The marketing mix

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Chapter 8: Marketing 1

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Transcript of The marketing mix

Page 1: The marketing mix

Chapter 8: Marketing

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Chapter 8: Marketing

The Four Ps of Marketing

1. Product2. Price3. Place4. Promotion

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Chapter 8: Marketing

Products and Services

The development of good products and services considers: - quality - design features - benefits

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Chapter 8: Marketing

Types of Consumer Products

1. Convenience2. Shopping3. Specialty

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Chapter 8: Marketing

Convenience Products

Products that make life easier.

Consumers buy often, don’t shop around and don’t delay purchase.

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Shopping Products

Expensive or high quality products.

Consumers will shop around for best deal.

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Specialty Products

Unique, rare, hard to find products.

Consumers won’t shop around and may go far to purchase specialty products.

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PriceBusinesses need to be price sensitive and look at their competitors’ prices for the same products.

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Chapter 8: Marketing

Types of Pricing Strategies

1.Skim Pricing2.Penetration Pricing3.Competitive Pricing

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Chapter 8: Marketing

Skim Pricing

Initial price is set high because demand is high. As demand reduces so to will the price in order to increase demand.

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Chapter 8: Marketing

Penetration Pricing

Initial price is set very low to attract customers in the hopes of establishing customer loyalty.

As customer loyalty increases (demand) the price will be raised.

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Chapter 8: Marketing

Competitive Pricing

Adjusting prices to match that of competitors’.

This may lead to PRICE WARS!

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Chapter 8: Marketing

Place (Channels of Distribution)

Channels of distribution are the paths of ownership that goods follow as they pass from the producer to the consumer.

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Chapter 8: Marketing

Channels of Distribution

1.Direct

2.Indirect

3.Specialty

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Direct ChannelProducts are sold directly to the consumer.

Examples:•Farmer’s market•Bakery•Factory Outlet

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Indirect ChannelProducer sells their product to an intermediary who then sells it to the consumer. This adds to the price.

Producer Intermediary Consumer

Example:

Retailer

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Chapter 8: Marketing

Specialty ChannelConsumer buys from a place other than a retail store.

Example:•Online (e-commerce)•Vending machine•Catalogue •Telemarketing

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Chapter 8: Marketing

PromotionPromotion encourages consumers to buy products and services through: •Advertising•Sales promotions•Public relations•Personal selling•Direct marketing


THE PRICE. MARKETING MIX PROMO- TION PRODUCT PRICE PLACE MARKETING MIX Pricing is one of the four elements of the marketing mix.

THE PRICE. MARKETING MIX PROMO- TION PRODUCT PRICE PLACE MARKETING MIX Pricing is one of the four elements of the marketing mix.

The Marketing “Mix”

The Marketing “Mix”

THE PRODUCT. MARKETING MIX PROMO- TION PRODUCT PRICE PLACE MARKETING MIX The product is one of the four elements of the marketing mix.

THE PRODUCT. MARKETING MIX PROMO- TION PRODUCT PRICE PLACE MARKETING MIX The product is one of the four elements of the marketing mix.

Marketing Mix - studymafia.orgCharacteristics of Marketing Mix 1. Marketing mix is the crux of marketing process: Marketing mix involves many crucial decisions relating to each element

Marketing Mix - studymafia.orgCharacteristics of Marketing Mix 1. Marketing mix is the crux of marketing process: Marketing mix involves many crucial decisions relating to each element

Multidimensional Political Marketing Mix Model for ... · Multidimensional Political Marketing Mix Model for Developing Countries 5 identify the varied marketing mix considering the

Multidimensional Political Marketing Mix Model for ... · Multidimensional Political Marketing Mix Model for Developing Countries 5 identify the varied marketing mix considering the

The Correct Marketing Mix

The Correct Marketing Mix

Principles of Marketing Chapter 21. The Marketing Mix Product is the primary P of the marketing mix The other marketing mix decisions are based on the.

Principles of Marketing Chapter 21. The Marketing Mix Product is the primary P of the marketing mix The other marketing mix decisions are based on the.

The Marketing Mix Revisited

The Marketing Mix Revisited

The Marketing Mix Podar

The Marketing Mix Podar

THE MARKETING MIX OR THE 4 PS OF MARKETING. THE MARKETING MIX ‘The marketing mix is a recipe for effective marketing. Using the marketing mix when planning.

THE MARKETING MIX OR THE 4 PS OF MARKETING. THE MARKETING MIX ‘The marketing mix is a recipe for effective marketing. Using the marketing mix when planning.

Marketing Mix. Marketing Mix - Definition Marketing mix is the combination of elements that go to make the marketing strategy for a company. This helps.

Marketing Mix. Marketing Mix - Definition Marketing mix is the combination of elements that go to make the marketing strategy for a company. This helps.

Http:// The Marketing Mix. The Marketing Mix.

Http:// The Marketing Mix. The Marketing Mix.

Marketing mix THE TIMES 100. Marketing mix The marketing mix is the combination of variables that a business uses to carry out its marketing strategy.

Marketing mix THE TIMES 100. Marketing mix The marketing mix is the combination of variables that a business uses to carry out its marketing strategy.

Marketing and the Marketing Mix

Marketing and the Marketing Mix

RELATIONSHIP MARKETING AND MARKETING MIX OF … RELATIONSHIP... · marketing mix. Kotler (2012: 107) states marketing mix as a set of controllable, tactical marketing tools that the

RELATIONSHIP MARKETING AND MARKETING MIX OF … RELATIONSHIP... · marketing mix. Kotler (2012: 107) states marketing mix as a set of controllable, tactical marketing tools that the

MODULE 4 MARKETING MIX: DISTRIBUTION AND SALES … · MODULE 4 - MARKETING MIX IN CULTURAL TOURISM 10 The 4 P’s in the Marketing Mix The terminus “Marketing Mix” is a general

MODULE 4 MARKETING MIX: DISTRIBUTION AND SALES … · MODULE 4 - MARKETING MIX IN CULTURAL TOURISM 10 The 4 P’s in the Marketing Mix The terminus “Marketing Mix” is a general

2 the Marketing Mix

2 the Marketing Mix

The Marketing Mix Most famous phrase in marketing Also known as the __________ The marketing mix elements are _____ _____, _______, and ________. _____,_______,________.

The Marketing Mix Most famous phrase in marketing Also known as the __________ The marketing mix elements are _____ _____, _______, and ________. _____,_______,________.

Marketing Mix OBJECTIVES: -Discuss the 4 P’s of Marketing -Identify Marketing Mix Concepts -Create a Marketing Mix Presentation.

Marketing Mix OBJECTIVES: -Discuss the 4 P’s of Marketing -Identify Marketing Mix Concepts -Create a Marketing Mix Presentation.

The Marketing Mix. Marketing Mix Most famous phrase in marketing Sometimes known as the ‘Four Ps' The marketing mix consists of price, place, product.

The Marketing Mix. Marketing Mix Most famous phrase in marketing Sometimes known as the ‘Four Ps' The marketing mix consists of price, place, product.