Principles and Practice of Marketing by Jobber/Ellis-Chadwick

Product Information

Imitative products-they are new to a particular company but not new to the world.eg sqny and not sony or addidias instead of addidas. Sales representatives and middlemen-because there is constant touch with customers,they can provide first hand information about customers needs and their complaints. Booms and Bitner, the marketers who added the last three, thought that the original 4 Ps model was too focused on marketing tangible products. Their version caters to the unique considerations of service-based businesses. Sales and marketing always have had a close relationship, so close that many people have confused the two being the same. Standardized and custom made goods-standardised goods are produced in large quantities for use by everyone while custom made goods are produced based on customer specifications.

Distribution planning-this involves forming relations with distribution intermediaries,physical distribution,inventory management,warehousing,transportation,the allocation of goods and services,wholesailing and retailing. This refers to the group of people/objects that the researcher will make generalization based on the findings. The concern of the researcher is: Observation-it is commonly used in behavioral sciences. It is gathering of primary data by investigators own direct observation of relevant people, actions and situations without asking from the respondent. E.g. observing numerous plates containing uneaten proportions of the same menu item indicates that the food is not satisfactory.

New to the world-this is a truly unique product that is there is no other product like that in the market. Creativity – Creativity in advertising is important for small businesses as often they do not have the funding or resources that large corporations would have. Selling is only a part of firm marketing activities and refers to personal communication of information to persuade a prospective buyer to buy something. MKIS- is a system that consists of people equipment and procedures that are used to gather, sort, analyse,evaluate and distribute needed timely and accurate information to marketing decision makers.it helps managers to analyse,plan,implement and control various activities in the organization.

Legal factors-this relates to changes in the laws and regulations that govern business operations.businesses must be careful to keep laws and anticipate ways in which change in this laws will affect their businesses e.g. tobacco law,media bill,mututo law etc. This process describes how potential customers:Learn about new products,try them and Adopt or reject them. Adoption is an individual’s decision to become a regular user of a product. The consumer adoption process is later followed by the consumer-loyalty. When you think of marketing you may think of the adverts that pop up at the side of your screen or the billboards you see when you’re out – all those moments in the day when somebody is trying to grab your attention and sell you something! Marketing is about advertising and communications in part, but it’s also about many other things which all aim to create value for customers, from product research and innovation to after-care service and maintaining relationships. It’s a rich and fascinating area of management waiting to be explored – so welcome to Marketing!Market research should take a deep dive into your audience: their traits, desires, needs, and behaviors. Market segmentation can help you identify these key considerations, which then sets you up to deliver star products that they really love. Secondary data-this is data available or gathered(collected and analyzed by someone else; published materials,reports,journals and books Conduct market research to make sure your product stands out. Market research is the process of obtaining information about your target market so you can understand whether a certain product will succeed. This will help you get an idea of whether there is a need for your product in the marketplace — if your product solves a problem your customer has. ii) Resource scarcities-Disagreement over the allocation of some valuable resources needed to achieve a given goal may cause conflict

The 7 Ps should serve as a guide to help figure out the best marketing strategy for your business. These principles will help you make decisions about what to sell, who to sell it to and how to retain customers. Ultimately, they can leave a positive impact on your bottom line.

What Are Marketing Principles?

Capturing value from customers.this is in return in the form of current and future sales,marketing share and profits. Product characteristics-this includes perishability,product usage(industrial-direct or household-indirect). Promotion- Promotion is a function of marketing mix and is a technique used in creating awareness on the companys product as well as the company itself.