Marketing Management

Marketing Management…
An Overview
According to Philip Kotler, Father of Modern Marketing…

Marketing management is the

art and science
of choosing target markets, and getting,
keeping and increasing customers, through
delivering and communicating superior
customer value as a means of generating
an acceptable profit
According to William M. Pride, Marketing Professor
Mays Business School, Texas

Marketing is the process of creating,

distributing, promoting, and pricing goods,
services and ideas to facilitate satisfying
exchange relationships in a dynamic
environment
Kotler said:

“Marketing is a race without a finishing line”

And Kotler added:

“Marketing is not the art of finding clever ways

to dispose of, what you make.. but
it is the art of creating genuine customer value”
As the saying goes…
“There are three kinds of companies:
those who make things happen;
those who watch things happen; and
those who wonder what has
happened”
 The essence of Marketing is
a transaction -an exchange- intended to satisfy
human needs and wants comprising the 3
elements in the marketing process:
 marketers
 what is being marketed
 target market
Marketing Management
The Definition
by Philip Kotler

It is the planning, analysis, implementation

and control of programs designed to create,
build and maintain beneficial exchanges and
relationships with target markets for the
purpose of achieving organizational objectives
 Demands and Marketing Task
State of Demand Marketing Task
Negative demand Conversional marketing
No demand Stimulational marketing
Latent demand (dormant) Developmental marketing
Falling demand Remarketing
Irregular demand Synchro-marketing
Full demand Maintenance marketing
Overfull demand Demarketing
Unwholesome demand Counter-marketing
Negative Demand
A type of demand which is created if the
product is disliked in general,
such that the product might be beneficial
but the customer does not want it

No demands
Certain products face the challenge of no
demand for product or services whatsoever and
this state happen due to the product being
obsolete or general disinterest in the minds of
the consumer
Latent Demand
A demand which the customer realizes late,
thus, while buying the product, the customer
might not desire some features, but later on,
might think about those features and buy the
product

Declining demand
Consumers begin to buy the product less
frequently or not at all
Irregular demand
Consumer purchases vary on a seasonal,
monthly, weekly, daily, or even hourly basis

Full demand
Consumers are adequately buying all
products put into the marketplace
Overfull Demands
This happens when company's manufacturing
capacity is limited but the demand is more
than supply

Unwholesome demand
Consumers may be attracted to products that
have undesirable social consequences
Marketing Management Philosophies
by Philip Kotler, Father of Modern Marketing
 Production
Concept

Social
Product
Marketing
Concept
Concept Marketing
Management
Philosophies

Marketing Selling
Concept Concept
1- Production concept -
The Production concept assumes that
consumers favor highly available and affordable
products, and therefore, management should
focus on production and distribution processes

2- Product concept -
The product concept of marketing is a concept
that believes the buyers will purchase the
products or services that have the most quality,
performance, and innovative features for the
given prices
Basic Production Concept Product Concept
Focus Producing goods in bulk Delivering a quality
quantity and pushing it product that would
in the market satisfy the needs &
wants of customers
Means Supply in bulk into Improve the quality of
market so that it would the goods/services
be easily available to continuously
the customers
Ends Earn profit by Earn profit by delivering
manufacturing products and producing the
at a mass scale quality products in the
market
Examples Amazon, Vivo Microsoft, Apple, Google
3. Selling concept -
This concept is based on the premise
that the customers will not buy
goods/services of your brand unless the
business carries out promotional and
marketing activities
to accelerate their product in the market
 Selling And Marketing Concepts
Contrasted
Selling Concept
Starting Point Focus Means Ends
Factory Products Selling and Profit
Promoting through
sales
volume
Marketing Concept
Target Customer Coordinated Profit
market needs marketing through
customer
satisfaction
4- Marketing Concept –
A marketing concept places the center of
focus on the customer where all the activities
that are undertaken are done keeping the
customer in mind, hence, the organization is
more concerned about creating value
propositions for the customers, which will
differentiate them from the competition
5- Societal Marketing Concept
This is the most advanced form of the
marketing concept as its focus is on needs
and wants of the customer as well as ensuring
the safety of the customer and society first
because it believes in giving back to society
and making the world a better place for all
human beings
This concept is also termed “the human
concept”, “the intelligent consumption
concept” and the “ecological imperative
concept”
Nature of Marketing…

