Real World Marketing

     Starbucks is a good example of real-world marketing. They really work  hard to please their customers. They are now allowing customers to make their own custom drinks. They have  removed the breakfast sandwich not only because of the cost involved, but also because the smell interfered with their core product, which is coffee.
      Chick-fil-A started a new trend when they took a stand on the social issue of same sex marriage. They come out with the statement that they agree with the biblical version of what a family should be. Great for them! Everyone should be honest with what they believe in. Dan Cathy's statement differentiates the Chick-fil-A chain from others on this social issue. I do  not think it hurt their business at all. I would say it  only made them more popular. They are always busy. Hats off  to Chick-fil-A. They not only have excellent service and good food, but they believe in expressing their Godly belief! They also promote a great place to work.

      I found this on pharmaceutical marketing that is very interesting. There is a lot more to the article if  anyone would like to read more about this.

 http://en.wikipedia.org/wiki/Pharmaceutical_marketing

Pharmaceutical marketing

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The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject. Please improve this article and discuss the issue on the talk page. (June 2011)

Pharmaceutical marketing, sometimes called medico-marketing or pharma marketing in some countries, is the business of advertising or otherwise promoting the sale of pharmaceuticals or drugs.
Many countries have measures in place to limit advertising by pharmaceutical companies.
Pharmaceutical company spending on marketing far exceeds that of its research budget.^[1][2] In Canada, $1.7 billion was spent in 2004 to market drugs to physicians; in the United States, $21 billion was spent in 2002.^[3] In 2005, money spent on pharmaceutical marketing in the United States was estimated at $29.9 billion with one estimate as high as $57 billion.^[2] When the U.S. numbers are broken down, 56% was free samples, 25% was pharmaceutical sales representative "detailing" (promoting drugs directly to) physicians, 12.5% was direct to user advertising, 4% on detailing to hospitals, and 2% on journal ads.^[3] There is some evidence that marketing practices can negatively affect both patients and the health care profession.

Marketing Ideas By Jay Levinson

The Essentials of Guerrilla Marketing

Implement these building blocks to create a successful campaign. The Best Marketing Ideas of the Week

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Jay Conrad Levinson

Content marketing

Presented by PlayStation Store

April 30, 2008

As marketing continues to change, the secrets of guerrilla marketing continue to change. There are 18 guerrilla marketing secrets, and they guarantee you will exceed your most optimistic projections.
Memorize these words, then live by them. I'm giving you a memory crutch so that you'll never forget these major guerrilla marketing secrets. All these words end in "-ent." Run your business by the guerrilla concepts they represent and reap the rewards.
Commitment
You should know that a mediocre marketing program with commitment will always prove more profitable than a brilliant marketing program without commitment. Commitment makes it happen.
Investment
Marketing is not an expense, but an investment--the best investment available in business if you do it right. With the 18 secrets of guerrilla marketing to guide you, you'll be doing it right.
Consistent
It takes awhile for prospects to trust you. If you change your marketing, media and identity, you're hard to trust. Restraint and repetition are two great allies of the guerrilla.
Confident In a nationwide test to determine why people buy, price came in fifth, selection fourth, service third, quality second, and, in first place, people said they patronize businesses in which they have confidence.
Patient Unless the person running your marketing is patient, it will be difficult to practice commitment, view marketing as an investment, be consistent, and make prospects confident. Patience is a guerrilla virtue.
Assortment
Guerrillas know that individual marketing weapons rarely work on their own, but marketing combinations do work. A wide assortment of marketing tools is required to woo and win customers.
Convenient
People know that time is not money--it's far more valuable than money. Respect this by being easy to do business with and running your company for the convenience of your customers, not yourself.
Subsequent
The real profits come after you've made the sale, in the form of repeat and referral business. Non-guerrillas think marketing ends when they've made the sale. Guerrillas know that's when marketing begins.
Amazement
There are elements of your business that you take for granted, but prospects would be amazed if they knew the details. Be sure your marketing reflects that amazement.
Measurement
You can potentially double your profits by measuring the results of your marketing. Some weapons hit bull's-eyes. Others miss the target. Unless you measure, you won't know which is which.
Involvement
This describes the relationship between you and your customers--and it is a relationship. You prove your involvement by following up; they prove theirs by patronizing and recommending you.
Dependent
The guerrilla's job is not to compete but to cooperate with other businesses. Market them in return for them marketing you. Set up tie-ins with others. Become dependent to market more and invest less.
Armament Armament is defined as "the equipment necessary to wage and win battles." The armament of guerrillas is technology: computers, current software, cell phones, pagers, fax machines. If you're technophobic, see a techno-shrink.
Consent
In an era of non-stop interruption marketing, the key to success is first to gain consent for your marketing materials and market only to those who have given you that consent.
Augment
To succeed online, augment your website with offline and online promotion along with constant maintenance of your site.
Content
Don't believe that old adage, "Sell the sizzle, not the steak." Sophisticated consumers these days know the sizzle from the steak and prefer the steak every time. Your substance, not your style, will carry the day for you.
Implement
It's not enough for you to know these 18 secrets. The key is to take action on them, all of them.
Congruent
Be certain that all your marketing is saying the same thing and pulling in the same direction. Don't undermine what you do with marketing that marches to the beat of a different strategist.
These concepts are the reason many startup guerrillas now run highly successful companies. They are the cornerstone of guerrilla marketing. They might look like just words, but each one is nuclear-powered and capable of propelling you into the land of your dreams

