A Brief Introduction to Marketing

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A Brief Introduction to Marketing

• http//www.youtube.com/watchplaynext1playnext_f
  romTLvideos25phPiucqpQvtao76O4F4XI

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Marketing

• American Marketing Association
• Activity, set of institutions, and processes for
  creating, communicating, delivering, and
  exchanging offerings that have value for
  customers, clients, partners, and society at
  large.

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MARKETING

• Marketing is meeting or creating a need for a
  product/service,
• which results in the product/service being
  purchased,
• and if done well purchased over and over.

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Goals and Tools

• Sales is the goal of marketing. Sales is where
  the exchange of product/service for money takes
  place.
• The tools to accomplish this goal changed
  dramatically with the advent of the Internet,
  e-Commerce, etc.

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Marketing Concept

• Marketing is more than promotion and advertising.
• It is strategically planning to anticipate and
  fulfill customer needs and wants.

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4 Ps of Marketing
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Branding v. Marketing

• Branding - Labeling a product/service with a
  distinctive word or logo
• that gives an impression of value and leads to
  the customer needing/wanting the product/service.
• WHICH IS A BETTER PRODUCT?

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Cola is Cola
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NO DIFFERENCE HERE
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CERTAINLY NO DIFFERENCE HERE
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Branding

• Branding associates a name and becomes part of
  the product/service
• Marketing encompasses branding

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Segmentation and Targeting
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THE BUZZ

• VIRAL MARKETING
• A New Concept?

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What is Viral Marketing?

• http//www.youtube.com/watch?vV0oNNt7d1gYfeature
  related
• Like the Flu

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Viral Marketing Defined

• Viral marketing describes any strategy that
  encourages individuals to pass on a marketing
  message to others, creating the potential for
  exponential growth in the message's exposure and
  influence. Like viruses, such strategies take
  advantage of rapid multiplication to explode the
  message to thousands, to millions.

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• Off the Internet, viral marketing has been
  referred to as "word-of-mouth," "creating a
  buzz," "leveraging the media," "network
  marketing.
• http//www.wilsonweb.com/wmt5/viral-principles.htm
  

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Viruses

• Piggyback on others and use their resources to
  increase their reach.
• Grow exponentially by replicating, again and
  again with geometrically increasing power,
  doubling with each iteration
• 111111111111111111111111111111111111111111111
  1111111111111111111111111111111111111111111111111
  11111111111111111111111
• In a few short generations, a virus population
  can explode into an epidemic all over the world.

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Viral Communities
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Solidarity

• Sharing Experiences with a product and brands
  with social values
• Organic Foods network

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Taste-maker

• Networking by self-promotion in the name of being
  the first or the coolest
• Oprah Winfrey
• These people are a sales force.

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Appreciator

• Networking by emulation or imitation of others or
  the brand personality
• Martha Stewart

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Maven

• Networking by educating and broadening horizons
• Not a professional, but an enthusiast wanting to
  educate others
• Review products and have extensive knowledge of a
  certain product category
• Amazon

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Is a Marketing Budget Important?

• What does it include?
• People Marketers/Strategist
• Time How much will it take