marketing mix; 2.Apply the 7 P’s by which the enterprise will engage competitors and gain customers ; Introduction:
Marketing is about creating and accumulating
customers. Marketing plans are designed to capture market share and defeat competitors. The marketing function and the marketing mix serve the overall business strategy. 1. Positioning Is the context of a marketing battle plan. Three objectives; a. Enterprise perspective. –scans the market environment and decides to position itself with products which specifically address the needs of a chosen target. Competitive perspective. The enterprise has to differentiate and distinguish itself from its competitors. 3. Customer’s perspective – positioning is the way the customers perceive the enterprise and its product or services in their mind. Longitude – in the marketing map represents the product features and attributes of competitors.
Latitude – lays out
what is important to the different customers segments from their differing points of view. 2.Product – the tangible goods or the intangible services that the enterprise offers to its customers in order to satisfy their needs and to produce their expected results. 1. Breakthrough products – offer completely new performance benefits. 2. Differentiated products – try to claim a new space in the mind of the customers different from the spaces occupied by existing products 3. Copycat products – will not much impression on the customer’s mind. 4. Niche products – do not intent to compete directly with the giants. 3. Packaging Purpose of Packaging; 1.Identify the products 2.Differentiates the product from the competitors. 3.Lengthens the lifespan, physically protects and extent the usefulness of the product. 4.It has become an environmental issue 5.Price of the product. 4. Place Initial location Screening 1. The number of customers 2. The density or number of customers per unit area 3. Access route 4. The buying habits of customers 5. Locational features such as parking spaces, foot access creature comforts and the like. In similar way the entrepreneur must be able to determine the price that comes with the location. 1. The cost of buying or renting, renovating and operating the location 2. Customer volume, drop-in rates 3. Revenues based on the volume and mix of goods and services expected to be sold at certain prices. 4. Price Final Choice of Location; 1. The image and location condition 2. Exact fit to target customers. 3. Clustering of competitors establishement 4. Future area development 5. Fiscal and Regulatory requirements 5. People Why people are considered the ultimate marketing strategy? The people sell, push, searc hard, distribute, promote,price and sell the products in the most attractive market place. The Marketing efforts of people are organized in four levels; 1. To create customers awareness 2. To arouse customer’s interest. 3. To educate customers as they evaluate their buying choices. 4. To close the sale and deliver the products. 6. Promotion The Ayala Group has been able to build tremendous credibility in over a century of service to the Filipino people. Their bank, the bank of the Philippine Islands, is a conservative, safe but growing financial institution with a tremendous following from corporates, high net worth individuals, and ordinary depositors. Its Ayala Land offerings sell upscale lots and condominiums like hot cakes. Buyers know that Atala can deliver quality properties and that these properties would be able gain market value easily.Ayala’s reputation in building Makati City has spilled over to its numerous commercial centers and high class subdivisions in many key locations. All Ayala has to do in its promotion campaign is to announce that it is “AYALA” building the property and the people will buy. 6. Promotion * Is the explicit communication strategy adopted by an enterprise to elicit patronage, loyalty and support not only from its customers but also from its other significant stakeholders. PROMOTION 7. PRICE • Depends on the business objectives set by the enterprise. In a deeper sense, why do we need an entrepreneur in our society? THANK YOU AND GOD BLESS.