OVERVIEW OF MARKETING

OVERVIEW OF MARKETING

by:

Dzulkarnain Musa

Department of Commerce

Polytechnic Tuanku Syed Sirajuddin

1. Understand Marketing

a) Philosophy
All marketing activities must satisfy customer needs and wants and at the same time achieve the targeted profits.

b) Focus
A long term view - customer satisfaction first and then profit. A satisfied customer will most likely come back for more and continue to contribute to the business sales and profit.

c) Objectives
Try to fulfill customer needs and wants by offering product/service that are easily available to the targeted customer at the right place and time and at an attractive price.


d) Definition of Marketing

Marketing is defined as the activities that are carried out systematically to encourage and increase sales of products or services as long as the activities are in line with religious and athical practices.
o Systematic – total marketing activity needs to be planned and implemented in a systematic manner.
o Encourage & increase sales – a systematic marketing effort is essential to ensure that customers are attracted and motivated to purchase the product/service offered.
o Religious & ethical considerations – a good business practices must be based on an awareness of religious boundaries as well as ethical practices.

Its definition is also as a process of creating and attracting customers to the company.


2. The Concept of Marketing Mix

a) Marketing strategy
o A stage to determine whether the business is able to enter the market or compete with other competitors in the market and in the same business sectors.
o This strategy should be part of an ongoing self-evaluation process.
o It must be unique to the company and involve with the marketing mix strategy.

b) Marketing mix strategy
o Marketing mix strategy is a strategy of marketing which also known as the 4Ps of marketing.
o Its strategy consists of four variables which include of product, price, place and promotion.


 Product or service strategy
-Brand, Protection, Attractiveness, Design, Quality, Ease of use, Packaging, Product differentiation, Labeling, Safety, and After sales services.

 Pricing strategy
-Cost-based Pricing, Competition-based Pricing, Value-based Pricing and Factors affecting price.

 Place / Distribution strategy
-Distribution of goods through related channel.
-Sales direct to customers, through retailers, wholesaler or agents.

 Promotion strategy
-Advertising
• Printed media
• Electronic media

-Publicity
• Flyers & pamphlets
• Business cards

-Sales promotion
• Discount sales
• Year end sales (YES)

-Personal selling
• Personal approach


3. Marketing Environment

The marketing environment is a marketing term and refers to all of the forces outside of marketing. Its affect marketing management’s ability to build and maintain successful relationships with target customers. The marketing environment consists of both the macroenvironment and the microenvironment.

a) Microenvironment
o The microenvironment refers to the forces that are close to the company and affect its ability to serve its customers.
o This environment influences the organization directly.
o Micro tends to suggest small, but this can be misleading. In this context, micro describes the relationship between firms and the driving forces that control this relationship.
o It include:
 Company
 Suppliers
 Marketing Intermediaries
 Customers
 Competitors
 Publics

b) Macroenvironment
o The macroenvironment refers to all forces that are part of the larger society and affect the microenvironment.
o This includes all factors that can influence an organization, but that are out of their direct control.
o A company does not generally influence any laws (although it is accepted that they could lobby or be part of a trade organization).
o It is continuously changing, and the company needs to be flexible to adapt.
o It includes concepts such as:
 Demographic
 Economic
 Natural forces
 Technology
 Politics
 Culture