The marketing mix

What is the marketing mix? ,[object Object],[object Object],[object Object],Price Product Place Promotion

What is a product? Intangible features Tangible features Branding Packaging Positioning Product

Product ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Total product concept ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Total product concept ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Product positioning ,[object Object],[object Object],[object Object],[object Object],[object Object]

Branding ,[object Object],[object Object]

Branding ,[object Object],[object Object],[object Object]

Packaging ,[object Object],[object Object],Customers are prepared to pay for good quality packaging, even if this adds to the cost of the product.

Product life-cycle Minimal product variation, basic quality Increased product variation, improved quality Maximum product variation, excellent quality Few product variations, drop in quality

What is price? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Price ,[object Object],[object Object],[object Object]

Product life-cycle - Price High price to recover costs. Or low to gain market share. Price softens: gain popularity and sales rise High price competition Scarce: rising prices. Saturated: falling prices.

[object Object],[object Object],[object Object],Methods of pricing

[object Object],[object Object],[object Object],Cost-based method

[object Object],[object Object],[object Object],Market-based method

[object Object],[object Object],[object Object],[object Object],[object Object],Competition-based method

Pricing strategies ,[object Object],[object Object],[object Object],[object Object],[object Object],Xbox first introduced at $999.95 in Feb 07. Now available for $399

Pricing strategies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Pricing strategies ,[object Object],[object Object],[object Object]

Pricing strategies ,[object Object],[object Object],[object Object],[object Object],Suzuki Swift currently advertised at $15,990. Optional Extras include tinted windows, metallic paint, auto gearbox, DVD player, rear spoiler, alloy wheels

Place – the next P… Getting the product to the customer Price Product Place Promotion

Place ,[object Object],[object Object],[object Object],[object Object]

Physical Distribution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Purchase goods from manufacturers to sell on to retailers. Store goods in warehouses. Deliver stock to retailers. Sell to the end customer. Department stores, supermarkets, discount shops, franchises, convenience stores, market stalls

Physical Distribution ,[object Object],[object Object],[object Object]

Physical Distribution ,[object Object],[object Object],[object Object],[object Object]

Product life-cycle - Place Sparse coverage Good coverage Wide coverage Sparse coverage

[object Object],Channels – Intensive distribution ,[object Object],[object Object],Supermarket Corner store Convenience store

[object Object],Channels – Selective distribution ,[object Object],[object Object]

[object Object],Channels – Exclusive distribution ,[object Object],[object Object],[object Object]

Promotion Getting the word out about your product or service Place Promotion Price Product

[object Object],[object Object],[object Object],[object Object],Promotion ,[object Object],[object Object],[object Object],[object Object]

Product life-cycle - Promotion Create primary demand & awareness Develop selective demand Heavy promotion spending. Focus on intangibles Minimal promotion

Advertising ,[object Object],[object Object],[object Object],[object Object]

Advertising - media ,[object Object],[object Object],[object Object],[object Object]

[object Object],Public Relations ,[object Object],[object Object],[object Object]

Sales promotion ,[object Object],[object Object],[object Object]

Direct marketing ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The marketing mix

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The marketing mix