Business English Vocabulary VV 46: Marketing Mix 4 P's (2) - English for Marketing
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Today, we're going to look at the marketing mix which is made up of the four ps of marketing
product price place and promotion
We'll look at the idea of placement
Which is all about a products market coverage and how it gets to market through logistics and a Company's
distribution channels the final P is
Which may involve public relations and marketing?
Place and placement are about where customers can buy a company's products
Placement also means how the company moves its products to places where customers can buy them?
Only 25% of our business comes from retail placements while the other 75 comes through online sales
distribution Channels distribution channels
Distribution channels are the paths that products follow from a company to its customers?
These channels might include distributors wholesalers retailers and the internet
As we focus on fresh organic produce we have separate distribution channels for Central and Southern Europe
Logistics is all about how resources and goods are bought moved and stored
This involves coordinating both
materials the company needs to produce a product and the movement of the product to customers
Recent improvements in Logistics have allowed forest Inc to save 30% on transportation costs
A company's market coverage is the amount of sellers in a particular market that sell the Company's products
We can also talk about market coverage for promotional activities
Our canned soup is currently sold in only a few stores, but we hope to achieve
75% Market Coverage Within three years
Promotion includes all the ways in which companies tell customers about their products
Chocolate and greeting card companies increase their promotional activities in the month before Valentine's day
Advertising is often done through television
Managing public opinion and the reputation of a company and its products is called public relations
unlike advertising public relations
Relies on methods that do not require payment such as press releases and press conferences
A large part of kia's public relations strategy involves sponsoring major sporting events
Large-scale planned marketing effort to promote a company or its products is called a campaign
A promotional campaign might include paid advertising public relations and special events
Effective advertising campaign might include ads in several media such as television
in store promotion in store promotion
Activities that promote a product or company at a retail location are called in-store promotions
This may include special offers demonstrations displays and free samples
Rather than just giving [discounts] on key products for our in-store promotions. How about giving out some samples as well
Now it's your turn to practice some of the words. We've looked at in this lesson in a moment
You'll hear a series of sentences with a word replaced with a beep repeat each sentence
For example [if] you hear I think we should try a penetration
strategy for our new line of toys
You can say I think we should try a penetration pricing strategy for our new line [of] toys
We'll provide the correct answer after each question ready. Let's give it a go
We're looking for a public expert who can write press releases and talk to the Media
Answer, we're looking for a public relations expert who can write press releases and talk to the Media
Instead of using catalogs large retailers now use the internet as a direct distribution
Answer instead of using catalogs large retailers now use the [internet] as a direct distribution channel
This new deal with Amazon is going to greatly expand our overall market
Answer this new deal with Amazon is going to greatly expand our overall market coverage
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