Product and pricing decisions
Marketing Communication strategy
Which Market to Choose
Reasons to enter international Markets
Price Product Place Promotion Physical Evidence Process People
Price Price is the amount the consumer must exchange to receive the offering. Solomon et al (2009).
Product Product means the goods-and-services combination the company offers to the target market. Kotler and Armstrong (2010).
Place Place includes company activities that make the product available to target consumers. Kotler and Armstrong (2010).
Promotion Promotion includes all of the activities marketers undertake to inform consumers about their products and to encourage potential customers to buy these products. Solomon et al (2009).
Physical Evidence Physical evidence is the environment in which the service is delivered, and where the firm and customer interact, and any tangible components that facilitate performance or communication of the service. Zeithaml et al (2008)
Process is the actual procedures, mechanisms, and flow of activities by which the service is delivered – this service delivery and operating systems. Zeithaml et al (2008). People People are all human actors who play a part in service delivery and thus influence the buyers' perceptions; namely, the firm's personnel, the customer, and other customers in the service environment. Zeithaml et al (2008).
Choose an SME of your choice and apply the marketing mix (7P’s).
Steps in formulating marketing communication strategy
Czinkota & Ronkainen (2010),p 382
• Strengths • Your
• Opportunities External • A
How does the SWOT analysis apply to the Apple company? In group of 3-4 apply the SWOT analysis to Apple.
Reasons to enter international markets
Why do firms need to enter international
Which Markets to choose?