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Chapter 8
MARKETING
The 4 P’s of Marketing
1. Product1. Product
2. Price2. Price
3. Place 3. Place
4. Promotion 4. Promotion
ProductGoal is to design a product that will catch
a customer’s attention and satisfy their need Is the product or service something
customers will want to buy? Will it be of benefit to them? Will it meet their needs?
What is included in Packaging?LabelsDesignsLogos
PricePricing strategy
Choose price of product based on competitor’s pricesCan make your product cheaper than your
competitorsCan make your product more expensive or the
same price as competitorsChoose price based on your product’s image
(high end or economy priced)
Offer discounts or coupons
PlaceHaving product easily available for customers.
Want a location that a lot of people will see and walk by your store.
Need to consider: How will the product or service get to the
customer? What channels of distribution are needed? When should the product or service be in stock
or ready? Where will the product or service be made
available?
PromotionRelates to the communication and selling
to customers
Components of PromotionAdvertisingPublicityPersonal SellingSales PromotionE-marketing
Marketing - Promotion
Personal Selling
Advertising
Sales Promotion
Promotional Mix
Promotional Mix
Publicity
E-Marketing
Publicity & Public RelationsManagement of the communication of the
product or brand with the general public.
Examples:Press ReleaseEvent SponsorshipArrange a speech or a reward
Personal SellingPersuading a potential consumer to
purchase your product or brand.
Modes of SellingDirect SalesIndirect SalesElectronicAgency based
Sales PromotionNon-personal promotional efforts that are
designed to have an immediate impact on sales
Examples:
CouponsDiscountsRebatesGifts
AdvertisingForm of non-personal promotion in which
companies pay to promote ideas, goods, or services in a variety of media.
Different Types of Media:TVRadioPrintInternetBillboards
E-MarketingUsing the Internet to market your product
or service.
Tools available:distribute via the Internet (Amazon.com).use the Internet to build and maintain
customer relationship (Dell.com).money collection could be done online
(bills).attract potential customers to sign-up for
short term trialuse for advertising (Google Adwords)
ADVERTISINGand the Promotional Mix
AdvertisingForm of non-personal promotion in which
companies pay to promote ideas, goods, or services in a variety of media.
Different Types of Media:TVRadioPrintInternetBillboards
Print Advertisements
http://www.thecoca-colacompany.com/presscenter/presskit_open_happiness_images.html(Print advertisements - coke)
Billboards
http://www.smh.com.au/articles/2003/10/08/1065601907307.html?from=storyrhs
http://www.gobritney.com/album2683/britney-spears-2683-54782.html
(Billboard – Pepsi)
http://www.flickr.com/photos/jasoninhollywood/3085768518/
(Billboard – Coke)
TV
http://www.hongkiat.com/blog/battle-of-the-brands-pepsi-vs-coke-advertisements/
(Commercials – Pepsi vs. coke)
Radio
..\Pepsi_Commercial.mp3
(Radio – Pepsi)
http://www.youtube.com/watch?v=189lpNlIUDw
(Radio – Coke)
Question?Think about the different advertisements
that we have looked at today, which one you believe is the most effective and why?
4 P’s Poster AssignmentIn this assignment you will use a poster and
the concepts presented in class to market a very important product─ yourself. You will use create a glogster using a variety of materials including your own pictures to tell the person looking at your poster who you are and what you are all about.
Remember marketing is about getting the audience to want to “buy” the product so make sure that you think about the audience that your poster is aimed at: namely your teacher.