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OC BMGMT 180 - Lecture Notes 1.12

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Promotion:Airbnb’s marketing strategies have increased its approach to the world and kindled the excitement and craze in the people to travel and host. It devised the various digital marketing strategies and helped itself get out of misery and failure of the pandemic and bloom to success with staycation properties in nearby accessible cities. From google ads, social media tags, to contest giveaways, Airbnb has boosted its bookings promoting attractions by endorsing and verifying covid-safety checks to tourists and travelers.People:Users of the app are both renters and bookies who are either looking to earn money renting outtheir space or those who are looking for places to rent. This includes students, graduates, couples, groups, families, working professionals, and executives. The demographic is wide and ranges from property managers to roommates, vacationers, and even backpackers. What is nice about Airbnb is that everything is handled between the renter and the rented, so it takes the middleman out and makes it easier to go directly to the owner of the property.Product: This is the item or service being sold to the consumer.Place: The location of the product or service being sold to the people. Example, online, store front, mail order etc.Price: Is the cost of the product or service to the consumer.Promotion: Is the type of marking being used by a company or organization to sell its product or services.People: The actual employees who come into direct contact with the customer during the transaction.The five Ps are important to add as a start to a business plan and also implemented as part of a long-term model for a business. For example, a business needs a product or service with a marketing plan to attract future and to maintain their current customer base. Maintain a price point which is competitive with the competition but also profitable for the business. A location which syncs with the shareholders and presents a positive image to the community. People make up the backbone of any organization, business will need a strategic plan which everyone understands and knows their place and purpose for the long term. you enjoy the LOWES service in your town, the location is great. prices are good and youreceive a 10% discount for being prior military. Products cover all areas from basic hardware to power tools fulfilling all your home improvement needs. The promotions for additional savings along with special services to include workshops and how two’s keeps me a loyal customer. Last, the employees are great with good service.The Five Ps of Marketing consist of: Product, Price, Promotion, Place, and People. Product consists of thegoods or services that are being provided to the consumer. Without a product, you cannot move forward to obtain the other P’s. Price is the rate used for the products and services produced for the consumer. There are other things to take into account with pricing like discounts that may be applied and for what purpose. Will the product be something that will accommodate payment arrangements or credit terms and will rain checks or price matching be honored? These will need to be decided before moving forward.Promotion is discovering how the business will be advertised. Deciding what public relation activities willbe conducted to promote the business in an adequate manner. Place indicates where the product is manufactured. This can be from the distribution site to the final product’s point of sale. Where the product is placed is based on the targeted consumer market for the product. Finally, People make up the associates, staff, or sales representatives who will strive to sell the product. This is a valuable part of the Five P’s because this can make or break the sale of the product. Do your sales associates believe in the product they are selling? Do they know enough about the product to sell it according to the sales model that has been established?you enjoy stopping at your local Dutch Bros. coffee shop on the way to work. you don’t have a particularfavorite flavor; you just love their coffee’s, and you love their employees. you feel as though their product is better tasting than their competitors' coffee's. Their cups aren’t as yuppy looking and they don’t require personalization. The price can be about the same as that other place, however Dutch Bros offers a really cool punch card for a free coffee and your local shop also offers a 10% military discount. They sell an array of branded items just like their competitor does. They do a lot of public relations activities and “Coffee for a Cause” donations. Although they don’t do any advertising on television, they do advertise on our local radio stations for some of their charitable donations and also on many social media platforms. Just today your daughter and you took advantage of their “Trick or Treat” drink #DBTrickorTreat from @dutchbroscoffee. When you pull up to place your order you say, “Trick or Treat” and they ask if you want a trick, or a treat, we asked for a treat. They then pick the drink for you. you are not sure the nameof the drink we received, but it had white chocolate and blended midnight (blackberry and pomegranate). It was amazing!Dutch Bros. has many different locations of small, franchise owned coffee shops in the Western United States. With the majority of these locations being drive thru only, they make for quick and convenient stops. Their double drive thru windows and employees willing to come to your car window to take orders help to speed the process along. Their employees are exceptional people. For me, customer service at any location has been worthy of a five-star rating every time. The employees are extremely friendly and actually appear to love their job and life for that matter. They always ask if you are having a good morning and wish me a great day before you drive away. There is something to be said about starting your day off with a smile and a greatcup of coffee. you know that you will get that at Dutch Rockoff. Product: what you are sellingPrice: how much it will costPromotion: who is going to promote the product Place: where the product is going to be soldPeople: what group of people it will be marketed towardsAll 5 of these marketing categories work together to really make sure a plan succeeds. You may have a great product, but if it is not properly marketed distributed and advertised, then it could fail before


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