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Published byWilfrid Burns Modified over 7 years ago
The strategies used to advertise your business / service to attract customers and prosper as a company. Putting the right product in the right place, at the right price, at the right time.
A model of marketing (advertising) Used to determine who the customer is and what they need / want therefore increasing business by providing a service that is desired.
Tangible, physical products as well as services Brand Name Functionality Style Quality Safety Packaging Repairs and Support Warranty Accessories and Services
What does the customer want from the product/service? What features does it have to meet these needs? › Are there any features you've missed out? › Are you including costly features that the customer won't actually use? What does it look like? How will customers experience it? What is it to be called? How is it branded? How is it different than the competitors? What is the most it can cost to provide, and still be sold at a decent profit? Tangible, physical products as well as services
Determining the value of the product to the customer. Pricing Strategy Suggested Retail Price Volume Discounts and Wholesale Cash and early payment discounts Seasonal Pricing Bundling Price Flexibility
Determining the value of the product to the customer. What is the value of the product or service to the buyer? Are there established price points for products or services in this area? Is the customer price sensitive? Will a small decrease in price gain you extra market share? Or will a small increase be indiscernible, and so gain you extra profit margin? What discounts should be offered to trade customers, or to other specific segments of your market? How will your price compare with your competitors?
Getting the product to the customer. Distribution Channels Market Coverage (inclusive, exclusive or selective) Specific Channel Members Inventory Management Warehousing Distribution Centers Order Processing Transportation
Getting the product to the customer. Where do buyers look for your product or service? If they look in a store, what kind? A specialist boutique or in a supermarket, or both? Or online? Or direct, via a catalogue? How can you access the right distribution channels? Do you need to use a sales force? Attend trade fairs? Make online submissions? Send samples to catalogue companies? What do you competitors do, and how can you learn from that and/or differentiate?
Communicating about the product with the goal of generating a positive customer response (i.e. Sale) Strategy (push /pull) Advertising Sales Force Sales promotions Public Relations and Publicity Marketing Communications
Communicating about the product with the goal of generating a positive customer response (i.e. Sale) Where and when can you get across your marketing messages to your target market? Will you reach your audience by advertising in the press? TV? Radio? Billboards? Mail-outs? PR? The Internet? When is the best time to promote? Is there seasonality in the market? Are there any wider environmental issues that suggest or dictate the timing of your market launch, or the timing of subsequent promotions? How do your competitors do their promotions? How does that influence your choice of promotional activity?
Apple unveils its new product, the iPad. Tablet pc's have been around for a long time, what makes the iPad different from the other market offerings? What strategy does Apple have in place in order to make this a runaway hit like its iPhone and iPod product lines? We'll use the marketing mix(4 P's) to see how Apple strategized its goal to make the iPad a bestseller.
Looks like a bigger iPhone or iPod Touch Possess a LED touch screen interface. It’s small: 9.56 in x 7.47 in. It is very thin Battery life: ten hours. 3G capability. Ability to surf the internet, listen and purchase music, watch videos, view photos, read e-mail, read and purchase e-books and execute multiple applications. Is fully compatible with the iPhone. Different versions: 16 gb, 32 gb, and 64 gb. Wi-fi and wireless-n capable. Latest bluetooth profile On-screen keyboard for inputs.
The base model (16gb) without 3g capability is the cheapest at $499, 32gb at $599 64gb $699. 3g capability= extra $130 Option to sign up for AT&T data plan. Apple is known for charging higher, premium prices however, they usually offer $100 off certain products to college students. They also do special bundles for purchasing certain products during different times of the year. Purchase a Macbook Pro get a free iPod, printer plus the $100 student discount
Sold in place where other Apple products are sold. There are multiple Apple stores across the United States and Canada. Customers can also order the product online in Apple's website. Best Buy Amazon
Apple held a press conference to debut the product. Several of the major techblogs and websites (zdnet, gizmodo, engadget) also covered the event. The iPad was highlighted on the front page of Apple website and the hour long keynote by Steve Jobs regarding the iPad is also available on the website. Upon its’ release date their had not been a tv commercial for the iPad.
For the following ad, identify the 4 P’s…
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