Marketing and advertising

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angličtina

 

Otázka: Marketing and advertising

Jazyk: Angličtina

Přidal(a): Jan Lapuník

 

 

We can divide marketing into 4 parts:

  • 1) marketing
  • 2) market research
  • 3) marketing mix – tools of marketing
  • 4) marketing department in the company

 

What is marketing? Marketing is

  • A wide range of activities to sell products, satisfy customer and make a profit
  • The sum of activities involved in directing the flow of goods and services from producers to consumers
  • In recent years marketing has become a driving force in most companies
  • Its principal function is to promote and facilitate Exchange of products and services with other parties
  • Marketing is connected with both a profit-oriented business and non-profit institution (hospital, school,..)

 

Marketing concept:

  • We put the customer first
  • We must produce what people want, not what we want to produce

 

Market research

  • We must find out what the customer wants and then we can carry out Market research.
  • We must collect, study and use data on the market for our product (or service)
  • Focus on population
    • Statistics on the population and their habits
    • Customer’s point of view
    • We can ask or give them questionnaires
  • Focus on goods
    • We give questionnaires about quality, price and packing of good
  • Focus on competition

 

Marketing mix – tools of marketing

Marketing mix consists of

  • PRODUCT
  • PRICE
  • PLACE
  • PROMOTION

 

PRODUCT

  • Product is the goods or service
  • Product includes design, quality, reliability, packing of goods, after-sales services

 

Product has a life cycle

  • Introduction
    • Typical for introduction is expensive advertising and promotional campaign.
    • Companies get large investments to cover the costs of developing the products.
  • Growth
    • Competition of product increases
    • Pressure to maintain large promotion and reduce the prices.
  • Maturity
    • Slight decline is starting
    • It is the longest phase in the life cycle of product.
    • The key to success is to stimulate consumption of the existing product by making some improvement advertisement
  • Decline
    • It is time when sales and profit begin to slip away
    • Companies are continually developing new products to replace products whose sales are declining.

 

PRICE

  • Pricing takes account of (bere v úvahu)
    • The value of the products
    • Its quality
    • The ability of the customer to pay
    • The prices charged by the competition
  • Too low prices can reduce sales as well as too high prices.
  • A low price may increase but not as profitably as fixing a higher, still popular price.
    • Discount pricing = offering a reduction on price
    • Quantity discount = discount offered to buyers of large quantities
  • VAT = shopkeepers have to add value added tax on the selling price

 

PLACE

  • =distribution
  • Distribution is getting the product from the producer to the customer
  • We have two channels of distribution
    • First channel is direct – product gets from the producer to the customer or retailer (retail can be hypermarket, supermarket, discount shops) without intermediary
    • Second channel is indirect – product gets through the intermediary (wholesale = velkoobchod)

 

PROMOTION

  • Promotion is presenting the product to the customer
  • Promotion can be divided to 4 points
  • 1. Sales force (prodavači)
    • It’s the most expensive means of promotion, because Sales force require income
    • The less expensive methods are direct mail and telemarketing
  • 2. Sales promotion
    • While advertising present a reason to buy a product, sales promotion offers short-term incentive to purchase
      • Sales promotion can be for customers – for example coupon, bonus, brochures, competition, discounts or hire purchase
      • Sales promotion can be for businessmen too – for example price advantages, fairs (trhy), exhibitions or training (kurzy)
  • 3. Advertising
    • Advertising can be print (newspaper, magazines, billboard) or can be broadcast (TV, radio).
    • Rules of advertisement
    • Truthful
    • impressive
    • Efficient
    • We can make the advertisement more effective:
      • The longer advertisement is the more effective it is
      • We should be surprised with the story
      • Emotional elements can be humour, love, pain, beauty etc.
      • Early identification of the brand of the goods
  • 4. Publicity
    • Publicity is the relationship among an organization and the public.
    • It’s explaining to the public what an organization does.
    • Publicity isn’t paid by the producer (unlike advertisement).
    • Public relation is a part of publicity

 

Marketing department in the company

  • Every big company has its Marketing Department. The employees of Marketing Department must have a clear idea of:
    • What the customer need
    • What the customer want
    • What makes them buy the product
  • Job description of marketing specialists:
    • Research what the customer want to buy
    • They use the research to design new products and services
    • They set the right price
    • They handle transportation, storage and distribution
    • They are responsible for advertising, promotion, publicity and personal selling


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