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Marketing

Marketing. Chapter 8. The 4 P’s of Marketing. 1. Product. 2. Price. 3. Place. 4. Promotion. Product. Goal 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?

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Marketing

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  1. Marketing Chapter 8

  2. The 4 P’s of Marketing 1. Product 2. Price 3. Place 4. Promotion

  3. Product • Goal 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? • Labels • Designs • Logos

  4. Price • Pricing strategy • Choose price of product based on competitor’s prices • Can make your product cheaper than your competitors • Can make your product more expensive or the same price as competitors • Choose price based on your product’s image (high end or economy priced) • Offer discounts or coupons

  5. Place • Having 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?

  6. Promotion • Relates to the communication and selling to customers • Components of Promotion • Advertising • Publicity • Personal Selling • Sales Promotion • E-marketing

  7. Marketing - Promotion Personal Selling Publicity Promotional Mix Sales Promotion E-Marketing Advertising

  8. Publicity & Public Relations • Management of the communication of the product or brand with the general public. • Examples: • Press Release • Event Sponsorship • Arrange a speech or a reward

  9. Personal Selling • Persuading a potential consumer to purchase your product or brand. • Modes of Selling • Direct Sales • Indirect Sales • Electronic • Agency based

  10. Sales Promotion • Non-personal promotional efforts that are designed to have an immediate impact on sales • Examples: • Coupons • Discounts • Rebates • Gifts

  11. Advertising • Form of non-personal promotion in which companies pay to promote ideas, goods, or services in a variety of media. • Different Types of Media: • TV • Radio • Print • Internet • Billboards

  12. E-Marketing • Using 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 trial • use for advertising (Google Adwords)

  13. Advertising and the Promotional Mix

  14. Advertising • Form of non-personal promotion in which companies pay to promote ideas, goods, or services in a variety of media. • Different Types of Media: • TV • Radio • Print • Internet • Billboards

  15. Print Advertisements http://www.thecoca-colacompany.com/presscenter/presskit_open_happiness_images.html (Print advertisements - coke)

  16. 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)

  17. TV http://www.hongkiat.com/blog/battle-of-the-brands-pepsi-vs-coke-advertisements/ (Commercials – Pepsi vs. coke)

  18. Radio ..\Pepsi_Commercial.mp3 (Radio – Pepsi) http://www.youtube.com/watch?v=189lpNlIUDw (Radio – Coke)

  19. Question? • Think about the different advertisements that we have looked at today, which one you believe is the most effective and why?

  20. 4 P’s Poster Assignment • In 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.

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