Discussion Board Forum Replies Instructions
You will then reply to 2 different classmates' threads with a thoughtful consideration of the Discussion Board Forum thread topic and marketing application made by the student initiating the thread. Each reply must be at least 250 words each, not including abstract, title page, or references. The reply needs to be 250 words, 1 citation. Here is the discussion that needs a reply.
- The Marketing Concept is the research done to find the need of the people in a specific area and provide that product or service cheaper than the other competitors.
In Your Own words define and explain the 4 P's
Price - is the amount required to use or purchase the service or good that people need or want.
Ex. if a person would like their carpets clean, they would most likely go to a carpet cleaner and service and pay a "Price" for that company to come clean their house.
Product - is the intangible service or tangible good that is needed or desired in that specific place.
Ex. In San Diego there are people who come around to sell solution to repel salt water rust on the window sills on houses near the beach. This is a specific product used in a specific area.
Promotion - is the strategy a company uses to advertise the product they want people to see.
Ex. A company that gives wildlife tours would create flyers and pictures "Promoting" the animals they see on their wildlife tours. This is a way of promoting the service they would like to give people.
Place - the area that will most likely want or need the good or service.
Ex. In places like Death Valley were temperatures can reach up in the 130's, it would be smart to make almost all buildings air condition because in that heat it is important that "Place's" around there have a cool place for people to get out of the heat and purchase your product or service.
Proved an example of a company that uses one or both approaches
I found a company this year called TRATO, that uses the Promotion and Price strategy in their marketing. The company raises awareness towards sea life cruelty and uses social media pictures and merchandise to show people the treatment of animals all around the world. They sell clothing for cheap and give 80% of their proceeds to help animals or give them new homes in their natural habitat. So in their marketing strategy they use social media to "Promote" anti-cruelty towards animals while giving clothing for cheap "Prices" to help give back to the animals we all love and care about.
Define "Marketing" and "Sales" / Explain how they are different and how they depend on each other
Marketing - is having a good or service and putting that idea in the right place, at the right time, in an area where that good or service is needed.
Sales - is the exchange of a commodity for a good or service .
The two concepts are different because Marketing usually relates to portraying a product to be purchased, where as Sales are the process of purchasing that item or service. The two depend on each other because to have a successful product a company needs good marketing to show people where this item can be purchased, for the best price, with the highest quality.
"Generational Cohorts" or "Millennial's" are Americans born between 1977 and 1994. This group of Americans were highly influenced by music, sports, video games, and all forms of communication. The millennial's were big into making the world a better place, so any environmental issue or social responsibility is a huge marketing strategy and motivation for companies looking to appeal to this specific group of people. The Millennial's were also very idealistic people who were raised to dream big and do the things that they loved the most.
Identify an Advertisement or Commercial
- A year ago a couple months before spring break I saw an advertisement that had a hammock hanging from a Palm Tree and said on the bottom "Where will your Spring Break homework be completed?" This advertisement was for a Vacation area in Florida and it seemed to target college kids but specifically Generation Y young adults. Since us "Millennial's feel a lot of school and work pressure, this advertisement portrayed a relaxing area to get out of the stress of life but continue to work on the work people needed to complete.
Personally, I think this scripture relates to the Millennial's as God being a rock to learn on when things get hard. The verse when I read it says God was there for me yesterday, he will be here with me today, and he will be there for me forever. "Millennial's" are so into their school or work that they can get stressed or pressured and just need someone to be there with them so I think this verse is just a reassurance from God that He is always here for us and He will never change.
Putting the right product in the right place, at the right price, at the right time.
It's simple! You just need to create a product that a particular group of people want, put it on sale
This question was answered on: Sep 18, 2020
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