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Marketing Triangle

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As you have now seen, marketing consists of many different disciplines and functions. However, as a teacher, I like to break the essentials into what I call the "Marketing Triangle." The Marketing Triangle consists of advertising (the stuff that you have to pay for-- TV commercials, print ads, billboards, etc.); publicity (free media coverage); and P.R. (personal relationships). An easy way to remember it is this is, "With advertising you PAY, with publicity you PRAY (that it will be covered and accurate), and with P.R. you PLAY." Think of the business you work for, or a Fortune 500 company you are familiar with. Does it utilize all three sides of the Marketing Triangle? Describe in detail how it does or does not.

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My organization does a great job of utilizing the Marketing Triangle. I work for a regional grocery company and it advertises by placing advertisements in the local papers, giving sales flyers to customers, placing bottle toppers on liquor, displaying product information at the gasoline pump, adding starburst informational ...

Solution Summary

This solution discusses the marketing triangle (advertising, publicity, and personal relationships) in regards to a particular business and its use of the triangle.

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3. Provide some ideas for marketing strategies may be used to effectively introduce this product to the market. What channels will be used? What aspect(s) of the product should be emphasized? How will it be priced? How will these approaches achieve results?

4. Approach this from an entrepreneurial prospective as if you are launching a new venture without your company's support.

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