MARKETING & BRANDING
MARKETING
● = management process - responsible - identifying, anticipating + satisfying customer reqs.
● Customer = <3 of marketing - ignoring customer’s needs + wants - won’t succeed.
● Assesses market forces + developments - impact business position - market.
● About right product/service @ right time, place + price.
AIM OF MARKETING:
● Satisfy customers’ needs + wants.
○ Without proper marketing - can’t get close + understand customer - won’t succeed.
● Not only advertising + selling - it’s management discipline - helps producers - understand consumer
beh - interpreting wants, needs + desires & matching or exceeding them.
● Central to business performance - addresses largest aspect - company’s comp adv.
● Effective marketing - retain/gain more customers, build/improve on a brand, build on sales + generate
profits - can be used to reinvest.
7 P’S OF MARKETING:
● PRODUCT:
○ Ensure - delivering a product that consumers want to buy.
○ Must add value to the consumer (marketing depart. needs to understand different categories:
consumer goods, industrial goods or services)
○ Can be tangible and intangible
○ Need correct systems - evaluate what consumer thinks + their beh - if there’s change in wants
+ needs - need to adapt.
○ Packaging - important - just as desirable as products sometimes + serves to recognise product.
● PRICE:
○ Products + services - only worth what customers are willing to pay (opp cost).
○ Price charged - competitive adv - not cheapest price but best value for money.
○ Price - provide profit - only marketing element - generates revenue.
○ Helps position business in the marketplace
○ Determines level of quality + value consumers will expect.
○ Price sensitivity - will a change in price affect loyalty of customers (existing customers - less
price sensitive - gained their loyalty. New customers - need to see value of product before
paying the price)
■ Type of product may affect price sensitivity (essential goods - less price sensitive than
shopping goods).
○ Can price above/below market value.
, ● PLACE:
○ Where the consumer will buy the product + includes distribution channels.
○ Product - available @ right time, place + quality, while keeping costs - acceptable level
(transport, storage).
○ Choosing good supplier - key at maintaining comp adv.
○ Depending on product, target market + price - consider if product is intensively, selectively or
exclusively distributed.
■ Bread - intensively distributed - can be bought from many places.
■ middle range cars - selectively distributed.
■ Upmarket jewellery - exclusively distributed - only available at exclusive distributors.
○ Franchising - popular means of distribution - gives customers sense of quality + reassurance -
brand is known and trusted.
○ Place also includes - way products are displayed - shop windows to internet websites.
● PROMOTION:
○ Way the business communicates what it does + what it offers.
○ Promotion activities include: branding, advertising, PR, corporate identity, personal sales, sales
management, special offers + exhibitions.
○ About gaining correct amount of attention & message must be consistent + appealing to win
consumers from competitors.
○ Means communication with stakeholders - ensuring high level of transparency on all levels.
● PEOPLE:
○ Anyone - comes in contact with consumer - have impact on them - profound effect on level of
satisfaction received from the business.
○ Brand + reputation - depends on people - correct training + motivation - given - correct
attitude.
■ Employees = face of business
○ Need to ensure - employees are correctly trained.
■ Evaluations- take place - no performance gap.
○ Consumers don’t separate product/ service from employee.
○ After sales services + advice - add value to the product/ service.
■ Will become more important than the price to the customer
■ Important to look at products - highest % of sales - evaluate if there is necessary after
sales support.
● PROCESS:
○ Giving a service - crucial - level of customer satisfaction received.
○ What matters the to customers - correct systems are in place + that they are working.
○ This shouldn’t be overlooked:
■ customer trying to reach the business through the phone - vital source of income +
returning value - but often left on hold for long or given the wrong info.
■ Consumers will give up - poor business process - left with a negative impression.
○ Important - process isn’t faulty - first experience customer will have - could be greatest
contributor to comp adv.
MARKETING
● = management process - responsible - identifying, anticipating + satisfying customer reqs.
● Customer = <3 of marketing - ignoring customer’s needs + wants - won’t succeed.
● Assesses market forces + developments - impact business position - market.
● About right product/service @ right time, place + price.
AIM OF MARKETING:
● Satisfy customers’ needs + wants.
○ Without proper marketing - can’t get close + understand customer - won’t succeed.
● Not only advertising + selling - it’s management discipline - helps producers - understand consumer
beh - interpreting wants, needs + desires & matching or exceeding them.
● Central to business performance - addresses largest aspect - company’s comp adv.
● Effective marketing - retain/gain more customers, build/improve on a brand, build on sales + generate
profits - can be used to reinvest.
7 P’S OF MARKETING:
● PRODUCT:
○ Ensure - delivering a product that consumers want to buy.
○ Must add value to the consumer (marketing depart. needs to understand different categories:
consumer goods, industrial goods or services)
○ Can be tangible and intangible
○ Need correct systems - evaluate what consumer thinks + their beh - if there’s change in wants
+ needs - need to adapt.
○ Packaging - important - just as desirable as products sometimes + serves to recognise product.
● PRICE:
○ Products + services - only worth what customers are willing to pay (opp cost).
○ Price charged - competitive adv - not cheapest price but best value for money.
○ Price - provide profit - only marketing element - generates revenue.
○ Helps position business in the marketplace
○ Determines level of quality + value consumers will expect.
○ Price sensitivity - will a change in price affect loyalty of customers (existing customers - less
price sensitive - gained their loyalty. New customers - need to see value of product before
paying the price)
■ Type of product may affect price sensitivity (essential goods - less price sensitive than
shopping goods).
○ Can price above/below market value.
, ● PLACE:
○ Where the consumer will buy the product + includes distribution channels.
○ Product - available @ right time, place + quality, while keeping costs - acceptable level
(transport, storage).
○ Choosing good supplier - key at maintaining comp adv.
○ Depending on product, target market + price - consider if product is intensively, selectively or
exclusively distributed.
■ Bread - intensively distributed - can be bought from many places.
■ middle range cars - selectively distributed.
■ Upmarket jewellery - exclusively distributed - only available at exclusive distributors.
○ Franchising - popular means of distribution - gives customers sense of quality + reassurance -
brand is known and trusted.
○ Place also includes - way products are displayed - shop windows to internet websites.
● PROMOTION:
○ Way the business communicates what it does + what it offers.
○ Promotion activities include: branding, advertising, PR, corporate identity, personal sales, sales
management, special offers + exhibitions.
○ About gaining correct amount of attention & message must be consistent + appealing to win
consumers from competitors.
○ Means communication with stakeholders - ensuring high level of transparency on all levels.
● PEOPLE:
○ Anyone - comes in contact with consumer - have impact on them - profound effect on level of
satisfaction received from the business.
○ Brand + reputation - depends on people - correct training + motivation - given - correct
attitude.
■ Employees = face of business
○ Need to ensure - employees are correctly trained.
■ Evaluations- take place - no performance gap.
○ Consumers don’t separate product/ service from employee.
○ After sales services + advice - add value to the product/ service.
■ Will become more important than the price to the customer
■ Important to look at products - highest % of sales - evaluate if there is necessary after
sales support.
● PROCESS:
○ Giving a service - crucial - level of customer satisfaction received.
○ What matters the to customers - correct systems are in place + that they are working.
○ This shouldn’t be overlooked:
■ customer trying to reach the business through the phone - vital source of income +
returning value - but often left on hold for long or given the wrong info.
■ Consumers will give up - poor business process - left with a negative impression.
○ Important - process isn’t faulty - first experience customer will have - could be greatest
contributor to comp adv.
