BUSINESS ENGLISH

MARKETING (page 2)


THE 5 P's OF MARKETING
* Product - the thing or service you offer customers
* Position - your place in the market in relation to your competitors
* Place - the way you make your product available to customers
* Price - the amount of money charged for a product or service in exchange for the benefits of the product or service
* Promotion - the specific mix of advertising, personal selling, sales promotion, and public relations a company uses to pursue its advertising and marketing objectives

PRODUCT
1. The product name should be both descriptive and creative. It should be a clear way to identify the product.
2. Determine the function of the product from the customer’s point of view.
3. The product should be adaptable to a changing market.

POSITION
1. Get the customers’ attention.
2. Interest them in buying.
3. Get them to buy.
4. Get them to buy again.

PLACE
1. How will you deliver your products to your customers?
retail / online / catalogue / in home / in person

PRICE
1. Understand your position before you determine price.
2. Do the necessary market research to establish your price.
3. Offer flexible pricing options and discounts to break into the market.

PROMOTION
1. Advertising: Print, Television, Radio, Web, Direct Mail, Expos/Conferences, In-store Demonstrations.
2. Public Relations: Press Releases, Media Appearances, Product Reviews