Scribd
Upload
24 views18 pages

The Marketing Mix

Uploaded by

reham76
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
24 views18 pages

The Marketing Mix

Uploaded by

reham76
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 18

http://www.bized.co.

uk

The Marketing Mix

Copyright 2006 – Biz/ed


http://www.bized.co.uk

The Marketing Mix

Copyright 2006 – Biz/ed


http://www.bized.co.uk

The Marketing Mix


• The tools available to a business to gain
the reaction it is seeking from its target
market in relation to its marketing
objectives
• 7Ps – Price, Product, Promotion, Place,
People, Process, Physical Environment
• Traditional 4Ps extended to encompass
growth of service industry

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Price targets a small number of consumers who are willing to pay a relatively high
price for the product. Over time, the price may be reduced to take advantage
of production economies of scale achieved by selling higher volumes. A
skimming strategy can attract competitors to the market if the product or
technology can be easily duplicated. Luxury perfumes use a skimming
strategy that takes advantage of the high perceived value, enabling them to
sell perfume at hundreds of dollars per ounce. The term is derived from the
concept of "skimming the cream" off a bottle of milk. In this case, the marketer
is skimming the cream, or the best consumers, off the market.

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Price
• Pricing Strategy
• Importance of:
– knowing the
market
– elasticity
– keeping an eye
on rivals
Image copyright: www.freeimages.co.uk

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Product

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Product
• Methods used to
improve/differentiate
the product and increase
sales or target sales more
effectively to gain
a competitive advantage
e.g.
– Extension strategies
– Specialised versions
– New editions
– Improvements – real or
otherwise!
– Changed packaging
Image copyright: www.freeimages.co.uk
– Technology, etc.

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Promotion

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Promotion
• Strategies
to make the
consumer aware
of the existence
of a product
or service
• NOT just
advertising

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Place

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Place
• The means by which products and
services get from producer
to consumer and where they can
be accessed by the consumer
– The more places to buy the product
and the easier it is made to buy it,
the better for the business (and the
consumer?)

Copyright 2006 – Biz/ed


http://www.bized.co.uk

People

Copyright 2006 – Biz/ed


http://www.bized.co.uk

People
• People represent the business
– The image they present can be important
– First contact often human – what is the
lasting image they provide to the customer?
– Extent of training and knowledge
of the product/service concerned
– Mission statement – how relevant?
– Do staff represent the desired culture
of the business?

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Process

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Process
• How do people consume services?
• What processes do they have to go
through to acquire the services?
• Where do they find the availability
of the service?
– Contact
– Reminders
– Registration
– Subscription
– Form filling
– Degree of technology

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Physical Environment

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Physical Environment
• The ambience, mood or physical
presentation of the environment
– Smart/shabby?
– Trendy/retro/modern/old fashioned?
– Light/dark/bright/subdued?
– Romantic/chic/loud?
– Clean/dirty/unkempt/neat?
– Music?
– Smell?

Copyright 2006 – Biz/ed


http://www.bized.co.uk

The Marketing Mix


• Blend of the mix depends upon:
• Marketing objectives
• Type of product
• Target market
• Market structure
• Rivals’ behaviour
• Global issues – culture/religion, etc.
• Marketing position
• Product portfolio
– Product lifecycle
– Boston Matrix

Copyright 2006 – Biz/ed

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy