Marketing and PR Handout

Taking a master in Business Administration gradation means that you need to understand individually and every aspect of the system of rules you manoeuver in. Knowledge in grocery storeing and PR will equip you with the essential tools to pay your own business or organization survive the competition. Below are my insights from pickings Marketing and PR course1. stigma equity, which is the position that a proceeds or high society holds in the minds of the consumers is primary to creating the pillowcase and personality of your product.2. Branding integrates the overall strategies of your company or brand advertising, grocery storeing programs, client service, public relations (Ochman, n.d.). Make for certain you give your brand a pursuant(predicate) positioning approach.3. Marketing is not moreover almost offering discounts on coupons or giving away prizes in raffles. It is about integrating effective tools to communicate with your market.4. quaternity Ps of marketing s tand for Product, Price, crop and Promotion. These determine the direction of your product, and integrate your programs to check out consistency and synergy in your efforts (Arens, W., 2005).5. Market penetration strategies determine the total market potential, then divide that potential by the amount of product that is already interchange or purchased (Berry, T., 2007). If not done adept, you whitethorn end up picking yourself on the wrong side of the road, with unjustifiable expenses and cadaverous efforts.6. Rewarding your loyal customers is a brawny tool nowadays to keep them advent back (Marketing Tricks for the Frugal Budget, 2003). This gives rise to kin Marketing, ensuring that everything from customer service to after-sales service is passing smoothly (Arens, W., 2005).7. Use discounts and promos sparingly. Otherwise, people may think that your product is not unspoilt enough because they are always on sale (Marketing Tricks for the Frugal Budget, 2003).8. In in the public eye(predicate) Relations, you need to take care of your learn to the public, and equally important, to the media. Otherwise, you risk yourself of being avow in the shadows of darkness, because media create the buzz for your product or company.9. The media coverage that you get by recommendations of editors, write-ups in columns and mentions in press releases is more powerful than advertising. Utilize this as lots and as effective as you can.10. publicizing is an effective tool to promote your product, which is why it does not come cheap (Arens, W., 2005). You fetch to make sure that you pick the objurgate medium for your product to reach the right market.ReferencesArens, W. (2005). Contemporary Advertising. McGraw Hill, pp. 325-328.Berry, T. (2007). Market Penetration Opportunity. Retrieved may 8, 2007.Marketing Tricks for the Frugal Budget. (2003). Retrieved may 8, 2007 from https//businesstown.com/articles/cheap-marketing-tricks-that-work/Ochman, B.L. (n.d.). B randing The most(prenominal) Misunderstood Word in Marketing. Retrieved May 8, 2007.