Marketing mix - the 7 P's of marketing
Product - most products are services and paying for the service for example car insurance or a washing machine. Parts of the product include the Introduction then growth, maturity and then the decline of the product.
Price - cost based pricing which means the cost of the product to make and the profit they want. it is also what the customer is prepared to pay for the product. there is a term called market skimming where they price the product quite expensive making people think it is a quality product and will be prepared to pay for the quality.
Place - how to bring the product to the customer. channels of distribution such as intermiederies sell through the wholesaler.
Promotion
3 extra P's are:
People
process
physical evidence
Thursday, 29 September 2011
Wednesday, 21 September 2011
Marketing & PR - lesson 1
What is marketing?
Marketing is a process in which a company go through, when a product they have designed could be of interest to the public and they raise awareness or publicity of the product. They go into a researching stage of finding out what the people what from the idea the company has, developing the product, design and packaging for the product. The product has to fit in with the brand and also how they will distribute the product with how people can get hold of it. Also marketing is putting the product to the public through using:
What exactly is involved in a marketing campaign?
For example, with the company and brand Apple, a lot of work goes into their marketing campaigns. With their product the Iphone, they have brought out a line of Iphones gradually adding better features and making it a better product every time. They make this happen through research. They will turn to the public and ask them what they would want from that company with the idea they have given them and also give their opinion on price ad packaging on the product. After carrying out their market research they start to make and produce the idea into the product and its packaging. By this stage they also have to think about distribution of the product and how people can purchase it. For example when Apple released the IPhone they made a deal with the phone company 02, where they have exclusivity to the phone for a month before any other company can sell it. Once the product is distributed they need to get it known to the public and advertise this, they can do that through posters, events, sending it out to be reviewed and many other ways. Below is a youtube clip advertising the IPhone 4's feature of 'face time'.
Marketing is a process in which a company go through, when a product they have designed could be of interest to the public and they raise awareness or publicity of the product. They go into a researching stage of finding out what the people what from the idea the company has, developing the product, design and packaging for the product. The product has to fit in with the brand and also how they will distribute the product with how people can get hold of it. Also marketing is putting the product to the public through using:
- posters
- video
- adverts
- events
- leaflets
What exactly is involved in a marketing campaign?
For example, with the company and brand Apple, a lot of work goes into their marketing campaigns. With their product the Iphone, they have brought out a line of Iphones gradually adding better features and making it a better product every time. They make this happen through research. They will turn to the public and ask them what they would want from that company with the idea they have given them and also give their opinion on price ad packaging on the product. After carrying out their market research they start to make and produce the idea into the product and its packaging. By this stage they also have to think about distribution of the product and how people can purchase it. For example when Apple released the IPhone they made a deal with the phone company 02, where they have exclusivity to the phone for a month before any other company can sell it. Once the product is distributed they need to get it known to the public and advertise this, they can do that through posters, events, sending it out to be reviewed and many other ways. Below is a youtube clip advertising the IPhone 4's feature of 'face time'.
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| This is the first IPhone designed by Apple. Some of its features are a 2.0 megapixel camera, ipod, mail and internet. |
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| This is the IPhone 4, the latest of the IPhone line. It's newer features are a 5.0 megapixel camera on front and back of product, new slim and sleek body and a HD LED backlight glass screen. |
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