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What Is Marketing In 3 Minutes | Marketing For Beginners

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Do some research on the web, use

https://chatgpt.com/

https://www.perplexity.ai/

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Using the extended marketing mix conduct an audit on a company of your choice 

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Using the extended marketing mix conduct an audit on a company of your choice 

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Extended 3Ps

•People

•Process

•Physical Evidence

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Using the marketing mix conduct an audit on a company of your choice (4Ps)

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Using the marketing mix conduct an audit on a company of your choice (4Ps)

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4Ps:

•Product

•Price

•Place

•Promotion

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Your name

Company / Industry

Your role

Name your favorite marketing tool

An interesting fact about you

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Research the pricing strategies, define what it is and supply an example of a business that uses this and for what product/service

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Research the pricing strategies, define what it is and supply an example of a business that uses this and for what product/service

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•Cost-based pricing

•Competitor-based pricing

•Customer-based pricing

•Psychological pricing

https://chatgpt.com/

https://www.perplexity.ai/

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Pick a company of your choice and find out their vision, mission, goals and values

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Pick a company of your choice and find out their vision, mission, goals and values

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If a company did not have a clear vision, mission, goals and values how would that effect the performance of a company?

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Think of -

Example of a product you have low expectations for

Example of a product you have high expectations for

Example of a service you have low expectations for

Example of a service you have high expectations for

Think about the causes of why it is either high or low

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Think of possible actions a customer may take if they are not satisfied with your product/service

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Think of possible actions a customer may take if they are not satisfied with your product/service

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Think of your business, what do your customers expect of your products/service? What is the desired service and the adequate service?

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Think of your business, what do your customers expect of your products/service? What is the desired service and the adequate service?

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Think of factors that influence your expectations of a product or service

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Think of factors that influence your expectations of a product or service

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At the end of the training you will be able to:

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At the end of the training you will be able to:

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•Understand the marketing concept

•Understand the importance of marketing

•Define business mission, vision, goals and values

•Outline the elements of the marketing mix (7Ps) and promotional mix

•Understand the benefits of a coordinated marketing mix

•Apply the marketing mix to B2C contexts

•Apply the marketing mix to other contexts

•Outline the 7 principles of GDPR

•Understand the role of ASA

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3 Strategies to Increase Customer Satisfaction | Brian Tracy

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Mission, Vision, & Values: Explained | Business + Corporate Strategy Course

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A Content Guideline to The 5 Stages of The Buyer's Journey

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Advertising Standards Authority: Every UK ad a responsible ad

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Emilie Gilbert

LILY&ROO / Marketing & PR

Multi-Channel Marketing Apprentice

Canva

I'm running a half marathon in November

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Nature's Fix, E-Commerce Supplement Company

Marketing Assistant (apprentice)

Klaviyo or Photoshop/Canva.

I can build computers and have also taken apart and rebuilt laptops

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Natures fix

Marketing assistant

canva/social media

i ride horses

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Emilie

-Welcoming service

-well packaged

-easy directions for use

-informative service

-visually appealing product

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How long will I be using the product/Service.

Instructions

Is it easy to understand how it will help me

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welcoming/friendliness

aesthetically pleasing

clear information if need instructons

good reviews/happy customers

eco friendly

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Expect: products to help or solve their health problem; bad gut health, struggle sleeping etc. Fast delivery of product once ordered. Information regarding what is in the product, on the products packaging.

adequate: slightly help with their problem to an extent. Delivery within a week. Information about what is in the product, on the product packaging.

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Adequate Service-

Easy-to-navigate website

On-time delivery

Good quality products

Good customer service

Desired-

Easy-to-navigate website

Fast delivery

High-quality products

Fast replies from customer service

Personalised emails

High quality packaging/gift wrapped

Loyalty programme rewards/discounts

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adequate:

product delivers on time

website works clearly

friendly customer service

Desired:

aesthetically pleasing

really quick reliable service

better deals for my loyalty as a customer

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Bad review on website/Google page

Tell friends and family about the bad experience

Stop buying from you/go to competitors

Contact customer service or the directors

Leave comments on social media platforms

Return products

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complain/write a bad review

become a troll on socials

negatively market your business

refuse to purchase again

cause or creative inconveniences to the business

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Write a google review.

Call customer service and see if they can do anything to resolve situation: discount on a future order, refund, partial refund etc.

Move to a competitor

Nothing, and just distance themselves from the company.

Comment on social media

Bad mouth the company to friends and family

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Product low expectation: food from a kebab shop

Product high expectation:food from the ritz

Service high expectation: getting my car seviced/mot done

Service low expectation:people car wash

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Low Expectations product- Shein clothing: it has a reputation for bad quality and has cheap prices

High Expectation product- Van Cleef: Reputation of a high-end luxury product with a high price point, good quality product, e.g solid gold

Low Expectations service- McDonald's, fast food service and cheap

High Expectations service- spa, paying high prices to be relaxing, and it is a luxury

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Low: Mcdonalds - cheap fast food

High: Apple iPhone - Very expensive and established company

Low: Hand car wash - doesn't cost much

High: Amazon - very large and trusted company

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Mission

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Goals

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Values

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Cost-based pricing is when a business sets a price by adding a set amount or percentage to the cost of making a product or service.

