Marketing Mix

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  • Created by: Waders
  • Created on: 17-03-15 10:08
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  • Marketing Mix
    • Product
      • Something people want to purchase
      • Getting the product right is vital to a successful business
    • Price
      • Must be value for money
      • You would expect a small Television to be considerably cheaper than a large model
    • Promotion
      • Customers need to be attracted
      • If no-one knows about a product it won't sell, regardless of how good it is
    • Place
      • Must be convenient for customers
      • Channels of distribution
        • Retailers
        • Wholesaler
        • e-commerce
          • Directly to customers. Buying and selling online
            • Convient for people who live far away
              • Attracts more customers
          • Easy to get a large range of customers
            • Allows small businesses to grow nationally and worldwide
          • Benefits
            • Customers can track the progress of an order
            • Employ less staff
          • Costs
            • Products can't be seen before purchase
            • Difficult for customers to return products


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