LASISI JUBRIL OLUKAYODE

:
CAREER& DISCIPLINE

Researcher, Public Analyst, Entreprenuer & Consultant

STATUS:
MD/CEO KAYLASS Innovations & Investment LTD.

ACADEMICS:
B.Sc (Econs), B.Sc (Bus. Admin), M.Sc (IR&HRM), M.A (Mgt), PhD (HRM in view)

PROFESSIONAL QUALIFICATIONS
FAAE, FCEnt, FCILG (USA), FIPMA, FCIHRM, ACIDS, MNITD, MNIM, ACIDS etc.

promisingscholar@yahoo.com
08035758907, 08124809036
Definition of Marketing
Marketing Skills Required By Successful Entrepreneur and SMEs
Business Owners
 Introduction

 In these challenging times, marketing has a critical role to play in the

success or failure of a business. Marketers, now more than ever
before, are needed to monitor changing client and consumer
behavior, identify new opportunities and threats, and provide
strategic input to successfully guide their companies through the
tough times ahead. As one of the most dynamic, constantly changing
professions, right at the forefront of business, marketing has much to
offer you if you are looking for a lasting and rewarding career
 Intro. Cont’d

➢ Business Politics
➢ Innovation Economy
➢ Knowledge Economy
➢ Business Fraternity and Networking
 What is Marketing?

❑Marketing is putting the right product in the right place, at

the right price, at the right time for the right people, by the
right people.
❑Process by which companies create customer interest in
products or services.
❑Generates the strategy that underlies sales techniques,
business communication, and business development.
❑An integrated process through which companies build
strong customer relationships and create value for their
customers and for themselves.
 Operational Concept of Marketing

 Needs.
 Wants & Demands Target Markets.
 Positioning & Segmentation.
 Offerings & Brands.
 Value & Satisfaction.
 Marketing Channels.
 Supply Chain Competition.
 Marketing Environment
 8. Marketing Environment
a. Task environment: Includes agencies that are involved in producing, distributing and
promoting the offering.
 These are the companies, suppliers and service suppliers ( advertising agencies, banking and
insurance co., transportation co. and telecommunication co.
b. Broad environment: Consists of:-
i. Demographic environment
ii. ii. Economic environment
iii. iii. Physical environment
iv. iv. Technological environment
v. v. Political-legal environment
vi. vi. Social-cultural environment
Attention to these environments should be paid and accordingly the marketing strategies are timely
adjusted.
Marketing Process
 The Process

1. Understanding the marketplace and customer needs and wants.

2. Designing a Customer-Driven Marketing Strategy.
3. Constructing an integrated marketing plan that delivers superior value.
4. Build Profitable Relationships.
5. Capturing Value From Customers.
 MAGICAL Ps

 Pathway – get clear and intentional

 Positioning – create a magnetic presence
 Productivity – find your flow state
 Prosperity – quick employer/client success
 Proficiency – commit to mastery
 Productise – raise your self value
 People – get the right people on your bus
 21st Century

 The current millenium has unfolded new

business rules .The market place is not, what it
used to be. It is changing radically as a result of
major societal forces such as
 Technological Advances,
 Globalisation & Deregulations etc.
 These forces have created new
 behaviours & challenges
 21st Century Customers

NOW CUSTOMERS ARE OBTAINING

EXTENSIVE PRODUCT INFORMATION
FROM THE SATELITE TV & INTERNETS
WHICH PERMITS THEM TO SHOP MORE
INTELIGENTLY.
• THEY ARE EXPECTING HIGHER QUALITY ,
SERVICE WITH SOME CUSTOMIZATION.
• THEY ARE BECOMIMG MORE PRICE
SENSITIVE IN SEARCH OF VALUE
 21st CENTURY FIRMS

THE BRAND MANUFACTURERS ARE ALSO

FACING INTENSE COMPETITION FROM
DOMESTIC AS WELL AS FOREIGN BRANDS.

• THE STORE-BASED RETAILERS ARE FACING

PROBLEMS WITH NEWSPAPERS, MAGAZINES,
TV ADS, DIRECT TO CUSTOMER ADS &
INTERNETS.

• COMPANIES ARE CHANGING THEIR TRENDS

IN THE FORM OF RE-ENGINEERING,
OUTSOURCING, BENCHMARKING ETC.

