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Hi everyone. Let me introduce myself.
I’m Tung from FTU.
Today I’m going to talk about Marketing
You might be asking yourself several questions at this point.
What exactly is marketing?
Is marketing art or science?
Hopefully I can help shed some light on this point
through my presentation.
Marketing is everything involved in
creating, communicating, and delivering value
to customers, clients, and even society.
Marketing is involved in everything from the market research
that goes into determining
what products consumers are looking for,
to transmitte the message to inform them about a product
and even persuade them to purchase it.
In between those stages,
marketing also plays a prominent role in determining
how the product should look,
designing the packaging that will enclose the product,
deciding whether to sell the product
through traditional retailers or entirely online,
and establishing a price point
that is not only attractive to consumers
but also gives the business the opportunity to be profitable.
So how do businesses
create, communicate, and deliver value to its customers?
Although there are many variables at work,
a business can increase the probability of success
by an effective and consistent marketing mix.
Often referred to as the 4 P's,
the marketing mix is a collection of four elements
that outline the strategy for
how a business to reach its customers.
Marketing Mix includes product, promotion, place and price.
The product includes the tangible product and intangible service
that will be used to fulfill a customer need or want.
The features of a product, its physical form,
packaging, warranties, and even after-sale service
are all included under the strategy of product.
Place includes how a business intends to get products
from the location they are produced
to where they can be consumed by consumers.
However, place not only includes
the physical distribution of the product
but also the channel through which it will be sold.
Promotion involves establishing the most effective method
for communicating with its customers
about the various products that business sells.
Promotion is primarily meant to
communicate, inform, and persuade.
An effective promotion strategy,
like the other marketing mix elements,
depends upon a knowledge of busness about its target customer.
This knowledge allows a business to select the best way
to communicate with its core audience
and increase the success of its communications.
The last element of the marketing mix is price.
Price is the easiest marketing mix element to alter
from a technical sense,
but it is the most difficult thing to change.
The reason is that altering the price
affects what consumers pay for that product,
and a business can only charge as much as
the market is willing to pay for a product.
Technically a business can change whatever price it wants,
but that does not mean that consumers have to pay that price.
The marketing mix can help you decide
how to take a new offer to market.
It can also be used to test your existing strategy.
To get success in marketing, you can follow these steps
I have a slide here that shows an example about very successful brand
when using Marketing mix. Let’s see.
Remember,
The most important thing when businesses uses marketing mix
is to be consistent.
Each element should compliment the other
and communicate a consistent unified message about the brand.
Advertising a brand, a product as high-end,
but selling it through a discount retailer
can ultimately hurt a brand and jeopardize sales.
In conclusion, I’d like to tell you that
"The more you learn, the more you earn"
So to get success in business, in marketing,
keep trying hard every day and create your own Marketing plan.
It maybe 7P’s.
Product, Promotion, Place, Price,
Process, People and Physical Evidence.
What more can I say?