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DESIGNING THE MARKETING PROCESS AND PLANNING

THE MARKETING PROCESS

The marketing process consists of analyzing marketing opportunities, researching and selecting target products and markets, designing marketing strategies, planning marketing programmers, and organizing, implementing, and controlling the marketing activities.


THE MARKETING PLANNING

It includes the marketing plan for 1 year or 1-5 years. A marketing strategy is transformed into a detailed marketing program that includes marketing budget and marketing mix or 4 Ps, product, price, promotion, and place or distribution decisions.


MARKETING MIX

PRODUCT INCLUDES:

Brand name
Packaging
Design
Quality
Features/Attributes
Size
Variety
Services
Warranty
Guaranty


PROMOTION INCLUDES:

1 Sales promotion
2 Sales force
3 Advertising
4 Public relations
5 Direct marketing


RICE INCLUDES:

List price/ Maximum retail price
(MRP) for ex, Rs100]
Trade Price (TP) [Dealer’s price eg Rs85]
Distribution Price (DP)
[Distributor’s price For ex.Rs75]
Discounts
Allowances
Payment period
Credit terms


PLACE/DISTRIBUTION INCLUDES:

Channels
Locations
Coverage
Transport
Inventory keeping
/warehouse facility

SALES PROMOTION includes discounts, allowances, bonuses, schemes, gift items, free samples etc to promote the product. A sales force is hired to promote sales. Advertising is about persuasive messages through print or electronic media to promote products sales or create awareness about goods, service and ideas. Public relations is about building productive relations with the stakeholders of a company that include shareholders, creditors, customers, employees, suppliers, distributors, government agencies, media, and the society. Direct marketing is selling products without a distribution channel, or middle men; the company advertises its products and offers customers the option to buy the product through a postal order or online system in which either the company representatives or the telemarketing sales force directly contact the customers.


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