Unit 10 Marketing.doc

Unit 10 Marketing Teaching aims: Lesson 1 The marketing mix Ⅰ Introduction What is marketing? Marketing: identifying anticipating and meeting customer needs and wants in a mutually beneficial process. It must be beneficial for both sides; it involves meeting the organisation’s objectives as well as the customers’. Marketing mix Price: What does it cost the customer? Product: What does it do? Promotion: What are they sold? Place: How does it get to the consumer? In addition, it is possible to include others: People: Are they well trained? Cooperative? Process: Is the buying process easy? Can customers pay by credit card? Can the goods be bought by phone? Product (the quality of a product depends on its:) Performance e.g the speed of a car, the power of a microwave Features e.g air conditioning or sunroof on a car Brand name Aesthetics What does it look like? Durability How long will it last? Reliability How likely is it to go wrong in, say, the first year? Ease of servicing How easy is it to fix? Price The price of a good or service may depend on: Cost Demand Competition Government: e.g the government places indirect taxes (VAT) on most goods Objectives: short term or long term profits Stage of life cycle: the price is more likely to increase in the growth phase and fall in decline The price is likely to be higher when: The good is heavily branded. The good is distributed to exclusive outlets. It is a speciality good. The good is at the growth stage of the life cycle. The firm is following a skimming strategy. Ⅱ Step C Ⅲ Step D Ⅳ Market Orientation 1.Market orientation: The organization focuses on customer needs and wants. The starting point of its planning is what customers want. 2.Why is market orientation becoming more important? Greater competition Shorter life-cycles Consumers more demanding Markets more fragmented Customers are more informed and choice is easier Markets are more open Lesson 2 Adverti