marketing essentials/i unit 1 what is marketing? the 5 p’s
TRANSCRIPT
The process of planning the product, executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy consumer wants and needs.
Planning PricingPlace
(Distribution)
Promotion People
MARKETING IS:
THE 5 P’S:MARKETING is a
PROCESS and involves the 5 P’s:
PLANNING the Product
PRICING PLACE
(Distribution) PROMOTION PEOPLE (The
Target Market)
Planning Pricing Place Promotion People
WHAT IS MARKETING?Definition: The process of developing, promoting, and distributing products in order to satisfy customer’s needs and wants.
MARKETING IS ALL AROUND US~S A L E S R E P R E S E N T A T I V ES
T E L E M A R K E T E R S
J U N K M A I L
V I D E O S , B R O C H U R E S
P R O D U C T P L A C E M E N T
N E T W O R K I N G
S I G N S
D I S P L A Y S
I N T E R N E T B A N N E R S
>Decisions a business must make.
>Depends on Target Market being clearly defined.___________________________
1)Product Planning- 1)Make a decision about the product.
2)Produce the Product.
2)Pricing- 1) To Sell (value)
2) To Make a Profit.
3) To be Competitive
3)Place (Distribution)- 1) Packaging
2) Storage
3) Shipping
4) Receiving (Inventory)(Con’t)
THE 5 P’S =THE MARKETING MIX
5 P’S/THE MARKETING MIX (CON’T)
4)Promotion- 1) Advertising
2) Publicity
3) Public Relations
4) Displays
5)People- 1) Consumers
2) Customers
_______________________________________________
What is the difference between a Consumer and a Customer?
WHAT IS MARKETED?
Durable Goods>Desks>Computers>4G phones
Places“Get Out There” (RCCL)
“Ski Washington.com”
“Go Hawaiian”
Organizations>WEA>NCAA>NFL
>The Red Cross
Ideas>”Litter and It Will Hurt”> “Buzzed Driving Is Drunk Driving
Nondurable Goods>Yogurt>Gasoline>Cosmetics
Services>Airline Travel>Banking>Wedding Planners
People>Athletes>Musicians>Ourselves
Goods:
The kinds of things that you can touch or hold in your hand;
TANGIBLES
Services:
The kinds of things that you can’t physically touch;
INTANGIBLES
PRODUCTS~INCLUDES IDEAS, GOODS, AND SERVICES, WHICH HAVE MONETARY VALUE AND SATISFY CUSTOMERS’ NEEDS AND WANTS.
Planning the Product
1) Make a decision about the product
2) Produce It
Pricing
1)To Make a Profit
2)To Be Competitive
3) To Sell (Value)
BREAKING DOWN THE 5 P’S (MARKETING MIX)
Promotion
1) Advertising
2) Publicity
3) Public Relations
4) Displays
People= The Target Market
1)Customers
2)Consumers
THE REST OF THE 5 P’S…