Marketing in general definition of the basics of marketing. The mindset and concept of branding and rebranding. The 4Ps and Segmentation.
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Marketing involves the 4 Ps of product, price, promotion, and place. Segmentation divides the market into demographic, psychographic, geographic, and behavioral categories. Managing the marketing process requires choosing brands and products to sell based on segmentation analysis and agreements with wholesalers. Perceptual mapping involves advertising products at the right time, place, and price through various media to increase the market. The marketing mix aims to sell products at the right place, price, and with proper promotion while considering competition.
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Price is perhaps the most crucial aspect of the marketing mix to determine whether customers make the purchase. If priced too low, you lose profitability. Priced too high, customers will choose a competitor.
This article discusses several pricing strategies that businesses can use to get it right.
Price is based on research, experience, and understanding of the market, to calculate a price expected to be profitable and sell enough volume to be sustainable as a business.
Price also must stand its ground against alternative options from competitors.
Pricing is at the core of marketing strategy, being one of the original ‘4Ps’ of the Marketing Mix.
Changing core marketing strategies and new product development is expensive and time-consuming, but the price is very flexible, and business can change it according to the needs of the situation. Price is the most adjustable aspect of the marketing mix, allowing a business to quickly respond to marketplace changes.
For customers, price is often the most crucial factor of their purchase decision. Businesses use price as a differentiating factor to set them apart from competitors and to target a segment of customers. Your price reflects your positioning in the market. Pricing helps create your brand identity.
These slides discuss twelve ways a business can price their products or services.
P5
The document discusses various marketing techniques used by organizations, including market segmentation, targeting, positioning, and branding. It provides details on how Magners Cider uses these techniques. Specifically, it notes that Magners segments its market by age range, targeting 20-25 year olds. It uses branding to increase recognition and promotions both above and below the line. The location where it places its products is also important to effectively target its desired demographic.
Similar to Marketing in general definition of the basics of marketing. The mindset and concept of branding and rebranding. The 4Ps and Segmentation. (20)
Developing of New product and Marketing product -Flying pods
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Marketing mix-Types-4 p's,7p's-scope and Importance.
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Marketing in general definition of the basics of marketing. The mindset and concept of branding and rebranding. The 4Ps and Segmentation.
- 1. COPYRIGHT©2013BY SHAHINAZ EL RAMLY 1
- 2. WHAT IS MARKETING Marketing is the 4 Ps. That is to say: Product Price Promotion Place
- 3. WHAT IS SEGMENTATION Segmentation is divided in 4 categories: Demographic segmentation Psycho graphic segmentation Geographic segmentation Behavioral segmentation
- 4. HOW DO WE MANAGE THE MARKETING PROCESS? We have to choose our brands that is to include our name and logo, the logo and slogan are the trade mark. Then we have to agree, with wholesalers and merchandizers for agreed products line, which we choose to sell in the market according to segmentation analytic.
- 5. HOW DO WE MANAGE THE MARKET? Segmentation analytic include a ratio of the 4 segments because some segments are parallel. When we reach the target segment, we sell our product at a profit price and we have a rebate system. We may sell brands at a higher price and this would be agreeable because of its uniqueness and added value. The value of our brands is according to how much it attracts the audience.
- 6. HOW TO MANAGE THE MARKETING PROCESS? E.g. some companies or organization sell products and some have brands and product line. The thing is that there is something called skimming. What is skimming? Skimming is to go from a higher price to a lower price. E.g. the mobile market
- 7. FORECASTING Forecasting is the prediction of the price. E.g. when you make business or sell a product you have to set the right price. This is according to the expenditure of material and the manufacturing. Also the inventories and price.
- 8. SLICING Slicing is at random, which is on seasonal occasions. Some products are to be sold seasonally.
- 9. PERCEPTUAL MAPPING Perceptual mapping is when you produce something and you want to sell it at a price in the right time, right place, right price. This is done through advertising in magazines, and journals to increase the market or facilitate the process. Perceptual mapping has a vertical axis, the price might be middle, low, high, average.
- 10. MARKETING MIX Marketing mix is to sell a product: in the right place with the right price and promote it. There might be competition, so you have to know how to exceed the market.
- 11. PROLOGUE Marketing is the marketing mix and segmentation analytics to meet the demands of purchase for a rebate and input, largely speaking and the influence of the perceptual ratio in competing and exceeding.