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Published byTrevor Anthony Modified over 9 years ago
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What is Marketing? A quick introduction David Jobber: ‘The achievement of corporate goals through meeting and exceeding customer needs better than the competition’
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The Marketing Mix Referred to as the 4 ‘P’s: Product Price Promotion Place Decisions about these are based on the results of market research
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Product The right product for the customer Must provide real BENEFITS for the customer Or solve the customer’s problem Kotler: ‘Successful companies add benefits to their offering that not only satisfy customers but also surprise and delight them.’
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Products can be: Goods (Durable and Non-Durable) Services Ideas, Information Experiences Places Properties Organisations Even PEOPLE!!
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Price The right price A price which reflects the customer’s willingness and ability to pay A price which ensures the customer feels s/he has obtained real value A price that ensures company profitability
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Place Getting the product to the customer: In the right place At the right time e.g. Shelves fully stocked, convenient opening times
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How do you apply this to a service? Think… Barclays EasyJet Tesco All are Services
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Service Process Make it easy for the customer to buy and use the service e.g. Direct Line Insurance - no forms, no fuss Tesco - no queues at checkouts P&O ferries - fast loading and unloading
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Promotion Ensuring that advertising, sales and other promotions communicate the REAL BENEFITS of the product to the customer
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Promotion for Services The essential tools for the job which back up many products e.g. The bank’s buildings The courier’s vans – think DHL The airline’s aircraft – think EasyJet The hairdresser’s salon decor etc
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Promotion for Services There are also peripherals or ‘little extras’ that remind the customer of the service e.g. The bank cheque books The RAC/AA membership card
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