www.company.com the most important lesson in marketing
TRANSCRIPT
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www.company.com
The Most Important Lesson in Marketing
![Page 2: Www.company.com The Most Important Lesson in Marketing](https://reader036.vdocuments.net/reader036/viewer/2022082713/5697bf851a28abf838c879e1/html5/thumbnails/2.jpg)
www.company.com
Marketing Mix(4 Ps)
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The Marketing Mix
TARGET
MARKET
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PRODUCT
Quality Features Options Branding packaging
Sizes Services Warranties returns
Factors dealing with developing the RIGHT product for the TARGET MARKET
Examples:
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Exercise
Using the available products: What distinguishes their packaging? Which packaging is more eye-catchy? Which do you prefer? Which tastes better? Which looks better?
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PLACE
Factors dealing with getting the RIGHT product to the TARGET MARKET
Examples: Channels of distribution Locations/outlet Transportation methods Inventory Physical handling
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PRICE
Factors dealing with setting the RIGHT price
Examples: retail/list price Supply and demand Production costs Allowance (car trade-in) Payment period Credit terms
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Exercise
Again using the products: What do you think the price difference
is? Why do you think this is so? Does it make a difference?
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Prices:
Corn: DeodorantGreen Giant - $1.39 Speed Stick - $2.89
Del Monte - $1.29 Old Spice - $1.98
No Name - $0.99
Cookie: Gelatin:Chunks Ahoy - $3.49 Jell-o - $0.79
PC Chunky - $2.49 No Name - $0.59
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PROMOTION
Factors dealing with communicating to the TARGET MARKET about the RIGHT product, at the RIGHT place to find it, for the RIGHT price
Examples: Advertising Personal selling Sales promotion publicity
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www.company.com
Uncontrollable Factors(STEEP)
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Social, Cultural, Demographic Factors
developments and shifts in values and lifestyles
Examples:
birth rates, death rates, age distribution, marriage rates, fashions, divorce rates religious influences, geographical distribution
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Technical and Ecological Factors
the supply and cost of natural resources environmental deterioration and pollution developments in new products, materials,
and technologies.
Examples:
Research and Development (abacus, calculator, computer etc.)
“Technology has the power to create new industries and destroy existing ones.”
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Existing Business Practices
trends & developments in your business and the competitors
the demand for your type of business
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Economic Factors
trends and developments in: disposable & discretionary
necessities and spendingcost-of-living levelconsumer savings and debtchanging patterns of consumer
spending
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Political and Legal Factors
developments in: Legislation Government enforcement impact of public interest groups
(boycotts)
Examples:product safety, occupational safety, truth in advertising, price legislation, package regulation (English and French)
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www.company.com
The Most Important Lesson in Marketing