered.

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 A well-thought-out and focused marketing plan will help the
company keep its marketing efforts centered on the target market
and consistently bring in more sales. It should cover the entire
process from product creation, distribution methods, sales, and
advertising methods.

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 Summary
Marketing refers to the activities pursued by a company to promote
its products or services to the target market.
The goal of marketing is to draw the consumers’ attention to the
company’s products and create a relationship with existing
customers.
It involves product development, product distribution,
advertisement, selling, and the delivery of products to the end
consumer.

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 Evolution of Marketing
The history of modern marketing can be traced to the 1950s when
companies used various marketing methods to draw the customers’
attention to a product. Before then, companies used print media to
place ads that enticed consumers to buy their products and services.

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 With the introduction of TV and the internet, companies became
more creative in how they communicated product information to
consumers. They conducted marketing campaigns across multiple
platforms as advertisers competed to outdo other competing
products in the market and get customers interested in their
products. The marketing information should not only be
promotional but also educational to convert more potential
customers into successful leads.

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 Types of Marketing
The type of marketing that a company chooses depends on where
the target market spends their time. The following are the main
types of marketing that are relevant today:

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 1. Traditional Marketing
Traditional marketing refers to any marketing channels that existed
before the advent of the internet. Examples of traditional marketing
channels include print, telephone books, direct mail, phone, radio,
and TV.

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 The channels above charge a fee that corresponds to the size of the
ad, and it helps reach the targeted audience. Traditional marketing
is considered one of the oldest marketing methods, and it is
important when an advertiser wants to reach the local audience

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 Digital marketing

Digital marketing is the opposite of traditional

marketing, and it leverages the internet to reach the target
audience. The main forms of digital marketing include
search engine marketing, content marketing, social
media marketing, email marketing, PPC advertising,
search engine optimization (SEO), etc.

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 Digital marketing

Digital marketing’s become popular in recent years due to the

technological and social shifts that allow consumers to research
and make purchases online. It tends to be more cost-effective
than traditional marketing because businesses can manage the
ads on their own; they do not need to publish ads on print media
or place ads on TV.

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 Digital marketing

Digital marketing enjoys an advantage over traditional

marketing because businesses can control what and how
their target audiences see their ads, and they can measure
the results of their advertisements in real-time.

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 3. Relationship Marketing
The relationship marketing strategy focuses on enhancing existing
customer relationships to build customer loyalty and long-term
engagement. The purpose of relationship building is to create
stronger emotional connections between the customer and the
brand as a way of maintaining formidable customer relationships.
Without building relationships with existing customers, existing
customers may look for alternative brands that offer better
customer service.

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 3. Relationship Marketing
Focusing on relationship marketing helps a business retain
customers in the long-term and focus its efforts on creating new
products or features that meet the arising needs of the consumer.
Companies can leverage technology to offer specialized ads, deals,
and better service to existing customers as an appreciation of their
loyalty.

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 Brand marketing

Brand marketing is a marketing strategy that promotes

the company’s products or services in a way that makes
the brand stand out. The strategy focuses on shaping the
public perception of the brand name and creating an
emotional appeal with the target audience through
humor, creativity, and storytelling.

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 Brand marketing

The goal of brand marketing is to generate discussion around a

topic so that the brand name stands out uniquely from the
discussion. For example, Apple Inc.’s strong brand equity can be
attributed to its success in positioning itself as an innovative
player in the technology industry. Apple products are associated
with product quality, and the company uses creative
communication to enhance sales for individual products and the
overall brand name.

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 Definition of Market Research

Marketing research is the function that links the

consumer, customer, and public to the marketer through
information—information used to identify and define
opportunities and problems; generate, refine, and
evaluate actions; monitor performance; and improve
understanding of it as a process.

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 Definition of Brand
A brand is a name, term, design, symbol, or any other
feature that identifies one seller’s goods or service as
distinct from those of other sellers.
ISO brand standards add that a brand “is an intangible
asset” that is intended to create “distinctive images and
associations in the minds of stakeholders, thereby
generating economic benefit/values.”

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New Types of Marketing
Influencer Marketing
This focuses on leveraging individuals who have influence
over potential buyers and orienting activities around these
individuals to drive a brand message to the larger market.

