Marketing
 
Introduction
Marketing Defined
Marketing Mix
Marketing Plan
Target Marketing
Internet Marketing
Marketing Trends
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Introduction
To describe the importance of marketing, one need not look further than this quote from Regis McKenna,
        “Marketing is everything, and everything is marketing.”
Everyone is exposed to marketing everyday, even when they don’t know it. Billboards surround the nation’s roads. Logos appear everywhere from t-shirts to the center field of the “Tostitos” Fiesta Bowl. When a teenager is begging his dad to use the family car, he is in fact, marketing himself to his father for the exchange of the keys. And that is what marketing is about. Trying to create exchanges that satisfy and benefit both parties.
No consumer can escape from marketing campaigns, and no business should be operating without a marketing plan to identify potential customers, meet their needs and wants, and keep them coming back for more. This section gives you an introduction into the world of marketing and the different aspects of it. You will hear about the 4 “P’s” of the marketing mix. The important elements of a marketing plan. How your future customers are identified and place between the cross-wires with marketing research and target marketing. To get a specific message to a specific customer, one must be familiar with direct marketing. Internet marketing is one of more recent trends that many organizations are looking at. Overall this section should help you learn about the importance for small businesses to implement marketing plans
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Marketing Defined
There are many text book definitions of marketing. It is very difficult to find two that are the same.  The one constant in most of them are that marketing is a process that’s ultimate goal is to create exchanges that will satisfy and benefit both the customer and the organization. Marketing is the function of an organization that identifies their current and potential customers, creates products or services that meet the needs and wants of customers, informs and persuades the customers to purchases these products or services, and reinforces the customers confidence in the purchase that they made.

It is important for marketing efforts to be customer-oriented. When marketing a product or service, the organization must be certain that the product or service that they are providing is one that the customer wants. Quite often marketing efforts fail when the organization developed the product/service first, then tried to convince it’s customer to buy it. One of the greatest marketing flops of all time was when the Coca-Cola Company decided to change it’s formula in 1985 and introduced it as “New Coke.” It was a disaster. Sales of the New Coke were very low and the Coca-Cola Company was receiving many phone calls and letters from angry customers who demanded the old formula back. The Coca-Cola Company brought back the old formula two months later. Reintroduced as “Coca-Cola Classic,” it was sold along with New Coke and outsold it by two to one in supermarkets. The Coke case is a classic example of what happens when an organization fails to conduct proper marketing research.

The key for a successful marketing effort is maintaining a level of customer satisfaction while at the same time, creating a profit for the organization. Profits must be made in order for the organization to continue to do business.

Marketing is a concept that is always evolving. New definitions of marketing are being written everyday. You’ll find trends in marketing at the end of this page.

References
Majaro, Simon. (1993) The Essence of Marketing. Prentice Hall; New York
Hindle, Tim (1994) Field Guide to Marketing. The Economist Books Ltd; Boston
Kotler, Philip (1991) Marketing Management. Prentice Hall; New Jersey
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Marketing Mix
The Marketing Mix is known the elements that make up the marketing process. They include: They are also known as the 4 “P’s.” It is important for an organization to have a good understanding of the marketing mix. Each element is important when developing a marketing plan.
Price: What is the highest amount that the customer will pay for the product or service? Many times setting the incorrect price level is the beginning of the end for an organization. An organization must be sure that the price is not too high or too low. Mistakes either way will hurt the organization’s income. When an organization is starting out, it is important that they focus their price levels on breaking-even. A break-even analysis is necessary to determine the price to set to avoid a loss.
Product: What you are trying to sell to the customer. An organization needs to have an in depth understanding about what it is they are marketing. Development of the product’s size, quality, design, brand name, packaging are important when trying to match with customer’s needs and wants. An organization should explain how their product’s features benefit the customer.
Place: Where the customer meets the product. The question is how does the customer get to that place? An organization needs to make sure the product or service they are offering is in the appropriate location where its target markets can reach it. An obvious example of poor placement is developing a ski resort in Houston, TX. It is also important to look at the transportation that could be necessary to reach its customers and the geographical barriers that might exist. A B&B will not get many visitors if they have to travel on a poorly lit, gravel road.
Promotion: The method in which the customer will gain knowledge about the product and be persuaded to purchase it. There are many different types of promotional activities that can be used to help gain knowledge, exposure, and desire to purchase When planning these different activities, it is very important to estimate what they will cost and factor that into the organization’s operating budget. When working from a small budget, it is important to take advantage of all opportunities of free publicity. Having a working relationship with the local media will be very useful when trying to generate publicity. Instead of having to spend money on a print ad in the newspaper, you can have an article written about your organization for no charge. It is also important for small budget organizations to create their own personal promotions. An organization can gain exposure by wearing a T-shirt with their logo on it around town.

A recent trend focuses the marketing mix directly on the customer. Instead of the 4 “P’s”, there is the 4 “C’s.”

Many organizations that offer services struggle when trying to apply the 4 “P’s” concept to their marketing plan. They are missing one of the “P’s,” product. Services are intangible, produced and consumed at the same time, rely heavily on the organization’s personnel, and the performance of personnel. Marketing services require a complete dedication to understanding the customer. Everyone on staff in the organization must have a complete understanding of the customer, a relationship with the customer. Relationship marketing is an important concept for service-based organizations, and is discussed in more depth in the Marketing Trends section.
References
Kotler, Philip (1991) Marketing Management. Prentice Hall; New Jersey
Crawford, Walter (1997) Industry Week. “The Mix Makes the Difference.” Vol. 247
Goncalves, Karen (1998) Services Marketing: A Strategic Approach. Prentice Hall; New Jersey
http://www.onlinewbc.org/docs/market/index.html
http://www.ama.org/
http://www.stetson.edu/~rhansen/cj1.html
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Marketing Plan
Marketing plans are an inessential component for all businesses. All businesses that are successful have followed a plan. Their success did not happen because of luck, it happened because the success was planned. A marketing plan helps establish, coordinate, and direct marketing efforts. It forces the organization to take a good, hard look at the market of your field and what is currently happening to it. It’s a time to establish marketing goals and objectives, which can be later used for benchmarking yourself. Marketing plans helps keep the organization on the right track by following the guidelines it sets. It is also critical when trying to borrow money. When an organization plans to allow you to borrow money or invest in your organization, they require to examine your business plan. The marketing plan is a critical part of the business plan.