 Customer Focus
Marketing is a customer-centered function
of the business which aims at finding out what
customers want and fulfilling their needs
by delivering them the right products
 Creates Market Offering
Marketing offers various goods and
services to potential customers as it is
the one that communicates all information
regarding products like its prices, uses,
quality, and technology to customers
 Exchange Oriented
It is a process which aims at exchanging
products among buyer and seller where
marketing attracts and influences people to
buy the products or services of the company
 Continuous Activity
Marketing is a regular and continuous
activity of business for selling their products
as businesses always need to
monitor the marketing environment and should
accordingly plan, implement, and control all
marketing programs
 Goal-Oriented
Marketing is a goal-oriented business
activity that aims at achieving the desired
sales and profitability that focuses on
approaching more and more customers and
thereby satisfying their needs by delivering
them the required goods or services
 Manages 4 P’s
It is a combination of four elements that
are product, place, price, and promotion
where the whole marketing system
is made up of these variable factors
which are influenced by customer behavior,
competition, trade factors, etc.
4 Ps of Marketing…
by Neil Borden,

1. Product
A product is the heart of the marketing
mix such that all marketing activities
begin with the product where the product
it captures the whole tangible and
intangible aspects like services, personality,
organization, and ideas
Without a product, we have nothing
to price, promote or place
2. Price
Price is the monetary value that has
to be paid by a customer to acquire or own
the product of a company where it is the
revenue-generating component of the firm,
so the marketer must know the art of
exerting the price
3. Promotion
It aims to inform potential customers
about the product as it persuades
them to buy the product which include
various means to communicate
with the target audience
4. Place (or Distribution)
Place or physical distribution deals with
the transfer of ownership of the product
from the manufacturer to the customer
wherein the margin of profit depends on
how quickly you can turn over the goods
such that the more swiftly the products
reach the point of sale
 Creates Utility
It establishes usefulness to the consumer
through four different means form (kind of
product or service), time (whenever needed)
and place (availability)

Form utility involves changing raw

materials into useable goods or
putting parts together to make them
more useful like manufacturing
canned goods or car assembling
Time utility is having a product available at
a certain time of the year or a
convenient time of the day like
retailers offer large supplies of
backpacks in the late summer near
the start of school year

Place utility is having a product where

customers can buy or outlets that
include catalogues, the internet, retail
stores
 Economic Process
It is a process that involves exchanges
of goods in monetary terms through
monetary transactions as per the
exchange value of goods take place for
transferring goods among buyers
and sellers
Scope of Marketing…
 Create Awareness
Marketing is the medium through which
companies communicate with the public and
explain the features or benefits of their
products where marketing helps in creating
wide publicity of goods and services in the
market
 Studies Customer’s Wants
Business through their marketing programs
interacts with customers and understands
their behaviors bearing in mind that
understanding customers’ demands
helps in designing the right product which
satisfies their needs
 Product Planning
Product planning starts with the
generation of the idea and continues until the
product is ready to be launched
in the market reflecting the needs of the
consumer and the currently available
competition in the market
 Advertising
Through marketing, businesses are able to
condition the minds of people about the
goodness of the product where advertisement
also helps to increase the sale significantly and
ultimately the profits, which is done through
various media sources such as newspapers,
television, magazines, hoardings, the internet,
etc.
 Pricing Policies
Cost of manufacturing the product,
government policies, marketing,
competitors price, etc. are the factors that
influence the price of the product
Distribution
Selecting a distribution channel means
defining the route of the goods they
will take while reaching from the producer
to the ultimate consumer where
wholesaling and retailing are the two
most popular distribution channels
 Selling
It refers to the process of vending what is
manufactured by the company as a product or
services directly or indirectly to the targeted
consumers that involves performing and
managing various activities simultaneously
such as approaching to the new consumers,
distributing the free samples, making sales on
a huge discount, and getting feedback
 Packaging and Labelling
Packaging involves designing and producing
the external covering for the product which will
keep the product safe and hygienic inclusive of
the product information which adds to the
appeal of the product which ultimately helps in
sales promotion
Elements of Marketing…
by Hitesh Bhasin
A Marketing Professional

