THE FOUR P's OF MARKETING
Product: goods and services,
whether bottled water or car insurance. This ‘P’ includes a
product’s design and development, as well as its branding and
packaging.
Place (or distribution): where a
product or service is offered for sale, and how it gets there. This is
how the product gets moved from the producer to the consumer.
Price: at what charge the
product/service is offered for sale.
Promotion: this how you let the
consumers know about your product for sale. This is done through
advertising, personal selling, sales promotions, direct marketing, and
publicity.
FOUR C’s OF CONSUMER-SIDE MARKETING
Customer Value: 'product'
benefits from the buyers point of view.
Cost to the Customer: 'price'
plus the customer's costs such as travel, shipping
Convenience for the buyer: how
easy is it to complete a transaction?
Communication: a two-way
dialogue -- not just one-way 'promotion'
TARGETING AND POSITIONING
Positioning includes:
Differentiation from Competitors:
how different are you from everybody else?
Value Proposition: what value
do you have to offer?
Product Dimensions: just what
all does your product do?
Targeting includes:
Who are you positioning your
product for?
Segmentation: the key
demographics you hope to reach
KEY TARGET MARKET DEMOGRAPHICS
- Gender
- Age
- Income
- Education
- Location
- Marital Status
- Culture
BRANDING
A brand is any name, term, sign,
symbol, or design intended to differentiate the goods or services of
one seller from those of another. An important aim of branding is to
create a relationship with your customers, so their life feels more
complete because you’re in it.
Just
a dozen or so terms and concepts get to the very heart of
marketing. If you can wrap your mind and mouth around the
basics, you'll be able to better hold your own in meetings where
colleagues may try to score points with their own mastery of the
lingo.