TOPIC 2: MARKETING
Marketing Strategies
• market segmentation, product/service differentiation and positioning
• products - goods and/or services
- branding
- packaging
• price including pricing methods - cost, market, competition-based
- pricing strategies - skimming, penetration, loss leaders, price points
- price and quality interaction
• promotion
- elements of the promotion mix - advertising, personal selling and relationship marketing, sales promotions, publicity and public relations
- the communication process - opinion leaders, word of mouth
• place/distribution
- distribution channels
- channel choice - intensive, selective, exclusive
- physical distribution issues - transport, warehousing, inventory
• people, processes and physical evidence
• e-marketing
• global marketing
- global branding
- standardisation
- customisation
- global pricing
- competitive positioning
• products - goods and/or services
- branding
- packaging
• price including pricing methods - cost, market, competition-based
- pricing strategies - skimming, penetration, loss leaders, price points
- price and quality interaction
• promotion
- elements of the promotion mix - advertising, personal selling and relationship marketing, sales promotions, publicity and public relations
- the communication process - opinion leaders, word of mouth
• place/distribution
- distribution channels
- channel choice - intensive, selective, exclusive
- physical distribution issues - transport, warehousing, inventory
• people, processes and physical evidence
• e-marketing
• global marketing
- global branding
- standardisation
- customisation
- global pricing
- competitive positioning
Market segmentation
- the hyperlinked worksheet provides an overview of how market segmentation links to market research and target markets.
- See this biz/ed (no longer exists) PowerPoint of The Marketing Mix.
The 7 Ps
The Extended Marketing Mix (7 Ps) - tutor2u
Products
- Marketing products versus marketing services: Read this article from Chron
- Branding: Read the Chron article Definition of Product Branding Strategy
- Packaging: Read the Business 2 Community article Packaging Can Make or Break Your Marketing Strategy
Read through Tutor2u's slideshow (requires flash) and complete the form below (you will need to scroll for all questions):
Price
TASK: Investigate on the Internet for definitions of the following terms:
Complete the Worksheet.
- Cost based pricing (aka mark-up pricing)
- Market-based pricing
- Competition-based pricing
- Price skimming
- Price penetration
- Loss leader
- Price points
Complete the Worksheet.
Promotion
People, processes and physical evidence
TASK: Read about the service marketing mix and describe a service you have experienced in terms of its people, processes and physical evidence (eg restaurant, hotel).
E-marketing
TASK:
Pic source: http://www.flickr.com/photos/safari_vacation/8066994147/
- Choose a hypothetical service-based business
- Create an overall e-marketing strategy
- Design marketing strategies in the following areas, justifying why they are appropriate for your business: website, social media, online shopping, Email/SMS, any other appropriate e-marketing strategy.
Pic source: http://www.flickr.com/photos/safari_vacation/8066994147/
Global marketing
- Global branding - see Chron's article The Advantages of Global Branding and Advertising
- Standardisation
- Customisation - see Chron's article Adaptation Marketing Strategy (adaptation is the more current term for customisation)
- Global pricing
- Competitive positioning - see Global Brand Power: Experiential Positioning of a Brand (customer THINK)
McDonald's Global and Local Strategy