Link to 4th P - Promotion Slides

Hi Class,

This is the link to the Promotion slides. Please find your task in the slides as well.

Thank you.

https://docs.google.com/a/sst.edu.sg/file/d/0B7Z-eybT9aNAT2J2RHpvcGV4V00/edit?usp=sharing

3rd P of Marketing - Place

Account and justify your Place strategy - WHY did you choose your PLACE?

1. Market Segmentation
2. Visibility and Convenience
3. Herding Effect
4. Allocated area/location

Exclusive, Intensive, selective distribution?

Transport, Warehousing, order processing (B2B)?

2nd P of Marketing - Price

Account and justify your pricing strategy according to the 4 main factors of Pricing:  

1. Customer (what do they want)
2. Costs (fixed, variable, etc)
3. Competition (same, higher or lower?)
4. Corporate Objectives (profit making, non-profit?)

Pricing Techniques

ìCost-plus pricing: Profit = Price – Cost (Bottom-line)
ìGoing-rate pricing: “Follow the competitor”
ìMarket Skimming: “Start high”
ìMarket Penetration: “Start Low”
ìOdd and Even Pricing: Using Psychology

MARKETING STRATEGY ONE - PRODUCT

In your business report,

ìWork on the “Product” component of Marketing Strategies.

ìInclude the Tangible and Intangible features of your product.

ìAnatomy of your product.

ìClassify your product.

A product consists of 2 components

ìTangible factorsìQuality, color, texture
ìIntangible factors
ìEnhance “product offering”
ìBranding, customer care, warranty

Anatomy of product
ìThe Core ProductìCar = transport
ìThe Tangible Productì physical/ unique features
ìThe Augmented Productìadded value
ìThe Future ProductìLT d/d


B2C market
ìConvenience Goods (routine)
ìShopping Goods (some risk)
ìSpecialty Goods (great risk)
ìUnsought Goods (“forced to buy”)