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Title : MARKETING MIX. STARTER Product Place Price Promotion What do you think is meant by each of these key words?. NO IDEA I NEED HELP NEVER HEARD OF IT. OK I CAN DO THIS WITH SUPPORT SOME GUIDANCE NEEDED NEARLY AT MY TARGET. GOT IT! VERY CONFIDENT WILL HIT MY TARGET GRADE.

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Title marketing mix

Title : MARKETING MIX

STARTER

Product

Place

Price

Promotion

What do you think is meant by each of these key words?


Title marketing mix

NO IDEA

I NEED HELP

NEVER HEARD OF IT

OK

I CAN DO THIS WITH SUPPORT

SOME GUIDANCE NEEDED

NEARLY AT MY TARGET

GOT IT!

VERY CONFIDENTWILL HIT MY TARGET GRADE

EXCEED TARGET

LEARNING OBJECTIVES

To investigate the main elements of the marketing mix.


The marketing mix

The Marketing Mix

Definition:

The tools available to a business to gain the reaction it is seeking from its target market in relation to its marketing objectives


Price

Price

Pricing Strategy

The amount the customers pay for the product or service.

What can a business do to decide on a suitable price?

Importance of:

  • knowing the market – customer needs and wants

  • keeping an eye on rivals

  • Covering costs (in order to make a profit)

  • Associating a product with quality


Product

Product

Methods used to improve/differentiate the product and increase sales or target sales more effectively to gain a competitive advantage e.g.

  • New editions

  • Changed packaging

  • New technology, etc.

  • Colour

  • Size


Promotion

Promotion

Strategies to make the consumer aware of the existence of a product or service

NOT just advertising!!!

  • Special offers

  • Advertising

  • User trails

  • Direct mailing

  • Leaflets

  • Posters

  • Free gifts

  • Competition

Don’t add all the examples, just pick a few


Place

Place

The means by which products and services get from producer to consumer and where they can be accessed by the consumer

The more places to buy the product and the easier it is made to buy it, the better for the business (and the consumer?)

-Retail outlets e.g. Topman

  • Wholesalers e.g. Makro

  • Mail order

  • Internet

  • Direct Sales

  • View data e.g. Teletext


Create a spider diagram what do you think coca cola s marketing mix would look like

Create a spider diagram What do you think coca cola’s Marketing Mix would look like?

4 Ps- Marketing Mix


Summed up

SUMMED UP

  • Product – a good or service produced by a business or organisation and made available to customers for consumption

  • Place – the way in which a product is distributed; how it gets from the producer to the consumer

  • Price – the amount of money customers have to give up to acquire a product

  • Promotion – communication between the business and customer, making the customer aware that the product is for sale.


Http www youtube com watch v zfenz nnrq8

http://www.youtube.com/watch?v=zFENz_nnrq8

Marketing Mix


Title marketing mix

TASK

Main Body- Over to You P92


Homework due monday

Homework – Due Monday

Homework

  • design a mind map/spider-diagram or table for homework

  • On Audi’s marketing mix (4P’s)


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