4 P's of Marketing/Strategies

Positioning

How is this product compared and thought of against its competitor's products/what is different or better about it?

Packaging

How the product is presented to the customer on the shelf. Involves design, natural resource use and advertising techniques.

Storage

How, where, for how long, in what quantities is your product is stored along its channel of distribution

Promotion

Various types of communications that marketers use to inform, persudae, or remind customers of their products/services.

Transportation

What methods of transportation are used to move product...air, ground, boat, etc

Specific Stores:

Where products will be sold. ..Will your product be sold in a variety of stores or limited to fewer exclusive stores?

Tactics

Specific plan of action for accomplishing strategies

Discounts

Reductions in price for a product--could be coupons, sales, buy one get one, etc.

Branding

A name, term, design, symbol or other feature than distinguishes one seller's product from those of others.

Warranty

A written guarantee, issued to the purchaser of an article by its manufacturer, promising to repair or replace it if necessary within a specific time period.

The 4P's of Marketing

Also called the Marketing Mix or the Key Elements of Marketing (Product, Price, Place, Promotion).

Publicity

Any message about a company, but it is not paid for and is out of the control of the identified business and so, can be positive or negative

Advertising

Any non-personal message that has an identified sponsor, is paid for and is in the control of the sponsor: TV or radio ad, newspaper, billboard, internet pop ups, pen with store name on it

Personal Selling

Being personally communicated to by a representative of the company about a product...a salesperson helping you pick out a pair of shoes.

Place

Considerations in getting the product in the right place at the right time for sale to the final consumer.

Sales Promotion:

In store promotion like window displays, point of purchase displays, signs, etc.

Price Setting:

Methods of payment accepted by a business...cash, credit, debit, layaway, checks, etc.

Services to Support the Product

Non tangible support to products such as gift wrap, delivery, or a help line

Strategies

Plan of action for achieving goals/objectives

Inventory Handling and Control

Procedures and systems around handling and accounting for product/inventory

Level of quality:

The ability of a product to fulfill the customer's needs and expectations. Defined in terms of parameters or characteristics, which vary from product to product.

Price

The amount of money that will be asked in exchange for a product or service. Must consider cost to produce, competitor's prices and what customers are willing to pay.

Product

The goods, services or ideas a business will offer its customers.

Business Image:

The image of the company that a consumer has in their mind

Channels of Distribution

The path a product takes from manufacturer to consumer

Product Research and Development

The process of researching, developing and improving products.

Goals/Objectives

Things business wants to do