I taught a class in Marketing and Advertising last night at Loyola Law School. Used the Cyber Truck as one of 156 examples of Marketing v. Advertising.
I would have used the "discounting" story. I have used pictures and my driving experience with the Cyber Truck in Marketing, Global Marketing, Advertising Campaign classes plus Advertising Law classes. in 2023-2025.
I got to drive a Cyber Truck in downtown LA at the Auto Show last month. Kind of fun driving it on the streets.
Backing up without a
mirror interesting.
Seems everyone loves them or hates the look. I'm positive about the look.
Is it a flop? Probably too early to know but with a discounted price, just 14 months after introduction of this “Product.” it may be.
Demand has decreased.
They are using one of the strategies
of the 9P’s of Marketing: Pricing, by discounting.
It’s got and started with a higher price and may be losing sales to its gasoline counterparts from Ford and Chevrolet, selling in the hundreds of thousands per year.
The Nine P’s include these important concepts, practices and components:
- People (Segmentation and Targeting)
- In my 9P's, I stress that firms need to look and analyze potential, new, existing and repeat customers and users.
- Product and Services
- Place (Distribution)
- Price or Pricing, Discounting falls here
- Planning and Research. From the founder of Intuit, Scott Cook, said: " A brand is no longer what we tell the consumer it is -- (maybe from Marketing Research never was is my comment) it is what consumers (“People” in the 9P’s) tell each other it is.
- Promotion:
- There are eight (8) major, strategic components or communication elements which are personal and non-personal communication activities.
- The activities that communicate the merits of the overall product include:
- Personal Selling/ Sales Force: Sales persons
- Listen more than you talk. People who listen more, learn more, plus helps you position your service/product/solution or offering.
- Advertising: Like Super Bowl advertising in February for Super Bowl LVIII on CBS.
- Sales Promotion
- Collateral Materials
- Direct Marketing (also referred to as Action or Direct Response Advertising)
- Interactive/Internet/Web, Digital Media, Social Media:
- Events and Experiences
- Public Relations/PR
- With inflation at increasing higher levels, we are seeing brick and mortar retailers needing physical traffic to survive. Gas prices at record levels are keeping customers from driving more. One stop shopping is more important than ever.
- Partners/Alliances: Most times Marketers can’t create customer value and build customer relationships only by themselves. They work closely with partners and alliances outside the firm, and with other company departments (inside partners).
o Partnering with brands outside their sector will open up added sales, new area or new “People.”
o Partnerships and teams that feel a connection to the work and the purpose are going to speak far more passionately together and to your or their “people,” and with far more influence.
o A partnership; the joint relationships, partnerships and strategic alliances: The relationship existing between two parties; a relationship resembling a legal partnership and usually involving close cooperation between parties having specific and joint rights and responsibilities as a common enterprise. Usually plural or “Partners,” not Partner.
o Ensure that there is excellent planned and natural alignment of internal and external agencies/partnerships/alliances around common goals and purposes. They should be moving toward shared goals or goals.
- Presentation:
- The act or acts of strategically presenting any of the different 9P’s© and/or components to your customers, suppliers, wholesalers, retailers, sales force, marketing intermediaries, clients, employees, partners, and/or others.
Presentation aspects may be signs, symbols or images that represent something; a descriptive or persuasive account (as a sales person of the product or service). Something set forth for the attention of mind of your targets ("People") and media audiences.
- Passion
You may not know that Google, Facebook and Amazon attract 46 cents of every dollar spent by advertisers. In fact, Google and Facebook are the dominant digital advertising market vendors in the US, accounting for a combined 48.4% of total digital ad spending. Think about this expression "It is only creative if the product or service sells." I wanted to add "It is only good media spending if it sells."
I am an experienced, senior Forensic Marketing Expert, Advertising expert, Advertising/Marketing consultant with Londre Marketing Consultants, LLC.
The Nine P's/9P's of Marketing help identify marketing problems in a number of strategic areas and help develop profitable marketing’s objectives, strategies, tactics and solutions. The 9P's are insightful. The nine P's were created for the digital age.
Or for more fun, marketing strategies/tactics and facts: Go to Marketing Trivia with 54 stimulating questions and answers at Londre Marketing Consultants, LLC.