Transcript Marketing Mix

Functions of Marketing
Marketing has two main functions:
1) help a business determine its target market
2) give consumers what they want
Marketing Function – Questions?
Who will buy this product?
When do they want to buy?
Where do they buy?
Why do they buy?
Functions of Marketing
Target Market: a group of consumers the
business wants to reach.
Market Research: the gathering and
analyzing of data to provide a business
with information on consumer needs and
wants.
Marketing Mix: product, promotion, place
and price.
The Marketing Mix
Product: not just the product/service, also
includes product/service’s name,
product’s packaging and labeling and it’s
guarantees.
Brand Name: word(s), number(s), letter(s) of
any combination that are used to identify
a product/service.
Trademarks: Visual elements (logo, symbol,
other designs) that are registered so no
one else can use them)
The Marketing Mix
Packaging: container/wrapper (c/w) for a
product, the design of the c/w and
information printed on the c/w.
- packaging must protect the product but
also attract the attention of the consumer
Labeling: part of packaging that provides the
information about the product (i.e.
ingredients). Labels in Canada must be
printed in both French and English
The Marketing Mix
Pricing: some businesses price their
products/services low to sell more.
Others price them high to make more
profit but with fewer sales.
- businesses need to constantly monitor
their competitors prices compared to
theirs
The Marketing Mix
Place: where a company sells its products
Channel of Distribution: path a product takes
from the manufacturer to the final
consumer.
Wholesaler: buy goods and sell them to other
businesses. Usually buy in bulk and sell
them in smaller quantities to retailers.
Retailer pays less buying from a
wholesaler vs. directly from manufacturer.
The Marketing Mix
Retailer: sell goods directly to consumer.
They can be big like Home Depot or as
small as a hotdog cart.
• manufacturers fight for “good” shelf space
(particularly ones that are at eye level)
Four Most Common Channels of Distribution
1) Manufacturer  Consumer
•
craftspeople, small farmers, internet companies
2) Manufacturer  Independent Distributor 
Consumer
•
door-to-door companies like Avon
3) Manufacturer  Retailer  Consumer
•
cars, furniture, clothing sales
4) Manufacturer  Wholesaler  Retailer 
Consumer
•
Groceries, pharmaceuticals, cosmetics
The Marketing Mix
Promotion: informs consumers about a
product/service and encourages them to
buy it. Involves personal selling, sales
promotion, publicity, public relations and
advertising
Personal Selling: one-to-one communication
of information that tries to persuade a
customer to buy a good/service (i.e. sales
people in a shoe store)
The marketing mix
• AIDA: Formula used to train sales people
• Attract attention (by generating curiosity about the
product)
• Hold interest (so they can explain the benefits of the
product)
• Arouse desire (creates desire in you to buy the product)
• Take action( Close the sale when they have your
interest)
The Marketing Mix
Sales Promotion: all the activities designed to
stimulate you to buy (i.e. free samples,
discount coupons, rebates, in-store
displays and demonstrations and
contests).
- i.e. find a product priced cheaper at a
competitor and they will match it
The Marketing Mix
Public Relations: all the activities by which a
business tries to maintain its good
reputation and promote good will with the
public (i.e. involvement with charities)
Publicity: act of bringing company activities to
the attention of the public. It is neither
controlled or bought by the company, it
can be good or bad (i.e. polluting a town’s
drinking water).
The Marketing Mix
Advertising: any paid use by an advertiser to
inform a target market about a
product/service/idea/organization. The
message can be oral/visual/combination
of both
Advertising has three main objectives
i) Inform ii) Persuade iii) Remind
Advertising
Types of Media
• Newspapers, magazines, radio,
television, internet, direct mail, outdoor
advertising