Marketing mix Whats the marketing mix The Marketing

Marketing mix

What’s the marketing mix? The Marketing Mix is the combination of marketing activities for a successful sale of a product. These activities are known as THE 4 Ps: Ø PRODUCT Ø PRICE Ø PLACE Ø PROMOTION

It’s the most important part of the marketing mix PRODUCT When a company decides to invest in a new product to sell they need to choose FUNCTION, APPEARANCE and COST This process is called PRODUCT DIFFERENTIATION and it is created by: Establishing a STRONG BRAND IMAGE Making clear the unique selling point (UPS) Offering a better location

PRODUCT BRANDING - This refers to the image that a company creates for its product BRAND NAMES – are very important – they tend to be short, descriptive, easy to prunounce LOGOS are the face of the company and provide essential information BRANDE IMAGE is usually developed over time through advertising campaigns PACKAGING has 2 functions: to give protection and to be easly recognized LABELS are important for the image and to give all the informations about the product

Price Deciding the price for a product the company has to take into consideration: Whether the price will cover production costs What prices are charged by competitors How prices can be used to increase sales

Price

place Place is the point where products are made available to customers: v. PRODUCER – WHOLESALER – RETAILER (high street shop) v. PRODUCER – RETAILER – CONSUMER (supermarkets) v. PRODUCER – CONSUMER (internet)

AIDA Attention Interest Desire Action

Promotion ADVERTISIN G • • • TV RADIO POSTERS PRESS INTERNET • • PUBLIC RELATIONS SALES PROMOTIONS COSTUMERS LOYALTY CARDS DIRECT MARKETING INTERNET MARKETING SPONSORSHIP CELEBRITY ENDORSEMENT VIRAL ADVERTISING PROMOTION OTHER METHODS

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