BLANCA, JONALD R.

BSBA 3-2 MM

MARKETING MANAGEMENT

WHAT IS THE PURPOSE OF MARKETING?

Marketing includes creating the product or service concept, identifying who is likely to purchase it,
promoting it, and moving it through the appropriate selling channels. There are three primary purposes of
marketing: Capturing the attention of your target market. Persuading a consumer to purchase your
product.

WHAT IS MARKETING?

Marketing is profitably using the results of studying short term and long term needs of those who can pay
for a one-time, or in most cases, a steady flow of service or product placement. In 2017 The New York
Times described it as "the art of telling stories so enthralling that people lose track of their wallets.
It is one of the primary components of business management and commerce. Marketers can direct their
product to other businesses (B2B marketing) or directly to consumers (B2C marketing).Regardless of
who is being marketed to, several factors apply, including the perspective the marketers will use. Known
as market orientations, they determine how marketers will approach the planning stage of marketing.
The marketing mix, which outlines the specifics of the product and how it will be sold, is affected by the
environment surrounding the product, the results of marketing research and market research,[8][9] and the
characteristics of the product's target market.[10] Once these factors are determined, marketers must then
decide what methods will be used to promote the product, including use of coupons and other price
inducements.

WHAT IS ADVERTISING?

Advertising is a marketing communication that employs an openly sponsored, non-personal message to

promote or sell a product, service or idea. Sponsors of advertising are typically businesses wishing to
promote their products or services. Advertising is differentiated from public relations in that an advertiser
pays for and has control over the message. It differs from personal selling in that the message is non-
personal, i.e., not directed to a particular individual. Advertising is communicated through various mass
media, including traditional media such as newspapers, magazines, television, radio, outdoor advertising
or direct mail; and new media such as search results, blogs, social media, websites or text messages. The
actual presentation of the message in a medium is referred to as an advertisement, or "ad" or advert for
short.
TYPEA OF ADVERTISING

Types of advertising

A successful advertising campaign will spread the word about your products and services, attract
customers and generate sales. Whether you are trying to encourage new customers to buy an existing
product or launching a new service, there are many options to choose from.

The most suitable advertising option for your business will depend on your target audience and what is
the most cost effective way to reach as many of them as possible, as many times as possible. The
advertising option chosen should also reflect the right environment for your product or service. For
example, if you know that your target market reads a particular magazine, you should advertise in that
publication.

The following list is an introduction to advertising tactics that you could use. Remember, you can always
be creative in your advertising to get noticed (within advertising regulations).

Newspaper

Newspaper advertising can promote your business to a wide range of customers. Display advertisements
are placed throughout the paper, while classified listings are under subject headings in a specific section.

You may find that a combination of advertising in your state/metropolitan newspaper and your local
paper gives you the best results.

Magazine

Advertising in a specialist magazine can reach your target market quickly and easily. Readers (your
potential customers) tend to read magazines at their leisure and keep them for longer, giving your
advertisement multiple chances to attract attention. Magazines generally serve consumers (by interest
group e.g. women) and trade (industry/business type e.g. hospitality).

If your products need to be displayed in colour then glossy advertisements in a magazine can be ideal —
although they are generally more expensive than newspaper advertisements.

Magazines do not usually serve a small area such as a specific town. If your target market is only a small
percentage of the circulation, then advertising may not be cost-effective.

Radio

Advertising on the radio is a great way to reach your target audience. If your target market listens to a
particular station, then regular advertising can attract new customers.

However, sound has its limitations. Listeners can find it difficult to remember what they have heard and
sometimes the impact of radio advertising is lost. The best way to overcome this is to repeat your message
regularly — which increases your costs significantly. If you cannot afford to play your advertisement
regularly, you may find that radio advertising does not generate strong results.
Television

Television has an extensive reach and advertising this way is ideal if you cater to a large market in a large
area. Television advertisements have the advantage of sight, sound, movement and colour to persuade a
customer to buy from you. They are particularly useful if you need to demonstrate how your product or
service works.

Producing a television advertisement and then buying an advertising slot is generally expensive.
Advertising is sold in units (e.g. 20, 30, 60 seconds) and costs vary according to:

 the time slot

 the television program
 whether it is metro or regional
 if you want to buy spots on multiple networks.

Directories

Directories list businesses by name or category (e.g. Yellow Pages phone directories). Customers who
refer to directories have often already made up their mind to buy - they just need to decide who to buy
from.

The major advantage of online directories over print directories is that if you change your business name,
address or phone number, you can easily keep it up to date in the directory. You can also add new
services or information about your business.

If your target market uses print and online directories, it may be useful to advertise in both, although print
directories are being used less.

Outdoor and transit

There are many ways to advertise outside and on-the-go. Outdoor billboards can be signs by the road or
hoardings at sport stadiums. Transit advertising can be posters on buses, taxis and bicycles. Large
billboards can get your message across with a big impact. If the same customers pass your billboard every
day as they travel to work, you are likely to be the first business they think of when they want to buy a
product.

Even the largest of billboards usually contain a limited amount of information; otherwise, they can be
difficult to read. Including your website address makes it easy for customers to follow up and find out
more about your business. Outdoor advertising can be very expensive especially for prime locations and
supersite billboards.

Direct mail, catalogues and leaflets

Direct mail means writing to customers directly. The more precise your mailing list or distribution area,
the more of your target market you will reach. A direct mail approach is more personal, as you can select
your audience and plan the timing to suit your business. A cost effective form of direct mail is to send
your newsletters or flyers electronically to an email database. Find out more about direct mail.
Catalogues, brochures and leaflets can also be distributed to your target area. Including a brochure with
your direct mail is a great way to give an interested customer more information about your products and
services. Learn more about leaflet marketing using letterbox drops and handouts.

Online

Being on the internet can be a cost-effective way to attract new customers. You can reach a global
audience at a low cost. Many customers research businesses online before deciding whom to buy from.

A well-designed website can entice customers to buy from you. There are a number of ways you can
promote your business online via paid advertising or to improve your search engine rankings. Learn more
about doing business online.

Other ways to advertise your business online include promoting your products or services on social media
sites, blogs and search engines and other websites that your target audience visits. Find out more
about social media.

The 4P’s of marketing or so called Marketing Mix.

The marketing mix is a good place to start when you are thinking through your plans for a
product or service and it helps you to avoid mistake One element wrong it can be disaster for
your whole campaign.
this is where 4P’s of marketing is use for. They stand for PRODUCT, PLACE,PRICE and
PROMOTION.

PRODUCT Here in product you will defined what does the customers want from the product,
what need does it satisfy, and how or where will the customer use it.

PLACE This discuss where is the right place for you to stand your store (where do buyers look for
your product or service)

PRICE This is how much customers are willing to pay for a product of service or will the customer
can afford the price given by the store.
PROMOTION This is where you make a good advertising to catch customers attention and it can
helps you to spread your goods and services through other marketing channel.
This tool helps to define what you want to say to your customers and how you want to say it