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Enabling a Marketing Mix Using the Four P’s

Enabling a Marketing Mix Using the Four P’s. Adapted from a presentation made by Susan Wolf Neilson and Steve Cramer at the Business Librarianship in North Carolina 2004 Prepared by Dr. Maurice Shihadi.

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Enabling a Marketing Mix Using the Four P’s

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  1. Enabling a Marketing Mix Using the Four P’s Adapted from a presentation made by Susan Wolf Neilson and Steve Cramer at the Business Librarianship in North Carolina 2004 Prepared by Dr. Maurice Shihadi

  2. Scenario: Maurice wants to open an Internet café in Charlotte, North Carolina in the 28202 zip code area. He needs to use the Internet to conduct market analysis concerning the best marketing mix for his product.

  3. Market Analysis: the 4 P’s ProductPlacePromotion Price

  4. 4 P’s: the Marketing Mix

  5. PRODUCT: Market Trends • Gateway to Associations http://www.asaecenter.org/Directories/Supply.cfm?type=search • Google search: coffee “market trends” • Articles from full text library databases (ABI-INFORM, Business Source Elite, InfoTrac Onefile) Example search: (internet or wireless) and cafe and market* and trend* • Articles from full text library Databases • Web Directories for Industries About.com: Retail Industry

  6. “GATEWAY TO ASSOCIATIONS”

  7. “SPECIALTY COFFEE ASSOCIATION”

  8. National Coffee Association http://www.ncausa.org/

  9. http://www.beantrends.com/news.html

  10. ABI/INFORM Database (NC LIVE)

  11. …35% of restaurants and cafes will provide wireless internet access to customers by 2007.

  12. “Not surprisingly, today's most devoted coffee shop patrons are 18- to 34-year olds and those with annual incomes over $75,000. Forty-two percent of 18- to 34year-olds and 46 percent of those who earn more than $75,000 say that when they drink coffee away from home, they head straight for Starbucks-like shops, compared with just 32 percent of all away from-home coffee drinkers. The younger folks are attracted to the coffee-bar atmosphere, music selections and what tends to be a younger customer base, according to the report, while the wealthy simply want the best. Forty-two percent of adults in the highest income bracket agree that coffee shops sell better coffee than other places, compared with 34 percent of the total adult population. But these demographics make up just a sliver of the potential coffee shop consumer market. Almost 7 in 10 Americans (66 percent) drink coffee away from home at least occasionally, according to Mintel's survey, while only a third frequent gourmet java shops. The report does not suggest that the coffee shops' young, wealthy core consumer group is going to jump ship anytime soon, but instead implies that to grow business, coffee shops may want to cater to other demographics or socioeconomic groups.” --American Demographics– ABI/INFORM

  13. Business Source Elite

  14. InfoTrac New York Times thru ProQuest

  15. http://retailindustry.about.com/

  16. 1b) PRODUCT: Competition • Web Directories Google -- “Cyber Cafes” “Internet Cafes Charlotte North Carolina” • Web sites - BizJournals http://charlotte.bizjournals.com/charlotte/ • Hoover’s Company Records • ABI/INFORM Dateline

  17. http://phonebook.superpages.com/yellowpages/

  18. Found using http://www.bizjournals.com

  19. Hoovers from MC Database

  20. 1c) PRODUCT: Industry data • NAICS: North American Industrial Classification System • “the new SIC” • Used by the Census to study and organize U.S. industry data • NAICS codes are searchable from http://www.census.gov/epcd/www/naics.html

  21. Lots of hits: this NAICS # looks closest

  22. Provides benchmark data on coffee shops, including the number of shops selling certain items, and total sales of those items. NAICS # (extra digit!)

  23. Census data for a region: County Business Patterns Provides data at the state, county, zip code, and MSA level.

  24. Provides the total number of companies/per NAICS code in that area, and company size by employee: The “Compare” button lists the data for this NAICS codefor all Charlotte zip codes.

  25. Summary on first “P” PRODUCT • Trade Associations • White Papers • Industry Reports • Newspaper and Magazine Articles • Census industry data via NAICS codes • ReferenceUSA (http://www.referenceusa.com/); or • Duns Million Dollar Database (http://www.libraries.iub.edu/index.php?pageId=400&resourceId=500453)

  26. 2) PLACE Demographics • Pre-formatted lists • Census.gov

  27. Demographics: 2a) Pre-formatted Lists 1. Economic Development Information System http://cmedis.commerce.state.nc.us/ Provides 2-page profiles of counties and regions from the State Department of Commerce (designed more for companies considering moving to NC)

  28. 2. Charlotte Regional Development • http://www.charlotteusa.com/crp/ • Provides more detailed data for all the counties in this area:

  29. Demographics: 2b) Census.gov American FactFinder: Or use the Data Sets link on the left if you prefer buildingyour own tables.

  30. A sample of the tables available from our American FactFinder zip code search: Of course, our entrepreneur may want data on the whole city, since local residents won’t be the onlycustomers of the Internet café.

  31. Census maps byhouseholdincome:

  32. Summary: Second “P” PLACE • Lots of demographic data available for free • Can be simple pre-formatted lists or the results of your own dataset search • LINC: Log Into North Carolina is another good source: http://linc.state.nc.us/

  33. 3) Promotion • Media • The Message • Advertising • Personal Selling • Public Relations • Budget

  34. Radio Advertising Bureau http://www.rab.com NEWSPAPER READERS FAST FOOD USERS TV VIEWERS COOKIE CONSUMERS COFFEE USERS

  35. To Spring ‘04 http://www.arbitron.com

  36. Summary: Third “P” PROMOTION • Media research sources like Arbitron. • Local newspapers: info for advertisers. • Articles about trends and ideas in advertising could help, too. • Most bigger reference departments have directories of media outlets; some have advertising rates books like from SRDS - http://www.srds.com

  37. 4a) PRICE: Consumer Spending • Consumer Expenditure Survey • Consumer Confidence • Industry Benchmarking • Market Pricing

  38. Consumer Expenditure Survey Consumer Expenditure Survey http://www.bls.gov/cex/home.htm

  39. Consumer Expenditure Survey http://www.bls.gov/cex/home.htm

  40. The Conference Board Consumer Spending Trends -- Household Spending http://www.conferenceboard.org/

  41. 4b) PRICE: Industry Benchmarking • U.S. Census reports Annual Benchmark Report for Retail Trade and Food Services (again!) Geographic Series – Accommodation and Foodservices – State Summaries • Consumer Price Index

  42. North Carolina 1997 Economic Census Accommodation and Foodservices Geographic Area Series http://www.census.gov/prod/ec97/97r72-nc.pdf

  43. 4c) PRICE: Market Pricing Internet, coffee, other food, lease prices • wholesale • retail

  44. The share of each market in the four groups is as follows: • Colombian Milds: 30% New York – 70% Germany • Other Milds: 40% New York – 60% Germany • Brazilian Naturals: 80% New York – 20% Germany • Robustas: 25% New York – 75% France International Coffee Organization http://www.ico.org

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