Marketing

Marketing is…… the strategy of bringing

consumers and products together…

…from product development to product delivery.

The Marketing Mix

The marketing mix is the combination of PRODUCT, PRICE, PLACE and PROMOTION (the 4 Ps) chosen to satisfy buyers.

Market Segmentation

Companies segment buyers into groups to define what they respond to…

… so they can target them effectively and increase sales.

4 Ps: Pricing Strategies

1. High Pricing- Contributing Pricing- Demand-based Pricing- Skimming Pricing

2. Competitive Pricing

3. Low Pricing- Penetration Pricing- Competitive Pricing- Promotional Pricing

4 Ps: Pricing Strategies

4 Ps: Place

4 Ps: Place

The Channel of distribution…

…the way it is sold.

The Method of Distribution…

…how it gets there.

4 Ps: Promotion

4 Ps: Promotion

Promotion is maximising sales by raising product awareness and encouraging consumers to buy it.

Informative advertising…

…simply gives consumers facts.

Persuasive advertising…

…focuses on unique selling points.

Methods of Advertising

• Broadcast (TV, Radio, Internet)• Print (Newspapers, Magazines)• Outdoor (Billboards, Posters, Buses)

Promotional Activities…Encourage buyers to buy with a special offer. Main methods include:•Vouchers, Special Offers, Discounts and Free Gifts.

Business.govt.nz provides free access to a wide range of resources, including tools and interactive content. It acts as a gateway to government and private sector business information, news and services.Next steps:•Before buying a business•Assess the health of your marketing•Cash flow forecasting•How much money do you need to start a business?•Quick start business plan tool

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