Companies and businesses exist because someone had a need (or a ‘‘want’’) and someone else fulfilled that need with a product or service.
Advantages of packaging or bundling: 1. Gives you the ability to sell slow moving merchandise. 2. Automatically upsells your customers without having to ask for it. 3. Lowers your marketing costs because it allows you to move multiple types of products or services through one advertisement. 4. If you joint venture it exposes your product or service to a new list prospects. 5. Promotes a higher perceived value to your customer.
Amazing Young Business Builders Communications
COMMUNICATIONS Business communication Internal – to communicate between people involved in the project. External – to communicate with possible consumers. It can be done through many different channels. Marketing is the most important of all.
Marketing ‘‘ the purpose of a business is to create and keep a customer.’’ Theodore Levitt Marketing is used to create the customer, to keep the customer and to satisfy the customer.
The marketing mix The primary responsibility of marketing is optimizing the marketing mix to reach business success. The 4 P's Model P roduct P rice P lace P romotion The 4 C's model C onsumer C ost C onvenience C ommunication
The 4 P's Model P roduct A tangible object or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units.
The 4 P's Model P rice The price is the amount a customer pays for the product. It is determined by a number of factors including: market share Competition material costs product identity the customer's perceived value of the product
The 4 P's Model P lace Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Internet.
The 4 P's Model P romotion Promotion represents all of the communications that a marketer may use in the marketplace. Promotion has five distinct elements: Advertising public relations word of mouth point of sale Packaging
The 4 P's Model P romotion Advertising covers any communication that is paid for, from cinema commercials, radio and Internet adverts through print media and billboards.
The 4 P's Model P romotion Public Relations Communication is not directly paid for and includes press releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events.
The 4 P's Model P romotion Word of Mouth It is any apparently informal communication about the product by ordinary individuals, satisfied customers or people specifically engaged to create word of mouth momentum. Sales staff often plays an important role in word of mouth and Public Relations.
The 4 P's Model P romotion Packaging Assembling multiple products or services to sell in a package.
The 4 C's model C onsumer – C ost – C onvenience – C ommunication Characteristics: *more consumer-oriented *fits better in the movement from mass marketing to niche marketing
The 4 C's model C onsumer (product) shifting the focus to satisfying the consumer , to creating a custom solution (capability) rather than pigeon-holing a customer into a product
The 4 C's model C ost (price) Many factors affect cost: Price factors + *the customers cost to change or implement the new product or service *the customers cost for not selecting a competitors capability
The 4 C's model C onvenience (place) With the rise of internet and hybrid models of purchasing, place is no longer relevant. Convenience takes into account the ease to buy a product, find a product, find information about a product, and several other considerations.
The 4 C's model C ommunication (promotion) Communications represents a broader focus than simply promotions. Communications can include advertising, public relations, personal selling, viral advertising, and any form of communication between the firm and the consumer.
COMMUNICATION The image Communication strategies
Brand Image 'The perception of your product or your brand by the consumer.' 'Impression in the consumers' mind of a brand's total personality (real and imaginary qualities). It consists of all the information and expectations associated with a product or service.'
Corporate Image "image is everything" In order for a company to grow and be successful, it needs to develop an image and the image needs to be positive . By developing what is called a corporate image, a company can distinguish itself from the competitors in the community.
Corporate Image This image portrays what the company represents, its values , beliefs and productivity . The corporate image is responsible for increasing sales and business for the company.
Corporate Image A corporation's image is not solely created by the company. Other contributors to a company's image could include: News media, journalists, labor unions, environmental organizations, and other NGOs
Corporate Image Corporate Image affected by ONG's Corporate Image affected by Health Institutions
Corporate image Corporate image basic ingredients: Creativity Name & Logo Colour scheme & Fonts & Shapes Slogan (& Music) Advertising Sales promotions & public relations
Logos graphic mark or emblem commonly employed by commercial enterprises, organizations and even individuals to aid and promote instant public recognition. Logos are either purely graphic ( symbols/icons ) or are composed of the name of the organization (a logotype or word mark )
Logo Analysis Exercise Take the logos created in your class and analize them paying attention to meanings retrieved from: Colours Fonts Shapes Name
Communication Strategies for marketing How to gain customers? How to gain customers loyalty? by means of: Promotion Advertising + sales promotion
Advertising Advertising is a form of communication intended to persuade its viewers, readers or listeners to take some action, usually to persuade potential customers to purchase or to consume a particular brand. It usually includes the name of a product or service (brand) and how that product or service could benefit the consumer.
Types of Advertising I Commercials A television advertisement or television commercial – often just commercial or TV ad (US), or advert or ad (UK/US), – is a span of television programming produced and paid for by an organisation that conveys a message. Infomercials long-format television commercials, typically five minutes or longer.
Types of Advertising II Radio advertising Press advertising Online advertising
Types of Advertising III Mobile billboard advertising Billboard advertising Instore advertisement
Types of Advertising IV Covert advertising Celebrities
Marketing Strategies Exercise Take one of the following brands and analyse their communication strategies.
Now, it's your turn! Exercise Create the image and desig the best markenting strategies for your business using the 4 C's model.