11. Devising The Marketing Strategy Flashcards
What are the 5 P’s
Product Price People Place Promotion
What is the definition of product?
An object, service or system that is being marketed, wine is an object. It includes the liquid itself, all packaging and branding.
What is the price?
The amount which a consumer pays for a product, it is not just the price of the object it includes any additional costs such as delivery and discounts
What is the people element?
It is often interpreted in different ways -
- to some it will mean the attitudes and behaviours of the target consumer
- refers to the relationship between the company, its staff, its partners and its customers,
What does place refer to?
Where the product is actually sold
How can markets be categorised by their maturity?
Mature market Established market Growth market Emerging market New emerging market
What is a mature market?
Where wine appears to have reached its potential with stable or declining volumes.
What are some examples of a mature market?
Germany, France, Switzerland, UK
What is a established market?
With a strong historical growth which is tailing off.
What are some examples of an established markets.
Ireland
South Africa
Italy
Hong Kong
What is a growth market?
Where wine is a mainstream product and/or experiencing growth
What are some examples of a growth market?
USA
Canada
Brazil
Poland
What is a emerging market?
Where wine is experiencing growth and shows potential from a relatively low base.
What are some examples of an emerging market?
China
Russia
Turkey
Taiwan
What is a new emerging market?
Where wine is still a relatively new and unknown beverage, but showing some potential.
What are some examples of a new emerging market?
India
Malaysia
Philippines
Thailand
What two categories can promotional activities be put in to?
At the point of sale
Away from the point of sale
What are some options for point of sale promotions?
Price promotions Free merchandise Limited edition packaging/presentation Competitions Consumer tastings Staff training and incentives
What are some examples of price promotions?
Specific amount, percentage discount
Seasonal sales
Discount on certain days
Discount for certain groups of people
Multi buy or volume discounts
What are some options for away from point of sale promotions?
Advertising Sponsorships Websites Social media Smartphone app Wine tourism Events and festivals Reviews and awards Public relations
What are some options for advertising?
Television or cinema Radio Press advertising Online Billboards
What some PR activities?
Representatives of the company attending public events or appearing on tv/news/radio
Press releases
Newsletter
Social media
