Marketing Trends
With the addition of new marketing trends like social media, marketing managers have many methods to increase brand recognition and new tools to build relationship marketing. The marketing process, however, still remains the same.
Essay: Name and describe the steps involved in the marketing process. In your opinion, what is the most important step for your Team Company at this point in time?
sonicbloomprod 
The four steps involved in the marketing process are the four P’s, product, price, place, promotion. First would be coming up with a specific product to market that fits consumer needs. After you have a product or service, the next step would be to set an appropriate price for it. Appropriate being the key word. Once your price is established, a place to sell your product is the next step. With all things considered you need a suitable distrobution system to fit best for your particular product. The last part of the marketing process is promotion. Promotion is very important to the success and longevity of your product. This includes advertising and all sales promotion efforts.
The most important step in the marketing process when discussing Walt Disney World, is price. Disney already has a very successfull prodect that is not going anywhere anytime soon. With todays economy, and the fact that Walt Disney advertises to families and children, price can be the number one factor on people using there services. If its too expensive, a family of 5 may not be able to take advantage of it.
Thank you, Samantha.
Brian Borzelliere- The four steps in the marketing process are product, price, place, and promotion. The goal of a product is to fulfill a consumer need that can enhance the consumer’s life in some way. This involves testing the concept online or in person. Also, coming up with a name for your product. Pricing involves many factors. Keeping up with competitors in your immediate area, offering high-quality products, and the overall costs of distribution, promotion, and production are key in determining a product price. Place is also a major portion of the marketing mix. For example, selling winter coats in southern Texas might not be a good idea. Instead, distribute more coats in Minnesota or in Aspen, Colorado. It all depends where your production is done. Investing in a middleman to bring your product to market is critical. Promotion is a series of techniques to inform your target audience where to buy your products or services. Coupons, rebates, and in-store promotions are tools used by sellers to entice consumers to purchase merchandise. Online purchasing is growing exponentially right now too, that is another avenue altogether.
My group company is Coca-Cola. In my opinion, product diversification against steep competition is a big component of their business model right now. So, they must do extensive research and product testing to determine if they should bring a new brand to market.
Thank you for sharing your insights, Brian. Coca-Cola is a great marketing model to follow and has set the trend for many to follow.
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Prof. KIshbaugh
In today’s economy, marketing plays a very important role in the success of a business. Without marketing, a company won’t get the attention of buyers that they would if they used some sort of marketing. Product, price, place, and promotion set the foundation for the marketing process. Though they do not include everything that goes on in the marketing process, it makes it more convenient. Before you do anything, you want to find opportunities, conduct research, and identify a target market.
Secondly, you want to focus your attention on the product. This involves designing a product based on the research you’ve conducted. There will also need to be some sort of product testing involved. Next, you want to deal with the price aspect of the marketing process. This includes coming up with the name for your brand. Also, designing a package and setting the price of your product. This step is vital, because this will determine if your product will appeal to the people.
Thirdly, you want to select a distribution system. Will your product need to be shipped to the customer? Or, will the customer be able to come to the product? This is very important information to think about when dealing with marketing. A customer may not think your product is worth the hassle of driving to get it. Lastly, the promotional aspect of the marketing process comes into play. You will need to design a promotional program associated with your product. This involves informing customers and potential customers of your products or services. Building a relationship with customers is also vital, because if a person feels more intimate with you and your business, they are more susceptible to continuing to buy products or services from you, versus another business they aren’t quite familiar with.
I feel that the most important step in my team’s company would be the promotion aspect. People all over the world are familiar with the Nike “swoosh”. They use a plethora of athletes that the average person idolizes to their advantage. A lot of us have heard the phrase “I want to be like Mike”, and to be like Mike, you would want to wear and do the things Mike does. If Nike stays on this path of promoting, they will be around for a years to come!
Great examples, Austin. Thank you.
The first step in the marketing process is to define the question, whether it be a problem or opportunity, and determine the present situation. The next step is to collect research data, then analyze that data. Lastly, choose the best solution and implement it. In the case of my team company BP, I believe at this time they need to take a step back into the collecting research phase and put together a few focus groups to determine why their company is not producing at its peak.
Great example for BP. After their crisis, they have a lot to look to.
Marketing Trends
The steps to marketing trends is good advertisment. You have to make sure what you are advertising stands out. Also you want to keep up with what in style. Look at other competors and see how you can Improve to increase your slaes. There are many important steps for your team company. One mean step is to have your team on the same page. Getting togther and have team meeting to discuss how to better your product and out do the competiors. Team compamys are also good because you get many diffirent oppions that will help make your product succefull. These day everything is about compotion. There are so many different brands out there that you have to do everything you can to stay on top of the compotion. So I think building a strong team well make your product very succesfull.
Thank you, Jonathan.
The steps of marketing:
1. Product – design a product to meet the need based on research, Do product testing
2. Price- Determine a brand name, design a package, and set a price.
3. Place – select a distribution system
4. Promotion – design a promotional program and build a relationship with customers
In my opinion the most important of these steps for my team company (Walt Disney World) is the Product. If you don’t have a good product to meet the need, something different from what everyone else has done then you don’t have much of a brand name and everything else that comes with it. The company has created a certain theme (Disney characters) which is what gives them their brand name, design package and were able to set their price. Also I think that using that theme of is a great way to promote what the company is all about.
Great post, Catherine. Disney also provides a great model for creating new marleting ideas.