Marketing Plan Elements:

It is important to regularly update your marketing plan. The market changes almost by the hour. The first marketing plan you create probably will not be effective in the future.
References
McNamee, Patrick (1998) Strategic Market Planning. John Wiley & Sons; England
Kotler, Philip (1991) Marketing Management. Prentice Hall; New Jersey
Winchester, Jay (1997) Sales and Marketing Management. “So What’s the Plan?.” Vol. 149
Berry, Tim (1997) American Demographics. “Where Good Plans Go Wrong.” Vol. N/A
Bade, Nicholas (1994) Marketing Without Money! NTC Business Books; Illinois
Thompson, Harvey (1998) Journal of Business Strategy. “Marketing Strategies: What Do Your Customers Really Want?” Vol. 19
http://www6.americanexpress.com/smallbusiness/resources/expanding/mktplan/
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Target Marketing
One of the overall themes of marketing is customer-oriented. Target marketing is the process of identifying the consumers whose needs and wants you can satisfy the best. This focused, planned approach allows you to allocate your resources to market that offer the best opportunity for a high return on marketing investments. There are three major elements involved with target marketing, marketing research, market segmentation, and market targeting. Single-Segment Concentration: focusing on only one segment. It could thrust you into the lead of that market, but at the same time, if the market goes bad, you would be left in the cold.
Selective Specialization: focusing on a number of different segments. Much less risk than single-segment concentration, because an organization will have other options if one of their markets goes bad.
Product/service Specialization: focusing a specific product/service to market to a specific segment. An example of this would be how Odyssey only produces and markets putters to the golfing segment.
Market Specialization: focusing on the many needs of a specific customer group. These are where your specialty shops fall in. Nevada Bob’s focusing golfers. Suncoast Video focusing on movie buffs.
Full Market Coverage: trying to cover all segments with the products/service they might need. The only organizations that are successful at this are the large corporations.
References
Majaro, Simon (1993) The Essence of Marketing. Prentice Hall; New York
Cook, Kenneth (1993) AMA Complete Guide to Small Business Marketing. NTC Business Books; Illinois
Bade, Nicholas (1994) Marketing Without Money! NTC Business Books; Illinois
http://www.winonanet.com/mktplace/infopoint/target1.html
http://www.onlinewbc.org/docs/market/index.html
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Internet Marketing
In order to stay competitive, an organization needs to keep up, and take advantage of, the new technologies that surround them. The latest and greatest marketing tool is the information superhighway, more specifically, email and the internet. Web pages are an excellent way to allow your customers to reach you. Your organization can be accessed at any time and any place in the world. Customers can order goods or services, see examples of your products, ask questions, find the location of your organization, all at the click of a button.
The Online Women’s Business Center has many good ideas for using the internet as one of your marketing activities:
References
Bayne, Kim (1997) The Internet Marketing Plan. John Wiley & Sons. England
Krauss, Michael (1998) Marketing News. “The Web is Taking Your Customers for Itself.” Vol. 32
Hardin, Terri (1998) Successful Meetings. “Web Marketing 101.”
http://www.ims.net/
http://www.onlinewbc.org/docs/market/index.html
http://www.clickz.com/index.shtml
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Marketing Trends

Organizations need to keep update with all the latest business trends to keep up with the competition. Two of the important trends in the marketing world are Relationship Marketing and Guerrilla Marketing.

Relationship Marketing: The tradition concepts of marketing focus on making the sale or transaction. Relationship marketing’s goal is to enhance the relationship with the customer. It recognizes the customer’s complete value, a value that the organization can benefit from throughout the lifetime of the customer. Relationship marketing takes that benefit, and shares in back with the customer to create both customer and organizational satisfaction. Relationship marketing does not only focus on the customer; it also should be applied to other publics such as the local community, suppliers, and even the competition. An organization should use relationship marketing to create an understanding with all these publics.

Guerilla Marketing: This is a rather new concept that is designed specifically for the small businesses that want to compete with the big corporate world. Guerrilla marketing uses unconventional methods to accomplish conventional goals. Organizations can do this by maximizing all their resources in their marketing efforts. Guerrilla marketers look for opportunities for free advertisement and free publicity. When they spend money on marketing techniques, they dissect every aspect of the technique to get the most out of the money they spent.

Marketing today is moving a lot closer to the customer. Organizations are no longer asking for the customer’s input after they have made the product or completed the service. They are asking well in advance, and the customer is noticing. Customer value and relationships must be the focus of an organization’s marketing campaign. There are so many options out there for the customer, if they do not appreciate how they are being, or not being treated, there will be another organization ready to give them what they want in a heartbeat.

References
Levinson, Jay (1984) Guerrilla Marketing. Houghton Mifflin; Boston
McIntyre, Susan (1998) Direct Marketing. “Cataloging for Entrepreneurs #3: ‘Guerrilla Operations.’"
Vol. 60
http://www.gmarketing.com/main.html
http://www.marketv.com/
http://www.aarm.org/frontpage.html
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This page written by Ben Chulick
 
Dept. of Park, Recreation & Tourism Resources