Post on 25-May-2015
Learning About Marketing
The Marketing Mix.
CAKE MIX
CAKE
You can alter the final cake by altering the amounts of mix
elements.
GUESS WHAT?? It happens exactly the same on the MARKETING MIX.
Marketing mix : A set of controllable marketing tools that work
together to achieve company's objectives.
Which vary depending on the company.
The 4P’s.When making decisions you need to consider:
Product, Price, Placement and Promotion.
How do you identify your target market?
• Age
• Income
• Where they live
• Marital status
• Lifestyle/interests
1st Decision: PRODUCT.
Deal with specifications of actual goods or services and how it relates to what users
need or want.What is it? With What? For What?...
Usually include supporting elements such as: warranties, guaranties and
customer support.
Examples that determine the product.
•Brand name.•Functionality.•Styling.•Quality.•Safety.•Packing.•Repairs and Support.•Warranty.•Accessories and Services.
2nd Decision: PRICE.
Decision for setting a price to a product depending on the product or
service offered. (+ Taxes.)How Much is it?
Examples that determine the price.
•Price Strategy.•Early payment Discounts.•Seasonal Pricing.•Retail Price.•Volume Discounts•Wholesale Pricing.•Price Flexibility.•Price Discrimination.
3rd Decision: PLACEMENT
Refers to how the product gets to the costumer.
How? Where can I find it?
Examples that determine the placement.
•Distribution Channels.•Market Coverage.•Inventory Management.•Warehousing.•Distribution Centers.•Order Process.•Transportation.•Logistics.
4th Decision: PROMOTION
Represent the different aspects of marketing communication to sell something..
How to send a message to the people?
Examples that determine the promotion.
•Promotional Strategy.•Advertising.•Personal Selling.•Sales Force.•Sales Promotion.•Branding.•Public Relations.•Publicity.•Marketing Budget.
When making marketing decisions the MARKETING MIX should be considered.
(Product, Price, Placement and Promotion)
Remember that in the marketing mix just like in every other mix, the final object varies depending on
the elements it is made of.
CAKE =