Subject Module - Elective CIAKL II - Class 08

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Subject Module - Elective CIAKL II - Class 08

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Subject Module - Elective CIAKL II - Class 08

  1. 1. EUROPEAN COURSE IN ENTREPRENEURSHIP FOR THE CREATIVE INDUSTRIES 1 MARKETING MIX 9 P’s
  2. 2. EUROPEAN COURSE IN ENTREPRENEURSHIP FOR THE CREATIVE INDUSTRIES 2 Marketing MIX What is Marketing? We look at Marketing as the process of working markets, usually seen as a process of communication regarding the value of products, services or brands to the costumers. Sometimes it might be interpreted as the art of selling products and services, but in fact, selling is just a small part of the marketing process. According the American Marketing Association, “marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (Approved October 2007) Marketing must be seen as a total immersion process in the market, linking the requirements of the society and its economic patterns of response, aiming towards the costumer’s satisfaction. It must be looked at as an organizational function where strategic decisions are toked to creating processes, defining actions for delivering and communicating value to the costumers, managing customer relationships as well as to create benefits throughout the organization. The Scope of Marketing Marketing is involved in 10 types of entities that organizations must use to define their combined strategies in order to promote the best match between costumer needs and the most profitable way to benefit the organization. The 10 types are: 1. Goods 2. Services 3. Experiences 4. Events 5. Persons 6. Places 7. Properties 8. Organizations 9. Information 10. Ideas Marketing-MIX
  3. 3. EUROPEAN COURSE IN ENTREPRENEURSHIP FOR THE CREATIVE INDUSTRIES 3 The marketing mix is a business tool kit to define strategic and operational actions, especially when the organization is determining the product or brand’s offering. The traditional point of view of marketing mix, use the four Ps: • Product • Price • Promotion • Placement More recently a conceptual upgrade was made to 7 Ps: • Product • Price • Promotion • Placement • People • Process • Physicals In recent times, some authors made other approaches to the marketing mix concept and introduced the four Cs, a more customer-driven replacement of four Ps. One is Lauterborn's four Cs (Consumer, Cost, Communication, Convenience), another is Shimizu's four Cs (Commodity, Cost, Communication, Channel). In Creative Industries, considering both points of view as well as the complexity and the specific characteristics of this sector, we may define 9Ps that serve as drivers to define the strategy to work in the market. • Product • Property Rights (Rights Management &DRM) • Price • Placement • Promotion o Advertising and promotional strategy o Mix of communication o Webization Strategy • People • Process • Physicals • Partners - The Big Five ‐ SISPAS (Suppliers, Investors, Sponsors, Place Agents, State)

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