Business Studies-The Marketing Mix
Based around the Business studies book by Malcom surridge and Andrew Gillespie and detailed description on the four p's of the marketing mix.
- Created by: Alex Scott100
- Created on: 21-11-14 10:05
View mindmap
- The Marketing mix
- Price
- Payment types e.g in installments or upfront or buy credit card or cash
- Can they get a discount if buy in bulk?
- Price at which customers are willing to pay.
- Price Compared to customers?
- Does it represent value for money?
- Good value for money isn't always low priced products.However it could be good quality products.
- So a business will think carefully about it's cost.As it wants to cover it's cost to make a profit.
- Some business will aim for a low-price but more sales.
- Whereas some will aim for a higher price a larger profit but will most likely make less sales.
- Smaller business will need to be seen as having a reasonable price.So there price may be lower as an effect.
- Payment types e.g in installments or upfront or buy credit card or cash
- Product-refers to all the factors of the product being sold.
- Some product e.g Apple will have a distinctive design which will attracted a great deal of customer interest.
- However Some products will be consistent E.g Mcdonalds. where ever in the world.
- Some will be long-lasting e.g Duracell batteries.
- These are all aspects of the product which help to to sell and be successful
- Some business will try and appeal to audience different such as harry potter books with different covers for adults and children.
- Promotion
- Letting people know your business exist.
- Information about a new product or a special offer.
- Or highlighting the difference between your product and competitors.
- Business's promote in different ways such as on television or newspapers it really depends on the size of the business and the money available for promotion.
- Place
- This is the way products are distributed.
- They could be sold straight to customers or via shops.
- So do they go through a wholesaler or straight from the factory?
- What are the stores like do they reflect the product such as well design a new or old look or low/high cost.
- This is the way products are distributed.
- The marketing mix influences wheater or not a customer buys a product.
- Price
Similar Business Studies resources:
Teacher recommended
Comments
No comments have yet been made