The Marketing Mix

The Marketing Mix

Exam board: OCR

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Definition

The combination of factors that help a business take into account customer needs when selling a product.

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Keywords

Below are the four keywords. These are known as the four P's

Price - the amount of money customers have to give up to acquire a product

Product - The good/service produced by a business and made avaliable to the customers

Promotion - Communication between the business and the customer, making the customer aware that the product is for sale

Place - the way in which a product is distributed how it gets from the producer to the customer

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Price

  • Must reflect the value placed on the product by quality.
  • A high price usually = a high quality product
  • Determines how much money they earn from their work
  • Price set must allow you to make a profit
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Product

  • Must meet the customers needs
  • The look and design of the product might be important factors in consumers' descisions about buying it
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Identifying Needs

Match the product with the need (answers below)

Scarf                              Communication
Car                                 Warmth
Holiday                           Cleanliness
Mobile Phone                 Entertainment/Education
Book                               Relaxation
Toothpaste                      Travel

Answers:

Scarf - Warmth
Car - Travel
Holiday - Relaxation
Mobile Phone - Communication
Book - Entertainment/Education
Toothpaste - Cleanliness

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Promotion

Promotion serves many purposes:

  • Persuading them to buy the product
  • Giving knowledge about the product
  • Product awareness
  • Product available for purchase
  • Different types of promotion

Types of promotion:

  • Advertising
  • Printed brochures
  • Leaflets
  • Sales promotion
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Advertising

Because television advertising is __________________ form, the larger companies tend to use it. It creates a ____________ through its ____________________________. Alternative meda, such as newspapers allow readers to ___________________________ because it is in a _________________________, unlike TV. Local radio is often used nowadays: it is _______________________________ than TV, but it is _____________________

Word bank:

keep a copy of the advert       a smaller audience       use of movement and sound
the most expensive                 a permenant form         great impact/less expensive

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Place

The product must be available to buy at locations convinient to the customers

E.g.

  • Shops
  • Internet
  • Catalogues
  • Market stalls

for example:
          Shoes would most likely be sold in shops
         
Homeware would most likely be sold in a catalogue
         
Crisps would most likely be sold on a market stall

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