 Research –
If you want to launch your own company or a
product, first is do market research to
determine what the market actually wants,
what message should the company adopt,
which medium will be best, and what
positioning needs to be achieved to target the
right segment
 Strategy –
After research, strategies decide the vision of
the company, its goal, its mission and in
general where the company wants to be such
that the strategic plan needs to be well thought
of by realistically considering all possibilities
 Planning –
The marketing plan involves sales forecasting,
financial planning, communications
strategy and how the company is going to
achieve its strategic goals in the future where
the planning department keeps a track of the
timeline so that time to time the company can
determine whether they are on track with the
strategic plan or not
 Tactics –
These are the street smart, short term plans
to attract customers, beat your competitors,
increase sales, provide a better value for your
customers or for any other short term objective
which needs to be achieved
Marketing System…
by John Watson, President of Accrue Performance Marketing and
Author of Mastering Marketing

A marketing system creates a repeatable, step

by step routine for initiating and developing
client relationships to maximize lifetime value
and drive earnings growth
Creating a Marketing System…
 Create your marketing plan
Before you can put a system in place,
you need the road map to ensure you know
where you are going and identify your ideal
client and determine how your business can
uniquely help that ideal client
 Build your marketing campaign funnel
Before you begin any marketing activity,
you need to plan out the entire marketing
campaign from start to finish, identifying all the
steps that are needed to attract and convert
people into qualified clients, hence, there is a
need to identify your lead magnet or best
channel to reach your ideal client and build out
your optimized landing page
 Create your editorial calendar
In addition to your lead magnet, an editorial
calendar consolidates content ideas for each
content piece in one place with a target date
for completion like quality web posts,
entertaining videos and educational webinars
can help your warm target clients decide to
become a customer or client of your business
rather than your competitors
 Map out action plan with dates
Marketing action plan turns all the
pieces into a marketing system by adding
delivery dates and scheduling your time to
complete your tasks helps you create a
realistic plan which then turns actions into
habits and avoid
over-committing your time and energy
 Review, adjust and repeat
Measure the progress of the marketing
plan—
o Are your marketing efforts working?
o Do you need to modify a campaign,
create a different lead magnet or
design a new facebook ad?
By knowing what is working and what
could go better,
you can adjust your efforts and be more
effective with your marketing
Types of Marketing…
Excerpt from American Marketing Association- Association of
National Advertisers

 Influencer Marketing
This focuses on leveraging
individuals who have influence over potential
buyers and orienting marketing activities
around these individuals to drive a brand
message to the larger market
 Relationship Marketing
This refers to strategies and tactics for
segmenting consumers to build loyalty

 Viral Marketing
Viral marketing is a marketing phenomenon
that facilitates and encourages people
to pass along a marketing message
 Green Marketing
This refers to the development and
marketing of products that are presumed
to be environmentally safe, designed to
minimize negative effects on the physical
environment or to improve its quality
 Outbound Marketing
In outbound marketing, the marketer initiates
contact with the customer through methods
such as
TV, radio and digital display advertising
often used to influence consumer
awareness and preference for a brand
 Inbound Marketing
Inbound marketing is marketing in which
customers initiate contact with the marketer
in response to various methods used
to gain their attention such as thru email
marketing, event marketing, content
marketing and web design
 Content Marketing
Content marketing is 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
 After-Sales Services
Resolving issues of the customer’s and
problems in case of any product failure
will help in developing better relations with
customers
Customer Service Strategy…
warranty-offering warranty gives customers
assurance that customer service will be done
even after the sale
-there should be no conditions to the warranty,
otherwise as if there is no warranty at all
 Collects The Feedback
It involves collecting the suggestions of
customers once the product is sold because
through this, satisfaction or dissatisfaction level
of customers can be easily identified which
helps in improving the service quality using
suggestions provided by them
Understanding the Market Place
Principles of Marketing…
by Bernard Booms and Mary Bitner, American Marketing Professors

 Product-
The tangible item or service that you are
selling
Does it address the needs, wants, and
expectations of your customers?
 Price-
The price is the money the customer has
to pay for the product or services
they receive
 Place
This is the physical address of business
where your service professionals interact
with your customers
What are the optimal distribution channels, or
places and ways that your offering is
sold and delivered?
 Promotion
This includes tactics like sales, advertising,
events, and other ways to get your offerings
in front of your target market
like:
business developers
search engine optimization
social media marketing
paid advertising
public relations
billboard ads
Ways marketers use to reach out to their
prospective customers…