Example:

Business: Ford
Product: F-150 Truck
How it works: Ford adds a profit amount on top of what it costs to build the truck.

Competitor-Based Pricing is when a business sets its prices based on what competitors are charging for similar products or services.

Example:

Business: Coca-Cola
Product: Bottled soft drinks
How it works: Coca-Cola checks what Pepsi charges and sets its prices around the same level to stay competitive.

Customer-Based Pricing (also called value-based pricing) is when a business sets the price based on how much the customer believes the product or service is worth.

Example:

Business: Nike

Product: Air Jordan sneakers

How it works: Nike charges premium prices because customers see the shoes as stylish, high-quality, and linked to popular culture and sports, making them worth more in the eyes of buyers.

Psychological Pricing  is when a business sets prices to make them seem lower or more appealing to the customer

Example:

Business: Tesco

Product: Grocery items (like cereal or milk)

How it works: Tesco prices items at £1.99 instead of £2.00 to make them look cheaper and more appealing to shoppers.

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Cost based Pricing: setting the price of something by adding a profit margin ontop of what it costs to produce/buy the product.

If a bottle of Coca Cola cost 49p to produce and you want to make £1 of profit on each bottle sold, you would set the price to £1.49

Competitor based pricing: you base your products price on a competitors price for a similar product.

If you want to sell a pair of denim trousers, such as H&M, and your competitors have priced theirs at £34, you should base your price around that price. Lower if you want to attract their customers or slightly higher if yours are a higher quality.

Customer based pricing – you set the price of your product around what your customer thinks the product is worth.

Hugo Boss can price their shirts and tops more expensive because their brand is seem as higher value than primark.

Psychological pricing: using pricing tricks to make customers feel cheaper or more attractive than your competitors.

Selling a product at £15.99 instead of £16. Supermarkets do this to most of their products.

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cost based pricing:setting products price by adding a markup to its production cost e.g primark do low production costs with minimal markup for chep clothing

competitor based pricing:is setting a products price based on what competitors are charging e.g johnlewis price match

customer based pricing: setting a products price based on what customers are willing to pay,this may depend on the area,supply and demand or on the time of year and ofcourse how valuable to product seems in its quality aswell as inflation,you can see this through customer reviews aswell.

phycological based pricing:make them seem cheaper or more appealing eg. £9.99

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Product: AMD offers multiple different mid-range computer components between CPUs and GPUs, softwares and more.

Price: AMD prices their products in a way to undercut the high price of their main competitors, NVIDIA and Intel while offering more performance and "future proofing".

Place: AMD sells online and offline through many retailers off different sizes such as Currys and Amazon.

Promotion: AMDs promotional strategies focuses on the invitation they have made between "generations" of products without sacrificing the quality to ensure they accessible pricing.

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Brand Lemieux:

Product:offers a range of products for horse wear aswell as rider,with a designer appeal and quality materials/designs/colours

Price: is price in the equine industry is a designer price on the middle to more top hand side of the range,showing quality and its percieved value

Place; retail,brick and mortar stores,resellers

Promotion:advertising at horse shows and country/equine events

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lemiex

People: invests in riders on sportslevels of competing and sponsers them

Process:consistent in their supply and demand and there ordeing platmorms

physical evidense: in their brick and mortar stores,in equine events,in their logo on their designs making them destinctive

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People: AMD is built from industry leading engineers who pride themselves on working towards a better future within all industries.

Process: AMD focuses on delivering personalised and general customer experiences through the use of different channels and also large tech events to annouce and promote new products, while talking about changes to other aspects of the company.

Physical Evidence: AMDs physical evidence is that is can be found instore, online through many different channels, iconic product packing while keeping to key brand values.

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4-7

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Lawfulness, Fairness, and Transparency

Personal data must be processed in a lawful way, fairly, and in a manner that's transparent to individuals—meaning people should know how and why their data is being used.

Purpose Limitation

Data should only be collected for specific, clear, and legitimate reasons, and it shouldn't be used for anything else that isn't compatible with those purposes.

Data Minimisation

Only the data that is actually needed to achieve the stated purpose should be collected—no more, no less.

Accuracy

Steps must be taken to ensure that personal data is accurate and kept up to date. Inaccurate data should be corrected or deleted.

Storage Limitation

Data shouldn’t be kept longer than necessary. Once it's no longer needed, it should be securely deleted or anonymised.

Integrity and Confidentiality (Security)

Personal data must be kept secure using appropriate technical and organisational measures to protect against unauthorised access, loss, or damage.

Accountability

Organisations are responsible for complying with the GDPR and must be able to demonstrate how they comply, including having records and policies in place.

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lawlfulness fairness,transparency:

data must be processed fairly and openly and legally

purpose limitation: data must be collected for specific explicit purposes only

date minimalisatin:only data needed must be processed

accuracy:personal date must be accurate

storage limitation:date should only be kept long as neccesary

integrity and confidentiality: data must be kept secure and protected

accountability:organisations must accept responsability for how they handle the data