...UNIVERSITY OF APPLIED SCIENCES [pic] TERM PAPER THE 4 P OF MARKETING UNIVERSITY OF APPLIED SCIENCES, VARAŽDIN ENGLISH LANGUAGE TERM PAPER THE 4 P OF MARKETING Subject: English Language Professor: prof. M. Miščančuk Student: Andreja Andraši (1791/601) Varaždin, 09.04.2010. Varaždin, 09.04.2010. 2 Table of content 3 1. The 4 P's of Marketing in general 4 2. The Marketing Mix 4 2.1. Product Decisions 5 2.1.1. The Product Life Cycle (PLC) 6 2.1.1.1. Introduction 7 2.1.1.2. Growth 7 2.1.1.3. Maturity 7 2.1.1.4. Decline 7 2.1.2. Problems with Product Life Cycle 7 2.1.3. The Customer Life Cycle (CLC) 8 2.2. Price Decisions 8 2.2.1. Pricing Strategies 9 2.2.1.1. Premium Pricing 9 2.2.1.2. Penetration Pricing 9 2.2.1.3. Economy Pricing 9 2.2.1.3. Price Skimming 10 2.2.1.4. Psychological Pricing 10 2.2.1.5. Product Line Pricing 10 2.2.1.6. Optional Product Pricing 10 2.2.1.7. Captive Product Pricing 10 2.2.1.8. Product Bundle Pricing 10 2.2.1.9. Promotional Pricing 11 2.2.1.0. Geographical Pricing 11 2.2.1.1. Value Pricing 11 2.3. Place (Distribution) Decisions 11 2.3.1. Six basic 'channel' decisions 12 2.3.2. Selection Consideration - how do we decide upon a distributor 12 2.3.3. Types of Channel Intermediaries 13 2.4. Promotion...
Words: 2771 - Pages: 12
...Led marketing directorIntroduction p. 3 II. Mission and objectives p. 4 III. Capabilities of our company p. 4 IV. Current Marketing Situation p. 5- 10 V. Positioning p. 10 - 11 VI. Marketing Strategy p .12 - 20 1. Product Strategy 2. Pricing strategy 3. Promotion strategy 4. Distribution strategy VII. Budgets p. 20 - 21 VIII. Controls p. 21 -22 IX. Executive Summary p. 23 - 24 X. References p. 24 I. Introduction What is LED light? With a view to creating a better quality of light and saving energy LED light has entered the light industry. Full form of LED is light emitting diode. The concept of LED is pretty simple. Like every other diodes, LED is made of semiconductor filled with impurities from Group IIIA and GROUP VA elements, creating a p-n junction. As electricity flows from the p part to the n part, holes from the p part meet the electrons from the n part. When the holes and electrons meet, they radiate energy. In LED, this energy is used as light. Electroluminescence, the basic concept of LED was discovered in 1907 by H J Round. But until 1968, LEDs were very costly and inefficient for commercial and personal use. The Monsanto Company was the first industry to mass produce LED lights for indicators in 1968. After that, there had been quite some developments in LED technology resulting in the efficiency to rise exponentially with a doubling... READ FULL DOCUMENT Introduction p. 3 II. Mission and objectives p. 4 III. Capabilities of our company p. 4 ...
Words: 1196 - Pages: 5
...Chapter 1: Convergence Multiple Choice 1. E-marketing affects traditional marketing in which of the following ways? a. increases efficiency of traditional marketing functions b. technologically transforms marketing strategies c. decreases the reach of marketing campaigns d. both A and B (d; Medium; p. 3) 2. _____ is the subset of e-business focused on transactions. a. E-commerce b. E-marketing c. Digital technology d. ESP (a; Hard; p. 3) 3. Convenient access to digital information has the ability to transform all of the following except _____. a. ecosystems b. governments c. societies d. businesses (a; Easy; p. 5) 4. The Internet consists of all of the following except _____. a. computers with data b. users who send & receive data files c. a technology infrastructure to move, create and view or listen to the content d. a central mainframe (d; Medium; pp. 3-4) 5. A network that runs internally in an organization but uses Internet standards and browsers is known as _____. a. an Intranet b. an Extranet c. an Internet d. the Web (a; Medium; p. 4) 6. Internet technology has changed traditional marketing in all of the following ways except _____. a. made place less important b. increased the importance of interdisciplinary understanding ...
