AEM220_222ToPost - AEM220 Introduction to Business...

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Unformatted text preview: AEM220, Introduction to Business Management. Friday 2/22 Marketing (III) The four Ps: Place Logistics The four Ps: Promotion Customer Relationship Management The Supply Chain Distribution Effect on Your Food Dollar Utilities Created by Intermediaries Form utility Taking raw materials and changing their form so that they become useful products Making products available when they are needed Making products available where they are needed Doing whatever is necessary to transfer ownership from one party to another, including providing credit Opening two-way flows of information between marketing participants The provision of fast, friendly service during and after the sale, including teaching customers how to best use products over time Time utility Place utility Possession utility Information utility Service utility Wholesalers Retailers Logistics Physical Distribution Information Distribution Inbound logistics Bringing raw materials, packaging, other goods and services and information from suppliers to producers Materials handling Movement of goods within a warehouse or factory Outbound logistics Flow of finished products and information to business buyers and consumers Reverse logistics Bringing goods back to the manufacture because of defects or for recycling Transportation Modes Promotional Mix and Strategies Advertising Personal selling Sales promotions Public relations Push strategies Personal selling Sales incentives Trade promotions Pull strategies Advertising Consumer promotions Loyalty programs Advertising Expenditure by Media (2005) Advantages and Disadvantages of Various Advertising Media Sales Promotions Strategies B2B vs B2C Markets B2B Sales Promotion Trade shows Portfolios for salespeople Deals (price reduction) Catalogs Conventions Customer Relationship Management The customer life cycle Acquire, through differentiation, innovation and convenience; Enhance, through bundling, cost reduction and customer service; Retain, through adaptability, communication and new products. Direct marketing Cross-sell and up-sell Fulfillment Customer support Proactive service, retention and loyalty programs Sales force automation. Solutions Takeaways The supply chain is an integral part of the value added of a product. Logistics is a significant source of competitive advantage for an organization (ie. Wal-Mart). Never confuse advertising or public relations with promotion. Implement the integrated marketing approach across the organization. The most common source of failure among new businesses is insufficient promotion and, more generally, marketing efforts. Do not make that mistake. ...
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