Transcript What is “marketing”?

Marketing Apparel Products
Apparel Development 2
Objective 4.01
What is “marketing”?
Using a variety
of methods to
persuade
customers to
purchase
products and
services.
Marketing Strategy
Mapping out all aspects
of a business plan
What direction you are
going
How you plan to get
there
What assets will you
need
Marketing Objectives
***The goals of
marketing plan
How much will we
sell
To whom
At what price
Market Segmentation
Groups of buyers
with similar needs
and interests
Based on:
Demographics
Geographics, and
Psychographics
Target Marketing
This is the
specific market
segment on
which you are
going to
concentrate your
efforts.
Target Market
A group identified for
a specific marketing
program.
When a business
does not identify a
target market, its
marketing plan has no
focus.
The “6 P’s”
Product
Place
(distribution)
Price
Promotion
(advertising/packag
ing)
People
(customers)
Position (in the
market place)
Product
Choosing what
products to
make and sell
Choosing what
services to offer
Distribution
The means of
getting the
product into the
consumer’s
hands.
Distribution Channel
Process of
getting
merchandise to
the proper
location.
Indirect Distribution
Product
delivered through
wholesalers
Manufacturer ->
wholesaler->
retail location
Direct Distribution
Product to
customer; no one
in between
you make a purseyou sell it to your
customers
Ways of Distribution
Retail store**- most
of the space is
used for selling
Department store-many
different types of
products men's,
children's, electronics,
make-up; Target, Sears
Boutique- specializes in a
type of product
Warehouse- no frills, low
prices
Ways of Distribution cont.
Mail Order- low over
head (no retail space)
high profit
*Catalog- print
promotion; 800#; delivery
to person
*Internet-secure
connections only-pay pal
protects both buyer and
seller
Price
Price strategies
should reflect what
customers are willing
and able to pay.
Take into account
prices the competition
charges.
Promotion
Refers to decisions
about advertising,
personal selling,
sales promotion,
publicity and
packaging.
Packaging
The physical
container or
wrapper that
holds the
product ***
Label
The part of the
product’s package
used to present
information
Market Share
% of the market that your
product holds versus the
% of all the competitors
Based on total sales
Market Share
If 100,000 purses are
sold every year in
Statesville, and your
business sold 25,000
of those, what % of
the market share do
you have?