Despite the complexity of 21st-century commerce, success in marketing is still founded on four basic concepts: product, price, promotion, and place. This program shows how businesses incorporate the four P’s into effective marketing strategies. By exploring tactics used to sell a wide range of products and services, the film illustrates ways of putting marketing plans into action.
Case studies highlight the work of a fashion designer and her creative director; the marketing activities that promote an upscale Australian hotel, as described by its general manager; and other instructive examples.
1. Marketing in Action: Marketing Mix Basic strategies of marketing include the marketing mix, namely products, pricing, placement, and promotion. Principles can be applied to businesses big or small.
2. Marketing in Action: Fashion Products An entrepreneur builds a large business with her unique Franco-Asian clothing designs.
3. Marketing in Action: Hotel Room as Product Well-branded and distinctive products are critical to marketing, as is a good product mix consisting of breadth, line, and depth. Products have life cycles and must be updated or changed regularly.
4. Pricing in Action To price her fashions, an entrepreneur considers cost and mark-up. The price itself takes into consideration what customers will pay (consumer perceptions). The principle of supply and demand is a foundational consideration in pricing.
5. Pricing Strategies "Dynamic pricing" ensures that the laws of supply and demand are met on a daily or hourly basis. For some companies, discounts could damage the product image.
6. Product Placement Product availability on the Internet changes marketing placement strategies. Placement also refers to timing, or delivering the product when it is needed. For many businesses, an Internet presence is essential.
7. Product Promotion: Target Marketing Savvy business owners carefully identify their target markets so that they can develop multiple promotion strategies. Promotion takes the form of mass media advertising, personal selling, Internet marketing, direct marketing, and more.
The 4 Ps: Marketing Strategies (DVD)
Time: 25 Minutes