The 4 Ps Video
What do People Want?
Researchers use many types of quantitative
& qualitative approaches throughout the life
of a product (brain scans, consumer
interviews, focus groups, and even hidden
cameras) to define the size and
characteristics of a market and create
marketing strategies.
Marketing is everything sellers do to place
their product or service in the hands of
potential customers. They use the 4 or 5Ps
including branding and positioning
strategies.
Primary Market Types
When a company plans to market a product,
it must decide whether to focus on a mass,
secondary supplier or niche market.
The Consumer’s Role
Consumers are central to the process-so
people might even be called: The fifth "P".
Whether focused on the product, price,
place, or promotion, successful marketing
strategies center on consumer beliefs.
Product
A product is anything that can be offered to
satisfy a market's want or need. Successful
companies consider the product's form,
functionality, features and benefits from the
consumers' point of view.
3M CORP CASE STUDY
Price, refers to the amount of money
charged for a product or service. Profits go
to those who charge the right price. A
company must ask many questions about the
marketplace: How much is charged by the
product's direct competitors? How should
the price compare to similar products of
different sizes and varieties? How much is
the customer willing to pay?
Layered Pricing
Luxury Pricing
Price Skimming
Market penetration pricing
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The 4 Ps Video
Place
The third "P" of the marketing mix is place,
which refers to how a product gets to the
people who will buy it; the “distribution
strategy.” • Direct, • Indirect,
DELL COMPUTER CASE STUDY
Promotion
The marketing strategy that includes
advertising, selling, public relations, trade
shows, direct mail, sales and other
communication techniques--even the
messages on packaging.
CHARMIN CASE STUDY
Focus on technology
From the ads created for radio commercials
a century ago to the virtual stores in online
worlds today. Hewlett-Packard's online
contest - IBM's replica of one of its
Research Centers, and Coldwell Banker.
Text messaging and video replaces mass
marketing with niche marketing. Ad
campaigns sometimes combine Web data
with location information so people get cell
messages when they are near a certain store.
Purchases are more convenient & makes the
advertising more personal--and therefore
more powerful. Of course, it may also be
perceived as intrusive or excessive.
Positioning
A strategy that attempts to define how
people perceive a product. It refers to a
buyer's beliefs and feelings about the
product when comparing it to similar
products. The marketing of these products-from where you find them at the store to
how much they cost and what their package
says, helps you to draw those connections.
SUNKIST CASE STUDY
STARBUCKS EXAMPLE
Brand
That symbolic expression of all the
information and expectations that people
associate with a specific product or service.
It is a promise of what kind of product,
price, and place to expect. A brand is to a
product what personality is to a human.
PORSCHE CASE STUDY
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