1. Marketing Environment
Marketing Policies & Strategies
Class # 3
The 4 P’s
&
Marketing Environment

2. Marketing Policies & Strategies
INTRO…
Strategic Decision Making …the 4p’s & your Marketing Environment
Marketing Managers receive or develop goals/objectives for their Marketing Organization.
Next, once Marketing Managers “have” approved goals/objectives …they need to strategically know what to do with these goals/objectives in order to accomplish them.
Internal/External research methods …SECONDARY and PRIMARY research methods …strategic frameworks …help Marketing Managers understand what’s happening with their businesses, consumers, target markets, economy, and industries
This analysis disciplines them to “pour” what they’ve learned into their 4P’s to create a comprehensive STRATEGIC plan …to help them achieve goals/objectives
Marketing Environment…Internal and External forces that affect your business. Not as detailed as Porter’s 5-Forces, but detailed nonetheless.
2 concepts
4P’s …Product, Price, Place, Promotions
Marketing Environment …6 Elements

3. Marketing Policies & Strategies
The 4p’s
Product:
Features/Benefits
Features tend to be tangible …Flavor, High Quality, etc
Benefits tend to be emotional …Happiness, Satisfaction, Confidence, Validation, Security, Belongingness, Connectedness 20

4. Marketing Policies & Strategies
Price:
Level of Price: Low/medium/high?
Quality of Product: Good/Better/Best?
Does level of Price and quality of Product match?
Place:
Where sold?

5. Marketing Policies & Strategies
The 4p’s
Promotions:
Awareness, Interest, Trial, Action
Advertising
Manufacturer to Consumer
Coca Cola uses …TV, Print, Radio, Outdoors, Internet, Social Media, etc.
Promotions
Retailer to Consumer
Retailers name always in promotion
CVS Circular …BOGO, 20% of Crest Toothpaste 20

6. Marketing Environment
Do any of the following influence consumption of your company’s products?
Demographic:
Income
Age
Gender
Culture
Geographic
Family Structure
Lifestyle
Population

7. Marketing Environment
Do any of the following influence consumption of your company’s products?
Cultural:
Families
Community
Parents, schools, religion, businesses, government
Peers

8. Marketing Environment
Do any of the following influence consumption of your company’s products?
Economic:
Economy
Other factors that affect consumer purchasing power and spending patterns…tastes, trends, opinions, lifestyles

9. Marketing Environment
Do any of the following influence consumption of your company’s products?
Natural:
Natural resources …
Oil
Water
Trees
Natural Gas

10. Political Environment
Do any of the following influence consumption of your company’s products?
Political:
Laws
Regulations
Pressure Groups

11. Marketing Environment
Do any of the following influence consumption of your company’s products?
Technological:
Maturing technologies
New technologies.
That could create or inhibit consumption habits.

12. Marketing Policies & Strategies
Question #1
Slides 3-6…
You work in Senior Management for Your Brand/Co. Use slides 3-6 to …
Choose a Product from your Brand/Co. Then…
Note a Feature and Emotional Benefit of this Product Line.
Do Price and Quality match?
Note 3 examples of Place
Example of how your Brand/Co Advertises
Example of how your Brand/Co Promotes

13. Marketing Policies & Strategies
Question #2
Slides 6-11…
Please use these slides to complete -1 bullet point- from each of the 6 Elements of the Marketing Environment …for your Brand/Co.