Marketing Mix
- Created by: Hannah
- Created on: 07-05-13 14:53
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- Marketing Mix
- Price
- Degree of competition
- Competitive pricing
- if business is to grow by increasing sales. may reduces prices to equal the competitiors.
- Price Skimming
- Pay high prices to maintain the image of products- price skimming.
- Penetration pricing
- Sold to large numbers of consumers. sales will come from low prices.
- Product
- Product Portfolio
- Diversify the market
- Attract new customers- so new target market.
- Product life cycle
- Launch
- 5 Seconds of Summer
- Growth
- Little Mix
- Maturity
- Robbie Williams
- Decline
- Extension strategies
- Girls ALoud
- Launch
- Product Portfolio
- Promotion
- Informs consumer of new products
- creates a brand image, sense of identity
- supports marketing decisions
- helps a business achieve slaes growth
- Methods
- Advertising
- sales promotions
- Direct marketing
- Place
- Channel distribution between manufacturer and final customer.
- Producer-wholesaler-retailer-consumer
- Producer would have to sell goods at a discount to wholesaler.
- Usually for furniture companies.
- Route appropriate for anyone who wants to cover the bigger the market than just local consumers.
- Producer-wholesaler-retailer-consumer
- Channel distribution between manufacturer and final customer.
- Price
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