The Marketing Mix

Everything covered in the Marketing Mix topic

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  • The Marketing Mix
    • Price
      • How much the customer is prepared to pay
      • Pricing Strategies
        • Existing Products
          • Price leaders
          • Price takers
        • Pricing Tactics
          • Loss leaders
          • Psychological pricing
      • Influences on pricing decisions
        • Costs
        • Competitors
        • Objectives of the market
        • Target Market
        • Sensitivity of demand to price changes
      • Price elasticity
        • PED=%change in demand/% change in price
        • Elastic greater than 1
        • Inelastic less than 1
        • Influences of PED
          • How essential the product is
          • Price
          • Time
          • product/brand
    • Place
      • Where the customers made the purchase
      • Distribution channels
        • Method by which a product is sold to the customer
        • Direct: Supplier - Customer
        • Traditional: Producer - wholesaler/retailer/agent - consumer
        • Influence
          • Cost
          • Competitors
          • Target Market
          • Market Coverage
          • Control
          • Marketing mix
          • Volume of sales
    • Packaging
    • Product
      • Features and functions of the product or service being offered.
      • Product line
      • Product development process-
        • Creativity- coming up with the new idea
        • Developing the concept
        • Testing and finalising the concept
        • Full product launch
        • Managing the product life cycle
      • USP- Unique Selling Point
      • Factors influencing product development
        • Advances in Technology
        • Competitor actions
        • Skills of managers and owners
      • Boston Matrix
        • Rising Star
          • High share of growing market
        • Problem Child
          • Small share of growing market
          • High maintenace- high failure rate
        • The cash cow
          • High share in low growth market
        • The dog
          • Low share of decling market
      • Product life cycle
        • Introduction
        • Growth
        • Maturity
        • Decline
        • Extension strategies
    • People
    • Promotion
      • Concerns communitcation with the consumers
      • Purposes of promotion
        • Make customers aware
        • remind consumers of the product
        • Establish an identity for a business
        • Your product is better than competitors
      • Sales Promotion
        • Advertising
        • Merchandising
        • Public Relations
        • Direct Selling
        • Branding
      • Promotional mix
        • Costs
        • Competitors
        • Target market
        • The product
        • The market
    • Influences on the marketing mix
      • Finance
        • How much money can be spent on marketing
      • Needs of the market
        • Identified the needs of customers
      • Competitor actions
      • Technology

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