SlideShare a Scribd company logo
5. PEOPLE
•Ultimate marketing strategy
• Aim to please the customers
• Sell and push the product
• Search hard to find the right market
• Regular contact points between the enterprise and its
market
•
FOUR LEVELS OF MARKETING
EFFORTS OF “PEOPLE”
1. TO CREATE CUSTOMER AWARENESS
2. TOAROUSE CUSTOMER INTEREST
3. TO EDUCATE CUSTOMERSASTHEY EVALUATETHEIR
BUYING CHOICES
4.TO CLOSETHE SALE AND DELIVERTHE PRODUCTS
6. PROMOTION
• Direct communication effort of the
enterprise
• Advertising, public relation
campaigns, promotional tours, product
offerings, sale displays, websites,
flyers, emails, letter, telemarketing etc.
THREE CRITICAL FACTORS OF
EFFECTIVE “PROMOTION”
1. CREDIBILITY OFTHE COMMUNICATOR
2. MESSAGE ANDTHE MEDIUM OFTHE MESSAGE
3. RECEPTIVENESSOFTHE AUDIENCETOALLTHAT IS
BEING COMMUNICATED
7. PRICE
• Depends on the business objectives
set by the enterprise
• Major factor for the customer in
buying product
• Determines the future of the product
and acceptability of the product to
the customers and return
“PRICE” IS IMPORTANT DUETOTHE
FOLLOWING FACTORS:
FACTOR 1. Flexible Element of Marketing Mix
•Price is the most adjustable aspect of the marketing mix.
Prices can be changed rapidly, as compared to other
elements like product, place or promotion.
•Price is very flexible and can be changed according to the
needs of the situation.Therefore it is a very important
component of marketing mix.
FACTOR 2. Right Level Pricing
• The wrong price decision can bring about the downfall
of a company.
•Low prices may attract customers in the initial stages
• Correct fix priced - right level after sufficient market
research and evaluation of factors like competitors’
strategies, market conditions, cost of production, etc.
FACTOR 3. Price Creates First Impression
•If a product is priced too high, then the customer may
lose interest in knowing more. But if he thinks that a
product is affordable, then he would try to get more
information about it.Therefore price is a critical factor
that influences a buyer’s decision.
QUIZ TUESDAY!
• PEOPLE
• PROMOTION
•PRICE

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LET THE MARKET KNOW YOU BETTER 2

  • 1. 5. PEOPLE •Ultimate marketing strategy • Aim to please the customers • Sell and push the product • Search hard to find the right market • Regular contact points between the enterprise and its market •
  • 2. FOUR LEVELS OF MARKETING EFFORTS OF “PEOPLE” 1. TO CREATE CUSTOMER AWARENESS 2. TOAROUSE CUSTOMER INTEREST 3. TO EDUCATE CUSTOMERSASTHEY EVALUATETHEIR BUYING CHOICES 4.TO CLOSETHE SALE AND DELIVERTHE PRODUCTS
  • 3. 6. PROMOTION • Direct communication effort of the enterprise • Advertising, public relation campaigns, promotional tours, product offerings, sale displays, websites, flyers, emails, letter, telemarketing etc.
  • 4. THREE CRITICAL FACTORS OF EFFECTIVE “PROMOTION” 1. CREDIBILITY OFTHE COMMUNICATOR 2. MESSAGE ANDTHE MEDIUM OFTHE MESSAGE 3. RECEPTIVENESSOFTHE AUDIENCETOALLTHAT IS BEING COMMUNICATED
  • 5. 7. PRICE • Depends on the business objectives set by the enterprise • Major factor for the customer in buying product • Determines the future of the product and acceptability of the product to the customers and return
  • 6. “PRICE” IS IMPORTANT DUETOTHE FOLLOWING FACTORS:
  • 7. FACTOR 1. Flexible Element of Marketing Mix •Price is the most adjustable aspect of the marketing mix. Prices can be changed rapidly, as compared to other elements like product, place or promotion. •Price is very flexible and can be changed according to the needs of the situation.Therefore it is a very important component of marketing mix.
  • 8. FACTOR 2. Right Level Pricing • The wrong price decision can bring about the downfall of a company. •Low prices may attract customers in the initial stages • Correct fix priced - right level after sufficient market research and evaluation of factors like competitors’ strategies, market conditions, cost of production, etc.
  • 9. FACTOR 3. Price Creates First Impression •If a product is priced too high, then the customer may lose interest in knowing more. But if he thinks that a product is affordable, then he would try to get more information about it.Therefore price is a critical factor that influences a buyer’s decision.
  • 10. QUIZ TUESDAY! • PEOPLE • PROMOTION •PRICE