 Email marketing- refers to reaching out to

your target audience thru email
 Advertisement- this is a paid promotional
tool to promote products or services
like social media ads, tv, magazine adz
 Search Marketing- this is generating
leads from search engines like Google
 Sales promotions- this is temporary
incentives, such as deals or trail offered
for a short period of time to encourage
prospective customers to try out the
product and services before buying
 Direct marketing- this is when you
directly reach out to your target
audience and build relationships
through two-way communication
 Public Relations- presenting a favorable
image of your products and services
 Event Marketing- this refers to reaching
your potential customers through trade
shows, webinars, virtual events, or
conferences
 People
People refers to “human interfaces” and
these are the employees, consultants, and
freelancers who deliver the service
to customers
 Packaging
Packaging refers to the way your product or
services are represented to the people
because this is the best way for your product
to get noticed and stand out so that people
choose your product instead of your rivals
Criteria for choosing packaging
materials…
1- Protection-- Can the package give
ample
protection to the product?
Ex: TV set with protective corrugated boxes and
styrofoam
Magnolia chicken in fresh chilled packs so
“hindi madadapuan ng langaw” in the wet market

2. Display value-- Can it

attract customers?
Ex: a 4-color print vs black & white
3. Cost-- Will it be cost-effective?
Ex: can the weight of a plastic container be reduced
without sacrificing the quality to reduce cost?

4. Convenience- Is it easy to carry?

Ex: plastic crates can be more convenient
than wooden crates for softdrinks

5. Size-- weight limit, minimum order

quantity
Ex: increasing box content from 48 to 96 or reducing
the net content of smaller-size packs
 Physical Evidence
The physical evidence is a combination of
the environment and branding where the
service is provided to a customer by a
service representative
like:
social media account, service brochures,
business cards
How well do these items play into your overall
brand image and promotions?
 Process
The processes are the
steps which are required to deliver the
product or service to a customer
How smooth is the business process
from start to finish, from when they first
discover your brand to when they receive
their product or service?
How can you make it smoother?
Essential Functions of Marketing…
by Smriti Chand

1- Financing:
Finance is the life blood of a business enterprise
such that a considerable of money is needed
both for production and marketing of goods
and services
There are three main sources of finance:
 Long Term Finance --
It is needed for purchasing fixed assets
like land, building, plant and machinery
and other fixed assets where the main
sources are:
 Shares - represent the equity ownership
of a corporation divided up into units,
so that multiple people can own a
percentage of a business
 Debentures - written instruments of debt
or loan certificate that companies issue
under their common seal as a contract
of repayment of money borrowed
 Financial institutions – a company
engaged in the business of dealing with
financial and monetary transactions
such as deposits, loans, investments,
and currency exchange such as
commercial banks, investment banks,
insurance companies, brokerage firms
 Self financing - using one’s own money to
provide funding for the company

 Ploughing back of profits - the process of

retaining a part of the company’s net
profits for the purpose of reinvesting in
the business
 Medium Term Finance:
It is mainly required for raising working capital
and repayment of assets, the term ranges
between one year and ten years where
the main sources are:
Debentures
Financial institutions
Commercial banks and others
 Short Term Finance:
It is mainly required for meeting short term
working capital needs and its term is for less
than 12 months and can be raised from---
 commercial banks
 trade creditors - a supplier who has
sent
your business goods, or supplied it
with services, who you have not yet
paid
Necessity of finance also increases on account
of ‘trade credit’ and ‘consumer credit’ which
is given to wholesalers and retailers
to purchase goods on credit
These credits are given for increasing the
volume of sales and maintaining permanent
demand for the products
It takes time for the realization of
money on account
of the credits given which further enhances
the necessity of finance for meeting
innumerable business expenses
2- Risk Bearing --
It may be defined as the “danger of loss from
unforeseen circumstances in the future” after the
goods are produced until their disbursement to the
final consumer taking into consideration that the goods
are exposed to many risks like accidents, fire, theft,
storm, earthquake and floods etc.
The marketing risk may be classified under the
following heads ---
 Time Risk
Time plays a very important and
significant role in bringing about
changes in prices as
goods are purchased by wholesalers and retailers
in anticipation of selling them at higher prices in
future and the price may not increase in the
coming period rather may decrease
 Place Risk
Price of the goods differ from one place to
another as the tendency of the
businessman is to purchase the goods
from the place where their prices are low
and to sell them where prices are higher
as it is termed place risk
  Demand Risk
Goods are produced in anticipation of demand
of the product in future as wholesalers
and retailers store large quantity of goods
by keeping in mind future demand
but the demand of the product may not come
to the expectations resulting in losses
instead of profits
 Competition Risk:
In large scale production and cut­-throat
competition, goods are exposed to
competition risk for the reason that the
competitors may produce better and
cheaper products on account
of latest innovations
and improved methods of production
thereby considerably reducing the
cost of production;
for this, not only manufacturers but
middlemen also face risks on account
of competition
 Risks On Account of Natural Calamities
These risks are referred to as
‘Vis Major’ or ‘Acts of God’
These occur on account of natural
causes which are beyond human control
that include pests, rain, wind and
hailstorm and lightening, fire, floods,
drought, earthquakes etc
as these risks
create immense damage
  Human Risk
Such risks arise due to adverse behavior
of human beings like war, theft, dishonesty,
strikes, riots, lockout, pilferage, bad debts etc
where employees present dishonest
behavior on account of
misappropriation and frauds