Words: 1924 - Pages: 8
...all managers. True False 2. The three basic jobs in the marketing management process are planning, implementation, and control. True False 3. Strategic planning is a top management job that includes planning only for marketing areas. True False 4. Strategic planning is the managerial process of developing and maintaining a match between an organization's resources and its market opportunities. True False 5. Finding attractive opportunities and developing profitable marketing strategies are the tasks included in the marketing manager's marketing strategy planning job. True False 6. A marketing strategy is composed of two interrelated parts--a target market and a marketing mix. True False 7. A marketing strategy is composed of two interrelated parts--planning and implementation. True False 8. The two parts of a marketing strategy are an attractive opportunity and a target market. True False 9. Mass marketing means focusing on some specific customers, as opposed to assuming that everyone is the same and will want whatever the firm offers. True False 10. The terms mass marketing and mass marketers mean the same thing. True False 11. Potential customers are all alike. True False 12. "Mass marketers" like Target usually try to aim at clearly defined target markets. True False 13. The "four Ps" of the marketing mix are Product, Position, Promotion, and Price. True False 14. The "four Ps" of the marketing mix are People, Products, Price, and Promotion. True False...
Words: 27177 - Pages: 109
...Name: Date: MARKETING -- TEST #1 Chapters 1-7 Total points – 100 Note: This exam consists of your response to a case analysis and discussion questions Case Analysis: Please respond to the questions at the end of the case titled, “Sweetest Dreams Inn”, page 655 of your text. You can provide any other remarks you wish since your points will be determined in large part by the comprehensiveness of your analysis (Breadth, Depth, and Application). Points = 15 Evaluate Mai Phan’s present strategy. What should he do? Explain. Answer: One thing for sure, he has to get market visibility. Some research is already completed by the Regional Tourist Bureau which confirms most of what he suspects; he has to change to draw in more vacationers. 78% of visitors indicated that recreational facilities were important. He is going to have to utilize the 5-Step Approach to Marketing Research to help define the problem and what information is needed (p.208) 1. Define the Problem 2. Analyze the situation. 3. Getting Problem-Specific Data. 4. Interpreting the data. 5. Solving the problem. The information provided by the research by the tourist bureau is a good starting point and he will have to get primary (information specifically collected to solve the current problem) and secondary data (information that has been collected or published already)(p.210). The best place to start is on the Internet by using search engines and databases. These provide lists of...
Words: 2134 - Pages: 9
...ASSUMPTION UNIVERSITY MARTIN de TOURS SCHOOL OF MANAGEMENT AND ECONOMICS DEPARTMENT OF MARKETING COURSE SYLLABUS SEMESTER 2/2015 |MARTIN de TOURS SCHOOL OF MANAGEMENT AND ECONOMICS’ VISION | |Leading International Business School in ASEAN Region | |MARTIN de TOURS SCHOOL OF MANAGEMENT AND ECONOMICS’ MISSION | |Shaping Graduates toward Global Business Excellence | |ASSUMPTION UNIVERSITY’S UNIQUENESS | |An International Catholic University | |IDENTITY OF AU STUDENTS | |Ethics, English Proficiency, Entrepreneurial Spirit | |COURSE ORGANIZATION ...
Words: 4075 - Pages: 17
...THE PRODUCT ‘P’ IS ALWAYS THE SINGLE MOST IMPORTANT ELEMENT IN THE MARKETING MIX Definition of Marketing Mix According to Philip Kotler - "Marketing Mix is the combination of four elements, called the 4P's (product, Price, Promotion, and Place), that every company has the option of adding, subtracting, or modifying in order to create a desired marketing strategy" Marketing Mix was first coined by Neil Bordon, the President of the American Marketing Association in 1953 and is referred to as the set of actions, used by a company or organisation to promote its product or service in the market. A typical Marketing Mix is made up of 4Ps – Product, Price, Promotion and Place. These 4 Ps were introduced by the marketer E. Jerome McCarthy in 1960 and since then they are being used worldwide by the marketers. Product A product is a good or service offered by the company to satisfy the demands of the consumer. Price Price is considered to be an amount charged by the seller for the product or service given to the buyer. Promotion The methods used by the marketer to bring the product into market and to create awareness among the people e.g. advertisement. Place Place is all about how the products reach its buyers for sale. A business can be profitable only when the right product with right price is made available to the right users. The Product ‘P’ is always the single most important element in the Marketing Mix Affirmative The product plays the most important role in...
