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Enabling a Marketing Mix Using the Four P’s. Adapted from a presentation made by Susan Wolf Neilson and Steve Cramer at the Business Librarianship in North Carolina 2004 Prepared by Dr. Maurice Shihadi.

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Enabling a Marketing Mix Using the Four P’s

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Enabling a marketing mix using the four p s l.jpg

Enabling a Marketing Mix Using the Four P’s

Adapted from a presentation made by Susan Wolf Neilson and Steve Cramer at the Business Librarianship in North Carolina 2004

Prepared by Dr. Maurice Shihadi


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Scenario: Maurice wants to open an Internet café in Charlotte, North Carolina in the 28202 zip code area. He needs to use the Internet to conduct market analysis concerning the best marketing mix for his product.


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Market Analysis: the 4 P’s

ProductPlacePromotion Price


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4 P’s: the Marketing Mix


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PRODUCT: Market Trends

  • Gateway to Associations

    http://www.asaecenter.org/Directories/Supply.cfm?type=search

  • Google search:

    coffee “market trends”

  • Articles from full text library databases (ABI-INFORM, Business Source Elite, InfoTrac Onefile)

    Example search:

    (internet or wireless) and cafe and

    market* and trend*

  • Articles from full text library Databases

  • Web Directories for Industries

    About.com: Retail Industry


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“GATEWAY TO ASSOCIATIONS”


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“SPECIALTY COFFEE ASSOCIATION”


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National Coffee Association

http://www.ncausa.org/


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http://www.beantrends.com/news.html


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ABI/INFORM Database (NC LIVE)


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…35% of restaurants and cafes will provide wireless internet access to customers by 2007.


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“Not surprisingly, today's most devoted coffee shop patrons are 18- to 34-year olds and those with annual incomes over $75,000. Forty-two percent of 18- to 34year-olds and 46 percent of those who earn more than $75,000 say that when they drink coffee away from home, they head straight for Starbucks-like shops, compared with just 32 percent of all away from-home coffee drinkers.

The younger folks are attracted to the coffee-bar atmosphere, music selections and what tends to be a younger customer base, according to the report, while the wealthy simply want the best.

Forty-two percent of adults in the highest income bracket agree that coffee shops sell better coffee than other places, compared with 34 percent of the total adult population.

But these demographics make up just a sliver of the potential coffee shop consumer market. Almost 7 in 10 Americans (66 percent) drink coffee away from home at least occasionally, according to Mintel's survey, while only a third frequent gourmet java shops. The report does not suggest that the coffee shops' young, wealthy core consumer group is going to jump ship anytime soon, but instead implies that to grow business, coffee shops may want to cater to other demographics or socioeconomic groups.”

--American Demographics–

ABI/INFORM


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Business Source Elite


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InfoTrac

New York Times thru ProQuest


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http://retailindustry.about.com/


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1b) PRODUCT: Competition

  • Web Directories

    Google -- “Cyber Cafes”

    “Internet Cafes Charlotte North Carolina”

  • Web sites - BizJournals

    http://charlotte.bizjournals.com/charlotte/

  • Hoover’s Company Records

  • ABI/INFORM Dateline


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http://phonebook.superpages.com/yellowpages/


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Found using http://www.bizjournals.com


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Hoovers from MC Database


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1c) PRODUCT: Industry data

  • NAICS: North American Industrial Classification System

    • “the new SIC”

    • Used by the Census to study and organize U.S. industry data

    • NAICS codes are searchable from

      http://www.census.gov/epcd/www/naics.html


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Lots of hits: this NAICS # looks closest


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Provides benchmark data

on coffee shops, including the number of shops selling certain items, and total sales of those items.

NAICS # (extra digit!)


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Census data for a region:

County Business Patterns

Provides data at the state,

county, zip code, and MSA

level.


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Provides the total number of companies/per NAICS code

in that area, and company size by employee:

The “Compare” button lists the data for this NAICS codefor all Charlotte zip codes.


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Summary on first “P” PRODUCT

  • Trade Associations

  • White Papers

  • Industry Reports

  • Newspaper and Magazine Articles

  • Census industry data via NAICS codes

  • ReferenceUSA (http://www.referenceusa.com/); or

  • Duns Million Dollar Database (http://www.libraries.iub.edu/index.php?pageId=400&resourceId=500453)


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2) PLACE

Demographics

  • Pre-formatted lists

  • Census.gov


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Demographics: 2a) Pre-formatted Lists

1. Economic Development Information System

http://cmedis.commerce.state.nc.us/

Provides 2-page profiles of counties and regions from the State Department of Commerce (designed more for companies considering moving to NC)


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  • 2. Charlotte Regional Development

  • http://www.charlotteusa.com/crp/

    • Provides more detailed data for all the counties in this area:


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Demographics: 2b) Census.gov

American FactFinder:

Or use the Data Sets link on the left if you prefer buildingyour own tables.


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A sample of the tables available

from our American FactFinder zip code search:

Of course, our entrepreneur may want data on the

whole city, since local residents won’t be the onlycustomers of the Internet café.


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Census

maps byhouseholdincome:


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Summary: Second “P” PLACE

  • Lots of demographic data available for free

  • Can be simple pre-formatted lists or the results of your own dataset search

  • LINC: Log Into North Carolina is another good source: http://linc.state.nc.us/


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3) Promotion

  • Media

  • The Message

  • Advertising

  • Personal Selling

  • Public Relations

  • Budget


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Radio Advertising Bureau http://www.rab.com

NEWSPAPER READERS

FAST FOOD USERS

TV VIEWERS

COOKIE CONSUMERS

COFFEE USERS


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To Spring ‘04

http://www.arbitron.com


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Summary: Third “P” PROMOTION

  • Media research sources like Arbitron.

  • Local newspapers: info for advertisers.

  • Articles about trends and ideas in advertising could help, too.

  • Most bigger reference departments have directories of media outlets; some have advertising rates books like from SRDS - http://www.srds.com


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4a) PRICE: Consumer Spending

  • Consumer Expenditure Survey

  • Consumer Confidence

  • Industry Benchmarking

  • Market Pricing


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Consumer Expenditure Survey

Consumer Expenditure Survey

http://www.bls.gov/cex/home.htm


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Consumer Expenditure Survey

http://www.bls.gov/cex/home.htm


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The Conference Board Consumer Spending Trends -- Household Spending

http://www.conferenceboard.org/


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4b) PRICE: Industry Benchmarking

  • U.S. Census reports

    Annual Benchmark Report for Retail Trade and Food Services (again!)

    Geographic Series – Accommodation and Foodservices – State Summaries

  • Consumer Price Index


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North Carolina 1997 Economic Census

Accommodation and Foodservices

Geographic Area Series

http://www.census.gov/prod/ec97/97r72-nc.pdf


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4c) PRICE: Market Pricing

Internet, coffee, other food, lease prices

  • wholesale

  • retail


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  • The share of each market in the four groups is as follows:

  • Colombian Milds: 30% New York – 70% Germany

  • Other Milds: 40% New York – 60% Germany

  • Brazilian Naturals: 80% New York – 20% Germany

  • Robustas: 25% New York – 75% France

International Coffee Organization http://www.ico.org


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InfoTrac Onefile, Newspaper Source, Academic Search Elite


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Summary: Fourth “P” Pricing

  • Primary sources may work here - visiting competition, taking surveys.

  • Associations will help find wholesale pricing.

  • Pricing also will involve what the market can bear (consumer confidence, expenditures).

  • Government agencies will have statistics/reports on prices (imports for coffee), labor, expenditures, & sales.


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The End


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