AO1: Analyse the marketing mix for existing media products.

Marketing consists of strategies and tactics used to identify, create and maintain satisfying relationships with customers that result in value for both the customer and marketer.

Strategies -> Objectives and target audiences are neededand a clear plan to hit thesetargets (effective and feasible).

Tactics -> The steps or decisions made in order to follow and carry out the established strategy.

Identify -> Knowledge of customers, competitors and market(s).

Create -> Creating new products and innovate in terms of strategy and tactics.

Maintain -> Consumer not just course of revenue but a “partner in transaction” - Understand their NEEDS!

Value -> Both stakeholders in the process have to believe they are getting value. If balance has to be struck between customers satisfaction and profitability.

Businesses have to satisfy NEEDS and WANTS.NEEDS are essential like water, oxygen, shelter and food and not as essential like wealth.WANTS are feasible, they are not essential but would be nice to have like listening to music, a new phone or to be able to drive.

Wants can be turned into needs because people believe they need to be happy, so making a product is essential to the customers by using the want to be happy, which is a need.

If there is DEMAND there, it creates SUPPLY. Businesses are like bodies, money is the blood. If the money stops flowing around the business, it dies or goes bust.

AO1

PRODUCT PRICE PROMOTION PLACEMENT

THE 4 PʼS

All Related: Dependent on each other

POSITIONING:The process in which businesses and customers think relate and identify with their products.