Marketing Lecture

What is Marketing?

Identify customer needs to develop new products.

Develop pricing strategies

Promote products to a target audience

Identify distribution networks

Add value to products through customer benefits

Monitor the performance of products

The 4 Ps

Product - An item that satisfies a consumers needs or wants and is a good or a service.

Price - The amount a customer pays.

Promotion - Represents all methods of communication that a market may use to provide information to different parties.

Place - Refers to providing the product at a place or in a context which is convenient for a consumer to access.

The relationship between these is the key to successful marketing.

87% of design businesses have employ fewer than 10 people.

16% of design companies are in Northern England

23% are based in London

57% of design companies collaborate with other companies on client briefs

28% designers are freelance.

A successful business is not necessarily a profitable business.

In order to be successful as a graphic designer you need to be aware of entrepreneurship.

Only 5% of the UK are entrepeneurs.

What kind of creative are you?

Ideas and Opportunities

What is an idea?
Anything, anywhere
Always random, seldom materialises, and is rarely successful.

We have approximately 5000 ideas in the space of 24hrs.
To go with an idea, you need an opportunity. Opportunities are fundamentally different, and require you are in the right place at the right time.
For example, Davinci was considered a genius, and had big ideas, ones that we actually use now, such as helicopters, parachutes etc. But the conditions were never right.
The politicians saw no benefit to his suggestions, there was no stable economy to support these ideas, there was no real need for them at the time, and the technology of the time was far too primitive to recreate his ideas successfully.
Politics, Economy, Social, Technological - all factors that need to be taken into account for an idea/opportunity to work. PEST Analysis

Opportunities -
Trends
Technology develops
Political change
Boom and Slump in the Economy
Human Need
Problems
Research

During our economic slump, mid sized businesses failed due to their financial infrastructure  whilst big business managed to ride it out, but small businesses were the ones that grew during the period.