• THE MARKETERS ALSO RETHINKING THEIR

PHILOSOPIES, CONCEPTS & TOOLS
 IN 21ST CENTURY

 • CHANGING TECHNOLOGY
 • GLOBALISATION
 • DEREGULATION
 • PRIVATIZATION
 • CUSTOMER EMPOWERMENT
 • CUSTOMIZATION
 • INDUSTRY CONVERGENCE
 • RETAIL-TRANSFORMATION
 • DIS & RE-INTERMEDIATION
 MAJOR MARKETING CHALLENGE OF 21ST CENTURY

BUSINESS TODAY FACE 4 MAJOR CHALLENGES&

OPPORTUNITIES :

 • GLOBALISATION
 • TECHNOLOGICAL ADVANCES
 • DEREGULATIONS
 • COMPETITION
 MARKETING SKILLS

 Good communicator: Strong communication is essential for

marketers. If you are unable to communicate information or messages
clearly with colleagues, it’s doubtful whether you will be able to create
effective communications for clients or customers. Good speaking and
writing skills are essential to the career advancement of marketers.
Proposals and strategies are to be well written down by a good marketer
 SKILLS Cont’d

 Creativity: Creativity and analytical skills are also

vital. If you are involved in advertising campaigns you will need to
demonstrate a creative flair, whilst those working in market research
must show strong analytical abilities.
Ability to organize and plan. Common to all marketers, whatever field
they are in, is the need for excellent organizational and planning skills.
Developing integrated campaigns or producing a comprehensive
marketing strategy requires good time management skills and the
ability to prioritize your workload effectively
 Cont’d

Knowledgeable: Marketers should have good product

knowledge. This will aid in effective marketing. It boosts your
confidence when you know the products at your finger tips. You should
not limit yourself to the products alone; a good marketer knows little of
every business/thing.
 It is not enough to know your products, the ability to relate with people
is key for effective marketing.You start selling your products to people
you know. How can you sell to someone you cannot relate with, on his
level?
 Start NOW!

Almost anyone with good common sense,

reasonable interpersonal skills, and a
quick mind can start a career in
marketing. Start from where you find
yourself; your neighbourhood,Mosque,
family and friends
 MARKETING SKILLS PLUS

 To strengthen your ability to think well

 To strengthen your ability to make decisions
 To strengthen your ability to speak and to write
 To strengthen your ability to apply your marketing knowledge
and skills.
 To strengthen your ability to do research.
 To strengthen your ability to ask questions.
 To strengthen your ability to be passionately persistent
 To strengthen your ability to work in a team.
 To strengthen your ability to report to a boss.
 ADVANTAGES OF MARKETING

 Developing products that satisfy needs, including products that

enhance society’s quality of life
 Creating a competitive environment that helps lower product prices
 Developing product distribution systems that offer access to products
to a large number of customers and many geographic regions
 Building demand for products that require organizations to expand
their labour force
 Offering techniques that have the ability to convey messages that
change societal behaviour in a positive way (e.g., anti-smoking
advertising)
 1. THE PRODUTION CONCEPT

 One of the oldest concepts.

 It holds that consumer prefers the products that are inexpensive and
widely available.
 Managers of production-oriented business concentrate on achieving
high production efficiency, low costs and mass distribution.
 Concept often used when a company wants to expand the market.
 2. THE PRODUCT CONCEPT

 Customers favors the products that offer the most quality, performance,
or innovative features.
 Managers focus on making superior products and improving them over
the time.
 A new or improved product is successful only if it is priced, distributed
, advertised and properly sold.
 3. THE SELLING CONCEPT

 Consumers and businesses, if left alone, wont buy enough of the

organization’s products.
 The concept is practiced most aggressively with unsought goods, goods
that buyers do not think of buying, such as insurance and encyclopedia.
 Also practiced in overcapacity.
 Aim is to sell what is made rather than what market wants.
 4. THE MARKETING CONCEPT
Emerged in mid 1950s.
o Product-centered “make-and-sell” philosophy shifted to a customer-
centered“sense-and-respond” philosophy.
o Job to find the right product for the right customer.
o Key to achieve organizational goals is by being more effective than the
competitors in creating, delivering and communicating with the
customers.
 CLASSIFYING THE MARKET

 Market can be classified as follows on the basis of volume of business,

nature of transaction, position of seller, area, contents of transaction,
etc.
 On the basis of volume of transaction:
 1. Wholesale market: The middlemen buy the goods in bulk
form the producers and manufacturers.
 2. Retail market: Goods are sold in small quantity directly to
the consumer.
 On the basis of nature of transaction:

 1. Spot market:
 It is a ready market where the sellers on the
 spot physically hand over goods to the buyers.
 An exchange of goods for money at the same
 time.
 2. Future market:
 It is a market in which the buyers and sellers
 make agreement for delivery of goods in
 future. The contract is made on a certain date
 but the goods will be delivered in future.
 On the basis of position of seller:

 1. Primary market:
 This is the market where the producers of goods sell
 their farm products to the wholesalers and their
 agents.
 2. Secondary market:
 This is the market where the wholesalers sell their
 goods to the retailers for onward selling to the
 consumer. The middlemen buy goods from
 producers and manufacturers and sell to the
 retailers.
 3. Terminal market:
 It is the market where goods are purchased for final
 use or consumption. The retailers sell their goods to
 consumers.
 On the basis of area:

 1. Local market:
 A place for the purchase and sale of different goods within the city. The
buyers and sellers of one city assemble to buy and sell.
 2. Regional market: Consists of many cities and districts of a
particular area. The buyers and sellers of different villages, cities and
districts assemble to buy and sell the different commodities.
 3. National market: Consists of the whole area of country. The
buyers and sellers from all over the country take part in buying and
selling.
 4. International market: Consists of the whole world. The buyers
and sellers from the whole world meet and exchange their foods and
services. The commodities can be bought and sold at different places in
the world.
 5. Commodity market: A market where the different types of
commodities are bought and sold. The wheat, rice, etc. are the
commodities that are exchanged by the buyer and sellers.