Loss due to bad debts arises on account of

dishonesty and insolvency of customers
3- Market Information
This covers “all the facts, estimates, opinions,
and other information used in marketing of goods”
to be analyzed, interpreted and used for making
marketing decisions
4- Standardization
Goods are identical in terms of quality and description
and conform to the predetermined levels which
includes the establishment of standard, the storing
and grading of products to conform to these
standards, repacking, breaking up large quantities into
smaller units of desirable size, and product inspection
Classification of Products in Marketing…
by Chuck Dye, American Business Consultant
Relationship Builder and Veteran

 Goods for Convenience

Those products that customers buy often and without much
thought or planning like soap, condiments, and toothpaste are
common examples of convenience goods where consumers
make a choice once on their brand preference for these
products and repeat that choice over many purchases
 Shopping Goods
These are the products that require
considerable time and effort which are---
 durable in nature
 have high unit price as well as profit margin
 before making final purchase, consumer
compares the products of different
companies
 purchases of these products are pre-planned
 Speciality Products are those products
which have certain special features due to
which the buyers are willing to spend a lot of
time and effort on the purchase of such
products---
 demand for such products is relatively occasional
 these products are very costly
 these are available for sale only at few places
 an aggressive promotion is essential for
the sale of such products
 many of the specialty product require
after sales service too
 Goods Often Unsought
The products classified as unsought goods are those
that your consumers do not put much thought into
and generally do not have compelling impulse to buy.
Examples include batteries or life insurance. Your
consumers essentially buy unsought goods when
they have to, almost as an inconvenience — rather
than the newest, latest, greatest product they can not
wait to purchase.
Marketing your unsought goods will likely be most
effective with lots of advertising and salespeople
promoting the idea of unresolved need for your
unsought products.
Marketing Campaign…
A marketing campaign is a planned marketing
effort purposely to capture the attention of
customers in a variety of ways, including
television, print advertising, social media, and
email marketing
Types of marketing campaigns…
1. Traditional media campaign
This campaign uses conventional media
channels to raise brand recognition and/or
market a product or service like TV, print
advertising, radio, and direct mail, or
newspaper ads

2. Seasonal push campaign

A seasonal push campaign promotes seasonal
promotions, products, or services
3. Product launch campaign
When a new product is introduced, marketing
efforts frequently used to raise awareness of
the product such that the manufacturer
executes a product launch campaign in
collaboration with any distribution partners

4. Rebranding campaign
This is done when a firm promote a change
such as a new company name, logo, or merger
with another organization, desire to re-
establish their business
5. Brand launch campaign
This is used when a firm creates a new brand
and wants to raise awareness of it
Designing A Customer-Value
Driven Strategy
by Georgina Guthrie in Project Management
The 5 C’s of Marketing
by Molly Ploe

 Company
Who are you?
What characterizes and defines your
marketing?
This entails your products, channels, personas, voice
and brand
 Customer
 Who are you selling to?
You should know your target audience
through and through:
their needs, pains, wishes, wants and
motivations and likewise identify the market
segments to be able to develop strategies for
interacting with them
 Competitor
 Who is standing in your way?
Knowing who you are up against is the real
secret to implementing a solid marketing plan
and strategy, and so, you need to know
exactly what your competitors are doing to
remain one step ahead
 Collaborator
 Who are you working with?
Your business likely has its own external vendors
and suppliers, as well as other strategic
partnerships, thus your marketing efforts should
reflect a shared vision and values
 Climate
 What are the current business conditions?
Consider conducting a SWOT or PEST
analysis to get a read on the business climate
•SWOT: Strengths, weaknesses, opportunities
and threats
•PEST: Political, economic, social and
technological
Market Opportunity Identification…
by Andres Chehtman, Researcher and Consultant
at Euromonitor International at Latin America

