www.company.com the most important lesson in marketing

17
www.company.com The Most Important Lesson in Marketing

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Page 1: Www.company.com The Most Important Lesson in Marketing

www.company.com

The Most Important Lesson in Marketing

Page 2: Www.company.com The Most Important Lesson in Marketing

www.company.com

Marketing Mix(4 Ps)

Page 3: Www.company.com The Most Important Lesson in Marketing

The Marketing Mix

TARGET

MARKET

Page 4: Www.company.com The Most Important Lesson in Marketing

PRODUCT

Quality Features Options Branding packaging

Sizes Services Warranties returns

Factors dealing with developing the RIGHT product for the TARGET MARKET

Examples:

Page 5: Www.company.com The Most Important Lesson in Marketing

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?

Page 6: Www.company.com The Most Important Lesson in Marketing

PLACE

Factors dealing with getting the RIGHT product to the TARGET MARKET

Examples: Channels of distribution Locations/outlet Transportation methods Inventory Physical handling

Page 7: Www.company.com The Most Important Lesson in Marketing

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

Page 8: Www.company.com The Most Important Lesson in Marketing

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?

Page 9: Www.company.com The Most Important Lesson in Marketing

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

Page 10: Www.company.com The Most Important Lesson in Marketing

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

Page 11: Www.company.com The Most Important Lesson in Marketing

www.company.com

Uncontrollable Factors(STEEP)

Page 12: Www.company.com The Most Important Lesson in Marketing

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

Page 13: Www.company.com The Most Important Lesson in Marketing

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.”

Page 14: Www.company.com The Most Important Lesson in Marketing

Existing Business Practices

trends & developments in your business and the competitors

the demand for your type of business

Page 15: Www.company.com The Most Important Lesson in Marketing

Economic Factors

trends and developments in: disposable & discretionary

necessities and spendingcost-of-living levelconsumer savings and debtchanging patterns of consumer

spending

Page 16: Www.company.com The Most Important Lesson in Marketing

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)

Page 17: Www.company.com The Most Important Lesson in Marketing

www.company.com

The Most Important Lesson in Marketing