6. Money market: A market where the financial institutions deal in

money. The banks and financial institution are engaged in borrowing
and lending of funds.

 7. Stock exchange market: A market where shares and debentures

of different companies are bought and sold.
 CONSUMER BEHAVIOR

 Also called as consumer psychology.

 Study of when, why, how, and where people do or do not buy product.
 Blends elements from psychology, sociology, social anthropology and
economics.
 Studies characteristics of individual consumers such as demographics
and behavioural variables.
 Assesses influence on the consumer from groups such as family,
friends, reference groups, and society in general.
 A greater importance is also placed on consumer retention, customer
relationship management, personalization, customization and one-to-
one marketing.
 Four main applications of Consumer Behaviors:

 1. For marketing strategy

 2. Public policies
 3. Social marketing
 4. Studying consumer behaviour should make us better consumers
 1. For marketing strategy

 For making better marketing campaigns.

 Companies that introduce new products must be well financed so that
they can stay afloat until their products become a commercial success
 It is important to please initial customers, since they will in turn
influence many subsequent customers’ brand choices.
 2. Public policies
 Companies come to know what and how to promote their products.
 E.g.,- Accunate (drug used to cure acne)- Known to cause
deformities in the foetus.

 3. Social marketing
 Involves getting ideas across to consumers rather than selling
something.
 E.g.,- AIDS awareness for anti-HIV drugs.
 4. Studying consumer behaviour should
 make us better consumers e.g.- Paying less for a small pack of
Amrutanjan rather than paying more for a larger pack.
 Market Determination
 Type of buyers a business wishes to attract
 – Gender
 – Age
 – Ethnic background
 – Education
 – Income
 – Occupation
 – Family status
 – Location
 Ethical Criticisms of Marketing

 High prices
 Deceptive practices
 High-pressure selling
 Harmful, or unsafe products
 Planned obsolescence
 Poor service to disadvantaged consumers
 The Marketing Mix
 Marketing managers must focus decisions around 4 Elements of
Marketing
 1. Product
 2. Price
 3. Place
 4. Promotion
Mix
 What is ETHICS?

 The set of moral principles that distinguish what is right from what is
wrong
 Consists of two fold objective
 In Islam, ethics governs all aspects of life. (based on Quran and Sunnah)

 Principles Governing Islamic Ethics

 Unity
 Iman (faith)
 Trusteeship
 Balance
 Justice
 Free will
 FORBIDDEN BUSINESS

 1. Riba
 2. Extortion and taken his property by way of vanity
 3. Cheat and swear to popularize goods
 4. Bribe
 5. Monopolize goods (ihtikar)
 6. Prohibition to buy stolen merchandise, grazing or confiscated
without rights.
 7. Etc..
Digital Marketing
 What is digital marketing?

 Digital marketing is an umbrella term for the marketing of products or

services using digital technologies, mainly on the Internet, but also
including mobile phones, display advertising, and any other digital
medium
Benefits of Digital Marketing
DIGITAL MARKETING CONSIST OF
Cont’d
 Marketing Quotes
1. “It's not what you sell that matters as much as how you sell it!” — Brian Halligan, CEO & Co-
Founder, HubSpot

2. “Many companies have forgotten they sell to actual people. Humans care about the entire
experience, not just the marketing or sales or service. To really win in the modern age, you must
solve for humans.” — Dharmesh Shah, CTO & Co-Founder, HubSpot

3. “Ignoring online marketing is like opening a business but not telling anyone.” — KB Marketing
Agency

4. “Marketing’s job is never done. It’s about perpetual motion. We must continue to innovate every
day.” — Beth Comstock, Former CMO & Vice Chair, GE

5. “For me, pop culture is very fluid: it's music, it's movies, it's books, it's art, it's tech, it's so many
things — and as marketing and brand advocates, we should be able to take products and services
and match them to what's happening in pop culture.” — Bozoma Saint John, CMO, Endeavor
 Cont.
1. “Integrated marketing offers opportunities to break through to consumers in new markets.” —
Betsy Holden, Senior Advisor, McKinsey & Co.

2. “The best marketing doesn't feel like marketing.” — Tom Fishburne, Founder & CEO,
Marketoonist

3. “To continue winning the internet marketing game, your content has to be more than just
brilliant — it has to give the people consuming that content the ability to become a better
version of themselves.” — Michelle StinsonRoss, Managing Director of Marketing Operations,
Apogee Results

4. “Business has only two functions — marketing and innovation.” — Milan Kundera, Writer &
Playwright

5. "Build something 100 people love, not something 1 million people kind of like." — Brian Chesky,
Co-Founder & CEO, Airbnb