Transcript Marketing
Intro to SEM Intro to SEM Marketing Planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objective What does this mean in your own words? Intro to SEM Marketing Creation: Involves product development Maintenance: Marketing must continue as long as the business operates Satisfaction: Must meet the needs of BOTH businesses and customers Exchange Relationship: Occurs when people both give and receive something of value Intro to SEM Utilities Attributes of goods/services that make them capable of satisfying consumers’ wants and needs 5 Utilities 1. 2. 3. 4. 5. Form Place Time Possession Information Intro to SEM Form: Making products that consumers need and want – Special features or ingredients Place: Having a product where customers can buy it – Online / Mail / Retail Time: Having products available when consumers want them – Store hour / Holiday events Possession: Exchange of a product for money – Cash / Credit / Layaway Information: Communication with consumers – Information about the product and how to use it Intro to SEM The Marketing Mix (4 P’s) Product: Place (some times referred as Distribution): Locations and methods used to make products available to customers Price: What a business offers customers Amount customers pay for products Promotion Ways to encourage customers to purchase products and increase customer satisfaction Intro to SEM Four Marketing Elements (4 P’s) Which of the 4 P’s is most important? Why? What is the 5th P? Intro to SEM Sports Marketing Sports-based Marketing of teams, sports, venues, and athletes Examples? Chicago Bears, MLB, Rose Bowl, Payton Manning Traditional Efforts to incorporate sports into the firm’s marketing Examples? Coke, Pinnacle Bank, Wheaties, HD TV Intro to SEM Traditional Sports Based Intro to SEM Entertainment Marketing Influencing how customers choose to use their time and money Marketed as a product Examples? Iron Man, WWE, DMB Concert Entertainment to draw attention to other products Examples? Hiring a celebrity to endorse a product Intro to SEM Marketed as Product Draw Attention to Other Products