relations is a key component of a successful marketing campaign, so it's
essential that PR professionals speak the language of marketers.
Just a dozen or
so terms and concepts get to the very heart of marketing. If you can wrap
your mind and mouth around the basics, you'll be able to better hold your
own in meetings where colleagues may try to score points with their own
mastery of the lingo.
Here's a brief
over of marketing fundamentals, illustrated with a video clip below
demonstrating the concepts at work.
THE FOUR P's OF MARKETING
Product: goods and services,
whether bottled water or car insurance. This ‘P’ includes a
product’s design and development, as well as its branding and
Place (or distribution): where a
product or service is offered for sale, and how it gets there. This is
how the product gets moved from the producer to the consumer.
Price: at what charge the
product/service is offered for sale.
Promotion: this how you let the
consumers know about your product for sale. This is done through
advertising, personal selling, sales promotions, direct marketing, and
FOUR C’s OF CONSUMER-SIDE MARKETING
Customer Value: 'product'
benefits from the buyers point of view.
Cost to the Customer: 'price'
plus the customer's costs such as travel, shipping
Convenience for the buyer: how
easy is it to complete a transaction?
Communication: a two-way
dialogue -- not just one-way 'promotion'
TARGETING AND POSITIONING
Differentiation from Competitors:
how different are you from everybody else?
Value Proposition: what value
do you have to offer?
Product Dimensions: just what
all does your product do?
Who are you positioning your
Segmentation: the key
demographics you hope to reach
KEY TARGET MARKET DEMOGRAPHICS
A brand is any name, term, sign,
symbol, or design intended to differentiate the goods or services of
one seller from those of another. An important aim of branding is to
create a relationship with your customers, so their life feels more
complete because you’re in it.
What is your share of the available
marketplace, or how big is your piece of the pie?
These fundamentals and more
are illustrated in the clip below.
Fundamental Marketing Terms & Concepts
Van Hook has taught MBA and
and communications courses for colleges and universities in the
United States and abroad for more than a decade, and has
developed more than a dozen courses with an international focus. http://howtomarketing.us