PRINCIPLES OF MARKETING
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The document discusses different types of traditional and contemporary marketing. There are four categories of traditional marketing: print marketing, broadcast marketing, direct mail marketing, and telephone marketing. Contemporary marketing refers to theories that emphasize customer orientation over traditional market orientation and includes co-creation and shared value approaches. Co-creation involves creating a bridge between customers and businesses through gamification, while shared value considers the target market and offers incentives.
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Marketing involves communicating, advertising, and exchanging products and services of value to consumers. It plays a vital role in promoting businesses by drawing attention to their products/services and creating lasting consumer relationships. The document outlines the evolution of marketing from the Production Era to today's Relationship Era. It defines key marketing concepts like the 4 P's of marketing - product, price, place, and promotion. Finally, it discusses different types of marketing strategies such as traditional, digital, brand, and relationship marketing.
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Marketing involves communicating the value of products and services to customers in order to sell them. Key marketing activities include market research, pricing, packaging, branding, sales promotion, advertising, and distribution. Market research gathers information about customers and markets. Pricing determines what a company will receive in exchange for products based on factors like costs and competition. Packaging encloses and protects products for distribution, storage, sale, and use. Branding creates a unique name and image for a product through consistent advertising themes.
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This document discusses the marketing mix, which refers to the set of marketing tools a firm uses to pursue its marketing objectives in a target market. The marketing mix consists of 4 P's - Product, Price, Place, and Promotion. Product refers to the tangible good or intangible service being offered. Price is the value a buyer pays for the product. Place describes how the product is distributed to reach customers. Promotion involves activities to communicate with customers about the product and persuade them to buy it. Together, properly managing these 4 P's can help firms create superior value for customers.
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1a. the 4 ps of marketing
The 4 P's of Marketing refers to the four elements that make up a marketing mix - Product, Price, Place, and Promotion. All four elements are essential to the success of a marketing plan. The Product element refers to the benefits, quality, features, design, and packaging of a product. Price considers the costs to produce and market a product as well as different pricing strategies. Place is about how and where a product will be distributed and sold. Promotion covers the various ways of communicating the benefits of a product to the target market, such as advertising, public relations, and word-of-mouth marketing. An effective marketing mix balances each of the 4 P's to best reach the target market.
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Retailing involves the distribution of products directly to consumers. It began with early bartering and trade, and developed into a specialized commercial activity with peddlers and marketplaces. Retailing is an important field to study due to its impact on the economy and relationships between firms that sell goods to retailers. There are many career opportunities in retailing beyond typical entry-level roles, as large retailers offer career paths across various business functions similar to a small city.
Classification of advertising
This document outlines different types of advertising categorized by influence level, audience, objective, timing of response, and geographical coverage. It discusses primary and selective demand advertising, consumer, industrial, trade, and professional advertising, product, institutional, public service, comparative, competitive, and advocacy advertising, direct and indirect action advertising, and national, regional, and local advertising. The document was presented by Baikhamani kaipeng for their MBA seminar.
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The 7Cs Compass model provides an alternative customer-focused marketing framework to the traditional 4Ps model. It consists of 7 elements: Corporation, Commodity, Cost, Communication, Channel, Consumer, and Circumstances. The 4Cs - Commodity, Cost, Channel, and Communication - are a demand-side version of the 4Ps focusing on meeting customer needs. Circumstances encompasses external uncontrollable factors like economic, social, and environmental conditions that companies must also consider. The model aims to help companies adapt their marketing strategies to both customers' needs and the prevailing environment.
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The marketing mix is a business tool used by marketers to determine a product or brand's offer. It is often associated with the four P's of marketing: product, price, promotion, and place. For services, the four P's were expanded to the seven P's to address the different nature of services. The seven P's model adds physical evidence, people, and process. The marketing mix helps marketers decide how to position products, exploit brands, and configure product lines to complement each other.
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Advertising
The document discusses advertising, including its definition, evolution, objectives, types, and characteristics. Some key points:
- Advertising is a form of paid, non-personal promotion used to influence buying behavior and promote products/services. It has evolved from early forms like signboards to modern mass media advertising enabled by printing technology.
- The main objectives of advertising are to inform potential customers, persuade them, and remind existing customers. Major types include product, institutional, and local/national advertising.
- Characteristics include it being a tool for promotion, non-personal communication, requiring payment, having wide applicability, and using various media channels. Advertising aims to achieve business goals like increased sales and brand
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The document discusses the marketing mix, which consists of the 4 Ps: product, price, place, and promotion. It provides examples of how different companies implement various elements of the marketing mix. Specifically, it discusses:
- The key elements that make up an effective marketing mix for a product according to marketing theory.
- How Kellogg's balances the marketing mix elements of new product development, pricing strategy, promotion, and distribution channels.
- The role of price, distribution methods, and promotion in the marketing mix.
- Manchester United's global brand positioning and use of merchandising, venues, promotional activities, and premium pricing in their marketing mix.
Advertising
the activity or profession of producing advertisements for commercial products or services.
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The document discusses the marketing mix, which refers to the set of controllable marketing tactics used by a company. The traditional marketing mix includes the 4Ps - Product, Price, Place (distribution), and Promotion. Some expand this to the 7Ps by adding People, Physical Evidence, and Process. The marketing mix involves determining the right product to meet customer needs, setting the proper price, making the product available in the right places, and promoting it effectively to potential customers. A company must consider internal and external factors that influence how it sets its marketing mix strategies.
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This document discusses different types of advertising media and interactive media. It defines kiosks and point-of-purchase displays as examples of interactive media that allow consumers to extract information in real time. It also discusses product advertising, which promotes the sale of products and services, and non-product advertising, which promotes public awareness of issues or programs to benefit a company's image rather than sell a specific product. The document provides examples of different distribution channels for product advertising including television, radio, print, mail, websites, and signs.
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The document discusses the origins and evolution of modern marketing and distribution systems over three time periods: 1) 1880-1920 which saw the emergence of mass markets with large companies, national markets, and strategies shifting from price to branding; 2) 1920-1940 which was a period of maturing mass markets with more market segmentation and psychological understanding of consumers; and 3) after 1940 which was a period of reconstruction, economic growth, and consumer boom in Western countries with marketing increasingly focused on human psychology and new distribution channels like supermarkets and shopping malls.
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PRINCIPLES OF MARKETING
- 1. NIKKA FERRER GRADE 12 ABM 2 Victorias National High School
- 2. TRADITIONAL MARKETING โข is a rather broad category that incorporates many forms of advertising and marketing. โข there are four categories; โข print marketing โข broadcast marketing โข direct mail marketing โข telephone marketing (telemarketing)
- 3. PRINT MARKETING โข is the oldest form of traditional marketing. loosely defined as advertising in paper form, this strategy has been in use since ancient times.
- 4. BROADCAST MARKETING โข include television and radio advertisement. radio broadcast have been around since the 1900โs, and the first commercial broadcast.
- 5. DIRECT MAIL MARKETING โข uses printed material like postcards, brochures, letters, catalogs, and fliers sent through postal mail to attract consumers.
- 6. TELEPHONE MARKETING โขis the practice of delivering sales messages over the phone to convince consumer to buy a product or service.
- 7. CONTEMPORARY MARKETING โข refers to theories that stress the importance of costumer orientation versus the traditional market orientation. โข the two kinds of contemporary marketing; co creation and shared value
- 8. CO CREATION AND SHARED VALUE 1. co creation- this theory suggest creating a bridge between customer and business through gamification. 2. shared value- this theory consider the market that the company wants to penetrate and seeks to offer perks in said market.
- 11. Thank you for Watching