MARKETING - ADVERTISING

Marketing is a method to identify, anticipating and satisfy the costumers' needs.

To survive in a competitive business world, companies need to be able to identify the costumers' needs and to provide the goods and services to satisfy these needs.

The market research is the process to obtain and analyse information about the market and this information can be used to help the company aim its products at a specific target or sector of market.

The market research analyses:

geographical location of the potential market and its size

market trends

local regulations and legislations

competitors' activity, strategy and performance

costumer's profile

costumer's needs

Information can be collected from:

official statistic

market research organisation

interviews and questionnaires

The Marketing Mix is the combination of the different element of a company's marketing and included Product, Price, Place and Promotion

PRODUCT DEVELOPMENT

All details about the nature of the product: type, size, quality, name, design.

PRICE

The price at which the product will be sold depends on the type of price that the company decides to follow:

cost-based pricing

customer-oriented pricing

competitor-oriented pricing

PLACE

This refers to the channel of distribution chosen by a company to launch its product in the market through wholesalers, retailer or through the Internet.

PROMOTION

The means through which the customers know about the products.

There are different methods of promoting

sale promotion - give incentives

personal selling - use of sale representatives and agent

direct mailing - send information by post

sponsorship - companies sponsor events, teams, programmes

advertising - to draw the attention of costumers

trade fairs - opportunities to make new contacts and generate new sales

Trade fairs is an expensive methods of promotion.

But there are also many advantages for a company:

expose its products to a wide range of potential customers

sell its product

acquire contacts that will turn into opportunities for future sales or deals

launch new products

carry out market research

change/enhance its image

size up the competition

And also for the visitors:

approach new suppliers

discuss products and services with experts in the field

buy or order products

receive special offers and free gifts

Advertising is a form of promotion that is used both to increase the sales of an existing product, and also to promote new product and services.

The most popular advertising media are:

television

radio

press

posters, billboards, electric signs

The most difficult task for the advertiser is to make sure that consumers remember the message of his adverts.

Advertising messages can be classed in three types:

persuasive - to create in the potential customer the desire to buy a product

informative - to give information in the public interest

competitive - to buy a certain brand of product rather then one of the competition

other methods used to make their advert memorable and persuasive are:

visual images

slogans