Promotional Mix

Everyone has to consider what promotional mix will be the best in marketing their own product. We have Black Friday and Christmas coming up which has many coming up with new ideas to get you to spend your money on their products. It is a real interesting time of year to see what is next for many companies. Mailboxes are full of promotions and sales on just about anything you can imagine. Television has new commercials just for the holidays. (Fresh baked turkeys are the in thing right now.) What a great time of year! We get to see new products we have never seen before, because of all the extra advertising. People get products they thought they would never own for Christmas. People need to be wise when shopping during the holidays. They can get caught up in all the excitement and spend more than they should for things they do not need. It is up to the companies to grab your attention with their advertising.

E-Marketing

E-Marketing is very useful in getting information about your company to a enormous amount of people quickly. Like most things you need a plan to develop your E-Marketing strategy. This can take a little time, but it will be rewarding when it is done.
6 Key Benefits of a Strategic E-Marketing Plan are:
Building Visibility & Brand Awareness
Gaining Wider Target Audience
Customer Acquisition
Lower Marketing Cost
Trackable and Measurable Results
Customer Retention
There are professional people that can help businesses decide on which e-marketing strategy is best for their company.

Market Penetration

I found this article to be informative on Marketing.                                                                                            Market Penetration Strategy

Posted by kasi on March 8, 2010

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A market penetration strategy seeks to increase market share of the current product or services in the existing market. This strategy adopted by the firms to raise their sales revenue without making changes in the products or services. The other dimension of market penetration is the existing market which means firm already offering products or services to the customer but can forecast that the existing sales figures can be improved by working on marketing penetration strategy.

Market penetration strategy can be implemented by offering sales, Increasing sales force, increase distribution and promotion of products, more expenditure in marketing and advertising activities will results in increasing sales. It is not guaranteed that market penetration fully works after investing in sales and marketing of products and services, a firm should go for this strategy only if any below of the desirable situation exists.

- Current market is not fully saturated.

- Market share of the competitors are decreasing whereas the industry growth rate is increasing.

- Existing buyers have the potential to purchase same products and services in more quantity.

- When economies of scale provides competitive edge.

All the above conditions gives green signal to the firm to go ahead with market penetration strategy.

Market Penetration Examples

- Airtel promoting its services to penetrate in the Indian market.

- Pizza hut offering discounts to the customers at night to increase the sales and each customer purchase value.

- Mobile service providers offering low price packages to increase talk time of the 

Location

 Some people think that a Wal Mart will hurt small businesses, but it seems that a lot of different businesses like to open close to a Wal Mart. If a business is close to Wal Mart they might get recognized quicker than if they were not close. Location when starting a new business is something that business owners have to research to find the perfect place to start their new business. To be considered a good location they have to factor in what kind of business or product they want to sell. Like, most businesses that want to be near Wal Mart is gas stations and fast food places. People need these two things after a shopping spree at Wal Mart.
 I found this article on the internet. I have posted the address in case someone might want to read the complete article. I think these are a few important thinks to consider before starting a business.

