Principles of Marketing MAR 3802 Online Discusion: Submission Preview

The submissions for this assignment are posts in the assignment's discussion. Below are the discussion posts for Sofie Micklisch, or you can view the full discussion.

Sofie Micklisch

Principles of marketing discussion

Florida SouthWestern State College

The four P’s of marketing are product, price, place, and promotion (Iacobucci, 2013). The principles of marketing described in the video are specialization, differentiation, segmentation, and concentration (Tracy, 2011). In marketing, the four P’s all have all focus on various tactics geared towards the customer (Iacobucci, 2013). These four P’s are what a company needs to be competitive in the market. Product represents what the company is going to produce, price represents what the company will charge for this product, place is where the product will be sold, and promotion is what the company will do in order to get customers to buy the product (Iacobucci, 2013). The principles in the video are similar to the four P’s.

In the video, the four principles mentioned talk about where you want to focus all of your efforts on, your competitive advantage and unique selling proposition, your very best customers and their demographics, and where you focus your time, money, and resources (Tracy, 2011). Place and segmentation are similar in that they both deal with demographics and were the product should be sold (Tracy, 2011). Concentration and promotion are similar in that they talk about investing and getting customers to buy the product (Tracy, 2011). Product and specialization are a little similar. Product does not just have to deal with a physical product, but it can also be a service provided (Tracy, 2011).

The four principles of marketing described in the video can be more applicable to the four P’s, but they are almost alike. The four principles go into slightly more depth by describing how to segment, concentrate, specialize, and differentiate (Tracy, 2011). Price can be part of the unique selling proposition because a service has to be charged a certain way (Iacobucci, 2013). These four principles can be used in both clicks and clicks and bricks marketing. Clicks and bricks marketing have one advantage over just clicks because the customer gets to try out the product before they buy it (Clark, 2013). The customer also gets what they want when they want it. Online retailers are not as personable to their customers as a store would be. A clicks and bricks marketer can socially engage with their customer, while a clicks marketer is not as personable (Clark, 2013). Clicks are bricks marketing can also set a place in stone, but clicks marketers just have the online server (Clark, 2013).

References

Iacobucci, D. (2013). Chapter 1: Why is marketing management important?. MM3. Mason, OH: South-Western, Cengage Learning.

Tracy, B. (2011). 4 Principles of marketing strategy. Youtube. Retrieved from http://www.youtube.com/watch?v=hZLMv5aexto

Clark, P. (2013). Click-to-brick: Why online retailers want stores in real life. Bloomberg business. Retrieved from http://www.bloomberg.com/bw/articles/2013-07-10/click-to-brick-why-online-retailers-want-stores-in-real-life

Sofie Micklisch
Principles of marketing discussion
Florida SouthWestern State College
 
           The four P’s of marketing are product, price, place, and promotion (Iacobucci, 2013). The principles of marketing described in the video are specialization, differentiation, segmentation, and concentration (Tracy, 2011). In marketing, the four P’s all have all focus on various tactics geared towards the customer (Iacobucci, 2013). These four P’s are what a company needs to be competitive in the market. Product represents what the company is going to produce, price represents what the company will charge for this product, place is where the product will be sold, and promotion is what the company will do in order to get customers to buy the product (Iacobucci, 2013). The principles in the video are similar to the four P’s.
           In the video, the four principles mentioned talk about where you want to focus all of your efforts on, your competitive advantage and unique selling proposition, your very best customers and their demographics, and where you focus your time, money, and resources (Tracy, 2011). Place and segmentation are similar in that they both deal with demographics and were the product should be sold (Tracy, 2011). Concentration and promotion are similar in that they talk about investing and getting customers to buy the product (Tracy, 2011). Product and specialization are a little similar. Product does not just have to deal with a physical product, but it can also be a service provided (Tracy, 2011).
          The four principles of marketing described in the video can be more applicable to the four P’s, but they are almost alike. The four principles go into slightly more depth by describing how to segment, concentrate, specialize, and differentiate (Tracy, 2011). Price can be part of the unique selling proposition because a service has to be charged a certain way (Iacobucci, 2013). These four principles can be used in both clicks and clicks and bricks marketing. Clicks and bricks marketing have one advantage over just clicks because the customer gets to try out the product before they buy it (Clark, 2013). The customer also gets what they want when they want it. Online retailers are not as personable to their customers as a store would be. A clicks and bricks marketer can socially engage with their customer, while a clicks marketer is not as personable (Clark, 2013). Clicks are bricks marketing can also set a place in stone, but clicks marketers just have the online server (Clark, 2013).
 
References
Iacobucci, D. (2013). Chapter 1: Why is marketing management important?. MM3. Mason, OH: South-Western, Cengage Learning.
Tracy, B. (2011). 4 Principles of marketing strategy. Youtube. Retrieved from http://www.youtube.com/watch?v=hZLMv5aexto
Clark, P. (2013). Click-to-brick: Why online retailers want stores in real life. Bloomberg business. Retrieved from <a href="http://www.bloomberg.com/bw/articles/2013-07-10/click-to-brick-why-online-retailers-want-stores-in-real-life">http://www.bloomberg.com/bw/articles/2013-07-10/click-to-brick-why-online-retailers-want-stores-in-real-life</a>

Sofie Micklisch

Steven, clicks and bricks marketing seems to have a huge advantage over just clicks marketing because the customers actually engage themselves with the product that they are purchasing physically (Jeo, 2014). The four principles mentioned in the video help clicks and bricks marketing become a success, but there are a few other things that could help clicks and bricks marketing become a success. If the company uses the same data for both in physical stores and the website it could increase the company's sales (Jeo, 2014). This allows everyone to be on the same page. Customers could also be allowed access to the website from inside the store (Jeo, 2014). This could allow the store's employees to actively engage with customers as they are doing their shopping or answer questions the customer may have. Bricks marketing could also have Wifi in their stores or make applications for smartphones specifically for those stores, and they could allow customers to order a product if it is out of stock (Jeo, 2014). This could give the company valuable information when it comes to what products the customers is buying or what the store should start carrying.

References

Jeo, J. (2014). 4 Guidelines to a bricks-and-clicks business. Practical E Commerce. Retrieved from http://www.practicalecommerce.com/articles/70793-4-Guidelines-to-a-Bricks-and-Clicks-Business

Steven, clicks and bricks marketing seems to have a huge advantage over just clicks marketing because the customers actually engage themselves with the product that they are purchasing physically (Jeo, 2014). The four principles mentioned in the video help clicks and bricks marketing become a success, but there are a few other things that could help clicks and bricks marketing become a success. If the company uses the same data for both in physical stores and the website it could increase the company's sales (Jeo, 2014). This allows everyone to be on the same page. Customers could also be allowed access to the website from inside the store (Jeo, 2014). This could allow the store's employees to actively engage with customers as they are doing their shopping or answer questions the customer may have. Bricks marketing could also have Wifi in their stores or make applications for smartphones specifically for those stores, and they could allow customers to order a product if it is out of stock (Jeo, 2014). This could give the company valuable information when it comes to what products the customers is buying or what the store should start carrying.
 
References
Jeo, J. (2014). 4 Guidelines to a bricks-and-clicks business. Practical E Commerce. Retrieved from <a href="http://www.practicalecommerce.com/articles/70793-4-Guidelines-to-a-Bricks-and-Clicks-Business">http://www.practicalecommerce.com/articles/70793-4-Guidelines-to-a-Bricks-and-Clicks-Business</a>