The Software Market. The Software market b Marketing The effort to determine and meet the needs and wants of current and potential customers.The effort.

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Presentation transcript:

The Software Market

The Software market b Marketing The effort to determine and meet the needs and wants of current and potential customers.The effort to determine and meet the needs and wants of current and potential customers.

The Software market b The software market is unique however standard marketing principles apply. b The 4 ‘P’s’ of marketing can be followed.

P roduct - What do you sell? b Users expectations must be realised. The program must perform the tasks that it is meant to. b The objectives must be fully understood and requirements met.

P roduct - What do you sell? b What is the demand for products in the marketplace? b This question may determine the type of product that is produced.

P lace - Where do you sell it? b The physical place where a product is sold is related to the type of product and its intended audience.

P lace - Where do you sell it? b Examples Shop fronts, Software RetailersShop fronts, Software Retailers – Computer Stores, Book Stores Industry specific distributorsIndustry specific distributors –Specialised businesses. Direct SalesDirect Sales – Internet, Mail order.

P lace - Where do you sell it? b The place where a product is sold can have an effect on the perceived ethical status of the product and the expectations of potential customers.

P rice - What do you sell it for? b 2 methods to determine the price of a product. b Cost Plus basis b Consumer based pricing

P rice - What do you sell it for? b Cost Plus basis Take the cost of developing the product and add the profit marginTake the cost of developing the product and add the profit margin

P rice - What do you sell it for? b Consumer based pricing Look at what the consumer wants and determine how much they are prepared to pay for it.Look at what the consumer wants and determine how much they are prepared to pay for it. This method takes into consideration the users needs and tries to satisfy that need.This method takes into consideration the users needs and tries to satisfy that need.

P romotion - How do you spread the word? b Promotion consists of all the ways used to persuade people to buy products and services.

P romotion - How do you spread the word? b Promotional activities should help consumers make informed choices. b Advertising activities should provide accurate information that is inoffensive and not misleading.

P romotion - How do you spread the word? b ‘Word of Mouth’ is a powerful promotion technique. b It is important to take into consideration customers’ needs as part of a promotional strategy.

Activity b Choose a piece of commercial software that has recently been produced. b Using Microsoft Word, prepare a report that outlines how the 4 P’s of marketing have been used with the product you have selected.