Unit 3 All About the Customer - Tactical Elements - Introduction to Marketing.docx

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Tactical ElementsIntroductionThe fourPs of marketing are product, place, price, andpromotion.When a business is deciding what customers want or need,the business is determining which product or service to sell tocustomers. The otherPs of marketing are also important tothe overall strategy.Promotioninvolves getting the word outto potential customers about the product. The pricingstrategies are important. If the price is too high, customerswill not purchase the products. If it is too low, the businesswill not make the revenue that it needs to continue to growthe business. If the placement or distribution is not plannedcorrectly, there could be issues in getting products to thecustomers. All fourPs of marketing play an important role inthe overall marketing strategy.Watch ItWatch the following video for a reminder of how the fourPswork together (Professor Wolters, 2019):Key TermsTake NoteClick on each term to preview the important vocabulary foundwithin this lesson.AdvertisingPricing
DistributionLearning MaterialsKelly and Jacob are marketers for a new brand of soft drink.They know that it is important to make sure that their productis differentiated from the competition. It needs to besomething different than what is already on the market. Indesigning the product, they reviewed what customers wantand need and decided to launch a soft drink with light flavorssimilar to Gatorade (but with the carbonation that customerswho drink soft drinks enjoy, just without sugar or caffeine).They are meeting to decide how to bring the new product tothe market. They know that the fourPs of marketing arecritical to the success of their marketing strategy. They needto brainstorm to decide the remaining threePs—promotion,pricing, and place.AdvertisingAdvertisingis a paid presentation that promotes products andservices for businesses. There are different types ofadvertising, including the following:PostersMobile apps and textsWeb pagesBanner ads on popular Web sitesSignsDisplays in storesPrint ads in newspapers, magazines, and on fliersRadio or satellite radioTelevisionThere are other examples, but these are common methods ofadvertising. Advertising is used in getting the word out to
potential customers. It is one of the most widely usedpromotional tools in marketing. However, marketing andadvertising are different.Watch ItWatch the following video to understand the differencebetween marketing and advertising (The Big Marketer - PPC &SEO, 2019):ExampleKelly and Jacob have discussed many options. They havedecided to begin paying for ads on Facebook, Twitter, andYouTube to reach their target customers who enjoy the flavorsof Gatorade but want something carbonated. Their customersare primarily young adults aged 20–35 who are healthconscious but enjoy the occasional soft drink. Advertisingacross different mediums will help them get the word out

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