Marketing Definition of Marketing (it’s not just selling) Marketing is… … the strategy of bringing consumers and products together… …from product development.

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Presentation transcript:

Marketing

Definition of Marketing (it’s not just selling) Marketing is… … the strategy of bringing consumers and products together… …from product development to product delivery.

The marketing mix is the combination of PRODUCT, PRICE, PLACE and PROMOTION (the 4 Ps) chosen to satisfy buyers. The Marketing Mix

Companies segment buyers into groups to define what they respond to… … so they can target them effectively and increase sales. Market Segmentation

4 Ps: Pricing Strategies 1.High Pricing -Contributing Pricing -Demand-based Pricing -Skimming Pricing 2.Competitive Pricing

3.Low Pricing -Penetration Pricing -Competitive Pricing -Promotional Pricing 4 Ps: Pricing Strategies (Cont’d)

4 Ps: Place The Channel of distribution… …the way it is sold. The Method of Distribution… …how it gets there.

4 Ps: Promotion Promotion is maximising sales by raising product awareness… … and encouraging consumers to buy it.

4 Ps: Promotion (Cont’d) Informative advertising… …simply gives consumers facts. Persuasive advertising… …focuses on unique selling points.

Methods of Advertising Broadcast (TV, Radio, Internet) Print (Newspapers, Magazines) Outdoor (Billboards, Posters, Buses)

Promotional Activities… Encourage buyers to buy with a special offer. Main methods include: Vouchers, Special Offers, Discounts and Free Gifts.