Download Marketing Activities

Marketing Activities
BMI3C
Marketing Activities
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Research
Product Development
Packaging
Pricing
Branding
Sales
Distribution
Inventory Management
Storage
Promotion
Research
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Purpose: to learn about the market
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Consumer preferences, habits, lifestyle
Competitors
Examples:
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Surveys
Media research
Focus groups
Product Development
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Purpose: Make a product that effectively and
profitably meets the needs/wants of
consumers
Packaging
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Must provide protection for the product while
also serving as a promotional tool
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Package must be attractive/enticing to the
consumer
Must also obey government regulations
Pricing
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Setting the price of a product/service in order
to maximize profit for the company
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The lowest price is not always the best
Based on
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Cost to produce and market the product
What the customer is willing to pay
Competitor pricing
Brand image
Branding
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Creates an identity in the mind of consumers
Key components:
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Trademark
Logo
Slogan
Package design
Sales
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Convincing potential customers to purchase
your product/service
Goal is to increase the size of your market
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Acquire new customers while retaining old ones
Distribution
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Moving products to their final destination
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From the manufacturing plant, to distributors, to
retailers
Must be done efficiently and inexpensively
Inventory Management
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Retailers must make sure they have enough
product on hand to meet demand, but not too
much
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Don’t want to have more products than you can
sell
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Products take up space
Older products become difficult to sell
Must also keep track of inventory so you
know when to order more, are aware of
thefts, etc.
Storage
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Arranging and maintaining storage for
products until they are needed
May be done by a manufacturer, distributor,
or retailer
Promotion
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Used to make consumers aware of a
company’s products/services
Examples
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Advertising
Coupons
Samples