Sunday, May 9, 2010

The sixth subject : What are the (4p’s) of marketing

1. PRODUCT
The business has to produce a product that people want to buy. They have to decide which ‘market segment’ they are aiming at – age, income, geographical location etc. They then have to differentiate their product so that it is slightly different from what is on offer at present so that people can be persuaded to ‘give them a try’.

2. PROMOTION
Customers have to be made aware of the product. The two main considerations are target market and cost. A new business will not be able to afford to advertise on national television, for instance and would not wish to because its market will be local to start with. Leaflets, billboards, advertisements in local newspapers, Yellow Pages and ‘word of mouth’ would be more appropriate.

3. PRICE
The price must be high enough to cover costs and make a profit but low enough to attract customers. There are a number of possible pricing strategies. The most commonly used are:

  • PENETRATION PRICING – charging a low price, possibly not quite covering costs, to gain a position in the market. This is quite popular with new businesses trying to get a ‘toehold’.
  • CREAMING – the opposite to penetration pricing, this involves charging a deliberately high price to persuade people that the product is of high quality. Luxury car makers often use this strategy
  • COST PLUS PRICING – this is the most common form of pricing. Costs are totaled and a margin is added on for profit to make the total price.

4. PLACE
The business must have a location that it can afford, and that is convenient and suitable for customers and any supplier.

The sixth subject : What are the (4p’s) of marketing

1. PRODUCT
The business has to produce a product that people want to buy. They have to decide which ‘market segment’ they are aiming at – age, income, geographical location etc. They then have to differentiate their product so that it is slightly different from what is on offer at present so that people can be persuaded to ‘give them a try’.

2. PROMOTION
Customers have to be made aware of the product. The two main considerations are target market and cost. A new business will not be able to afford to advertise on national television, for instance and would not wish to because its market will be local to start with. Leaflets, billboards, advertisements in local newspapers, Yellow Pages and ‘word of mouth’ would be more appropriate.

3. PRICE
The price must be high enough to cover costs and make a profit but low enough to attract customers. There are a number of possible pricing strategies. The most commonly used are:


  • PENETRATION PRICING – charging a low price, possibly not quite covering costs, to gain a position in the market. This is quite popular with new businesses trying to get a ‘toehold’.
  • CREAMING – the opposite to penetration pricing, this involves charging a deliberately high price to persuade people that the product is of high quality. Luxury car makers often use this strategy
  • COST PLUS PRICING – this is the most common form of pricing. Costs are totaled and a margin is added on for profit to make the total price.

4. PLACE
The business must have a location that it can afford, and that is convenient and suitable for customers and any supplier.

The fifth subject :What type of Jobs can a Marketing MAjor Get?

There are a lot of exciting career options for a business marketing major even beyond the obvious public relations (PR) or marketing positions. Marketing majors acquire the skills to research customer needs, identify trends, communicate with consumers, and develop outreach strategies to sell products or services. A market researcher may do more behind-the-scenes analysis of trends, noticing who’s buying and what they’re buying, and understanding how to communicate with consumers. Publicists generate excitement for the clients and products by creating buzz through press releases, special events, getting reviews or press in magazines, newspapers, Websites, and television. A marketing background can also be helpful for a career in advertising, where your work could include coming up with ad campaigns or logos or branding a product or service. Retail marketing is another fun career that includes determining what products to sell and how to promote them. Also with the growth in online retailers, there’s an increasing demand for savvy Web marketers.

So, those are just a few ideas, but don’t forget that almost any company has a need to spread the word about their services or products. If there’s a company or industry that is particularly interesting to you, like health care or nonprofits, education, fashion, music, or politics, chances are you’ll be able to find your niche marketing something that you enjoy or believe in!



http://www.seventeen.com/college-career/questions-answers/marketing-major

the fourth subject ; who is the marketer

Is one that sells goods or services in or to a market, especially one

that markets a specified commodity:

A person whose duties include the identification of the goods and services desired by a set of consumers, as well as the marketing of those goods and services on behalf of a company. See also advertising.Duties and responsibilities of marketer
1. Focus on the Customer
2. Monitor the Competition
3. Own the Brand.
4. Find & Direct Outside Vendors.
5. Create New Ideas.
6. Communicate Internally.
7. Manage a Budget.

8. Understand the ROI.
9. Set the Strategy, Plan the Attack, and Execute.