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Module 5 Lesson 4 Place Promotion Price Position

The document discusses key components of marketing, including place, price, promotion, and positioning. It explains distribution methods, pricing strategies, and various promotional techniques to effectively reach target customers. Additionally, it emphasizes the importance of understanding customer perceptions in product positioning.

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4 views

Module 5 Lesson 4 Place Promotion Price Position

The document discusses key components of marketing, including place, price, promotion, and positioning. It explains distribution methods, pricing strategies, and various promotional techniques to effectively reach target customers. Additionally, it emphasizes the importance of understanding customer perceptions in product positioning.

Uploaded by

Rome
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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PLACE

Place refers to distribution or the


methods you use for your
products or services to be easily
accessible to the target
customers.
Also called placement or
distribution, this is the
process and methods
used to bring the product
or service to the
consumer.
—(Luenendonk,
2020).
The place where the businesses situate and their
accessibility are vital
-Accessibility influences
relates in marketing.
not
just to physical
approachability but to
other means of
communication and
-(Chand,
contact
2019).
Would you like to run your
own business?
If you own a retail shop, for
example, the distribution chain
ends with you and you supply to
your customers directly.
As a manufacturer, you can decide
whether to sell your products directly
to consumers or to sell them to
intermediaries or middlemen to
distribute them.
Two types of
distribution channels
(Mendiola (2017):
1. Direct distribution-
the type of distribution
where there is direct sale
between the manufacturer
and the consumer.
2. Indirect distribution-
the type of distribution
wherein manufacturer
utilizes a wholesaler or
retailer to sell his/her
products
PRICE
As specified previously, Price is the
monetary value a customer pays in
exchange for a merchandise or service.
Determining the right price for your
product can be a bit tricky because of
some factors that we have to consider
(www.marketingmix.co.uk).
A common strategy for beginning
small businesses is pricing their
product lower than their
competitors. Your pricing strategy
should reflect your product’s
positioning in the market. The
amount should not project your
business as too cheap or too
expensive. Low pricing delays your
business’ growth while high pricing
Pricing Strategies (Acutt, 2020):

Cost Plus. Cost Plus is taking the


production expenses (including
labor, materials and other
resources) and adding up a certain
profit percentage and then the sum
will be the product’s price.
Value-Based. Instead of using the
production cost as basis, an
entrepreneur can consider the
customer’s perception of the
product’s value. The perception of
the purchaser is dependent on the
product’s quality, the brand
standing, and benefits, aside from
the cost factors.
Competitive. You can conduct a
survey of the pricing applied by your
competitors on a similar product
that you are trying to sell and then
decide whether to price your
product cheaper, the same, or
higher. You should also monitor their
prices and be able to respond to
variations.
PROMOTION
The strategies you use to
endorse your product or service
in the market is called
promotion.
In order for you to persuade
patrons to purchase your
product,
explain what it is

why they should buy


it.

how to use it
Common Marketing
Communication Methods
in Promoting
(Lumen Learning, 2020):
1. Advertising
- is a series of related, well-
timed, carefully placed television
ads coupled with print advertising in
selected magazines and
newspapers. An effective
advertising contains a clear
message that is directed to a certain
audience and is done through
suitable channels.
2. Direct marketing
-refers to direct-to-
consumer mail pieces sent to
target segments in selected
geographic areas, reinforcing
the messages from the ads
3. Personal selling
-uses in-person interaction to sell
products and services. This is done by
the company’s sales personnel who
are personally interacting with the
customers.
4. Sales promotions
-are marketing communication tools
for stimulating revenue or providing
incentives or extra value to
distributors, sales staff, or
customers over a short time period.
4. Sales promotions
-Sales promotion activities include
special offers, displays,
demonstrations, and other
nonrecurring selling efforts that are
not part of the ordinary routine.
5. Digital marketing
- is an umbrella term for using
digital tools to promote and market
products, services, organizations
and brands.

There are several essential tools in


the digital marketing tool kit: email,
mobile marketing, websites, and
social media marketing.
6. Public relations
-is the process of maintaining
a favorable image and building
beneficial relationships between
an organization and the public
communities, groups, and people
it serves.
PR is often referred to as “free
advertising”.
POSITIONING
- is a market concept that outlines what a
business should do to market its product
or service to its customers. In positioning,
the marketing department creates an
image for the product based in its
intended audience.
Positioning is simply the definition
of a certain product in the mind of
the customers. The entrepreneur
must always describe the product
based from the perspective of the
customers. You must put yourself in
their place in assessing the cost,
quality, and variety of the products
you offer.

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