MARKET

YOUR
BUSINESS
PRESENTATION
 MARKET
YOUR
BUSINESS
a. Develop a marketing plan

b. The marketing mix – Product

c. The marketing mix - Price

What comes into your mind when you hear the
word “marketing”?

Some of you may think of the strategies and

activities used to promote products or ser vices,
connect with customer s, and create brand
awareness. It often involves adver tising, mar ket
research, and var ious communication methods to
reach and engage with target audiences or
consumer s.

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 Introduction
“Marketing Your Business” is a broad and
essential topic for any business owner or
entrepreneur. It involves strategies and
techniques to promote your products or
ser vices and attract customers.
Remember that an effective marketing
strategy should be flexible and adaptive.
It's crucial to continually monitor and
adjust your marketing effor ts to respond
to changes in your business environment
and the needs of your customers.

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Topic one

Develop a
Marketing
Plan
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Marketing plays a vital role
in the success of a business.
It helps businesses reach
their target audience, create
brand awareness, build
customer loyalty, and
ultimately increase sales and
revenue. Without effective
marketing, businesses
struggle to attract customers
and differentiate themselves
from their competitors.

Presentation Title 9/8/20XX 7

 It is a strategic investment that allows businesses to
effectively promote their products or ser vices and position
themselves in the marketplace.

Marketing is essential for achieving your business goals,

whether you're a small star tup or a large corporation. It's
not just about adver tising but a comprehensive strategy to
build your brand, connect with customers, and drive
growth.

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Developing a strong marketing strategy is crucial for businesses to achieve their
marketing goals. Here are the key steps involved in creating a marketing strategy:

1. Define your objectives : Start by clearly identifying your marketing objectives, such as increasing sales,
expanding market share, or launching a new product. These objectives will guide your marketing strategy.

2. Identify your target audience : A successful marketing strategy requires a solid understanding of your target
audience. Determine the demographics, interests, and pain points of your ideal customers. This information will
help you tailor your marketing messages and select appropriate marketing channels.

3. Conduct a competitive analysis : Analyze your competitors to identify their strengths, weaknesses, and
marketing tactics. This analysis will help you differentiate your business and develop unique selling propositions
that appeal to your target audience.

4. Select marketing channels : Determine the most effective marketing channels to reach your target audience.
These can include digital platforms such as social media, content marketing, email marketing, search engine
optimization (SEO), and traditional channels like print advertisements, TV, radio, and direct mail.

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Developing a strong marketing strategy is crucial for businesses to achieve their
marketing goals. Here are the key steps involved in creating a marketing strategy:

5. Develop a branding strategy : Establish a strong and consistent brand identity that resonates with your
target audience. This includes your company's logo, tagline, messaging, and overall brand image.

6. Set a budget : Determine how much you can allocate towards your marketing efforts. Consider your
marketing goals, the potential return on investment, and the resources available to you. This budget will
guide your marketing decisions.

7. Define your unique value proposition : Determine what sets your business apart from competitors and
identify the key benefits and value you offer to customers. This will form the foundation of your
marketing messaging.

8. Evaluate and measure results : Regularly review and assess the effectiveness of your marketing
efforts. Analyze the data and metrics to determine what is working and what needs improvement. Use
these insights to refine your marketing strategy and make informed decisions for future campaigns.

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 Once the mar keting strategy is developed, it is typically documented in a
mar keting plan. A mar keting plan outlines the specific actions and tactics that will
be executed to achieve the mar keting goals. It includes the following infor mation:

1. Executive summary : An overview of the marketing plan, including key objectives and strategies.

2. Situational analysis : A comprehensive analysis of the current market conditions, including market
trends, customer demographics, competitive landscape, and SWOT (strengths, weaknesses, opportunities,
and threats) analysis.

3. Marketing objectives : Clearly defined goals that the marketing plan aims to accomplish, such as
increasing sales by a certain percentage or expanding into new markets.

4. Target audience : Detailed information about the target audience, including demographics,
psychographics, and buying behavior.

