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Marketing MK, Unit 12 Marketing Getting the right goods to the right people, in the right place, at the right time, with the right level of communications profitably. Chartered Institute of Marketing The aim of marketing is to make selling unncessary. Peter Drucker Read the text on p. 71 (RB) and explain these concepts. 1. 2. 3. 4. 5. 6. 7. 8. Marketing concept v. selling concept Market segmentation Market research Target market Market opportunities Product concept Marketing mix Consumer markets v. producer markets Market segmentation is identifying groups of potential customers with similar needs, wants and behaviour. Unscramble the definition and decide what term is defined here consumers aims which group of company at products and services. A specific its SOLUTION A specific group of consumers at which a company aims its products and services. Target market What is the target market for these products? What is the target market for these products? Market opportunities 1. 2. Creating demand for a new product Satisfying the needs of consumers a) 1,75 litre milk bottle b) Mobile phone for children under 6 The marketing mix What is the marketing mix? What falls under each P? When is the marketing mix well set? Watch and take notes: https://www.youtube.com/watch?v=JIirzTdae y4 The marketing mix: Make 4 groups Product, Price, Place, Promotion logistics, payment plans, personal selling, item/service, retail price, variety, distribution channels, bonuses, sales promotion, quality, brand, sponsorship, delivery, design, discounts, package, credit terms, retail locations, advertising, public relations (PR) The marketing mix: the 4 groups Product •item/service •variety •quality •brand •design •package Price •retail price •bonuses •discounts •payment plans •credit terms Place •distribution channels •delivery •retail locations •logistics Promotion •advertising •personal selling •sales promotion •PR •sponsorship Change the marketing mix to increase sales 1. 2. 3. 4. Your attractively priced, good quality diving gear doesn’t sell well despite all your advertising efforts. Your main outlets are in Osijek and Zagreb. Your company launched a new parfume intended for the up-market consumer. Its price competes with Rexona. You opened a new restaurant in your home town and decided to advertise it in Vjesnik. You feel that the packaging of your after-shave line doesn’t stand out enough against the other products on the shelves.