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PORTFOLIO MARKETING AUTHOR: LUCÍA RUIZ LÓPEZ 11TH ACCOUNTING

UNIT 1


index Pictionary ...................................................................................................................................... 2 Summary of topics ........................................................................................................................ 8 Quality ....................................................................................................................................... 8 Products .................................................................................................................................... 8 Marketing .................................................................................................................................. 9 Proofread assignment ................................................................................................................. 10


Pictionary Word

Definition

Example

Bountiful

Providing a large amount of good things.

Our sales statistics are showing bountiful results.

Headaches

Things that cause difficulties.

Several headaches appear when I don’t achieve my monthly sales goal.

Regulation

Official rules or the act of controlling something.

Your action should be sanctioned by a specific regulation of the Labor Code.

Reworking

Changing or improving a product or service.

My company start reworking some processes to raise the production.

Scrapping

Getting rid of the things which are no longer useful or wanted.

McDonald’s always do an annual scrapping to eliminate not useful things.

Picture


Service

To examine a machine and repair any faulty parts.

You might need a service to inspect if there is anything wrong with that machinery.

Warranties

Guarantees: written promises to repair or replace products that develop a fault. Places of business for selling goods to customers.

A customer have the right to change the merchandise with the warranty receipt.

Product Mixes

All the different products, brands and items that a company sells.

Product and Gamble is a good example of product mixes because it offers variety of products to the market.

Retailers

Businesses that sell merchandise to individual consumers.

Retailers need to adjust their prices continuously and quickly when the wholesale increases.

Outlets

We should first open an outlet to examine if our business is profitable.


Logo

A graphic image or symbol specially created to identify a company or product. Wrappers and containers used to enclose and protect a product.

Distinctive logos make the company more popular and attractive to new clients.

Brand Recognition

The extent to which consumers are aware of a brand, and know its name.

The brand recognition defines if your company has succeed.

Shelves

Surfaces in a store in which goods are displayed.

Our company’s shelves display our new and innovating merchandise.

Market Share

The sales of a company expressed as a percentage of total sales in a given market.

Market share increases can allow a company to improve profitability.

Packaging

The packaging of our products must be creative but more than anything else, clean and safe.


BrandSwitchers

Consumers who buy various competing products rather than being loyal to a particular brand.

We are trying to make our customers loyal by gave them incentives and avoiding the brandswitchers.

Distribution Channel

All the companies or individuals involved in moving goods or services from producers to consumers.

Wholesaler

An intermediary that stocks manufacturers’ goods or merchandise and sells it to retailers and professional buyers. Dividing a market into distinct groups of buyers who have different requirements or buying habits. Making a product (appear to be) different from similar products offered by other sellers.

The distribution channel between the Coca Cola Factory and the place where it is sold are the trucks filled with merchandise. We should sell our merchandise to Pricesmart, it is an excellent wholesaler commerce.

Market Segmentation

Product Differentiation

Make a market segmentation at the beginning of the year provides more sales opportunities. Product differentiation is making a product more attractive by remarking its unique qualities.


Market Opportunities

Possibilities of filling unsatisfied needs in sectors in which a company can profitably produce goods or services.

Our market opportunity is beneficial due to nobody sells the same or similar products in this sector.

Market Skimming

Setting a high price to a new product, to make maximum revenue before competing products appear on the market.

Innovating products must do a market skimming while they are new in the market.

Sales Representative

Someone who contacts existing and potential customers, and tries to persuade them to buy good or services.

Their sales representativ e was able to negotiate with us and now, we are buying some new merchandise.

Product Features

The characteristics of a product, such as size, shape, quality, price.

The price and quality are the most important product features.


Price Elasticity

The extent to which supply or demand of a product responds to changes of price.

Market Penetration

The temporary strategy of setting a low price to try to sell a large volume and increase market share.

The formula for calculating price elasticity is: Price Elasticity= % change in quantity/ % change in price. When a product is no longer innovating, a market penetration is the best option.


Summary of topics Quality Quality is not only free but a bountiful source of profits, due to the company can earn a good percentage of new resident customers if they get what they want when they want it. Also, doing things wrong is what costs money. So you can save several headaches and some million dollars if your service is 100% satisfactory from the beginning. The Total Quality Management (TQM) is a strategy designed to improve the production quality of goods and services and its main purpose is that the whole company guarantee total quality by having “zero defects”.

Products A product is anything that can be offered to a market that might satisfy a want or a need. Many manufacturers divide their products into product lines, which are the groups of closely related products sold to the same customer groups. Most of the products are branded, a brand is a name, symbol or logo that distinguishes products and make consumers remember the company. The key of branding is to create a relationship of trust. Some of the branding strategies are: -

Corporate branding: Including the company’s name in all the products. Individual branding: Give each product its own brand name. Multi-brand: It is used by major producers and its purpose is to fill up space on supermarket shelves, leaving less room for competitors.

On the other hand, the brand value explains that the worth of a brand can be much greater than a company’s physical assets. For example, it doesn’t matter how much I had invert in my machinery, but the preference of the clients for my products and recognition of the brand.


Marketing Marketing today is not a function, it is a way of doing business. The product life cycle consists of four main stages. The first one is the introduction stage, when the sales are low. Then, they rise quickly during the growth stage. In the maturity stage, the product is established and the major focus is expanding the life cycle. During the decline stage, is impossible to find new customers and the product is withdrawn from the market.


Proofread assignment To: Harold Hannigan From: Lucía Ruiz Subject: Final Decission

Dear Mr. Hannigan:

As you know, the hotel chain hasn’t been as profitable as it was three years ago. We think that reducing the quality of service or increasing prices would be disastrous. After evaluating the situation and having a meeting with our senior managers, we think the most viable solution is to re-brand the hotels and focusing in the midrange hotel market. We will achieve this through different strategies as it is stalling bunk beds and having four people per room. Also, we will reduce our luxurious level by not having free-internet service and charging for room service. We hope you support our opinion and expect this will increase our future income. Please let me know if you need further information.

Sincerely yours,

Lucía Ruiz CEO


Portfolio unit 1 marketing