5. Marketing strategies : The broad approaches and tactics that will be used to reach the target audience and
achieve the marketing objectives. This may include product positioning, pricing strategies, distribution
channels, and promotional campaigns. 11
 Once the mar keting strategy is developed, it is typically documented in a
mar keting plan. A mar keting plan outlines the specific actions and tactics that will
be executed to achieve the mar keting goals. It includes the following infor mation:

6. Marketing tactics: Specific actions that will be taken to implement the marketing
strategies. This can include advertising plans, digital marketing campaigns, content
creation, PR initiatives, and event marketing.

7. Budget and timeline: The estimated budget required for implementing the marketing
plan, along with a timeline for executing different marketing activities.

8. Evaluation and measurement: A plan for evaluating the effectiveness of the

marketing efforts and measuring the return on investment. This may involve key
performance indicators (KPIs) such as sales growth, website traffic, social media
engagement, or customer satisfaction surveys. 12
 Summary

Marketing is integral to the success of a business. Developing a

comprehensive marketing strategy involves understanding the
target audience, analyzing competition, selecting appropriate
marketing channels, and establishing a strong brand identity.
The marketing plan documents the strategies, tactics, budget,
and timeline that will be implemented to achieve the
marketing objectives.

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Topic Two

The
Marketing
Mix
-Product-
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The marketing concept is a customer-centric approach to business that places
the customer's needs and wants at the center of decision-making. the marketing
concept directs businesses to place the customer's preferences and satisfaction
at the core of product mix decisions. It's a customer-driven approach that aims
to offer the right products, at the right time, with the right features, and at the
right prices to meet customer demands and build long-term relationships.

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 Product
An item or service designed to satisfy customer needs and
wants. To effectively market a product or service, it's
important to identify what differentiates it from competing
products or services. It's also important to determine if
other products or services can be marketed in conjunction
with it.
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 Product

Creating a marketing campaign starts with an understanding of

the product itself. Who needs it, and why? What does it do that
no competitor's product can do? Perhaps it's a new thing
altogether and is so compelling in its design or function that
consumers will have to have it when they see it.

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 Product
The job of the marketer is to define the product and its qualities and
introduce it to the consumer.

Defining the product also is key to its distribution. Marketers need to

understand the life cycle of a product, and business executives need to
have a plan for dealing with products at every stage of the life cycle. The
type of product also dictates in part how much it will cost, where it
should be placed, and how it should be promoted.

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 Product
Product management within the marketing mix refers to the strategic and
operational activities involved in developing, launching, and managing a
product or service in a way that aligns with marketing objectives, customer
needs, and overall business goals. It is vital because it ensures that a company's
products and services are not only developed successfully but also continue to
evolve and meet the changing needs of customers and the market. It is a
multidisciplinary role that combines business strategy, market understanding,
technical knowledge, and customer focus to drive a product's success.

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Topic three

The
Marketing
Mix
-Price-
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 Price
Price is the amount that consumers will be willing to pay for a product.
Marketers must link the price to the product's real and perceived value,
while also considering supply costs, seasonal discounts, competitors'
prices, and retail markup.
In some cases, business decision-makers may raise the price of a
product to give it the appearance of luxury or exclusivity. Or, they may
lower the price so more consumers will try it.

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 Price
Marketers also need to determine when and if discounting is appropriate.
A discount can draw in more customers, but it can also give the
impression that the product is less desirable than it was.

Marketing professionals need to consider costs related to research and

development, manufacturing, marketing, and distribution—otherwise
known as cost-based pricing. Pricing based primarily on consumers'
perceived quality or value is known as value-based pricing.

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 The primary objective is to set prices Focusing on increasing revenue, businesses may
that maximize profit. This can be done set prices that encourage higher sales volume,
by pricing products in a way that covers even if it means lower profit margins. This
costs and generates the highest objective is especially common for businesses
possible profit margin. seeking rapid growth.

2. Market Share 4. Return of Investment (ROI)

1. Profi t Maximization 3. Revenue Growth

Some businesses may aim to capture a Businesses may set prices to achieve a specific
significant market share by setting lower return on investment. This is common in capital-
prices to attract more customers. This is intensive industries where companies want to
common in competitive markets and can lead ensure they earn a certain percentage of return
to increased sales volume. on their investments.

