An introduction to Marketing

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Presentation transcript:

An introduction to Marketing

The tasks

Why has the Wii been so successful? It has a unique control system It’s cheaper than the Xbox360 and PS3 There are lots of good deals about The games are easy to play and aimed at all ages You can buy them in a massive range of shops It has been heavily publicised

So is this just good luck? A number of different factors have come together to ensure that the Nintendo Wii is a global, commercial success This is NOT a coincidence! The product, price, place of sale and the promotion techniques have all be carefully thought about and planned. This is known as the MARKETING MIX

The Marketing Mix- The 4 Ps Product/service What makes the product or service stand out? What is new or different about it? Price How much is it? Why is this appropriate? Is it good quality? Value for money? Place Where is the product available? Is it available to it’s target group? Promotion How do people know about it? Advertising? Sponsorship? Events?

The Marketing Mix has to be right! All 4 Ps have to be right for a product, service or business to be successful: It will fail… If the product is useless or already available If the price is too high, (poor value for money) or too cheap (most people prefer expensive perfume!) If it is not available where you need it – surf shops on the beaches in North Cornwall are bigger and more successful than those in Blackpool! People do not know about it! I.e. it is not promoted or advertised!

Marketing Mix: Case study Vs. Werther’s Originals Vs. Haribo Starmix

Werther’s Originals Vs Haribo Starmix They’re both bags of sweets, sold in the confectionary They both available in similar sized bags They both cost about the same amount They’re both advertised on the TV BUT They have a different marketing mix…

How is the product different to other products? Who are they aimed at? How does the design/name reflect it’s target group? How are they promoted?

How is the product different to other products? Who are they aimed at? How does the design/name reflect it’s target group? How are they promoted?

Werther’s Originals Vs Haribo Starmix Conclusions Both products are in the same market, but aimed at different target groups The product and promotion are differentiated to appeal to these groups By changing the marketing mix, you can define the success/failure of your product

The UK’s first Battery-Electric vehicle! The Sinclair C5 Top Speed: 15mph Just £399 The UK’s first Battery-Electric vehicle! Despite a relatively cheap price, a massive international marketing campaign, and being widely available, the Sinclair C5 was a huge commercial failure. Despite millions of pounds of investment, the C5 sold fewer than 17,000 units. What do you think the main problems with the product are?