marketing mix

  • Created by: 15firtisa
  • Created on: 10-04-19 11:16
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  • marketing mix
    • the 4 P`s
      • product
        • it fulfils the needs of people, needs to have a clear understanding of what it will be so it can be successfully sold in shops.
      • price
        • the price will impact whether or not it will be a good seller. consider competitors  prices but making sure you can still make profit.
      • promotion
        • includes many things like advertising, social media interactions, emailing or video marketing.
          • e.g. all advertisements need to catch the eye of all customers and make them want to but the product, if advertising on insta then using major influences will also gain customers
      • place
        • everything needs to be at the right price, place and time for it to be successful therefore needs to make sure the business is set up in a location that will be beneficial
          • e.g. if you have major competitors in the centre of town/city or in a shopping hall like Meadowhall then you wont benefit having your business outside of town because most people would just go into town to shop.
    • services
      • needs to be easy to use
        • make sure it is accessible
      • staff need to be informed
        • need to know what's going on and what is on sale etc
      • delivery service
        • make sure that everything arrives on time
        • make sure nothing gets damaged
      • guarantee
        • have a warranty for a few years
    • product development
      • design
        • things customers want but are reliable and easy to use
      • price
        • customers are willing to pay the amount you want to charge
      • expected
        • sales
      • cost of development
        • make sure the reason they are returning can be justified
    • extension stagey
      • price cutting
      • increase advertising
      • update the packaging
      • add more features
      • reach out to more people
      • strategies to get people to but more of the product
      • but more regularly

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