Transcript Marketing

Marketing
What does Marketing mean?
Super bowl Ad
Social Media
○78% of business have a team dedicated to
social media
ALS Ice Bucket
Challenge
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Raised $115 million from July-September.
Raised $5 million the year before
Samsung
○ Ellen’s
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selfie during Oscars
Retweeted more than 3.4 million times
Coke
○Replaced their logo with names
○Volume rose 0.4% for the 12 weeks through
August from the same period a year earlier
Product Placement
E.T.
Profits rose 67%
FedEx in Cast
Away
Toy Story
○Mr. Potato Head sales
increased 800%
○Slinky Put the
manufacturer
back in business
Popular Jingles
Video Ads
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https://www.youtube.com/watch?v=K9vFWA1
rnWc
https://youtu.be/XjJQBjWYDTs
Billboard Advertising
Ford Mustang
Adidas constructed this massive 3d advertisement at the Munich airport for the 2006 World
Cup.
Billboards – times square
Marketing and Market Planning
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Market: Group of customers who share
common wants and needs
Marketing – process of developing,
promoting, and distributing products to satisfy
the objectives of customers and businesses
Marketing and Market Planning
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To market a product successfully, a company
has to understand why and what people want
to buy
Marketing a CD requires a different strategy
than marketing diamond earrings
Marketing Mix
○The marketing mix is usually divided into five
major categories (5 P’s of Marketing).
○Product, Place, Price, Promotion, People
Product
Product
The goods or services your business will provide
○ Brand – name, symbol, design used to identify
a product
○ Package – physical container or wrapper that
holds the product
○ Label – part of the package used to present
information
○ All 3, especially branding serve as strategies
for maintaining consumer loyalty
Branding
○Your promise to your customers
○Tells them what they can expect from your
products or services
Branding
○The foundation of your brand is your logo
Expensive logos
1.28 Billion
4.6 Million
Nike
$35.00
Package
Label
Selecting a product
○Generate ideas and sort out good from bad
○Study potential costs and revenues
○Develop the product and test market it
○Introduce the product
Product Positioning
○How consumers see your product compared
to the competition’s product
○Prestigious
○Good bargain
○Equal in quality to other products
○Positioning can be achieved through quality,
availability, pricing, and uses
○Branding, packaging, and labeling also have an
effect on positioning
Product Mix
○All of the products a company makes or sells
○If offer multiple products, think about how they
relate to one another
○If reaching a single market, includes products
that compliment each other
○If reaching multiple markets, more diversified
mix
Product Decisions
○What products should I manufacture or sell?
○How will my products meet the needs of my
target market?
○What level of quality should my goods have?
○How much inventory should I maintain?
○How will my products be different from
competitors?
○What will my customer service policy be?
Place
Place
○Where will you sell your product and how will
you deliver your product to your customers?
Channels of Distribution
○Path a product takes from producer (or
manufacturer) to final user (or consumer)
○Direct channel – moves a product from
producer to customer with no one in between
○Service business
Channels of Distribution
○Intermediaries – people or businesses that
move products between producers and final
users
○Wholesalers and retailers
○Agents – who arrange sales
○Clothing designer use an agent contact
wholesalers and retailers
Manufacturers/Producers
Agents
Wholesalers
Consumers
Retailers
Selecting a channel of
distribution
○The type of business determines your
channel of distribution
○Producer send products through a channel
○Retailer receives products
○Wholesaler does both
Selecting a channel of
distribution
○Channel you choose affects your product
○Raise or lower your product’s cost
○Affect potential for risk (loss or damage while in
transit)
○Determine how quickly your product reaches
customers
Intensity of Distribution
○Intensive distribution – involves placement of
a product in all suitable sales outlets
Intensity of Distribution
○Selective Distribution – limits the number of
sales outlets in a given area
Intensity of Distribution
○Exclusive Distribution – limits the number of
outlets to one per area
Transportation
○How will your product be shipping?
○Truck, train, airplane, ship
○If selling information, send product via Internet
○Method you choose will affect your shipping
cost
○Air transportation is most expensive, waterway
is least expensive
Location, Layout, Availability
○Select a location near transportation routes
○Entries from the street and parking lot
○Design your location and layout to make it
easy for people to do business with you
Impact of Technology
○The Internet has had the biggest impact on
channels of distribution
○Suppliers can deliver what customers want in
a timely manner and at lower cost
○Can track shipments
○Use bar codes to determine change in
inventory
People
People
○Assembling, preparing, and maintaining the
people who will help you achieve success
○Actions, attitudes, and decisions of employees
will impact your business on a daily basis
○Good employees are a key ingredient in your
marketing mix
Basic Hiring Criteria
○Qualifications are dictated by the needs of
your business
○Skills, attitude, ability to learn
Developing Employees
○Consists of two parts
1. Orientation – includes your vision for the
company, plans to carry it out, and
expectations of high performance
2. Providing training – allows employees to
contribute to the performance and financial
goals of the company
Establishing a Productive
Environment
○Employees are treated with respect and trust
○Employees consider themselves members of
a winning team
○Pride, cooperation, and team spirit
Rewarding your People
○Share the financial rewards of the business
○Committed, long-term employees will be more
effective at implementing your marketing
strategies
Google offers free breakfast, lunch, and dinner all
cooked by an in-house chef.
Drops employees off at
eating area
Dogs are welcome!
New mothers get 18
weeks off, fathers get 6
Free daycare
Price
Price
○ Determining the right price to charge for your
product or service.
○ Impacts the business in two ways
○ Ensures costs are covered and a profit is made
○ Affects the customer’s motivation to buy
Promotion
Promotion
○Designed to tell potential customers about
your products, characteristics, benefits, and
availability
○Enhance your company’s image
○Coordinates all aspects of the product
Go through the marketing mix for a product you have recently
purchased
Product
What is the product?
Promotion
How did you hear about it?
How do they advertise?
Price
How much does it cost? (if
you don’t know do an online
search)
Place
What stores sell this
product?