Pricing Objectives
Pricing Objectives a Business might set.
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 Setting prices to encourage customer loyalty and
repeat business. Loyalty programs and discounts The objective may be to set prices that cover costs and
for returning customers are examples of this reach the break-even point, where revenue equals total
strategy. costs. This is common for startups or new products.

6. Value Pricing

5. Customer Loyalty 7. Break – Even Pricing

Focusing on the perceived value of the product or

service to the customer. Prices are set based on what
customers are willing to pay for that value.

Pricing Objectives
Pricing Objectives a Business might set.
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Calculate the cost of producing or purchasing the Start with a low initial price to gain market share, and
product and add a markup to cover overhead and gradually raise prices over time. This is a strategy to
generate profit. The formula is: Price = Cost + attract price-sensitive customers and establish a foothold
(Cost x Markup Percentage) in the market.

2. Competitive Pricing

1. Cost – Plus Pricing 3. Penetration Pricing

Set prices based on what competitors are charging

for similar products or services. This might involve
pricing at, above, or below competitors' prices to
gain a competitive edge.

Price Calculations
Price Calculations using various methods.
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 Reduce prices of products to stimulate sales or
clear out inventory. Markdowns are often used in Adjust prices in real-time based on factors like demand,
retail and e-commerce to move surplus or seasonal supply, or customer behavior. This is common in e-
items. commerce and the airline industry.

5. Cost-Volume-Profi t Analysis

4. Markdown Pricing 6. Dynamic Pricing

Calculate prices based on the desired profit and

break-even point. The formula involves considering
fixed costs, variable costs, and the desired profit
margin.

Price Calculations
Price Calculations using various methods.
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Consider the costs involved in providing the Analyze market conditions and competitive pricing.
service, including labor, materials, and Research what competitors are charging for similar
overhead, and any other direct or indirect services. This can give you insights into pricing
benchmarks and help you position your service
expenses. effectively.

2. Perceived Value

1. Cost 3. Market conditions

Determine the perceived value of the service

to the customer. What benefits does it provide,
and how much are customers willing to pay for
those benefits? This can help justify the price.

Pricing Services
Factors to consider when pricing services.
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Different customer segments may be The cost of delivering the service can vary
willing to pay different prices. Tailor based on factors like location, travel, or
your pricing to the specific needs and specialized equipment. Ensure that these
expectations of each segment. costs are factored into your pricing.

5. Pricing Strategy

4. Customer Segmentation 6. Service Delivery Cost

Consider your overall pricing strategy, such as whether

you want to position your service as premium, value-
oriented, or somewhere in between. Your strategy
should align with your target market and branding.

Pricing Services
Factors to consider when pricing services.
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Offering discounts for a limited time Setting prices just below round numbers
or to specific customer segments to (e.g., $9.99 instead of $10) to create the
boost sales. perception of a better deal.

2. Bundle Pricing 4. Skimming Pricing

1. Discount Pricing 3. Psychological Pricing

Selling multiple services or products Introducing a product or service at a high

together at a lower price than the sum of initial price and gradually reducing it over
individual prices. time.

Pricing Techniques
Various Pricing Techniques.
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Offering discounts for a limited
time or to specific customer Adjusting prices in real-time based on
segments to boost sales. demand and other factors.

6. Freemium Pricing 8. Geographic Pricing

5. Price Anchoring 7. Dynamic Pricing

Offering a basic service for free and Setting different prices for different
charging for premium features or geographic regions based on factors like
upgrades. market conditions and transportation
costs.

Pricing Techniques
Various Pricing Techniques.
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Pricing is a complex area of business that
requires a deep understanding of costs,
market dynamics, and customer behavior.
Businesses often use a combination of
pricing strategies and techniques to
achieve their objectives and remain
competitive.

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 Angel Lheen L. Brinquez
Cleinton G. Bulao
Erwin Balaobao
Jemae Barrameda

Members:

M a r k e t Yo u r B u s i n e s s 10/18/2023 32
THANK YOU

Hope you
learned
something!
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