This analyzes the market, assessing consumer

needs and how they are being met by
companies by means of identifying consumers
and companies and other factors such as
brand value propositions, direct and indirect
competitors, supply chains, existing regulations
and the general environment which maybe
obtained thru surveillance or research
Types to Identify Market Opportunities…

1. Consumer segmentation
To understand the demand, identify consumer
segments that share common characteristics
which can be "hard" variables such as age,
gender, place of residence, educational level,
occupation and level of income or "soft"
variables such as lifestyle, attitude, values ​and
purchasing motivations
2. Purchase situation analysis
Questions to ask when reviewing purchase
analysis are:
• When do people buy our product or
service?
• Is it when they need it?
• Where do people make the purchase?
• How do they pay?
3. Direct competition analysis
Relevant questions in this case are:
• What are the products and brands of the
industry that are growing more
significantly and why?
• What is their value proposition?
• What competitive advantage do we have
over them?
4. Indirect competition analysis
Opportunities can also be found by analyzing
substitute industries; two products or service
providers could be used for the same purpose by
the same consumers

5. Analysis of complementary products and

services
Companies should monitor the performance of
other companies’ products, which are
complementary to their own
6. Analysis of other industries
This is a method that helps a company understand its
position relative to other participants in the industry
such as the demand-supply statics, degree of
competition within the industry, state of competition
with other emerging industries, future prospects of
the industry taking into account technological
changes, credit system within the industry, and the
influence of external factors on the industry
7. Foreign markets analysis
When a company operates in a mature or
saturated market, exploring other countries
may lead to additional opportunities where
markets in different countries grow at different
paces considering that having information on
the size of the market and competitors in other
countries will help to estimate the business
potential
8. Environment analysis
Market opportunities can also be identified by
analyzing changes in the environment with
technological and scientific developments
generating new business opportunities
Marketing Strategies…
by Adam Barone, Proprietor

A marketing strategy is a business overall

game plan for reaching prospective
consumers and turning them into customers
of their products or services
 Market Segmentation—
• geographic- country/city, urban/rural etc.
• demographic- age, religion, gender, income,
socio-economic type, education, family status
• psychographic- lifestyle, interests, hobbies,
opinions, influencers
• behavioral- buyer journey stage, brand loyalty
traits, price sensitivity, purchasing style, usage
rate
• media- social media like TV, newspapers, search
engine preferences, facebook
• benefit- customer service, quality, and other
specific expectations
 Positioning
The process indicates how you differentiate
your product or service from that of your
competitors and then determine which market
place to fill which is affected by plenty of
variables related to customers’ requirements
and motivations, as well as by its competitors’
actions
Product Development
Product Development…
is the processes required to bring a product
from being a concept through to reaching the
market that would start from product idea
generation and market research and
development, manufacturing and distribution
Stages of Progress in Product
Development…

 Identifying a market need

Identifying a problem that needs solving
is where this journey begins thru
conversations with potential customers,
surveys, and other user research
activities can inform this step
 Quantifying the opportunity
The pain it causes and the number of
people or organizations it impacts
can determine whether it’s a worthy
problem to solve and if people are
willing to pay for a solution

 Conceptualizing the product

This is putting in the effort and applies
the creativity to devising how a product
might serve its needs
 Validating the solution
Before too much time is spent prototyping
and design the proposed solution should
be tested
 Building the product roadmap
With a legitimate product concept in
hand, product management can build
out the product roadmap, identifying
which themes and goals are central to
develop first to solve the most significant
pain points and spark adoption
 Developing a minimum viable product
(MVP)
This initial version of the product needs
just enough functionality to be used
by customers
 Releasing the MVP to users
Experiments can gauge interest, prioritize
marketing channels and messages, and
begin testing the waters around price
sensitivity and packaging
 Ongoing iteration based on user feedback
and strategic goals
With a product in the market,
enhancements, expansions, and changes
will be driven by user feedback
via various channels
Advertising, Sales Promotion and
Public Relation
Advertising…
The Definition

