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Published bySophia Washington Modified over 9 years ago
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Marketing
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Definition of Marketing (it’s not just selling) Marketing is… … the strategy of bringing consumers and products together… …from product development to product delivery.
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The marketing mix is the combination of PRODUCT, PRICE, PLACE and PROMOTION (the 4 Ps) chosen to satisfy buyers. The Marketing Mix
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Companies segment buyers into groups to define what they respond to… … so they can target them effectively and increase sales. Market Segmentation
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4 Ps: Pricing Strategies 1.High Pricing -Contributing Pricing -Demand-based Pricing -Skimming Pricing 2.Competitive Pricing
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3.Low Pricing -Penetration Pricing -Competitive Pricing -Promotional Pricing 4 Ps: Pricing Strategies (Cont’d)
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4 Ps: Place The Channel of distribution… …the way it is sold. The Method of Distribution… …how it gets there.
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4 Ps: Promotion Promotion is maximising sales by raising product awareness… … and encouraging consumers to buy it.
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4 Ps: Promotion (Cont’d) Informative advertising… …simply gives consumers facts. Persuasive advertising… …focuses on unique selling points.
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Methods of Advertising Broadcast (TV, Radio, Internet) Print (Newspapers, Magazines) Outdoor (Billboards, Posters, Buses)
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Promotional Activities… Encourage buyers to buy with a special offer. Main methods include: Vouchers, Special Offers, Discounts and Free Gifts.
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