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© 2012 McGraw-Hill Ryerson Ltd. Suunto t-Series Training Pack 0 LO 1
© 2012 McGraw-Hill Ryerson Ltd. Suunto – The Marketing Concept in Action Product: based on the wants and needs of different consumer groups Pricing: in line with consumer, company and competitive factors Place: retail locations reflect premium image and sports category Promotion: use sponsorships, brand ambassadors, social media and internet activities (instead of mass media promotions) 1 LO 1
© 2012 McGraw-Hill Ryerson Ltd. The Customer is Central 2 LO 1
© 2012 McGraw-Hill Ryerson Ltd. The Essence of Marketing 3 Satisfying consumers and providing them with value through products and services that meet their needs. “… delight consumers and encourage customer loyalty.” LO 1
© 2012 McGraw-Hill Ryerson Ltd. Customer Value 4 Loyalty comes from providing added value: Product design Pricing strategies Service elements LO 1
© 2012 McGraw-Hill Ryerson Ltd. Marketers Need Focus 5 LO 1 A single product will not satisfy everyone. Marketers focus their efforts on the group most likely to purchase. The group Target market
© 2012 McGraw-Hill Ryerson Ltd. A Continuous Process 6 LO 1
© 2012 McGraw-Hill Ryerson Ltd. Key Points 7 Marketing is more than just advertising and selling. Marketers manage all the elements of the marketing mix. Marketers use research to support activities. Marketing creates exchanges between buyers and sellers. Profits are realized when needs are met and exchange takes place. LO 1
© 2012 McGraw-Hill Ryerson Ltd. What is a Market? MARKET (money and means to purchase) Parents with children ages 3-6 years TARGET MARKET (decision-makers and influencers) Parents and children CONSUMERS (users of the product) Children 8 LO 1
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