Marketing and advertising

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Categoria:Inglese

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Testo

Marketing is a method to identify, anticipating and satisfy the costumers’ needs.
To survive in a competitive business world, companies need to be able to identify the costumers’ needs and to provide the goods and services to satisfy these needs.
MARKET RESEARC
The market research is the process to obtain and analyse information about the market and this information can be used to help the company aim its products at a specific target or sector of market.
The market research analyses:
 geographical location of the potential market and its size
 market trends
 local regulations and legislations
 competitors’ activity, strategy and performance
 costumer’s profile
 costumer’s needs
Information can be collected from:
 official statistic
 market research organisation
 interviews and questionnaires
THE MARKETING MIX
The Marketing Mix is the combination of the different element of a company’s marketing plan and included Product, Price, Place and Promotion
PRODUCT DEVELOPMENT
All details about the nature of the product: type, size, quality, name, design.
PRICE
The price at which the product will be sold depends on the type of price that the company decides to follow:
 cost-based pricing
 customer-oriented pricing
 competitor-oriented pricing
PLACE
This refers to the channel of distribution chosen by a company to launch its product in the market through wholesalers, retailer or through the Internet.
PROMOTION
The means through which the customers know about the products.
There are different methods of promoting
 sale promotion – give incentives
 personal selling – use of sale representatives and agent
 direct mailing – send information by post
 sponsorship – companies sponsor events, teams, programmes
 advertising – to draw the attention of costumers
 trade fairs – opportunities to make new contacts and generate new sales
Trade fairs is an expensive methods of promotion.
But there are also many advantages for a company:
 expose its products to a wide range of potential customers
 sell its product
 acquire contacts that will turn into opportunities for future sales or deals
 launch new products
 carry out market research
 change/enhance its image
 size up the competition
And also for the visitors:
 approach new suppliers
 discuss products and services with experts in the field
 buy or order products
 receive special offers and free gifts

Advertising is a form of promotion that is used both to increase the sales of an existing product, and also to promote new product and services.
The most popular advertising media are:
 television
 radio
 press
 posters, billboards, electric signs
THE POWER OF ADVERTISING
The most difficult task for the advertiser is to make sure that consumers remember the message of his adverts.
Advertising messages can be classed in three types:
 persuasive – to create in the potential customer the desire to buy a product
 informative – to give information in the public interest
 competitive – to buy a certain brand of product rather then one of the competition
other methods used to make their advert memorable and persuasive are:
 visual images
 slogans
Commercial Theory 9 ( Marketing And Advertising

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