Unit 3 - Marketing

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Unit 3 - Marketing

what is a market

competition -market share -demographics -life style -creative advertising

selling 1. direct channels 2. indirect channels 3. specialty

promotion activity's 1. personal selling 2. sales promotion 3. public relations 4. advertising

4p's -product -price -place -promotion

product life cycle

phases 1. product launch 2. growth 3. maturity 4. decline 5. decision point

Types 1. phad 2. niche 3. traditional 4.extended phad 5. seasonal 6. revival 7. bust

brand management srategies push vs pull

Pull -manufacturer creates demand at consumer level eg. pepsi. - lots of advertising and promotion -word of mouth -customer relationship management

Push -manufacturer sells product to retailers - they offer special pricing - put shelf allowance -trade show promotion

Marketing Research

types of data 1.primary -test marketing -surveys -focus groups -internal information sources -observations 2. secondary -websites -data bases -magazines -indexes -professionally prepared research report

Types. 1. Consumer Research 2. Market Research, 3. Competitive Research, 4 Motivation Research 5. Product Research 6. Pricing Research 7. Advertising Research

branding

1. brand name 2. logo 3.trade mark 4.slogan 5. brand identification

why do company's use them -helps people remember business -increases company's image - shows the use of the product -universal image