POB

• Market


  Any situation in which the buyers and sellers interact in order to exchange goods and services
• Marketing


  The management process responsible for anticipating, identifying, analysing and satisfying consumer needs
• Social Media Marketing


  • Use of social media platforms to connect with audience to build brand, increase sales, and drive website traffic
  • Involves posting text, image, video updates and paid advertising
  • Major platforms are Facebook, Instagram, Twitter, LinkedIn, Pinterest, YouTube, Snapchat
  • Social media management tools like Buffer can help achieve success
• Integrated Marketing


  • Unified, immersive, cost-effective strategy that makes the most of marketing budget
  • Delivers consistent and relevant content experience to audience using multiple platforms
  • Example of Domino's Pizza brand turnaround campaign
• Marketing Activities


  • Market research
  • Pricing
  • Packaging
  • Branding
  • Sales promotion
  • Advertising
  • Distribution
• Market Research


  • Process of determining viability of new service/product through research with potential customers
  • Systematic gathering, recording and analysing data about marketing situations
  • Critical tool to understand what consumers want, develop products they will use, and maintain competitive advantage
• Information from Market Research


  • Consumer taste
  • Competition
  • Consumer behaviour
• Pricing


  • Both a marketing strategy and activity related to setting prices by producers
  • Price must be attractive to customers, competitive, and cover costs while providing profit
• Pricing Strategies


  • Cost-plus or cost-based pricing
  • Penetration pricing
  • Predatory pricing
• Packaging


  The way a saleable product is wrapped, displayed and presented to the customer
• Functions of Packaging


  • Transportation
  • Identification
  • Distribution
  • Attraction
• Branding


  The name, term, sign, symbol or design that differentiates a product from competitors
• Reasons for Branding


  • Creates customer loyalty
  • Increases sales
  • Gives firms greater control over products
  • Provides legal protection for ownership rights
• Sales Promotion Methods


  • Stamps and coupons
  • Free samples
  • Exhibitions
  • Contests
  • Bundling
  • Loyalty points
  • Rebates
  • Loss leaders
  • Social media advertising
• Advertising


  Highlights unique product features, builds brand image, introduces new products, increases demand, creates customer loyalty
• Forms of Advertising


  • Informative
  • Persuasive
  • Comparative
  • Reminder
• Advantages of Advertising


  • Increases market share
  • Increases profits for R&D
  • Provides information to buyers
  • Promotes competition
• Disadvantages of Advertising


  • Can be costly and increase production costs
  • Billboards can spoil natural landscape
  • Some ads not in public interest
• Distribution


  The process of making a product or service available for the consumer or business user who needs it
• Problems Related to Distribution


  • Spoilage of goods
  • Insufficient storage facilities
  • Delayed shipment
  • Misdirection of goods
  • Poor communication
  • Industrial unrest
  • Lack of proper security at ports
• Measures to Reduce Distribution Problems


  • Proper storage and packaging
  • Careful documentation and routing
  • Proper security measures
  • Good communication between importers, exporters and customers