Transcript Chapter 9 MARKET YOUR BUSINESS

Chapter 9
MARKET YOUR BUSINESS
LESSONS
9.1 The Marketing Mix—Product,
Distribution, Price
9.2 The Marketing Mix—Promotion
9.3 Set Marketing Goals
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Chapter 9
Slide 2
Lesson 9.1
THE MARKETING MIX—
PRODUCT, DISTRIBUTION, PRICE
GOALS
 Select a product mix, product
features, and positioning for
your goods.
 Identify channels of distribution
for your product or service.
 Price the products or services
your business sells using
various methods.
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Slide 3
MARKETING MIX
Marketing mix is the blending of:
Product
Distribution
Price
Promotion
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Slide 4
PRODUCT
Product mix
Selecting product features
Position your products or services
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Slide 5
Distribution
 Channels of distribution for retail goods
 Distribution on the Internet
 Receiving goods to sell
 Channels of distribution for service businesses
 Channels of distribution for manufacturing
businesses
 Physical distribution
 Transportation
 Storage and product handling
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Slide 6
Price
 Set price objectives
 Determining a price
 Demand-based pricing
 Cost-based pricing
 Competition-based pricing
 Pricing a service
 Time-based pricing
 Bundling
 Breakeven point
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Slide 7
Lesson 9.2
THE MARKETING MIX—PROMOTION
GOALS
 Use advertising to promote your
business.
 Study publicity as a promotional
tool.
 Evaluate the role of selling in a
business.
 Evaluate other kinds of
promotion.
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ADVERTISING
Advertising is a paid form of
communication sent out by a business
about a product or service.
Public relations is the act of
establishing a favorable relationship
with customers and the general public.
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Slide 9
MESSAGE
Choose your message
Choose your medium
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ADVERTISING MEDIA
 Television advertising
 Radio advertising
 Newspaper advertising
 Telephone directory advertising
 Direct-mail advertising
 Magazine advertising
 Outdoor advertising
 Transit advertising
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Slide 11
PUBLICITY
Selling
Personal selling
Product knowledge
Determining customer needs and wants
Needs assessment
Buying decisions
Customer decisions
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Slide 12
OTHER TYPES OF PROMOTION
Sales promotions
Telemarketing
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Lesson 9.3
SET MARKETING GOALS
GOALS
Set short-, medium-, and
long-term goals for your
business.
Write your marketing plan.
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Slide 14
ESTABLISH YOUR GOALS
Short-term goals
Medium-term goals
Long-term goals
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SHORT-TERM GOALS
Short-term goals are what you want your
business to achieve in the next year.
Goals can be stated in terms of:
Number of customers
Level of sales
Level of profits
Other measures of success
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MEDIUM-TERM GOALS
Medium-term goals describe what you
want your business to achieve in the
next two to five years.
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LONG-TERM GOALS
Long-term goals show where your
business will be five, ten, even twenty
years from now.
Thinking about what you want to do in
the long term can help you think about
how to market the business today.
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Slide 18
WRITE YOUR MARKETING PLAN
Your written marketing plan should
identify your overall market strategy as
well as your specific strategies for price,
product, distribution, and promotion.
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