Mar­ket­ing – Cont’d

Jamaica Gleaner - - YL - YVONNE HAR­VEY Con­trib­u­tor Yvonne Har­vey is an in­de­pen­dent con­trib­u­tor. Send ques­tions and com­ments to kerry-ann.hep­burn@glean­erjm.com

HI. IT is so good for us to com­mu­ni­cate once again as we move for­ward in our quest to cover the prin­ci­ples of busi­ness syl­labus. As I men­tioned last week, mar­ket­ing is such an ex­ten­sive and very in­ter­est­ing area. This week we will look at cer­tain as­pects of mar­ket­ing, be­gin­ning with the con­cept of copy­right and end­ing with public re­la­tions. En­joy read­ing as you learn.

THE CON­CEPT OF COPY­RIGHT

A copy­right gives some­one the ex­clu­sive right to re­pro­duce and sell an item, for ex­am­ple, books and records. In other words, it al­lows one to main­tain own­er­ship and con­trol over the prod­uct that he/she has cre­ated and reg­is­tered. Con­sumers who pur­chase the prod­uct can­not re­pro­duce it for com­mer­cial pur­poses with­out the per­mis­sion of the pro­ducer.

Some pro­duc­ers are given spe­cial per­mis­sion or a patent to re­pro­duce the prod­uct. This is so in the case of the fran­chisee, who is given per­mis­sion by the fran­chiser to op­er­ate un­der his/her name and re­pro­duce the prod­uct in re­turn for a fee or roy­alty.

METH­ODS OF PRO­MOT­ING SALE 1. AD­VER­TIS­ING

Ad­ver­tis­ing may be re­garded as the art of putting the good and some­times the bad points about a good or ser­vice across to large num­bers of po­ten­tial or ex­ist­ing cus­tomers.

AD­VER­TIS­ING HAS MANY FUNC­TIONS:

It is an aid to trade – in­creased mar­ket share comes from stim­u­lated de­mand.

It is a means of com­pe­ti­tion against other sell­ers of sim­i­lar goods and ser­vices.

It brings buy­ers and sell­ers into close con­tact.

It in­forms – an­nounc­ing new prod­ucts and telling po­ten­tial con­sumers about them.

It helps to build a firm’s im­age around its prod­ucts.

It high­lights unique fea­tures of prod­ucts and con­vinces con­sumers to buy.

FORMS OF AD­VER­TIS­ING

(a) In­for­ma­tive – This is con­cerned with no­ti­fy­ing the gen­eral public about the ex­is­tence of cer­tain goods and ser­vices. It is nor­mally used as new prod­ucts are put on the mar­ket.

(b) Per­sua­sive – Most ads are of this type. Slo­gans, pic­tures and jin­gles are used to con­vince or co­erce con­sumers to buy the prod­uct. Ap­peals are used, for ex­am­ple, sex ap­pea when ad­ver­tis­ing cars, soap, cologne, al­co­hol, cig­a­rettes, etc.

(c) Com­pet­i­tive – This aims at de­fend­ing the value of the prod­uct against that of its com­peti­tors. The aim is to con­vince the po­ten­tial cus­tomer that this prod­uct is bet­ter than the oth­ers.

(d) Co­op­er­a­tive/Col­lec­tive – This is joint ad­ver­tis­ing by groups of com­pa­nies or in­dus­tries that pay jointly for the ad­ver­tis­ing. It tells the con­sumer to buy the prod­uct rather than a par­tic­u­lar brand, for ex­am­ple cheese, milk, etc.

(e) Spe­cialty – This is ad­ver­tis­ing in which very small but ex­pen­sive ob­jects or items, for ex­am­ple, T-shirts, pens, key rings, knives, nail clips, etc, are given away freely to per­sons. These items usu­ally have the names or ini­tials of com­pa­nies or firms on them.

(f) Re­minder – This is im­por­tant when a prod­uct is ma­ture, mean­ing it has been on the mar­ket for a long time, or there are sev­eral sim­i­lar brands on the mar­ket, for ex­am­ple, soft drinks.

SALES PRO­MO­TIONS

This refers to spe­cial buy­ing in­cen­tives for a par­tic­u­lar length of time. It usu­ally sup­ple­ments ad­ver­tis­ing and may it­self be viewed as a form of ad­ver­tis­ing. There are TWO ba­sic types: dealer pro­mo­tions and con­sumer pro­mo­tions. We are con­cerned with con­sumer pro­mo­tions. Tem­po­rary price re­duc­tions, e.g., $25 off. Buy one get one free. Giv­ing out coupon. These are found in news­pa­pers and mag­a­zines and are re­deemed at the counter, ei­ther for cash or dis­counts from the to­tal bill to be paid.

Trad­ing stamps. These are given freely to pur­chasers buy­ing a cer­tain amount of money’s worth of goods – one stamp for a cer­tain amount of money spent; book­lets of stamps are re­turned for goods or money.

Price packs, When goods are not sell­ing well, they are pack­aged with other goods and sold for a value price. Free gifts Sam­ples

Self-liq­ui­da­tion de­vices Con­sumers are asked to re­turn empty boxes, wrap­pers, tooth­paste tubes, etc., which al­lows them to get a re­duc­tion in the price of cer­tain items.

Loss lead­ers A loss leader is a pop­u­lar prod­uct that is sold be­low mar­ket price to en­cour­age cus­tomers to buy them and hope­fully pur­chase other goods that they see in the same store.

PUBLIC RE­LA­TIONS (PR)

Busi­nesses care about what the public thinks of them. There­fore, they will use a va­ri­ety of ways to try to in­flu­ence the public to have a high re­gard for them and their em­ploy­ees.

The process of get­ting the public to have a good im­pres­sion of a busi­ness is called public re­la­tions or good will. Public re­la­tions has to do with re­lat­ing the com­pany’s ac­tiv­i­ties to the gen­eral public in or­der to cre­ate a good im­age in the public eye.

THERE ARE TWO MAIN METH­ODS OF PUBLIC RE­LA­TIONS:

(a) Di­rect – This in­cludes do­nat­ing to char­i­ties, giv­ing away free sam­ples and gifts, prize-giv­ing com­pe­ti­tions, us­ing fa­mous per­son­al­i­ties to en­dorse the com­pany”s goods, invit­ing prospec­tive cus­tomers and old cus­tomers as guests to din­ner par­ties and lun­cheons, giv­ing spe­cial awards and spon­sor­ing com­mu­nity ac­tiv­i­ties.

(b) In­di­rect – This is through the way in which em­ploy­ees talk to po­ten­tial cus­tomers on the phone or at the shop counter, the way in which en­quiries or com­plaints are dealt with, the way in which af­ter-sales ser­vices are dealt with, etc. Cour­tesy and a will­ing­ness to help are very im­por­tant in the in­di­rect meth­ods of public re­la­tions. Most firms have a com­bi­na­tion of di­rect and in­di­rect PR.

Public re­la­tions is also a form of ad­ver­tis­ing and can also be re­garded as the ful­fill­ment of the so­cial func­tion of the firm.

That’s it for this week, my friends. Our next les­son with dis­cuss sell­ing and mer­chan­dis­ing and also con­sider the con­cept of ad­just­ment of pric­ing pol­icy. Take care un­til then.

ASH­LEY ANGUIN PHOTO

Rusea’s High’s Naz­ime Matalie (left) tack­les Brown’s Town High’s Franklyn Thomp­son for pos­ses­sion of the ball dur­ing their ISSA/FLOW DaCosta Cup foot­ball match at the Cather­ine Hall Sta­dium on Satur­day, October 14, in the sec­ond round. Brown’s Town won 1-0.

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