MKTG 301 2 2 15 First exam on the 23 Extra credit assignment coming up next week 1 2 3 4 5 6 7 8 Product Distribution Pricing Promotion 1 Advertising 2 personal selling 3 sales promotion 4 Public relations Any organization is a collection of di erent publics groups that give you support Publics Employees customers crowd sourcing financial publics stock holders lenders community viable force in the community suppliers channel members regulatory news media industry trade professional associations PR Methods Publicity Publicity is free THERE IS SUCH A THING AS BAD PUBLICITY Institutional advertising Ex NFL domestic violence PSA Lobbying meeting with government o cials for support Publications magazines news letters videos etc Tours Open houses Speakers bureaus volunteering for large settings to represent company to publics Community involvement Other Promotion methods Permanent Media logos and signage Product placement Packaging What does it communicate Word of mouth Buzz marketing Value a market perception that exchange bennefits are greater than costs Quality a market perception of performance on most important attributes Satisfaction a market perception that performance is greater than or equal to expectations Marketing Concept 1 Market definition of the business You want a market definition rather than a product definition What are the market needs we re trying to satisfy vs What is the product that we sell Focus on consumer needs rather than selling a product Mission statements How does your company define your business Practice target marketing market segmentation Don t be all things to all marketers be special in certain segments 1 Demographic characteristics population Age gender ethnicity income occupation education level social class marital status family size family life cycle 2 Geographic climate factors terrain urban vs suburban vs rural buying power index BPI of natl population in area natl income natl retail sales looking for people with money who spend it Geographic subculture PRISM Potential Ratings Indicated by ZIP Markets 3 Psychogeographic Values Lifestyles Personality Traits EX Beer drinkers VALS Values and Lifestyles 4 Volume of use Heavy medium light non users and ex users