topic 2

• Product differentiation


  When products that are the same or similar are made to appear different and/or better than those of the competitors. It highlights differences between one product and another a business is trying to make its product more desirable to consumers, giving them a competitive advantage
• Factors that differentiate our product

  • Customer Service
  • Convenience
  • Value for money
  • Quality
  • Corporate Social Responsibility (CSR)
• Customer Service


  Presentation of the product in pre-sales service + after sales service
• Convenience


  Consumers are busy and time poor e.g. supermarkets & fast food outlet are a source of convenience because of close proximity, affordable, efficient service, fresh
• Value for money


  Products that offer reliability and quality e.g. Aldi, generic brand but cost affordable, variety of products and quantity products
• Quality


  Products which have a high degree of excellence achieve their design purpose e.g. products that are durable, reliable, well designed and delivered on time
• Corporate Social Responsibility (CSR)


  Involves the mangers or owners of a business taking steps to ensure that the broader social welfare, including customers, suppliers and the environment is taken into consideration when conducting business dealings e.g. materials used in production are sustainable, minimising packaging and waste
• Target market


  A group of people with similar characteristics that the business will focus their marketing to
• Market segmentation


  Occurs when the total market is subdivided into groups of people with one or more common characteristic
• Niche market


  Targets a very small segment of the total market e.g. high luxury
• Main features to segment the market

  • Age
  • Gender
  • Income
  • Level of education
  • Location
  • Family structure
  • Lifestyle
• Promotion


  The methods used by a business to inform, persuade and remind consumers about its products
• Promotion mix


  The various strategies a business uses in its promotional campaigns
• Promotional Strategies


  • Advertising
  • Personal Selling
  • Relationship Marketing
  • Sales Promotion
  • Publicity
  • Public Relations
  • Opinion Leader
• Advertising


  Targets a selection of people
• Personal Selling


  A sales representative directed to a customer in an attempt to make a sale
• Relationship Marketing


  Development of long-term relations with individual customers
• Sales Promotion


  Offers direct inducement to customers in all attempt to sell more of its products
• Publicity


  Any free news story about a business
• Public Relations


  Public relations are those activities aimed at creating and maintaining favourable relations between a business and its customers
• Opinion Leader


  Someone who influences other consumers
• Gendered marketing


  Consists of differentiating consumers based on their gender through tailoring one or more of the elements of marketing campaign or product features based on gender stereotypes
• Competition and Consumer Act 2010

  Protects consumers against undesirable practices such as misrepresenting the contents of products or their place of production and misleading and deceptive advertising
• Truth in advertising


  Should be truthful and not misleading
• Children's advertising


  The marketing of junk food to attract younger audiences
• Invasion of privacy


  Tracking of web users and using this information to target them with advertisements
• Creation of needs - materialism

  Desire to constantly acquire possessions causing company to mass produce and keep up with trends
• Product placement


  Advertising a product in entertainment it blurs the line between advertising and entertainment
• Elements of Coca-Cola marketing

  • History of Coca-Cola
  • Targeted Product Range
  • Branding
  • Advertising
  • Packaging
  • Sponsorship
  • Personal Selling
  • Relationship Marketing
  • Corporate Social Responsibility
• History of Coca-Cola


  Coca-Cola started as a syrup for people when they had headaches the syrup was used to relieve them. Asa Candler bought the recipe for Coca-Cola off John Pemberton and developed it into a major company
• Targeted Product Range


  CCA offers range of sparkling and still beverages for different target markets
• Branding


  Associate the brand with a good feeling: happiness, relaxation, friends which can be seen through their advertisements. Font and colours. DE-branding - putting names on coke bottle
• Advertising


  Selling abstract positive concept. Advertising a lifestyle
• Packaging


  Unique bottle shape. Red disk: all coke bottles would have this on their label the company used this to unify the brand. Eco-friendly packaging made from
• Sponsorship


  Sponsor events like FIFA world cup and Olympics. Provides money to the event to use their product
• Personal Selling


  They sent representatives into shops weekly to. This improved sales by 2% after dropping by 11% once they fully implemented this sales will increase
• Relationship Marketing


  Companies can have reward programs like loyalty cards. Sending personal emails
• Corporate Social Responsibility


  Coke campaigning with other companies on major issues they do this to show that they do not care just about profit but about their costumers and. Helps boost the companies reputation