Marketing Activities BMI 3 C Marketing Activities n

Marketing Activities BMI 3 C

Marketing Activities n n n n n Research Product Development Packaging Pricing Branding Sales Distribution Inventory Management Storage Promotion

Research n Purpose: to learn about the market q q n Consumer preferences, habits, lifestyle Competitors Examples: q q q Surveys Media research Focus groups

Product Development n Purpose: Make a product that effectively and profitably meets the needs/wants of consumers

Packaging n Must provide protection for the product while also serving as a promotional tool q q Package must be attractive/enticing to the consumer Must also obey government regulations

Pricing n Setting the price of a product/service in order to maximize profit for the company q n The lowest price is not always the best Based on q q Cost to produce and market the product What the customer is willing to pay Competitor pricing Brand image

Branding n n Creates an identity in the mind of consumers Key components: q q Trademark Logo Slogan Package design

Sales n n Convincing potential customers to purchase your product/service Goal is to increase the size of your market q Acquire new customers while retaining old ones

Distribution n Moving products to their final destination q n From the manufacturing plant, to distributors, to retailers Must be done efficiently and inexpensively

Inventory Management n Retailers must make sure they have enough product on hand to meet demand, but not too much q Don’t want to have more products than you can sell n n n Products take up space Older products become difficult to sell Must also keep track of inventory so you know when to order more, are aware of thefts, etc.