Marketing Start up What images spring to mind

Marketing

Start up What images spring to mind when you hear the word ‘marketing’? How has the Internet changed marketing? How would you start marketing a product or idea you had? What’s the difference between marketing and advertising?

Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling the product or service.

Marketing is a critical business function for attracting customers.

Marketing is the link between a society’s material requirements and its economic patterns of response.

Marketing satisfies the needs and wants through exchange processes and building long term relationships.

Marketing is the process of communicating the value of a product or service through positioning to customers.

Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and managing customer relationships in ways that also benefit the organization and its shareholders.

Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer buying behavior and providing superior customer value.

7. Marketing and Selling: Sales and marketing are different Basic economics Marketing; Channels ; Market Communications Stages in Selling Control and Commissions

Sales and Marketing Sales ◦ ◦ ◦ Very Measurable Still individualistic Short Goal Orientated Some computerisation Some process Marketing ◦ ◦ ◦ Cloudy to say the least Behind the scenes Strategic Computerised Highly processed 11

Sales and marketing are different Marketing: What and how to sell Selling: Moving the product Relationship management

Sales techniques: listen to the customer Needs Concerns Authority

Stages in Selling Prospecting Pre-approach Approach Survey Proposal Demonstration Close Service

Channels Direct Sales Distributor/Retailer ◦ Distributors are your customers National International Chose carefully - ◦ changing is expensive and difficult ◦ Key sales ◦ Opinion formers

Direct sales Bespoke - ◦ sales staff/ Customer relationship manager ◦ cash flow Mail order requirements ◦ Product ◦ Guarantees ◦ Stocking ◦ Support ◦ Key accounts ◦ Market communications

Distribution Channel Typical product ◦ 40% manufacturer development, materials, overheads, profit, research ◦ 30% distributor Advertising, stocking, profit ◦ 30% retailer Local adverts, shop front, staff, profit International ◦ Localisation ◦ Country agent control/performance

Selecting Sales and Marketing Personnel • To select personnel for international marketing positions effectively, management must choose individuals who have the following traits: 1. Maturity 4. Flexibility 2. Emotional Stability 5. Cultural Empathy 3. Breadth of Knowledge 6. Energetic and 7. Enjoy Travel

Motivating Sales Personnel • • • Motivation is especially complicated because the firm is dealing with different cultures, different sources, and different philosophies The social and competitive contexts still require different motivational systems. Individual incentives that work effectively in the United States can fail in other cultures For example, with Japan’s emphasis on paternalism and collectivism and its system of lifetime employment and seniority, employees seem to derive the greatest satisfaction from being members of a group; so an offer of an individual financial reward for outstanding individual effort may not work Compensation in Eastern European countries typically involve a greater emphasis on base pay than in the United States, and performance-based incentives have been found to be less effective

Note the use of the following sentence connectors

for the purpose of Idioms: on purpose (intentionally; deliberately. to good purpose (with good results) to little/no purpose (with few or no results) Marketing is the process of communicating …, for the purpose of selling the product or service.

As an example, a firm may conduct research in a target market, after selecting a suitable market segment.

For example, a start-up car manufacturing firm would face little success should it attempt to rival Toyota, Ford, Nissan, Chevrolet, or any other large global car maker.

In contrast, (different from) In contrast, marketing research relates to all research conducted within marketing.

Thus, (as a result or consequence of this; therefore) (in the manner now being indicated or exemplified; in this way) Thus, market research is a subset of marketing research.

Generally speaking, an organization's marketing planning process is derived from its overall business strategy.

Accordingly, (in an appropriate manner; suitably, so, consequently, in accordance; correspondingly, therefore; in due course) Accordingly, a plan is required in order to effectively manage such products.

Evidently, (without question; clearly; undoubtedly, to all appearances; obviously; clearly; according to the evidence available) Evidently, a company needs to weigh up and ascertain how to utilize its finite resources.

Moreover, (beyond what has been stated; besides; in addition to what has already been said; furthermore) Moreover, a product may be reaching the end of its life-cycle.

Note the expressions It is the process of communicating the value of a product or service through positioning to customers. The process involves forging a plan for a firm's marketing activities.

Class assignment Divide into groups of three to four. Summarize the text Marketing and discuss the following:

Marketing research Market and marketing research Marketing planning Marketing strategy Write three to five sentences about each item. YOURS ONLY!!!!!! Use the sentence connectors mentioned above

Do or Make collocation quiz: What do you _____ for a living? Have you _____ your homework yet? Have you _____ a decision yet? Amber _____ badly in her geography exam. The children _____ a mess in the kitchen.

We are having guests tonight, so please _____ your bed. I _____ only one mistake in my English test. I'd like to ask you to _____ me a favour. My husband _____ the grocery shopping. Please excuse me while I _____ a phone call.

Comprehension 1. The purpose of marketing is to sell a product or a service. T / F 2. According to experts, market research and marketing research are synonyms. T / F 3. Marketing research provides management with relevant information on how well a product is being sold. T /F 4. The choice of a firm’s marketing strategy depends on its overall business strategy. T / F 5. Marketing strategy and marketing tactic are synonyms. T / F

Internet Homework Assignment Search the Internet and find a successful marketing campaign. Discuss.