What is Marketing Presentation Flashcards
Marketing Activities
Market Research
Gathering information on consumer preferences
What do consumers want or like?
Product Development
Creating a product that meets the needs of the consumer
Pricing
Determining the best price for the product (not necessarily the lowest price)
Do you agree?
Branding
A products name, trademark, logo, slogan and package design can be used to create or maintain a unique brand identity
Ex. Nike uses famous celebrities to appeal its shoes to sports fans and athletes
Marketing Activities (part 2)
Sales
Determining how and where to sell the product or service
Ie. internet, stores, by mail, etc.
Physical Distribution
Getting the product or service to the customer quickly and affordably
Inventory Management
Selling precisely the amount of inventory that is available
TOO LITTLE PRODUCT = LOSING POTENTIAL SALES
TOO MUCH PRODUCT = PRODUCT NOT SELLING
Promotion
How to effectively create awareness of the product to the consumer
The Four P’s of Marketing
Product: What are you going to sell?
Price: How much can you charge for your product?
Place: Where will people buy your product?
Promotion: How will people find out about your product?
How successful you are at these four elements will strongly influence your business’ revenues.
As a B2B marketer, you focus more on personal selling, personal relationships
Conferences, trade shows provide opportunities for marketers to target businesses
Higher priced items
Examples:
Selling software to a construction company
Selling computers to a school board
B2C Marketer
Focus is on consumer goods
B2C marketers invest a lot in generating demand and popularity
Superbowl Ads, hailing return of McFLurry or McD’s $1 drink.
Dual B2C and B2B
Ikea markets to both businesses and consumers
B2C: families, young professionals, College/University students on a budget
B2B: small business owners, start up companies
