Marketing Mix

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  • 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
    • 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.


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