1 / 12

Mastering the 11 Elements of Marketing: Insights, Strategies, and Paradoxes

Discover the intricacies of the 11 essential elements of marketing, including product, place, price, and promotion. Learn how to effectively sell your product, determine the right pricing strategy, and choose the best promotion methods tailored to your target audience. Explore the dynamics of market behavior, cultural influences, and branding strategies, with insights into local adaptation and global branding. Understand the paradoxes of marketing and consumer behavior that shape modern marketing strategies.

reeves
Télécharger la présentation

Mastering the 11 Elements of Marketing: Insights, Strategies, and Paradoxes

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Marketing Paradoxes Meeting 11

  2. Marketing Elements • Product - what are you selling • Place - where are you selling it • Price - how much will you charge • Promotion - how will you use advertising, PR, sales and sponsorships • People - to whom are you selling

  3. Product • Combination of features, benefits and end benefits • Utilitarian or service orientation • Hi or low involvement decisions • Name and brand elements

  4. Place • Mass, selective, exclusive distribution • Wholesale clubs, outlet malls • Direct marketing - Internet, catalog • Direct sales - person to person • Pyramid marketing

  5. Price • Competitive • Discount • Low-price matching • Premium • Flexible (auctions)

  6. Promotion • Media advertising • Place-based advertising • Product placement • Public relations, media exposure • Sponsorships • Sales promotions (retail and consumer) • Event promotion (trade shows) • Direct sales (employee training)

  7. People • Relationship building • Consumer behavior • Account planning • Incentive rewards for employees • Qualitative research

  8. Paradoxes • Values reflect where people grew up; no global values • Markets must think global (products) , act local (people) • Technology void • Media control • Brand culture reflects country of origin • Research is culture-bound

  9. Global Branding Strategies By Brand Type • Single product brand (Club Med) • Line brands (Bud light, dark) • Umbrella / corporate brands (GM, Nestle)

  10. Branding Strategies • Cultivate established local brands - national to international brand • Global platform, local adaptations (Coke) • Create new brands (Nintendo Gameboy) • Purchase local brands (Kraft) • Develop line extensions (Pepsi Max) • Multi-local: mono to endorsement or concentration on core brands

  11. Standardization Same products at same prices via same distribution channels and promotions Influencing factors • Product category (hi-tech, hi-touch) • Positioning - same life cycle in different markets • International media (few) • Advertising concept and execution

  12. Localization Considerations of language, tradition, habit, perception, nationalism, media, technology Advertising adapted to culture and lifestyle Utilization of local talent and production Reflects social values, feelings, emotions Connects product with role in consumer’s life

More Related