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The Marketing Mix

The tools available to a business to gain the reaction it is seeking from its target market in relation to its marketing objectives7Ps – Price, Product, Promotion, Place, People, Process, Physical EnvironmentTraditional 4Ps extended to encompass growth of service industry

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The Marketing Mix

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  1. The Marketing Mix

  2. The Marketing Mix

  3. The Marketing Mix • The tools available to a business to gain the reaction it is seeking from its target market in relation to its marketing objectives • 7Ps – Price, Product, Promotion, Place, People, Process, Physical Environment • Traditional 4Ps extended to encompass growth of service industry

  4. Price

  5. Price • Pricing Strategy • Importance of: • knowing the market • elasticity • keeping an eye on rivals Image copyright: www.freeimages.co.uk

  6. Product

  7. Product • Methods used to improve/differentiate the product and increase sales or target sales more effectively to gain a competitive advantage e.g. • Extension strategies • Specialised versions • New editions • Improvements – real or otherwise! • Changed packaging • Technology, etc. Image copyright: www.freeimages.co.uk

  8. Promotion

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