Week 10 EOC: Benefits vs .Features

Marketing Channels Understanding Consumer and Business

A lot of companies use marketing channels such as Facebook to promote their products. Like for instance companies are starting to incorporate what is called brand promoters to do the promoting on social media site. They give the person different products to try out and have them go on different websites to promote them and sometimes they even get a monetary award for promoting the products in an effective way. The marketing channels allow the companies to gain recognition from consumers to use their brand.

Channel members interact by displaying the product or service showing of the benefits and the features for instance on Facebook, and spark consumers curiosity when they talk about it which makes people want to buy the product or service that is being offered. The brand promoters set out a strategic plan to get people excited and happy about the product or service just as much as them which peaks a person’s curiosity and then they decide to use it.

The major channels available for a company are listed as follows: Facebook, YouTube, Twitter and Instagram.

Companies select people that have the have the ability to influence others with their words, actions and deeds and they choose people that like using the service or product already. They keep them motivated by supplying the service or product to them, allowing them to try it out so they can tell others about it.

The importance of marketing logistics and integrated supply chain is knowing your audience and what they want and supplying it for them as quickly as possible while the demand is there, if you don’t, you run the risk of losing business and people will become dissatisfied.

 

Week 8 : The adventure

The adventure...

It all started when I was traveling through Ethiopia to Uganda for an international business meeting when my Jeep broke down. It stopped in a small town in Ethiopia. I decided to just stay the night there as my jeep was getting fixed so I could start back on my journey to my business meeting in the morning.
I decided to stop that night and get a room. I checked my bags into the hotel. I saw that the hotel had an upscale lounge in it and I decided to stop I to relax and have a drink after long day of traveling.
I put my bags in the room, changed my clothes and proceeded to the lounge. As I entered the lounge I can tell it was for people who had a lot of money, the ambiance was perfect. There were plush couches with designer odd shaped tables. The lounge was futuristic in design.
I walked over to the bar instead of a table sat down and ordered a drink. I then looked over to my left and saw the most beautiful woman that I could have ever seen in my life. She was wearing a white silk gown with silver accessories to match eating a snack and drinking a glass of wine.
She then walked up to me and ordered me a drink and a snack as well.
"Hey there lover boy she says as she sits next to me at the bar. "You look like you needed a drink and a snack." Actually I do and I am very tired. The bar tender lays the drink and snack down in front of me and another drink for her. We were having a pleasant conversation when I felt a tap on my shoulder and a guy say," What are you doing talking to my woman? I can tell you are not from this town because if you were you would have known this already." I turned around and stood up." Excuse me sure but I don't see a ring on the young woman's finger so she is actually a free agent. He drew back as if he was going to hit but I punched him first. Grabbed the woman by her hand and we dashed out of the lounge. By this time, all the men in bar as running after us. And her now ex-boyfriend kept yelling, "Get them !"As we were exiting the hotel I reached into my pants, lit and threw a stick of dynamite between the hotel doors. I ran to a car that was sitting across the street broke the window, jumped in the car, broke the steering column and started the car. "Hop in!!" I told the young woman. She then got into the passenger side. As I was driving off I saw her ex lover running after the car. It just do happened that he made it out of the hotel before it blew up. "Stop him he yelled, he has stolen my car too. As I drove away I looked in the rearview mirror and saw a man pull up beside him and he jumped in. They chased us until they ran into traffic as we sped through a red light and across train tracks right before the train was about to cross.

Implementation Evaluation Control

When you have implementation evaluation control it means several things. "The company should analyze its markets and marketing environment to find attractive opportunities and identify environmental threats. It should analyze company strengths and weaknesses as well as current and possible marketing actions to determine which opportunities it can best pursue."
page 56 Marketing: An Introduction Armstrong/Kotler. An with tis concept you can determine if you are doing everything you can to get to your target audience.


Another great element/concept is: "Marketing control :   

The process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved." page 58 Marketing: An Introduction, Armstrong and Kotler. If you can control the market that you are trying to target you will be able to dominate it. You have to make sure that your product is in your consumers hands by advertising to the specific market you are trying to reach in order to control the market. Wal-Mart is a great example of implementation evaluation control.

Marketing Mix: Price

You have to have the right price for the right product. That is why I will be selling my snack Sophistique'  at $6. I want the price to be right for the product and want people to purchase it without breaking the bank. I have to affect the right market and my target audience. "It consists of the firm’s marketing mix, the set of marketing tools the firm uses to implement its marketing strategy". page 13 Marketing: An Introduction Armstrong & Kotler. 

Also you can get to consumers by making a product that offers quality, value, and with the right price you cant go wrong. Sophistique is being offered at $6 at exclusive upscale lounges,  bars and pubs across the country  so I can reach my audience the best way. Consumers not only want a great price but they want to feel important and making a consumer feel important along with the price adds to the value.
"Setting the right price is one of the marketer’s most difficult tasks. A host of factors come into play. But finding and implementing the right price strategy is critical to success." page 275 Marketing: An Introduction Armstrong & Kotler.

Marketing Mix: Promotion

Promoting a product is used in many different way. You can advertise a product  through different ways. The way I would promote my audience is through social media sites, billboards and television. I will also show my commercials to certain demographics that I want to use my products and will also tell others about it. "The promotion mix is the marketer’s bag of tools for communicating with customers and other stakeholders. All of these tools must be carefully coordinated under the concept of integrated marketing communications in order to deliver a clear and compelling message." page 377 Marketing: An Introduction Armstrong & Kotler.

When you promote it means:" activities that communicate the merits of the product and persuade target customers to buy it". page 54 Marketing: An Introduction Armstrong & Kotler. Promoting can be expensive and that is why using social media is actually cost the less. The more people click on or talk about your product the more you can get free publicity and get the name out there. With my product I plan on using Facebook and YouTube to make sure that when you click or search for certain things my product is recognize. I can even do like Jimmy Fallon and create my own media buzz by making a video that will get people talking about my product.

Marketing Mix: Distribution

There is a lot to distribution and you have to make sure you think smart about it when distributing your product. When you try to distribute a product you have to look for the most effect way to do so. You may have ti create business relationships with other companies in order to get the product out where you need to go. It is very important to make sure you are also making a relationship with distributing companies that may help you to decrease cost.  "Many critics charge that the American marketing system causes prices to be higher than they would be under more “sensible” systems. Such high prices are hard to swallow, especially when the economy takes a downturn. Critics point to three factors—high costs of distribution, high advertising and promotion costs, and excessive markups".  page 513 Marketing: An Introduction Armstrong and Kotler.

"Physical distribution firms help the company to stock and move goods from their points of origin to their destinations. Marketing services agencies are the marketing research firms, advertising agencies, media firms, and marketing consulting firms that help the company target and promote its products to the right markets". page 69 Marketing: An Introduction Armstrong and Kotler.

 

Marketing Mix: Product