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Unit 10 Marketing The Marketing Mix In this part, you’ll Learn about the “4Ps” and “4Cs” of marketing. Look at some familiar products and how they are marketed Promote a product with what you learned about marketing What are “4Ps”? “4Ps” Product Price Place Promotion Product: the goods or the service that you are marketing It includes: • • • • • image design quality reliability features and benefits Features and benefits make the product unlike any of the competing products. Price: making it easy for the customer to buy the product Price: The product must be priced so that it competes effectively with rival products in the same market Lower price, better marketing ? Place: getting the product to the customer Place: Various channels of distribution: Producer ---- end-users Producer ---- retailers ---- end-users Producer ---- wholesalers/ agents ---- retailers ---- end-users 4. Producer ---- Wholesalers ---- directly to endusers 5. Producer ---- multiple store group/department stores/ mail order houses ---- end-users 6. Producer---- market ---- wholesalers ---- retailers ---- end-users 1. 2. 3. Promotion present the product to customers through advertising 1. Packaging and presentation 2. Image 3. Brand name 4. Advertising and slogans Promotion involves: Packaging and Price lists presentation of the product Image Brand name Advertising and slogans Brochures Literature After-sales service and training Trade fair Public relations Publicity Personal selling Advertising: TV commercials Gift coupons Newspaper ads Presents Magazine ads Lottery Posters bonus Placing special Sponsoring festivals promotional displays in community, in the department store or in the supermarket Bankrolling concert tours What is “USP”? USP: Unique selling proposition features and benefits “4Cs” Customer Communication Convenience Cost Customer What do customers need? What do customers want? Communication How to communicate with customers? AIDA AIDA How to attract the attention of potential customers? How to arouse interest in the product? How to create a desire for its benefits? How to encourage customers to take prompt action? Convenience In which channel of distribution can the customers get what they want? Cost How to make the marketing cost-effective? “4Ps”& “4Cs” “4Ps”: “4Cs”: Product-oriented Customer-oriented Part Two How is a product marketed? In this part, you’ll Review the concept of the “4Ps” and “4Cs” of marketing. Look at some familiar products and how they are marketed Promote a product with what you learned about marketing McDonald’s Mcdonalds Hong Kong Homepage What kind of promotion that McDonald’s takes is the most impressive to you? Its TV commercial McDonald’s song All kinds of coupons Kids dancing and playing games in McDonald’s How do you think of its product? In which channel of distribution does it get its product to the customers? How do you think of its price? How about its promotion? Promotion involves: Packaging and Price lists presentation of the product Image Brand name Advertising and slogans Brochures Literature After-sales service and training Trade fair Public relations Publicity Personal selling Part Three A special task for a special day! Some questions you may follow: What is a good brand name for a moon cake? How to highlight the features and benefits of our moon cake? How shall we do advertising? How to attract customers? -- newspaper ads? -- a promotional display in the supermarket? -- coupon? THE END