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MARKET YOUR BUSINESS

MARKET YOUR BUSINESS. 9.1 The Marketing Mix—Product, Distribution, Price 9.2 The Marketing Mix—Promotion 9.3 Set Marketing Goals. Lesson 9.1 THE MARKETING MIX— PRODUCT, DISTRIBUTION, PRICE. Select a product mix, product features, and positioning for your goods.

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MARKET YOUR BUSINESS

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  1. Chapter 9 MARKET YOUR BUSINESS 9.1 The Marketing Mix—Product, Distribution, Price 9.2 The Marketing Mix—Promotion 9.3 Set Marketing Goals

  2. Chapter 9 Lesson 9.1THE MARKETING MIX—PRODUCT, DISTRIBUTION, PRICE • Select a product mix, product features, and positioning for your goods. • Identify channels of distribution for your product or service. • Price the products or services your business sells using various methods. GOALS

  3. Chapter 9 MARKETING MIX Marketing mix is the blending of: • Product • Distribution • Price • Promotion

  4. Chapter 9 PRODUCT • Product mix • Selecting product features • Position your products or services

  5. Chapter 9 Distribution • Channels of distribution for retail goods • Distribution on the Internet • Receiving goods to sell • Channels of distribution for service businesses • Channels of distribution for manufacturing businesses • Physical distribution • Transportation • Storage and product handling

  6. Chapter 9 Price • Set price objectives • Determining a price • Demand-based pricing • Cost-based pricing • Competition-based pricing • Pricing a service • Time-based pricing • Bundling • Breakeven point

  7. Chapter 9 Lesson 9.2THE MARKETING MIX—PROMOTION • Use advertising to promote your business. • Study publicity as a promotional tool. • Evaluate the role of selling in a business. • Evaluate other kinds of promotion. GOALS

  8. Chapter 9 ADVERTISING • Advertising is a paid form of communication sent out by a business about a product or service. • Public relations is the act of establishing a favorable relationship with customers and the general public.

  9. Chapter 9 MESSAGE • Choose your message • Choose your medium

  10. Chapter 9 ADVERTISING MEDIA • Television advertising • Radio advertising • Newspaper advertising • Telephone directory advertising • Direct-mail advertising • Magazine advertising • Outdoor advertising • Transit advertising

  11. Chapter 9 PUBLICITY • Selling • Personal selling • Product knowledge • Determining customer needs and wants • Needs assessment • Buying decisions • Customer decisions

  12. Chapter 9 OTHER TYPES OF PROMOTION • Sales promotions • Telemarketing

  13. Chapter 9 Lesson 9.3SET MARKETING GOALS • Set short-, medium-, and long-term goals for your business. • Write your marketing plan. GOALS

  14. Chapter 9 ESTABLISH YOUR GOALS • Short-term goals • Medium-term goals • Long-term goals

  15. Chapter 9 SHORT-TERM GOALS • Short-term goals are what you want your business to achieve in the next year. • Goals can be stated in terms of: • Number of customers • Level of sales • Level of profits • Other measures of success

  16. Chapter 9 MEDIUM-TERM GOALS • Medium-term goals describe what you want your business to achieve in the next two to five years.

  17. Chapter 9 LONG-TERM GOALS • Long-term goals show where your business will be five, ten, even twenty years from now. • Thinking about what you want to do in the long term can help you think about how to market the business today.

  18. Chapter 9 WRITE YOUR MARKETING PLAN • Your written marketing plan should identify your overall market strategy as well as your specific strategies for price, product, distribution, and promotion.

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