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Enhancing Competitiveness of Microentreprises in Rural Areas

Unit 1: Marketing
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Unit 1 - Marketing

What is Marketing

Marketing is the management process through which goods and services move from concept to the customer. 
It includes the coordination of four elements called the 4 P's of marketing:
Identification, selection and development of a product
Determination of its price
Selection of a distribution channel to reach the customer's place
Development and implementation of promotional strategy.

More Information: 
http://www.businessdictionary.com/definition/marketing.html 
 

Purpose of Marketing

Three main purposes of marketing:   

 

Capture the attention of a target market.  

Facilitate the prospect's purchasing decision.  

Provide the customer with a specific, low-risk and easy-to-take action.   

 

More Information:

http://www.evancarmichael.com/library/ernst-marsig/The-Three-Purposes-Of-Marketing.html

Stages of Marketing (1 of 2)

Ideation stage, where the idea for the product is conceived.
Testing Stage, with focus groups and surveys to ascertain interest levels among potential buyers. Packaging and branding is included, while Limited Selling, is used to track Sales and then escalation at National (or International) level.
Pricing stage, tested through focus groups and surveys to understand the optimal selling price to achieve maximum return.

More Information: 
http://www.businessdictionary.com/definition/marketing.html 
 

Stages of Marketing (2 of 2)

Promotion stage, including brochures, ads, and information which companies use to generate leads and interest in products.

Distribution Stage,  showing where products are sold. All distribution decisions are part of the overall marketing process.  

 

More Information:

http://www.businessdictionary.com/definition/marketing.html

What is not Marketing
Marketing vs Advertisement (1)

Marketing is “a pie”, with many slices, including: advertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy, and community involvement.

Advertisement is:

•The paid, public, non-personal announcement of a persuasive message by an identified sponsor; the non-personal presentation or promotion by a firm of its products to its existing and potential customers.

•It’s a single component of the marketing process.

It is the largest expense of most marketing plans.

More Information:

https://www.thebalance.com

Marketing vs Advertisement (2)
Marketing vs Sales

Selling is the ultimate result of marketing


More Information:

http://www.diffen.com

Traditional and new Marketing tools

Traditional Marketing Tools

Print: Includes advertisements in newspapers, newsletters, magazines, brochures, and other printed material for distribution

Broadcast: Includes radio and television commercials, as well as specialized forms like on-screen movie theater advertising

Direct mail: Includes fliers, postcards, brochures, letters, catalogs, and other material that is printed and mailed directly to consumers

Telemarketing: Includes requested calling and cold calling of consumers over the phone

 

Modern and On-Line Marketing Tools

Websites: Used as a branding tool to enhance image and educate clients being a live communication tool with your customers

Social Networking Sites: Includes the use of Facebook and other Social Networking sites that are multiplying the target audience and enable target focused marketing

Content Marketing: Refers to the use of rich, strong and useful content to raise awareness and create value for the product.

Google and Banner Adds: Using Adwords campaigns and other features creates a new low cost communication channel

 

More Information:

http://www.marketing-schools.org

Basics of a Marketing Plan – ELEMENTS (1 of 3)

A good marketing plan sets clear, realistic and measurable objectives, includes deadlines, provides a budget and allocates responsibilities.

A plan can consist of these elements:

Analysis of your current market

Business objectives

Key strategies

Steps to achieving your objectives

Proposed budget

Timing

Basics of a Marketing Plan – CONTENT (2 of 3)
Basics of a Marketing Plan (3 of 3) - Regular Review

A Marketing Plan is an ongoing business activity.

As a business changes many of the strategies in the plan will need to evolve to ensure that the business is still heading in the right direction.

Having the marketing plan up to date can keep the entrepreneur focussed on where the business is heading and focus on product/service delivery and success.



Keywords

marketing, promotion

Objectives/goals

Provision of Basic Marketing Skills including various different promotion types and channels

Description

Unit 1 on Marketing