Elements of business skills chapter 5 slides

Elements of Business Skills Chapter 5 Aspects of Marketing

Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What is Marketing? ,[object Object],[object Object],[object Object]

Which Burgers Are Yummier? Burger King? MacDonalds ? KFC ?

[object Object],[object Object],[object Object],Can You Tell Me Why?

The Marketing Process… Let’s see…I want my business to be better than the others! But, how do I win the competition? Mr Suresh wants to make his first million selling roti-pratas. Let me give you an advice: Start with knowing 1) who are your potential customers ! Donald Trump, Billionaire, Marketing Guru of ‘The Apprentice’

The Marketing Process Cont… 2) Understand your customers’ needs and wants 3)Apply the 4Ps of Marketing 4) To be better than your competitors in satisfying customers’ needs and wants! Do all these 4 steps and you WILL earn your million!

1) Your Potential Customers (Target) Customers can be grouped in different ways Geography: Where they live or work? Age: How old are they? Gender: Male or Female? Income: How much they earn? Profession: What their jobs are? Lifestyle : What their areas and attitudes are? Social group: Who they Mix With? Customers can be grouped in different ways

Remember! Different groups = Different needs and wants goods = customers Eg. A mother who has just given birth will not have the same needs as a woman who is getting married.

The 4 Ps of Marketing ,[object Object],[object Object]

The 4 Ps ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

4Ps- Product ,[object Object],[object Object],[object Object],or

What makes a good product? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Eg: Do you think Sony has all these characteristics?

What’s the difference? ,[object Object],[object Object],[object Object],[object Object]

Goods ‘vs’ Services ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Branding… ,[object Object],[object Object],[object Object],[object Object],[object Object]

Brand Loyalty ,[object Object],[object Object],[object Object]

Why is Branding Important? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What is Packaging? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Functions of Packaging… ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Support Services ,[object Object],[object Object],[object Object],[object Object],[object Object]

Types of Support Services ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

ASPECTS OF MARKETING MARKETING PRODUCT PLACE PRICE PROMOTION 4 P s

SUPPORT SERVICES ,[object Object],[object Object],LOYALTY CARDS DELIVERY CUSTOMER SERVICE What other SUPPORT SERVICES are there? (brainstorm 5 other services) 113 why? PRODUCT PLACE PRICE PROMOTION 4 P s

PRICING ,[object Object],[object Object],[object Object],Too high… airfares loans rent room rates … customers may not buy Too low… … you will lose $$$ money $$$ PRODUCT PLACE PRICE PROMOTION 4 P s

3Cs of Pricing C OSTS C OMPETITORS’ PRICE C USTOMER’S WILLINGNESS TO PAY ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],PRODUCT PLACE PRICE PROMOTION 4 P s

PRICING TECHNIQUES 117-118 Odd-even pricing Optional-product pricing Product-bundle pricing Promotional pricing Product-line pricing PRICING TECHNIQUES PRODUCT PLACE PRICE PROMOTION 4 P s

PRICING TECHNIQUES 117-118 ,[object Object],[object Object],[object Object],Product-line pricing discuss PRODUCT PLACE PRICE PROMOTION 4 P s

PRICING TECHNIQUES 117-118 ,[object Object],[object Object],[object Object],[object Object],Optional-product pricing discuss PRODUCT PLACE PRICE PROMOTION 4 P s

PRICING TECHNIQUES 117-118 ,[object Object],[object Object],[object Object],Product-bundle pricing PRODUCT PLACE PRICE PROMOTION 4 P s

PRICING TECHNIQUES 117-118 ,[object Object],[object Object],Promotional pricing PRODUCT PLACE PRICE PROMOTION 4 P s

PRICING TECHNIQUES 117-118 ,[object Object],[object Object],Odd-even pricing $1.99 $29.99 $79.90 PRODUCT PLACE PRICE PROMOTION 4 P s

PLACE 119 ,[object Object],LOCATION TYPES OF OUTLETS CONSIDER PRODUCT PLACE PRICE PROMOTION 4 P s

LOCATION DECISION ,[object Object],[object Object],Convenient location Target customers Competition Accessibility Volume of human traffic PRODUCT PLACE PRICE PROMOTION 4 P s

PROMOTION ,[object Object],[object Object],[object Object],[object Object],PRODUCT PLACE PRICE PROMOTION 4 P s

[object Object],[object Object],Advertising Sales promotion ,[object Object],[object Object],PRODUCT PLACE PRICE PROMOTION 4 P s

[object Object],Public relations (PR) PRODUCT PLACE PRICE PROMOTION 4 P s special events sponsorship corporate identity materials websites news PR TOOLS

[object Object],[object Object],Personal selling advantages?? Direct marketing ,[object Object],[object Object],[object Object],[object Object],PRODUCT PLACE PRICE PROMOTION 4 P s

CREDITS… ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Elements of business skills chapter 5 slides

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Elements of business skills chapter 5 slides