Words: 1186 - Pages: 5
...Student: ___________________________________________________________________________ 1. Marketing is an activity that only large firms with specialized departments can execute. True False 2. Good marketing is not a random activity. True False 3. Understanding a customer's needs and wants is fundamental to marketing success. True False 4. Marketers might wish to sell their products to everyone, but it is not practical to do so. True False 5. The four Ps include product, promotion, planning, and place. True False ch01 6. Because thoughts, opinions, and philosophies are neither goods nor services, they cannot really be marketed. True False 7. The group of firms that makes and delivers a given set of goods and/or services is called a supply chain. True False 8. Value is what you get for what you give. True False 9. Value-based marketing helps to build long-term customer loyalty. True False 10. Over the past decade or so, marketers have begun to realize that it is best to structure a firm's customer orientation in terms of transactions rather than relationships. True False 11. The AppleTM iPad has been successful because it provides value to customers. True False 12. When a good or service is promoted, the purpose of the promotion is to inform, persuade, or remind customers. True False 13. By publishing a Code of Ethics, a firm ensures that all employees will behave ethically...
Words: 8459 - Pages: 34
...Minor Assignment Report Introduction The following report will examine the 4 elements of the marketing mix and their relevance and importance within the retail petroleum industry. The marketing mix elements are often referred to as the 4 p’s of marketing and are product, price, promotion and place (Solomon, et al. 2011, p. 21). These 4 elements are the building blocks of an effective marketing strategy and are useful in gaining an understanding of marketing in the retail petroleum industry. This report will deal with each of these elements individually and discuss how the macro and micro environments of the retail petroleum industry in Australia affect the way marketers approach these 4 elements. Reference will be made to texts, industry reports, and an internet news article. These references will help to provide a complete understanding of the implications of the marketing mix on this industry. Product A product is ‘a tangible good, service or idea that satisfies consumer or business customer needs through the exchange process’ (Solomon, et al. 2011, p. 11). Products can be referred to as having three levels. These levels are the actual, the core and the augmented product (Solomon, et al. 2011, p. 22). An actual product is the tangible good or service that delivers the desired benefit to a customer. In the retail petroleum industry we have a number of actual products that are offered to customers. Firstly, there is petrol and diesel, as well as related products...
Words: 1664 - Pages: 7
...The economic crisis and decreasing purchase potential enforced companies to develop new marketing strategies. In this context, the concept of relationship retailing comes to the fore. Thanks to fast developments in technology, companies can follow customers shopping intervals and their shopping list and by this means, they make different applications to form loyal customer. In this study, relationship retailing approach has been analyzed to constitute customer and brand loyalty and interrelations among those concepts have been explained theoretically. Corporate Mutualism: Relationship Retailing in the Modern World Companies today often find it hard to stand out amongst their competitors. With the continuous bombardment of advertisements that a consumer is exposed to everyday, a predicament arises that every company must address: Customer Loyalty. How can they ensure their customers’ devotion to their product/company? What can they do to gain the upper hand in today’s globally competitive industries? One strategy that’s recently come to rise is Relationship Marketing. Towards the late 1980s and early 1990s, marketing research began to highlight the importance of developing relationships for efficient marketing. At this stage, the Center of Relationship Marketing was established at Emory University that brought the issue of relationship management into the mainstream. Relationship marketing has received important attention since the 1990s as consumers have become more demanding...
Words: 1246 - Pages: 5
...Chapter 1 Marketing: Managing Profitable Customer Relationships Multiple Choice 1. Marketing seeks to create and manage profitable customer relationships by delivering _____ to customers. a. competitive prices b. superior value c. superior service d. superior promotion (b; Easy; p. 5) 2. The marketing manager at Sunshine Car Washes is holding a training session for new employees. She stresses that perhaps the most important concept of modern marketing is _____. a. customer relationship management b. e-mail advertising c. a quality Web site d. properly trained sales people (a; Moderate; p. 15) 3. This business is now the best-known name on the Net. a. Barnes and Noble b. Microsoft c. Amazon.com d. America Online (c; Easy; p. 3) 4. Jeff Bezos, founder of Amazon.com, wants to deliver a _____ to every customer. a. special experience b. superior value c. wide selection of products d. none of the above (a; Easy; p. 4) 5. Amazon.com delivers all of the following benefits except one. Choose it. a. huge selection b. good value c. convenience d. no refund, credit only policy (d; Challenging; p. 3) 6. Selling on the Web presents serious challenges. Amazon.com has made large initial investments in computer systems, distribution centers, and _____. a. customer acquisition b. inventory c. employee training d. employee benefits (a; Moderate; p. 4) 7. Many experts...
