Professional Documents
Culture Documents
How To Do Marketing: Marketing Strategies
How To Do Marketing: Marketing Strategies
N
z Principles of Marketing I
How to do Marketing:
Marketing Strategies T
6
z
Approaches to Marketing
Theories and
Concepts
z
Traditional Approaches
Traditional Marketing involvesthe marketing mix of
McCarthy (1928), as cited by Villet(2013): product,
price, place, and promotion. It focuses on identifying
the right customer and understanding their attitudes,
behaviors, and motivations to encourages
purchase(Villet,2013).
4Ps 4Cs
Product Customer’s needs
Price Customer’s Cost
Place Customer
Convinience
Promotion Communication to
customer
z
Contemporary Approaches
1. Remodeled Marketing Mix
AWARENESS
INTEREST
DESIRE
ACTION
z
Base P: Product
A product is anything that can be offered to a market that
can satisfy a need. Products may tangible or intangible.
Ideas
Services
. Experiences
z
To address the intangibility, it is necessary to add
tangible components to ideas, services and
experiences.
Product Level
Augmented
Actual Product
Core
z
Unsought Goods
These are products not usually searched for
by consumers. Thus, it will be more difficult to
identify consumers of these products.
z
Products Mix
Product Mix is defined as the total assortment
of products a company sells.
Beverages, Breakfast Cereals, Chilled Dairy, Coffee and
creamer creations, confectionery, Dairy, health, and nutrion
solution, foods, healthcare nutrition, ice cream, infant
nutrition, liquid beverages and dairy culinary.
z
Four Dimension of Product
Mix
Width
Width is defined as the number of product lines that a
company offers. The example above shows that there are
eleven product lines offer.
Length
Lenght is defined as the number of different product in
a product line
z
Depth
Depth is defined as the different variations of a
product. For example, a detergent soap manufacturing
company may have two variation for detergent soap:
powder and soap
Consistency
Consistency is defined as how closely related the
product are in terms of product, pricing and distribution.
z
BCG MATRIX
The Boston Consulting Group (BCG)
matrix, adopted from Henderson’s Product
Portfolio in 1970, is relevant for a company
whose objective relates to market share and
industry growth rate.
Four Classification
Dogs
Cows
Question Mark
Molecular Gastronomy
Cuisine
Introduction
Technology
Growth
Applications
Detergent
Maturity
Typewriters
Decline
z
Introduction Stage: Molecular Gastronomy Cuisine is
defined as the recipes that blends physics and chemistry
to transform the tastes and textures of foods. This is a new
and innovative products that is in the introductionstage of
the PLC.
Pricing
Pricing is defined as the cost of the
product that indicates its value tthe
amount of money that the consumer
pays to own product.
z
Factors to consider when Pricing
Competition
i. Cost plus pricing is a pricing a product by first determining the cost and then
adding a mark up. The equation will look like this.
Let us apply this equation to an example. Let us say you want to bake
and sell sugar cookies. You first consider your cost. Your variable will
include.
z
1. Market Segments.
2. Different Location
3. Different Time
z
C. Phsychological Pricing
Reference Pricing
E. Geographical Pricing
This is pricing based on geographic
Location. Examples gasoline prices in Manila
are different from the prices in the province.
z
Place
Place refers to the location where the product can be
bought. Place decisions are associated with distribution
channels. Distribution Channels are needed to get products
to consumers. Functions of a distribution channel includes .
Consumer
Manufacturer
(End User)
DIRECT DISTRIBUTION
Indirect Distribution
z
Manufact Wholesal
urer er
Customer
(End Retailer
User)
z
Intermediaries
Wholesaler
Retailers
Promotion
Promotion refers to communicating the base P
(product) and the other support Ps (price and place)
to encourage a sale.
Direct Marketing