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Transcript
Chapter 5: Action Step 5
Develop a Strong Marketing
Campaign:
How will you reach your customers
and what will you say to them?
The Four Ps of Marketing
•
•
•
•
Product or service
Price you will charge
Place, or sales and distribution
Promotion and advertising
Positive Product Characteristics
•
•
•
•
•
•
Convenience
“Newness” either entire product or features
Improved performance
High Status
Attractive or functional packaging
Attractive appearance and styling
Some Issues with Setting Price
•
•
•
•
Generally, consumers prefer lower prices
Your business needs to make a profit
Low prices sometime signal low quality
It is tougher to raise than lower prices later
Place: Distribution
• How will purchasers obtain your product?
• How will you manage the distribution
process?
• Which distribution channels are available to
you?
– Retail
– Internet
– Direct Mail
Good Promotion Plans:
•
•
•
•
Are specific
Have measureable goals
Include a system for keeping track of results
Hold your expenditures accountable for the
results they produce
Methods to Reach Customers
• Paid media such as television, newspaper,
radio, magazines, and direct mail
• Free media such as media coverage in
newspapers, television, or radio