“Put the right product in the right place, at the right price, at the right time.”

In marketing, revolves around the ‘4 Ps’ and the ‘2 Cs’.◦ Each ‘P’ and ‘C’ must be considered

Source: www.youtube.com/watch?v=ciSrNc1v17M&feature=fvw

1. Did you identify with any of the issues presented in the video? If so, which ones?

2. What present-day marketing ‘challenges’ could you identify in the video?

An organization will use

1.Name

2.Phrase

3.Design

4.Symbol

Either one of, or a combination of, these things will distinguish products from those of competitors

Create product image

Consumers will more easily identify the product or service

1. “Maybe she’s born with it ...”2. “Just do it”3. “They’re Grrrrrrrrreat”4. “It keeps going, and going, and going …”5. “Good to the last drop”6. “Like a rock”

What brands do we have on/with us in this classroom?

Why do we buy brands? Are brands better than non brands? How do marketers convince us that brands

are better than non brands?

Human characteristics associated with a brand

When consumers assign personality traits to products, they then tend to buy the products that are consistent with their own/desired image.

The added value that a brand name gives to a product beyond functional benefit

◦ Provides competitive advantage◦ Consumers are often willing to pay a higher price

– a premium for one brand over another

Resides in the minds of consumers, developed over time from what they’ve learned, felt, seen, and heard about a brand.

IBM Microsoft Visa Coca-ColaMcDonald’s Google AT&T MarlboroApple China Mobile

Rank Brand Brand Value ($m)

1 $185.1

2 $113.6

3 $112.5

4 $90.5

5 $78.4

6 $75.5

7 $69.9

8 $69.3

9 $56

10 $55.3

Apple

Google

IBM

McDonald’s

Coca-Cola

AT&T

Microsoft

Marlboro

Visa

China Mobile

Students must choose which product they will sell in summer of 2014. Write a story of how you will choose the target market, 4Ps and 2 Cs as you

plan for your summer business.