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.