ASAS PEMBUDAYAAN
KEUSAHAWANAN
Lecture 5
Marketing
Introduction
Marketing is basically an exchange activity that
takes place between a business entity and its
customers.
The customers can include individuals, other
business entities (e.g. wholesalers and retailers)
and support organizations (e.g. banks and
government agencies).
Marketing is a critical activity in any business
because it forms the backbone to the total
business effort in achieving a profitable income.
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UNDERSTANDING
MARKETING
Marketing Concept
Marketing concept rest on the
philosophy that all marketing activities
must satisfy customer needs and wants,
and at the same time achieve the
targeted profits.
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Marketing Definition
Marketing can be defined as the activities that are
carried out systematically to encourage and increase
sales of products /services as long as the activities are
in line with religious and ethical practice. (Matyasin
and Zanariah, 2004)
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Elements of Marketing
1. Systematic (Activities) Effort
2. Encourage and Increase Sales
3. Religious and Ethical Considerations
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What is a Market?
Market is defined as any entity that has
the purchasing power to acquire goods
and service to fulfill its needs and
wants.
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PREPARING A MARKETING
PLAN
Eight Steps in Preparing a
Marketing Plan
1. Define the product concept
2. Identify the target market
3. Determine market size
4. Identify competitors
5. Determine market share
6. Develop sales forecast
7. Develop marketing strategy
8. Prepare a marketing budget
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Target Market
Definition of Target Market
Group of customers with needs and wants
that can be satisfied by the business
through the supply of goods and/or
services
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Importance of Identifying
the Target Market
1. It is almost impossible for a business to offer a
product that can satisfy the needs and wants of the
entire population.
2. Most businesses have limited resources in terms of
time, money and power.
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Steps in Identifying the Target
Market
1. Identify the product or service to be offered
2. Focus the marketing effort
i. Identify the market area and business location
ii. Collect information and data of customers
iii. Segmenting the market
3. Determine target market from the market segments
identified
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Sales Forecast
The sales forecast is the expected
sales potential from the selected
target market. The sales forecast is
quoted in units of sales or Ringgit for
a period of time.
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Sales Forecast
Four main steps in preparing a sales
forecast:
1.Determine Market Size
2.Identify the Competitors
3.Estimate Market Share
4.Forecast Sales
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1. Determine Market Size
Market size is the total potential purchase that is
expected from the target market.
The potential purchase includes purchases of the
competitor’s product within the same market.
Market Size Estimation
› Estimation of market size requires information
regarding the particular market the business intends to
enter.
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2. Identify the Competitors
The business has to identify its main competitors in
order to know whom the business is sharing the market
with and to develop appropriate marketing strategies to
compete with its rivals.
It must also analyze the strengths and weaknesses of
the competitors in terms of size, experience, number of
years in business, financial capabilities and product
line.
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3. Estimate Market Share
Market share refers to the portion of the market that
the business can control after taking into consideration
market size and the competitors’ position in the same
market.
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4. Forecast Sales
1. Customer awareness of the existence
of the business
2. Seasonal factors
3. Pre-sales period
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Develop Marketing Strategies
The four Ps of marketing:
Product
Price
Place (distribution)
Promotion
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Product
• Brand • Product
• Quality Differentiation
• Design • Attractive
• Packaging Customers
• Protection • Product Safety
• Ease of Use • Labeling
• After Sales
Service
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Pricing Strategy
1. Cost-Based Pricing
2. Value-Based Pricing
3. Competitive-Based Pricing
4. Factor Affecting Pricing
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Place (Distribution) Strategy
1. Selling Direct to Customer
2. Selling Through Retailers
3. Selling Through Wholesalers
4. Selling Through Wholesalers and Retailers or
Agents
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Promotion Strategy
1. Advertising
i. Printed media
ii. Broadcast media
iii. Internet
iv. Outdoor Advertising
2. Sales Promotion
3. Public Relations and Publicity
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Managing Marketing Activities
Managing by Objective
Gantt Chart
The Marketing Budget
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Enthics and Legal Physical
Laws, regulations, Environmental quality,
cours decisions, aesthetic pollution
trade practices
MARKETING PLAN Economic
Social Product/Promotion/ Inflation, shortages,
Consumerism, Pricing/Personel Selling/ business cycles
consumer protection Distribution
Competitive International
Benefits and dangers Exchange rate, Societal &
Environmental
of competition trade barriers, cartel Factors Impacting
Marketing
Programs
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END OF LECTURE
THANKS FOR PAYING
ATTENTION!
Marketing Plan LDK
Design your marketing plan (group)
Product, Price, Promotion, Place
Write on the mahjong paper
PRESENT (10 mins)
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