Words: 4977 - Pages: 20
...of Integrated Marketing Communication TRUE/FALSE 1. A company that markets a vitamin supplement produces a commercial that has the stated purpose of simply delivering straight information about the product. It is still an attempt to directly generate sales. ANS: T PTS: 1 DIF: Difficult REF: p. 6 OBJ: 1-1 2. IMC is the use of many tools, including advertising, in a coordinated manner to build and maintain brand awareness, identity, and preference. ANS: T PTS: 1 DIF: Moderate REF: p. 7 OBJ: 1-1 3. A public service announcement (PSA) for the Partnership for a Drug Free America is aired on three major television networks for free. This is an example of a public information message, not advertising. ANS: T PTS: 1 DIF: Moderate REF: p. 6 OBJ: 1-1 4. Mass communication has two major components: production and reception. ANS: T PTS: 1 DIF: Easy REF: p. 8 OBJ: 1-2 5. The communication production process produces the content of all advertising messages. The communication reception process produces the same interpretations among all audience members. ANS: F PTS: 1 DIF: Difficult REF: p. 9 OBJ: 1-2 6. A target audience is the whole group of consumers that will see an advertisement or an advertising campaign. ANS: F PTS: 1 DIF: Easy REF: p. 10 OBJ: 1-3 7. When trying to deliver an advertising message to a professional audience, the medium of trade journals is most predominantly used. ANS: T PTS: 1 DIF: Difficult REF: p. 10 OBJ: 1-3 ...
Words: 5836 - Pages: 24
...Doughnuts E – Marketing Plan Name : Dimitri Josephine Student Number : n8934291 Tutorial : Tuesday 5-6 pm Word Counts : 1774 Executive Summary The purpose of this report is to provide an e-marketing plan for the client, Divine Doughnuts. After examining the current online presence, some strengths and weaknesses have been found. Furthermore, some issues arise regarding the Divine Doughnuts’ online presence has also been addressed as well as the recommendations to counter the circumstance. Thus, after examining the direct competitor online presence, it is required that Divine Doughnuts improve their online presence in order to be able to still competing in the market. Therefore, the intended target market and the appropriate marketing mix strategies to approach it has been provided. A brief budget plan has also been calculated to give an idea to Divine Doughnuts of how much the redevelopment would cost. Table of Content Executive Summary………………………………………………………………………… 2 1. Introduction………………………………………………………………………………. 4 2. Goal and Objective…….…………………………………………………………………. 5 3. Target Marketing Strategy………………………………………………………………... 5 4. Marketing Mix Strategies………………………………………………………………… 6 5. Monitoring and Evaluation………………………………………………………….……. 7 6. Budget……………………………………………………………………………………. 7 7. Conclusion………………………………………………………………………………... 9 8. References………………………………………………………………………………… 10 9. Appendix………………………………………………………………………………….. 12 1. Introduction This marketing plan was...
Words: 2315 - Pages: 10
...The Marketing Mix (The 4 P's of Marketing) Marketing decisions generally fall into the following four controllable categories: • Product • Price • Place (distribution) • Promotion The term "marketing mix" became popularized after Neil H. Borden published his 1964 article, The Concept of the Marketing Mix. Borden began using the term in his teaching in the late 1940's after James Culliton had described the marketing manager as a "mixer of ingredients". The ingredients in Borden's marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingredients into the four categories that today are known as the 4 P's of marketing, depicted below: The Marketing Mix These four P's are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four P's on the customers in the target market in order to create perceived value and generate a positive response. Product Decisions The term "product" refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made: • Brand name • Functionality • Styling • Quality • Safety • Packaging • Repairs and Support • Warranty • Accessories and services Price Decisions Some examples...
Words: 819 - Pages: 4
...Chapter 01 The Scope and Challenge of International Marketing True / False Questions 1. (p. 3) Global commerce thrives during peacetime. TRUE Difficulty: Easy Type: Knowledge 2. (p. 4) To date, the lesson for international commerce in the 21st century is "expect the unexpected." TRUE Difficulty: Easy Type: Knowledge 3. (p. 5) Today, every American business is international. TRUE Difficulty: Moderate Type: Comprehension 4. (p. 5) One event that will influence the shape of international business as the future unfolds is the rapid growth of the World Trade Organization, NAFTA, and the European Union. TRUE Difficulty: Moderate Type: Comprehension 5. (p. 5) One event that will influence the shape of international business as the future unfolds is the unprecedented acceptance of communism and socialism in Latin America. FALSE Difficulty: Moderate Type: Comprehension 6. (p. 5) A trend that will impact international business in the future is a mandate to properly manage the resources and global environment. TRUE Difficulty: Moderate Type: Comprehension 7. (p. 5) Today, most business activities are local or regional in scope. FALSE Difficulty: Moderate Type: Knowledge 8. (p. 6, Crossing Borders 1.1) What do French farmers, Chinese fishermen, and Russian hackers have in common--they can all receive subsidy payments from the U.S. government. FALSE Difficulty: Moderate Type: Knowledge 9. (p. 6) Foreign-made products remain a small portion...
Words: 6019 - Pages: 25
