Jour 2000 April 3 2014 Dr Broyles A little bitty bit of marketing There are a lot of things that go into marketing Packaged Goods Durable Goods Packaged Goods are goods that are packaged Cereal Candy Coca Cola Kraft food Durable goods are creatively named they are goods that are durable Washer and Dryer Stove Refrigerator Furniture car comforter on your bed soft durable Services Things that we do for people Netflix Restaurants airplanes Ideas B2B Business to Business Don t mess with Texas This is marketed towards Texas The 4P s 1P Product o House of Pies They have pie ovens and someone has to sell them to pie places This is business to business because a company has to make a specific type of oven to sell to this specific business o Pharmaceutical companies selling to Doctors o There are a lot of products that we can advertise All the goods described above are products that can be advertised You have to give your product a benefit If a product doesn t have a benefit then you will never sell anything o Products can have brand equity and that is how important a brand is to you don t have reduced fat I will not buy peanut butter that day and will wait until I can find it Example Coke vs Pepsi Price o Margin selling price cost of good o Cheapest isn t always what you buy Ex iPhone It s not the cheapest but people still want it o Sometimes a high price will actually bring more people in Syphony that is higher priced will get more people and people tend to enjoy it better Place them Promotion o Companies will pay for spots on the shelves so that people will see Cereal is placed lower so that kids will see them o This is what we do o Trade shows sales promotions All together we call this MARCOM Marketing communications IMC Integrated marketing communications Fifth P People o Generally this is the consumer o Starbucks Barista s are good ambassadors to the brand the are basically coffee magicians Starbucks gives benefits to part time workers and tuition waivers which means they really know who is working for them primarily young people who need money Putting the P s Together When you put all of these things together you get what s called a marketing mix Strategy Marketing Department Director of Marketing aka CMO Advertising Director In charge of advertising for the brand The bigger the company the more important the job Category Manager Tends to be someone older probably thirties and is charge of nurturing and growing the brand Brand Manager In charge of managing brands Their respsonsibility involves a lot of the 4 P s Brand Assistant Works closely with the brand manager Sales Promotion Specialist Market Research They are in charge of figuring out the consumer s attitude how the brand is used who is using them etc The Marketing Process Implementation Planning Evaluation It s as easy as Pie