Marketingweek2

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Information about Marketingweek2
Education

Published on February 4, 2008

Author: Silvestre

Source: authorstream.com

BSM 325 Marketing :  BSM 325 Marketing David Precopio Week 2 4 P’s :  4 P’s Right product or service Sold in the right place Right price Most effective forms of promotion Motorola :  Motorola Vision or Mission “Seamless Mobility” Defines as helping users get and stay connected easily to the people, information, and entertainment The company does this by designing and delivering "must have" products, "must do" experiences and powerful networks. Motorola – Product :  Motorola – Product The first element in the marketing mix “If you create products that customers want, the other parts of the mix can be designed to meet customer needs” Company Principal business - Mobile phones Market Research Competitive advantage Product Focus - Motorola:  Product Focus - Motorola Attractive design Excellent call-quality Ease of use Value-added features including music player, games, camera, and video features High quality, reliable product Product Ongoing – Motorola :  Product Ongoing – Motorola Continuous improvement Example – thin RAZR Video, phone, ring tones What else is important to you? In Class Exercise :  In Class Exercise In groups of 3 or 4 In order of importance List the features of a cell phone that are most important to you What features do you want to see List what makes you buy a cell phone Choose a speaker to give the lists Lists will be shared in class Price - Motorola:  Price - Motorola Creates Revenue Other are costs Lifecycle pricing When a new product is launched prices will typically be high How does Motorola keep the consumer cost down? How do mobile phone providers get customers interested? Place - Motorola:  Place - Motorola Place is usually 1/5 of the total costs Distribution systems Right product to the right place at the right time What are some of the places you can purchase Cell phones? Promotion – Motorola :  Promotion – Motorola Techniques that a company uses to communicate with other individuals and organizations Advertising is referred to as 'above the line' promotion Other types of promotion such as special offers and discounts are referred to as being 'below the line' Increase awareness Product Launches Apple iPhone Name other “Big” Launches Creating the Right Marketing Mix:  Creating the Right Marketing Mix Products are supported by other elements of the marketing mix Right price Right place Appropriate promotion In a highly competitive market Motorola needs to regularly adjust this marketing mix in line with the changing requirements of millions of customers Overview of Product:  Overview of Product Identified who will be interested in buying Market research Market research data looks closely at market wants and needs Does your product meet those needs? Packaging design, materials used, size and quantity.  Don’t be afraid to change the product or the target market Customer's needs will change and therefore your products should change to reflect each market change If you ignore these changes your products will no longer be needed or desired by your target customers.  T On-going management - tracking your products and track how your customers are still receiving your products Product Phases – Product Lifecycle :  Product Phases – Product Lifecycle Introductory Releasing a new product Growth Increased revenue with increased competition Maturity Less hype – more management and more competitors Decline Interest decreasing – loosing appeal - a bad thing? Death Next Week:  Next Week Reading – Taking on Proctor and Gamble In Class Group Product Discussion Group Presentation USB, CD, Computer Class Discussion Everyone gives feedback

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