Determine Your Needs
Most businesses choose a location that provides exposure to customers. Additionally, there are less obvious factors and needs to consider, for example:

• Brand Image – Is the location consistent with the image you want to maintain?
• Competition – Are the businesses around you complementary or competing?
• Local Labor Market – Does the area have potential employees? What will their commute be like?
• Plan for Future Growth – If you anticipate further growth, look for a building that has extra space should you need it.
• Proximity to Suppliers – They need to be able to find you easily as well.
• Safety – Consider the crime rate. Will employees feel safe alone in the building or walking to their vehicles?
• Zoning Regulations – These determine whether you can conduct your type of business in certain properties or locations. You can find out how property is zoned by contacting your local planning agency.

http://www.sba.gov/content/tips-choosing-business-location

  

Pricing in Marketing

 I found this article on line. It gives and explanation for different pricing. This is one of the most important aspects of business. You have to be able to cover cost, and make a profit if you want your business to stay strong. You have to be ahead of other bussisness.

THE MARKETING MIX
PRICING STRATEGIES Mobile Edition Related Links: Pricing | Place | Promotion | Service Marketing Mix | Emarketing Mix

Introduction

Pricing is one of the most important elements of the marketing mix, as it is the only mix, which generates a turnover for the organisation. The remaining 3p’s are the variable cost for the organisation. It costs to produce and design a product, it costs to distribute a product and costs to promote it. Price must support these elements of the mix. Pricing is difficult and must reflect supply and demand relationship. Pricing a product too high or too low could mean a loss of sales for the organisation.

Pricing Factors

Pricing should take into account the following factors into account:

1. Fixed and variable costs.
2. Competition
3. Company objectives
4. Proposed positioning strategies.
5. Target group and willingness to pay

An organisation can adopt a number of pricing strategies, the pricing strategy will usually be based on corporate objectives.

Types of Pricing Strategy

	Pricing Strategy	Definition	Example
	Penetration Pricing	Here the organisation sets a low price to increase sales and market share. Once market share has been captured the firm may well then increase their price.	A television satellite company sets a low price to get subscribers then increases the price as their customer base increases.
	Skimming Pricing	The organisation sets an initial high price and then slowly lowers the price to make the product available to a wider market. The objective is to skim profits of the market layer by layer.	A games console company reduces the price of their console over 5 years, charging a premium at launch and lowest price near the end of its life cycle.
	Competition Pricing	Setting a price in comparison with competitors. Really a firm has three options and these are to price lower, price the same or price higher	Some firms offer a price matching service to match what their competitors are offering.
	Product Line Pricing	Pricing different products within the same product range at different price points.	An example would be a DVD manufacturer offering different DVD recorders with different features at different prices eg A HD and non HD version.. The greater the features and the benefit obtained the greater the consumer will pay. This form of price discrimination assists the company in maximising turnover and profits.
	Bundle Pricing	The organisation bundles a group of products at a reduced price. Common methods are buy one and get one free promotions or BOGOF's as they are now known. Within the UK some firms are now moving into the realms of buy one get two free can we call this BOGTF i wonder?	This strategy is very popular with supermarkets who often offer BOGOF strategies.
	Psychological Pricing	The seller here will consider the psychology of price and the positioning of price within the market place	The seller will therefore charge 99p instead £1 or $199 instead of $200. The reason why this methods work, is because buyers will still say they purchased their product under £200 pounds or dollars, even thought it was a pound or dollar away. My favourite pricing strategy.
	Premium Pricing	The price set is high to reflect the exclusiveness of the product.	An example of products using this strategy would be Harrods, first class airline services, Porsche etc.
	Optional Pricing	The organisation sells optional extras along with the product to maximise its turnover. T	This strategy is used commonly within the car industry as i found out when purchasing my car.
	Cost Based Pricing	The firms takes into account the cost of production and distribution, they then decide on a mark up which they would like for profit to come to their final pricing decision.	If a firm operates in a very volatile industry, where costs are changing regularly no set price can be set, therefore the firm will decide on their mark up to confirm their pricing decision.
	Cost Plus Pricing	Here the firm add a percentage to costs as profit margin to come to their final pricing decisions.	For example it may cost £100 to produce a widget and the firm add 20% as a profit margin so the selling price would be £120.00