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New Types of Marketing
Viral Marketing
A phenomenon that facilitates and encourages people to
pass along an advertising message.

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New Types of Marketing
Green Marketing
Refers to the development and promotion of products that
are presumed to be environmentally safe (i.e., designed to
minimize negative effects on the physical environment or
to improve its quality).

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New Types of Marketing
Keyword Marketing
Involves placing a message in front of users based on the
specific keywords and phrases they are using to search.

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New Types of Marketing
Guerilla Marketing
Describes an unconventional and creative strategy
intended to get maximum results from minimal resources.

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New Types of Marketing
Outbound Marketing
In this, the marketer initiates contact with the customer
through methods such as TV, radio and digital display
advertising. It is often used to influence consumer
awareness and preference for a brand.

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New Types of Marketing
Inbound Marketing
Inbound is when customers initiate contact with the
marketer in response to various methods used to gain
their attention. These methods include email, events,
content and web design.
One purpose of inbound, is to establish the business as a
source for valuable information and solutions to problems,
thereby fostering customer trust and loyalty.

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New Types of Marketing
Content Marketing
A technique of creating and
distributing valuable, relevant and consistent content to
attract and acquire a clearly defined audience—with the
objective of driving profitable customer action.

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7Ps

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 MARKETING 7P
The traditional 7Ps of marketing consist of:
1. Product
2. Promotion
3. Price
Place
5. People
6. Process
7. Physical evidence

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 MARKETING 7P
Who created the 7Ps marketing mix model?
The 7Ps marketing model was originally devised by E. Jerome
McCarthy and published in 1960 in his book Basic Marketing. A
Managerial Approach. 
We've created the graphic below so you can see the key elements
of the 7Ps marketing mix.

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MARKETING 7P

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MARKETING 7P

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 MARKETING 7P
What are the 7Ps of marketing?
Products/Services: How can you develop your products or services
Prices/Fees: How can we change our pricing model
Place/Access: What new distribution options are there for customers
to experience our product, e.g. online, in-store, mobile etc
Promotion: How can we add to or substitute the combination within
paid, owned and earned media channels

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 MARKETING 7P
Physical Evidence: How we reassure our customers, e.g.
impressive buildings, well-trained staff, great website
Processes: Are there internal process barriers in the way to
delivering the best customer value
People: Who are our people and are there skills gaps
Partners: Are we seeking new partners and managing existing
partners well?

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 MARKETING 7P
An example of a company using the 7Ps marketing mix in their strategy
Take a look at HubSpot as an example, which was founded in 2006;
Hubspot now boasts over 86,000 total customers in more than 120
countries. Comprised of Marketing Hub, Sales Hub, Service Hub, CMS
Hub, and a powerful free CRM, HubSpot adds value for customers in
every aspect of the 7Ps.

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 MARKETING 7P
What does a successful marketing mix look like?
This is a top-level overview; you would take this into greater
detail and ask the following questions:
1. Products/Services: Integrated toolset for SEO, blogging, social
media, website, email and lead intelligence tools.
2.  Prices/Fees: Subscription-based monthly, Software-As-Service
model based on number of contacts in database and number of
users of the service.

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 MARKETING 7P
3. Place/Access: Online! Network of Partners, Country User
Groups.
4. Promotion: Directors speak at events, webinars, useful guides
that are amplified by SEO and effective with SEO. PPC Social
media advertising, e.g. LinkedIn.
5. Physical Evidence: Consistent branding across communications.

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 MARKETING 7P
6. Processes: More sales staff are now involved in conversion.
7: People: Investment in online services.
8. Partners: Hubspot looks to form partnerships with major media
companies such as Facebook and Google plus local partners
including Smart Insights who it is collaborating with on research
in Europe.

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 MARKETING 9P
9Ps of marketing?
As the scope of marketing continues to develop, so does the
marketing mix. Since 2007, Larry Londre's 9Ps of marketing has
included:
Planning, Process or Marketing Process
People/Prospects/Potential Purchasers/Purchasers (Target Market)
Product

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 MARKETING 9P
Price/Pricing
Place/Distribution
Promotion
Partners/Strategic Alliances
Presentation

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KEY U5- MARKETING

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KEY U5- MARKETING

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