Session 1 Chapter No 1

Understanding the
Chapter Customer and Creating

Marketing Strategy
Chapter 13
Learning Goals
In this chapter students will be able to understand:
1. The market and different marketing concept
2. The different trends in understanding the customer
3. The different marketing strategies
4. The role of product, price, place, promotion in
marketing
5. The concept of advertising
6. Different tools used in advertising
7. The different medium of advertising
8. The concept of salesmanship
9. The steps in selling process
10. The qualities of good salesmanship
11. The concept of channel of distribution
12. The different channel members
13. The different channel options for distribution
Chapter 13
14. The technique to select a channel

Management Quality Circle
Superior University Lahore
Marketing
The process of discovering the

needs and wants of potential buyers
Marketing and customers and then providing
goods and services that meet
or exceed their expectations
Chapter 13

Marketing—The “Right” Principle
Getting
The “Right’ Goods or Services
to
The “Right’ People
at
The “Right’ Place, Time, and Price
using”
Chapter 13
The “Right’ Promotion Techniques

1 The Marketing Concept
Customer The ratio of benefits to the sacrifice
necessary to obtain those benefits,
Value as determined by the customer.
Customer The customer’s feeling that a

product has met or exceeded
Satisfaction expectations.
A strategy that focuses on forging

Relationship long-term partnerships with
Marketing customers by offering value and
providing customer satisfaction.
Chapter 13

2 Creating a Marketing Strategy
1. Understanding the External Environment
2. Defining the Target Market
3. Creating a Competitive Advantage
4. Developing a Marketing Mix

Chapter 13

2
The External Environment
Social Forces
Demographic Forces
Economic Forces
Technological Forces
Environmental Political & Legal Forces
Scanning
Competitive Forces
Chapter 13

2 The Target Market
The specific group of consumers
Target Market toward which a firm directs
its marketing efforts.
Chapter 13

Forms of Market Segmentation
Derived from
Age, education, individual’s
gender, income, position
Demographic
race, social class, household
in an size
organization
Regional location, population density,

Geographic
city/county size, climate
Lifestyle, personality, interests,

Psychographic
values, attitudes
Benefits provided by the

Benefit
good or service
Volume Amount of use (light versus heavy)

Chapter 13

2 Competitive Advantage
Cost A firm’s ability to produce a
Competitive product or service at
Advantage a lower cost than its competitors.
Differential A firm’s ability to provide a unique

product or service that offers
Competitive something of value besides a
Advantage lower price.
Niche A firm’s ability to target and

effectively serve a single segment of
Competitive the market within a limited
Advantage geographic area.
Chapter 13

3 The Marketing Mix
Product
Elements of the
Marketing Mix Price
“The Four Ps”

Promotion
Place
Chapter 13

Marketing Mix
• Product
• Place (Distribution)
• Promotion
• Price
Chapter 13
3 Elements of the Marketing Mix
Elements of the
Marketing Mix
Product
Chapter 13

What is a Product?
Any good or service,
along with its perceived
Product
attributes and benefits,
that creates value for
the customer.
“Product” --
The “Heart” of
the
Marketing Mix
Chapter 13

Product Strategy
• Brand name
• Packaging
• Colors
• Warranty
• Accessories
• Service program
Chapter 13

Benefits of Branding
Product Identification
Repeat Sales
New-Product Sales
Chapter 13

The Product Life Cycle
Introduction Growth Maturity Decline
Total
Sales and profits
market
sales
Total
market
+ profits
$0
_
Chapter 13
Management Quality Circle Time

Elements of the Marketing Mix
Elements of the
Marketing Mix
Price
Chapter 13

Product Pricing
Introducing a product
Price Skimming with a high initial price
and lowering the price
over time
Selling new products at

Penetration Pricing low prices in the hope
of achieving a large
sales volume
Chapter 13

Elements of the Marketing Mix
Elements of the
Marketing Mix
Place
Chapter 13

Distribution Strategy
• Agents and Brokers

• Industrial Distributors
• Wholesalers
• Retailers
Chapter 13

3 Elements of the Marketing Mix
Elements of the
Marketing Mix
Promotion
Chapter 13

Promotional Goals
1. Creating awareness
2. Getting consumers to try products
3. Providing information
4. Keeping loyal customers
5. Increasing the amount and frequency of use
6. Identifying target customers

Chapter 13

Elements of the Promotional Mix
Personal
Advertising Selling
Public Sales
Relations Promotion
Chapter 13


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Understanding the

Chapter Customer and Creating

14. The technique to select a channel

The process of discovering the

Management Quality Circle

The “Right’ Promotion Techniques

Customer The customer’s feeling that a

A strategy that focuses on forging

Management Quality Circle

2. Defining the Target Market

3. Creating a Competitive Advantage

4. Developing a Marketing Mix

Management Quality Circle

Management Quality Circle

Management Quality Circle

Regional location, population density,

Lifestyle, personality, interests,

Benefits provided by the

Volume Amount of use (light versus heavy)

Management Quality Circle

Differential A firm’s ability to provide a unique

Niche A firm’s ability to target and

Management Quality Circle

“The Four Ps”

Management Quality Circle

Management Quality Circle

Management Quality Circle

Management Quality Circle

Management Quality Circle

Management Quality Circle Time

Management Quality Circle

Selling new products at

Management Quality Circle

Management Quality Circle

• Agents and Brokers

Management Quality Circle

Management Quality Circle

2. Getting consumers to try products

4. Keeping loyal customers

5. Increasing the amount and frequency of use

6. Identifying target customers

Management Quality Circle

Management Quality Circle

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