Advertising is the attempt to influence the

buying behavior of customers or clients with a
persuasive selling message about products
and/or services. In business, the goal of
advertising is to attract new customers by
defining the target market and reaching out to
them with an effective ad campaign
According to Kotler –

Advertising is any paid form of non-personal

presentation and promotion of ideas, goods,
or services by an identified sponsor
Characteristics of Advertising…
 Paid Form-
Advertising requires the advertiser to pay to
create an advertising message, buy
advertising media slot, and monitor
advertising efforts
 Tool For Promotion-
Advertising is an element of the promotion
mix of an organization
 One Way Communication-
Advertising is a one-way communication
where brands communicate to the
customers through different mediums

 Personal Or Non-Personal-
Advertising can be non-personal as in
the case of TV, radio, or newspaper
advertisements, or highly personal as in the
case of social media and
other cookie-based advertisements
Objectives of Advertising…
 To Inform
Advertisements are used to increase brand
awareness and brand exposure in the
target market informing potential customers
about the brand and its products

 To Persuade
Convince customers to buy or try the products
and services offered, to form a brand image,
develop a favorable attitude towards the brand
etc.
 To Remind
To reinforce the brand message and to
reassure the existing and potential customers
about the brand vision that would help the
brand to maintain top of mind awareness and
to avoid competitors stealing the customers
Other objectives
o brand building
o increasing sales
o creating demand
o engagement
o expanding customer base
o changing ustomers’ attitudes, etc.
Importance of Advertising…
by Aashish Pahwa

 To The Customers
 Convenience- targeted informative
advertisements make the customer’s decision
making process easier as they get to know
what suits their requirements and budget
 Awareness- advertising educates the customers
about different products available in the
market and their features which helps
customers compare different products and
choose the best product for them
  Better Quality- only brands advertise themselves
and their products as there are no
advertisements for unbranded products to
ensures better quality to the customers as no
brand wants to waste money on false
advertising

 To The Business
 Awareness- increases the brand and product
awareness among the people belonging to the
target market
 Brand Image- helps the business to form the
desired brand image and brand personality in
the minds of the customers
 Product Differentiation- helps the
business to differentiate its product from
those of competitors’ and communicate
its features and advantages to the
target audience
 Increases Goodwill- reiterates brand
vision and increases the goodwill of the
brand among its customers
 Value For Money- delivers the message
to a wide audience and tends to be
value for money when compared to
other elements of the promotion mix
Advertising Principles…
 Remember AIDA---
 Attention - Be compelling enough to grab
the
prospect’s attention by using interesting
headlines and eye-catching design
 Interest - Frame content in a way that
makes
the reader want to keep reading by
avoiding jargon and meaningless
buzzwords
 Desire - Outline benefits of your product or
service that make people want to buy and
do not just use a laundry list of features–
tell them "what's in it for them“
 Action - Include a call to action and do not
leave any doubt about how you want them
to act now
 Visual Consistency
Repeatedly exposing your target to a
specific image or display for doing so will
embed this into their long-term memory

Campaign Duration
Displaying the same ad for a set period
of time will embed the message in
long-term memory
 Consistent Positioning
When first developing a product you
should put some time into how you will
position your product in relation to your
competition such that if you are stressing
quality over price and convenience,
then your advertisements should reflect this
 Repeated Taglines
Repeatedly using the same tagline and
imagery will help consumers to make a
connection with their current knowledge of
your brand
 Simplicity
A simple advertisement is much easier to
comprehend than a complex one and use
short tagline for it will be much easier to
read and remember than an overloaded ad
 Create An Effective Flow
All advertisements should lead the viewer
to a desired action or conclusion
where the viewer’s eyes should be moved
to the key point of the ad being the last thing
viewers will remember
Advertising Techniques…

 Create Characters
Establish a character that will
become synonymous with the
brand that you are promoting
and that the character must bring
about brand recall to have the character as
your brand mascot for a long time
 Word-of-Mouth Marketing
Today it is widely heralded as one of the
best advertising methods and examples
of the same are oft repeated as good
ways to improve sales
 Celeb Power
Signing on a celebrity to
promote your product is seen
as an easy way out due to
the huge pull that celebs
enjoy over their fans but be
sure that the idea must be in a novel manner
 Exaggeration
Exaggerating products and their uses is
another good advertising technique that can
capture the attention of the audience and
appeal to them
 Shocking the Viewer
Shocking viewers gets them
more interested in the product
because it causes a shift in their
comfort zone
Marketing Research
Business Plan…
by A.J. Beltis

