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MARKETING

Discover the essential strategies behind the 4 Ps of marketing—Product, Price, Place, and Promotion. Learn how to define your product, select a compelling brand name, and create appealing packaging. Understand pricing strategies that attract customers, from premium pricing to discounts, while staying aware of your competition and target market. Boost your sales with effective storefront displays, enticing promotions, and a strong unique selling proposition. Equip yourself with tools to build customer relationships and handle objections, ensuring a satisfying buying experience.

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MARKETING

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  1. MARKETING DISCOVERING and SATISFYINGconsumer needs Makes selling EFFECTIVE through… 4 Ps of Marketing

  2. 30%!

  3. Product P _ _ _ _ _ _

  4. Price P _ _ _ _

  5. Place P _ _ _ _

  6. Promotion P _ _ _ _ _ _ _ _

  7. Product? • What is the product that you are intending to sell? • What is the product going to be called? • Will there be product variety? • How will the product look like?

  8. Choosing a good brand name Suggest product benefits Simple and Emotional Memorable, distinctive, positive

  9. Product Variety B A

  10. Packaging Your Product

  11. What approach to use? Set the price high? Make sure the customers you are targeting are willing to pay for a high price Customers may perceiveproduct to be of high quality due to high price

  12. What approach to use? Set the price low? Appeals to mass market Are the consumers price-conscious?

  13. How to attract customers? Odd-even Pricing

  14. How to attract customers? Bundle Pricing

  15. Understanding Your Environment Competitors Potential Customers

  16. Storefront Display

  17. Storefront Display HOURLY SPECIAL

  18. Storefront Display

  19. Discounts Coupons Lucky Draws Deals (Bundle Pricing) Samples

  20. Checklist: Selling your product • Attract your customers • Samples / Free Trial / Live Demo • Know your product well • Promote UNIQUESELLING POINT • Respond to questions or negative feedback politely

  21. Personal Selling • Build customer relationships • Stimulate interest in the customer by selling your way to the top • Handle objections Give them the REASON to buy from you

  22. Handling the customer • How to handle customer’s objections? • Acknowledge and convert the objection • Agree and neutralise • Accept the objection • Denial

  23. Keeping track of sale Float $10.00 x _____ = $5.00 x _____ = $2.00 x _____ = $1.00 x _____ = $0.50 x _____ = $0.20 x _____ = $0.10 x _____ = $0.05 x _____ = Total : ________ Keep a clear record of how much you have at the STARTand ENDof the day.

  24. SUMMARY • Know your product well • Promote your product’s unique selling point • Make your store eye-catching • Package your product attractively • Set attractive prices • HAVE FUN!

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