Price What we end up paying Price is important income pays for expenses – Promotions may include price drops to attract initial interest Value is what you get for what you pay For example, an expensive product lasts longer, cheaper product more prone to breakage Week 7 The Marketing Mix (4 P’s) - Promotion – Aspects of marketing / customer communications Many aspects including: Public Relations Signage Advertising Uniforms Packaging Direct mail Promotion Personal selling Telemarketing Internet of Sale Social media Brand values Image and positioning Integrated market communication Co-ordinating all aspects in a consistent manner Integrating them with the other marketing activities A team effort, not just individual ideas Greater synergy = greater effectiveness Integrated customer communication As above, but including: Word of mouth Product Price Place (location of store) People Physical (store layout) Process Say-do triangle Changing customer communications paradigm Communication used to be purely one way company to customer (planned messages) – Now it is many ways company to customer, customer to company, customer to customer – Many more unplanned messages brand is no longer what we tell the consumer it is. It’s what consumers tell each “A other it is” Scott Cook. –
Price What we end up paying Price is important – income pays for expenses Promotions may include price drops to attract initial interest Value is what you get for what you pay For example, an expensive product lasts longer, cheaper product more prone to breakage Week 7 – The Marketing Mix (4 P’s) - Promotion Aspects of marketing / customer communications Many aspects including: Public Relations Advertising Packaging Promotion Telemarketing of Sale Brand values Signage Uniforms Direct mail Personal selling Internet Social media Image and positioning Integrated market communication Co-ordinating all aspects in a consistent manner Integrating them with the other marketing activities A team effort, not just individual ideas Greater synergy = greater effectiveness Integrated customer communication As above, but including: Word of mouth Product Price Place (location of store) People Physical (store layout) Process Say-do triangle Changing customer communications paradigm Communication used to be purely one way – company to customer (planned messages) Now it is many ways – company to customer, customer to company, customer to customer Many more unplanned messages “A brand is no longer what we tell the consumer it is. It’s what consumers tell each other it is” – Scott Cook.
business102_notes.docx