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Marketing (2)
LEARNING GOALS
Key learning goals:
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Marketing (2)
-Marketing Mix
Marketing (2)
-Marketing Mix
Figure 10-1 Elements of marketing mix:
Marketing Mix
Product
Price
-Appearance
-Cost based
-Function
-production costs
-Competition based
-Consumer based
Capable or solution
Place /
-Retailers
-Wholesalers
-Distribution
-Transportation
Cost
Convenience
Promotion
-Advertising
-Sales promotion
-Personal selling
Communication
Marketing (2)
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Marketing (2)
-Marketing Mix: Product
Table 10-1 Features of a product to meet the needs of customers
Aspects
The appearance
The function
Able to be used
Convenient for use
Meeting special needs of customers
Production costs must be low enough to earn
The cost
consumer needs.
some profit.
High cost, higher price.
Too high price, customers unlikely to buy.
Marketing (2)
-Marketing Mix: Price
Price:
The pricing policy that a business chooses is
often a reflection of the market at which it
is aiming.
The right price set must take into account of
production costs, competitors prices and
consumers purchase ability and demand
level.
Copyright 2002 by Harcourt, Inc. All rights reserved.
Marketing (2)
-Marketing Mix: Price
High customer
demand
Marketing (2)
-Marketing Mix: Price
Attention: High-price strategy
In general, from the economic point of view, the higher
Marketing (2)
- Marketing Mix: Place
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2.
Definition:
Place refers to the means by which products can
be distributed to the consumers. The product
must get to the right place at the right time.
Decision making may be based on the following:
How the product is distributed physically, such
as air, sea, rail, or road.
How the product is sold, such as through
retailers, wholesalers, or direct mailing, etc.
Copyright 2002 by Harcourt, Inc. All rights reserved.
Marketing (2)
- Marketing Mix: Promotion
Definition:
Promotion refers to a number of promotional
Marketing (2)
-Marketing Mix
Marketing (2)
-Marketing Mix
1.
The type of product sold, e.g. for high tech.-equipment, the business needs to
emphasize the product and its quality rather than promotion.
The market sold to, e.g. for consumer markets, promotion may be
emphasized.
The degree of competition, e.g. if the competition is high, price is needed to
be emphasized in order to gain some advantages in the market.
The position of the business in the industry, e.g. if the business is large or
the market leader, it has more freedom to choose the market mix.
The stage of product life cycle in which a product is, e.g. if the product is in
the stage of introduction, of course, promotion must be emphasized...
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Marketing (2)
-Product Life Cycle
Definition:
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Marketing (2)
-Product Life Cycle
Development Introduction
Growth
Brief explanations
Development
Introduction
Growth
Maturity
Saturation
Decline
Sales decline.
Consumers have changed their taste or styles.
New products have to be produced by competitors
Businesses have to develop new products or improve the old product with new technology or simply
give up the product.
Copyright 2002 by Harcourt, Inc. All rights reserved.
Marketing (2)
-Product Life Cycle
Uses of product life cycle:
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It can help a business find out which stage its product is in;
It can help to find out when to launch a new product or stop the
production of a product;
It can help to identify when to introduce an extension strategy;
It can help to identify the revenue trends or profitability of a product
at each stage;
It can help to plan different marketing strategies for a product in
different life cycles
Nontraditional Marketing
Nontraditional Marketing
Nontraditional Marketing
Organization Marketingattempting to