the marketing mix
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- Created by: martha
- Created on: 06-03-13 10:32
what factors influence marketing?
competitors actions, technology, target market, needs of the customer, the nature of the product, finance available+marketing budget
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what types of pricing are there?
tatical and strategic
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what tactical pricing methods are there?
psycological and loss leaders
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what strategic pricing methods are there?
skimming, penetration, cost-plus, competitive
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what prcing method would be suitable for a new product in a very competitive market?
penetration pricing
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what pricing method would be suitable for a product brought into monopoly?
price skimming
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what are loss leaders?
limited products which you make a loss on, but make a profit on other products
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how can a business increase its profits?
lower your variable and fixed costs, increase sales, increase prices
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what is the rule of elasticity?
if your product is inelastic, raise your prices (-0.1- -0.99)
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how could you lower your costs?
increase productivity, lower raw material costs- new suppliers, lower wages, outsource the business, invest in technology
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what are the four different types of distrubution channel?
retail, internet, direct selling, mail order
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what factors influence the distrubution channel?
cost, competitiors, target market, marketing mix, volume of sales, market coverage
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what are the four different areas in the Boston Matrix?
problem child, rising star, dead dog, cash cow
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what different promotional methods are there?
sales promotions, direct selling, merchandising, advertising, public relations, branding
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what are the influences in the development of new goods?
advances in technology, actions of competitors, entrepreneunal skills of managers and owners, needs of the customer
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what are the four different types of distrubution channel?
retail, internet, direct selling, mail order
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what factors influence the distrubution channel?
cost, competitiors, target market, marketing mix, volume of sales, market coverage
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what are the four different areas in the Boston Matrix?
problem child, rising star, dead dog, cash cow
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what different promotional methods are there?
sales promotions, direct selling, merchandising, advertising, public relations, branding
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what are the influences in the development of new goods?
advances in technology, actions of competitors, entrepreneunal skills of managers and owners, needs of the customer
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what are the different stages in the product lifestyle?
research+development, introduction, growth, maturity, decline, extension strategy
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what extension strategys are there?
rebranding, repackaging, remarketing
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what factors influence price decisions?
costs, competitors, objectives, sensitivity
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what issues surround cash flow forecasting?
poor management, unexpected cost rises, unexpected fall in sales, poor experience
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Other cards in this set
Card 2
Front
tatical and strategic
Back
what types of pricing are there?
Card 3
Front
psycological and loss leaders
Back
Card 4
Front
skimming, penetration, cost-plus, competitive
Back
Card 5
Front
penetration pricing
Back
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