marketing mix (7p's) of marketing in relations to the business opportunity pt. 2

fifth topic pt. 2

promotion

the fourth p in the marketing mix ; refers to the complete set of activities which communicate the product, brand or service to the user ; the idea is to create awareness, attract and induce the consumers to buy the product in preference over others

the promotional mix

1. advertising

2. public relations

3. personal selling

4. sales promotions

5. direct marketing

advertising

1. radio advertising

2. television

3. print

4. electronic

5. word of mouth

6. generic

radio advertising

means of radio gives the advantage of selecting the territory and audience to which the message is to be directed ; also cheaper than TV advertising

television

the latest and fastest-developing medium of advertising and is getting increased popularity these days; also more effective as compared to radio as it has the advantages of sound and sight

print

— media carry their messages entirely through the visual mode. these media consist of newspaper, magazines and direct mail

electronic

also advertise electronically through your company website and provide important and pertinent information to client and customers

word of mouth

it is important for every business, as each happy customer can steer dozens of new ones your way ; one of the most credible forms of advertising beacuse a person puts their reputation on the line every time they make a recommendation and that person has nothing to gain but the appreciation of those who are listening

generic

promotion of particular commodity is without reference to a specific producer, brand name or manufacturer ; these activities are often self-funded through assessments on marketing called check-off programs

public relations

articles that features your company is not paid for; the reporter whether broadcast or print, writes about or films your company as a result of information he or she received and researched

personal selling

occurs when an individual salesperson sells a product, service or solution to a client ; salespeople match the benefit of their offering to the specific selling involves the development of longstanding client relationship

five stage of personal selling process

1. prospecting

2. marketing first contact

3. the sales call

4. objection handling

5. closing the sale

sales promotions

any initiative undertaken by an organization to promote increase in sales usage or trial of a product or service

the sales promotions

1. free gifts

2. free samples

3. free trial

4. customer contests

5. special pricing

free gifts

there are many ways to utilize this particular sales promotion technique ; a newly opened store for example, may offer the first 10 customers free items worth 100 pesos

free samples

a technquies used to introduce new products to the marketplace

free trial

a way for consumer to try a new product while eliminationg risk; may be used when a product is unique to the marketplace

customer contests

offer the customer a chance to win prizes like cash or store merchandise

special pricing

used to offer consumers a lower price for a period of time or to purchase in multiple quantities ; for example, a retailer may offer a product that normally cost 35 pesos at a price of 3-for-100 pesos during the promotional period

direct marketing

a promotional method that involves presenting information about your company, product, or service to your target customer without the use of an advertising middleman; it is targeted form of marketing that presents information of potential interest to a consumer that has been determined to be a likely buyer

forms of digital marketing

• brochure

• newsletters

• coupons

• text messages

• catalogs

• emails

• fliers

• post cards

• phone calls

people

the fifth p in the marketing mix ; your teams, the staff that makes it happens for you, your audience, and your advertisers are the people in marketing ; consist of each person who is involved in the product or service whether directly or indirectly ; the ultimate marketing strategy ; they sell and push the product ; one of the most important elements of the marketing mix today

packaging

the sixth p in the marketing mix ; a silent hero in the marketing world ;refers to the outside appearance of a product and how it is presented to the customers ; should be attractive enough and cost-efficient for the customers ; highly functional; for protection, cotaniment, information, utility of use and promotion

5 basic functions of packaging

1. protection

2. containment

3. information

4. utility of use

5. promotion

protection

one of the major functions of packaging is to provide for the effects of time and environment for the natural and manufactured products ; function can be divided into some classes

protection classes

• natural deterioration

• physical protection

• safety

• waste reduction

natural deterioration

caused by the interaction of products with water, gases and fumes, microbiologic organism like bacteria, yeast and molds, heat, cold, dryness, contaminats and insects and rodents

physical protection

improving shock protections, internal product protection and reducing shock damage caused from vibration, snagging, friction and impact

safety

a special kind of protective packaging required for products that are deemed harmful to those who transport them or use them ; these products include extremely inflammable gas and liquid, radioactive elements, and toxic materials ; packaging should be done so children could not easily use or dispose them

waste reduction

packaging also serve to reduce the amount of waste especially in case of food distribution

containment

involves merging unit loads for shipping ; starts withs spots of adhesives on the individual shippers that stick them together, straps of steel and plastics, entire coverings of shrinkable or stretchable plastic films and paper or corrugated wraps ; these are some special bulk boxes or pallet bins made from unusually strong corrugated board or fabricated from plastics or metal which depends on the type and weight of product and its protective needs

information

packaging conveys neccessary information to the consumers; included general feautures of the product, ingredients, net weight of the contents, name and address of the manufactures, maximum retail price ; in medicine and some products it is required to provide the methods preparations, recipes and serving ideas, nutrional benefits and date of manufacturing, date of expiry, warning message and cautionary information

utility of use

convenience packaging has been devised for foods, household chemicals, drugs, adhesives, paints, cosmetics, paper goods and a host of other products; includes dispening devices, prepared hot meals, and siposable medical packaging

promotion

companies use attractive colors, logos, symbols, and captions to promote the product that can infleunce customer purchase decision

the packaging decisions

i. packaging concepts

ii. engineering tests

iii. visual test

iv. dealer test

v. consumer test

packaging concept

defines what the package should be or do for the particular product in terms of size, shape, materials, color, text, and brand mark and tamperproof ability

engineering test

will ensure that the package stands up under normal conditions

visual test

to ensure that the script is legible and colors are harmonious

dealer test

to ensure that the dealers find the packages attractive and easy to handle

consumer tests

to ensure favorable consumer response

positioning

the seventh p in the marketing mix ; refers to a process used by marketers to create an image in the minds of a target market ;

three basic concepts for positioning

1. functional positions

2. symbolic positions

3. experiential positions

functional positions

deals with solving problem, providing benefits and getting a favorable perception form inventors, stockholders and consumers

symbolic positions

deals with self-image enhancement, ego identification, belongingness, social meaningfulness and affective fulfilment

experiential positions

deals with providing sensory or cognitive stimulation

steps of the positioning process

1. confirm your understanding of market dynamics

2. identify your competitive advantages

3. choose competitive advantages that define your niche