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18 Marketing Place&Promotion

18 Marketing Place&Promotion - ~ BCOR 1010 ~ BCOR...

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Unformatted text preview: ~ BCOR 1010 ~ BCOR Introduction to Business Section 100 Instructor: Beth Cross Office: Room 345E – CESR Suite, Koelbel Email: [email protected] Email: [email protected] Cell #: 303 956-6010 Office # 303 492-4463 Office Hours, Spring, 2009: Office Mon. 11:30a-1:00p, Wed. 10:30a-12:00n Wed. and by appointment and The Marketing Mix – “Four Ps” PRICE PLACE PRODUCT PROMOTION Four elements the firm can apply to achieve specific goals Marketing: Product Marketing: What is a product? What – The Total Product Offer includes: Product/Service Itself Value Enhancers: – Packaging – Branding – Services – Warranties – Location B s, e ra n d , ng i L le yc c ife M L ix, in y ,T es p Marketing: Price – Easiest of the four Ps to change – Most difficult of the four Ps to control Costs and Market – What are your objectives? Image, profit, volume, traffic, market share…… Marketing: Price Marketing: Price – Pricing Considerations / Tools Pricing Considerations Cost-Based Cost-Based Demand-Based Competition-based Break-Even Analysis – Pricing Strategies Pricing Strategies Skim Pricing Skim Penetration Pricing Penetration The Marketing Function The A. Introduction B. Product C. Price D. Place E. Promotion Marketing Mix: Place Marketing Distribution includes all the activities Distribution necessary to move products from producers to customers to – Transportation & Warehousing – Inventory control & Materials handling The Distribution Channel is the path that a The Distribution product or service follows from the producer to product the end user the Marketing: Place Direct versus Indirect Distribution Channels Retailers, Wholesalers, and Agents The Value of Intermediaries Warehousing, Transportation, Materials Handling ~Channels for Consumer Products~ Intermediaries = “Middlemen” Producer Producer Producer Producer Agents/Brokers (Middlemen) Wholesalers (Middlemen) Wholesalers (Middlemen) Retailers (Middlemen) Retailers (Middlemen) Retailers (Middlemen) Consumers Consumers Consumers Consumers Value of Intermediaries Intermediaries Time Utility Place Utility Service Utility Form Utility Information Utility Ownership Utility Place - Logistics Logistics Logistics - Physical Distribution – Warehousing Allows production efficiencies – Transportation Rail vs. Air vs. Ship – Materials Handling Tracking/RFID Containerization Logistics is part of the Supply Logistics Supply Chain Management Supply Chain - the flow of information, materials, and services that starts with raw materials suppliers and continues through all stages of operations until the product or service reaches the customer. Supply Chain Management - connecting and integrating all parties in the chain to improve the flow “end-to-end” for the mutual benefit of all businesses in the chain and the customer. “Logistics” “Long term partnerships among channel members to reduce costs, waste and unnecessary movement through the channel to satisfy customers” The Marketing Function The A. Introduction B. Product C. Price D. Place E. Promotion Marketing: Promotion Does marketing work? Marketing: Promotion Communicating uses, features and benefits of a product. Positions Differentiates Can add value Identifies needs Marketing: Promotion Marketing: Media Fragmentation – Cable – Internet – Craigslist – DVR DVR US Advertising Dollars ADAge 2006 Fact Book : Direct Mail $52 Newspapers $47 Broadcast TV $46 Cable TV Network $22 Radio $20 Yellow Pages $14 Consumer Magazine $12 Internet $7 Out of Home $6 B Magazines $4 Other $ 35 TOTAL $264 Billion in billions Marketing: Promotion Trends • • • • • Less broadcast Less print Product placement ($3.46 billion - PQ Media) Infomercials Internet Interactive promotion YouTube, podcasts, blogs….. • Cell phones • Targeted global markets/cultures Craig’s List – As of 2007, Craigslist operated with a staff of 24 people. Its sole source of revenue is paid job ads in select cities and paid broker apartment listings in New York City. – Leading classifieds service in any medium. The site receives over two million new job listings each month, making it one of the top job boards in the world. Promotion Strategies: Push vs. Pull Push Strategy Producer → ← Wholesaler → Retailer ← Retailer → Consumer Pull Strategy Producer Wholesaler ← Consumer The Promotion Mix The Integrated Marketing Communications - a ntegrated arketing ommunications unified effort unified Coordination of the promotion mix Coordination elements elements – – – – Advertising Personal Selling Publicity and Public Relations Sales Promotion Sales The Promotion Mix The Advertising Personal selling Publicity Public relations Sales promotion Promotional positioning Advertising Advertising "I know that half of my advertising dollars are wasted ... I just don't know which half.” – John Wanamaker Advertising Advertising Cingular Apple 1984 Nike Who is the target? What are they selling? Direct Marketing Direct 51% of total advertising expenditures A measurable response Order Lead Generation Traffic – Opportunities to test/learn Source: 2007 DMA The Promotion Mix Advertising Personal Selling Publicity Sales Promotion (cont’d) (cont’d) The Product Life Cycle The Case: Bryant Pharmaceuticals Case: Four P’s Marketing Mix Consumer Buying Process Convenience, Shopping, Specialty Goods ( and “Unsought Goods”?) Product Life Cycle Product Target Markets Differentiation Market Segmentation Environmental Factors Branding …….. Case: Bryant Pharmaceuticals 1917-2006… Popular actress in the 1940s and 1950s; Golden Globe winner ...
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