Unit 3 - marketing For manufactures, choosing the right...

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4 p’s of marketing o Packaging – what the customer sees in the case of a consumer or tangible product, or what the customer perceives in the case of a service. Should reflect the image the company wants to display Effective and appealing display influence the consumer o Pricing – many companies determine the price of a product based on the materials and labor costs however pricing can be a marketing strategy. Price elasticity – the effect of price on demand as we ll as market research that supports pricing tolerances within the target market will help a marketer set the right price for a product. o Placement – the distribution and display of a product are crucial factors in successful
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Unformatted text preview: marketing For manufactures, choosing the right wholesalers and retailers is closely connected with image and branding For retailers placement is all about location of the store and location of the product within the store to maximize exposure and profitability of the item o Promotion includes advertising, direct marketing, and coupons or discounts A campaign is a collection of initiatives that tend to be focused around a particular message or goal such as increasing sales of a particular item Cooperative advertising manufacturer offers advertising dollars to retailers who will feature the manufacturers products in their advertisements...
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