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Economics Chapter 11

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Economics Chapter 11 Marketing and Distribution Section 1: The Changing Role of Marketing The development of Marketing Generate consumer demand Consumer Sovereignty ... – PowerPoint PPT presentation

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Title: Economics Chapter 11


1
Economics Chapter 11
  • Marketing and Distribution

2
Section 1 The Changing Role of Marketing
  • The development of Marketing
  • Generate consumer demand
  • Consumer Sovereignty- consumer as ruler
  • Utility- ability to satisfy customer wants
  • Form Utility
  • Place Utility
  • Time Utility
  • Ownership Utility

3
Market Research
  • Gather, record, and analyze data on what people
    want.
  • When Should it be done?
  • Initially with the idea
  • Later to test sample products or packaging
  • Market Surveys
  • Who might use your product
  • Questionnaires made up

4
Testing New Products
  • Test marketing
  • Offering the product in a small area.
  • Try different prices
  • Ad campaigns
  • Most new products do not make it

5
Section 2 The Marketing Mix
  • Market Strategy- how to sell effectively
  • The Four Ps of Marketing
  • 1. Product
  • What accompany is there. Warranty
  • Packaging- product identification
  • 2. Price
  • Penetration Pricing- low initially
  • Coupons
  • Price leadership- One lowers, all lower

6
The Four Ps of Marketing
  • 3. Place
  • Where to sell, regionally and in a store
  • Online, specialty shops, by mail etc.
  • 4. Promotion
  • Inform customers
  • Billions spent yearly
  • Who to target, teens teen magazines

7
Product Life Cycle
  • Introduction- Explain and heavily promote.
  • Growth- Higher prices
  • Maturity
  • Decline- Redesign packaging or find new uses.

8
Section 3 Distribution Channels
  • Channels of Distribution- How to move your goods
  • 1. Wholesalers- Buy large amounts and sell to
    businesses.
  • 2. Retailers- Direct sale to consumer
  • E-commerce, online sales. Growing
  • 3. Storage and Transportation
  • On hand stock, method to move

9
Other Distribution Channels
  • Club Warehouse Store
  • Fee to join
  • Buy in bulk, bring down prices
  • Direct Marketing
  • Catalogs
  • Internet
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