Marketing
- Created by: Rachelhaig02
- Created on: 28-10-18 19:20
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- Marketing
- market segments
- age
- Gender
- Area
- Lifestyle
- Product lifecycle
- Development
- Launch
- Growth
- Maturity
- decline
- Marketing mix
- Price
- high enough to make profit
- low enough that customer will buy
- high enough to make profit
- Product
- Must be what the customer wants
- Place
- The customer must be able to access the product
- Promotion
- To ensure customers know about the product
- Price
- Benefits of effective marketing
- Market growth
- An increase in demand for a product
- Market share
- The percentage of a businesses total sales over a period
- Market leader
- Brand that has the largest share of a market
- Market growth
- Benefits of branding
- Quality imagine
- Customer loyalty
- higher prices
- easier product launches
- Drawback of branding
- High maintenancecost
- Damage fro, one product
- loss of loyalty if you are just paying for a name
- Pricing strategies
- Low price
- Price is lower than competitors
- High price
- Higher than competitors
- Protmontisl pricing
- Lower than normal for a short time
- cost-plus pricing
- Pertentagw is added on top of cost of making
- Psychological pricing
- Make it look cheaper than it is eg 99p
- Low price
- Field research
- Desk research
- Looking at existing information
- Advantages
- Easy to obtain
- Decisions ca nbd made quickly
- cheaoer
- disadvanages
- Might not be useful
- May not be relevant
- May be bias
- Advantages
- Looking at existing information
- Gathering new information
- Advantages
- More up to date
- More revlavrnt -for a specific cause
- Disadvantags
- Can be expensive
- Time consuming
- Need to be trained to carry out
- Advantages
- Desk research
- market segments
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