A business plan is a documented strategy for a

business that highlights its goals and its plans
for achieving them
It outlines a company's go-to-market plan,
financial projections, market research, business
purpose, and mission statement that include in
a timeline
The purpose of a business plan is three-fold---
 it summarizes the organization’s strategy
in order to execute it long term
 Secures financing from investors-
Since its contents revolve around how
businesses succeed, break-even, and turn a
profit, a business plan is used as a tool for
sourcing capital showing potential investors or
lenders how their capital will be put to work
and how it will help the business thrive as these
investors need to know if and when they'll be
making their money back
  Helps forecast future business demands
It ensures an entrepreneur's ducks are in a
row before bringing their business idea to the
world and reassures the readers that
whoever wrote the plan is serious about the
idea, having put hours into thinking of the
business idea, fleshing out growth tactics,
and calculating financial projections
Feasibility Study…
by Jennifer Bridges

A feasibility study is an analysis that considers

all of a project's relevant factors including
economic, technical, legal, and scheduling
considerations to ascertain the likelihood of
completing the project successfully
Just as the name implies, you are asking,
“Is this feasible?”
Elements of a project feasibility study…
Economic feasibility- You will need to do an
assessment of the economic factors of your
project to determine its financial viability and
you can use a cost-benefit analysis to
compare its financial costs against its
projected benefits
Technical feasibility- Consists in determining
if your organization has the technical
resources and expertise to meet the project
requirements
  Legal Feasibility- the project must meet legal
requirements that includes laws and
regulations that apply to all activities and
deliverables in your project scope
 Operational Feasibility- refers to how well your
project matches your organization’s capacity
planning, resources, strategic goals and
business objectives
 Time Feasibility- estimate the time that will take
to execute the project and set deadlines how
the project timeline fits with current
operations, such as your demand planning,
production schedule, among many other
things
Steps To Do a Feasibility Study…
1. Conduct a Preliminary Analysis
Begin by outlining your project plan and
focus on an unserved need, a market
where the demand is greater than the
supply, and whether the product or
service has a distinct advantage as you
need to determine if the feasibility factors
are too high to clear
2. Prepare a Projected Income Statement
This step requires you to work backward
starting with what you expect the income from
the project to be and then what project funding
is needed to achieve that goal as this is the
foundation of an income statement
3. Conduct a Market Survey, or Perform Market
Research
This step is key to the success of your
feasibility study, so make the market analysis
as thorough as possible which is going to give
you the clearest picture of the revenues and
return on investment you can realistically
expect from the project as you consider the
geographic influence on the market,
demographics, analyzing competitors, the
value of the market and what your share will be
and if the market is open to expansion
4. Plan Business Organization and Operations
Set up the organization and operations
of the planned project to meet its technical,
operational, economic and legal feasibility
factors and should be thorough and include
start-up costs, fixed investments and
operating costs that address things such as
equipment, merchandising methods,
real estate, personnel, supply availability,
overhead, etc.
5. Prepare an Opening Day Balance Sheet
This includes an estimate of the assets and
liabilities, one that should be as accurate as
possible by creating a list that includes items,
sources, costs and available financing as well
as liabilities to consider such as leasing or
purchasing of land, buildings and equipment,
financing for assets and accounts receivables
6. Review and Analyze All Data
Review and analysis are especially
important to make sure that everything is
as it should be and nothing requires
changing or modification

7. Make a Go/No-Go Decision

You are now at the point to make a decision
about whether the project is feasible or not
Components of a Feasibility study…
 Executive summary:
Formulate a narrative describing details of
the project, product, service, or business
 Technological considerations:
Ask what will it take. Do you have it? If not,
can you get it? What will it cost?
 Existing marketplace:
Examine the local and broader markets
for the product, service, plan, or business
 Marketing strategy: Describe it in detail
 Required staffing (including an organizational
chart): What are the human capital needs
for this project?
 Schedule and timeline:
Include significant interim markers for
the project's completion date
 Project financials
 Findings and recommendations: Break down
into subsets of technology, marketing,
organization, and financials