Functions
Determining and adjusting prices to maximize return and meet customers’ perceptions of value
What is Pricing?
In marketing this is a plan of action
What is a Marketing Strategy?
Split customers
into groups
Develop market
strategies for
these groups
What is Target Marketing?
Account executive
Sales associate
Sales representative
Sales manager
What is Professional Selling?
Where to go and when to get there
Must know
where before
deciding how
Goal
determined
as a team
What is Establishing a goal?
Communicate information about goods/services/ideas to achieve a desired outcome
What is Promotion?
Product, Price, Place, Promotion
What is the Marketing Mix
Goal
Appeal to many types of customers through
one marketing plan
Upside
More cost
effective
Downside
Only works for some products
What is Mass Marketing?
Marketing specialist
Marketing manager
Marketing director
Marketing analyst
Brand/Product manager
What is Marketing Manager Pathway?
the amount of money a business asks for in exchange for its products
What is Price
Creating strategies to attract the target customer to a business
What is Market Planning?
Grows the economy
Provides goods and services
Creates jobs
Improves quality of living
Increases international trade
Creates consumer choices
What are the benefits of Marketing?
Marketers target a specific, well-defined group
of customers.
Has become a
very common
practice
What is Market Segmentation?
Market analyst
Product analyst
Market research analyst
Marketing operations manager
What is Marketing Research Pathway?
selling
What is the ultimate goal of marketing?
Identifying, selecting, monitoring, and evaluating sales channels
What is Channel Management?
7
Demographic
Geographic
Psychographic
Behavioral
What are Types of Market Segmentation?
Buyer
Purchaser
Director of merchandising
What is the Merchandising Pathway?
to generate a positive response from customers that leads them to buy the product.
What is Promotion?
Obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities
What is Product/Service Management?
What two companies did we watch videos about?
Rate of use
Benefits derived
Loyalty response
Occasion response
What are types of Behavioral Segmentation?
Advertising
Copywriter, art director, creative director, account executive
Direct marketing
Public relations
Publicist, press secretary, communications specialist, marketing/product communications
Digital marketing
Content strategist, web marketer, digital marketing specialist, online marketing manager
What is the Marketing Communications Pathway?
specific, short-term actions that are used to carry out strategie
What are tactics?