Activity 4 Task: Distribution channels written task Time: 30 mins Decisions related to the marketing mix All businesses have choices to make when it comes to marketing their products: •What shall the price be? •What is the best ...
MARKETING CONCEPT • The marketing concept ensures that the business always focuses on the needs of consumers first, before it develops a good or service. MARKETING • Marketing is the business processes that are used to understand, anticipate and satisfy ...
MARKETING MIX – 4P’S VS. 7P’S MARKETINGMIX Place Price Product Price P 4 Promotion 44PP 7P7P Product P 3 Physical Promotion Place Evidence People Process Classic Consumer Goods Marketing Expanded Service Marketing • Features • Payment Terms &bull ...
What Is a Price? • The amount of money charged for a product or service, or the sum of the values that custo mers exchange for the benefits of having or us ing the product or service. • Pricing: the ...
Session Outline What Is a Price? Factors to Consider when Setting Prices Pricing Strategies Pricing Process What Is a Price? The amount of money charged for a product or service, or the sum of the values that customers exchange for ...
Scope of Marketing Everything around you Think of purchases you have (or have not) made How does a business influence your purchases? Southwest Airlines Marketing The process of planning, pricing promoting, selling and distributing ideas, goods, or services to create ...
THE MARKETING MIX Includes four basic strategies called Product the 4 P’s or Place elements of marketing. For Price each strategy, decisions have to Promotion be made for each product the business offers to best reach their target market ...
Promotion Mix (or Marketing Communication Mix) The specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships Promotion Tools Advertising Sales promotion Personal selling Public relations Direct marketing Promotion Tools Advertising: any ...
Marketing Mix Every plan will be different because every business is different. Decisions about the Marketing Mix – 4 P’s – is the foundation of a marketing plan. Answers to these questions will be a guide to developing the ...
"Marketing mix" is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. The 4Ps is one way – probably ...
Pricing Strategies Chapter 11 Price Defined The amount of money charged for a product or service that consumers exchange for the benefits of having or using the product or service. Most flexible element in marketing mix Major impact on store/product/service ...
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 ...
4 P’S MARKETING MIX EXISTING IN PROGRESS T C Discounts P U Features Quality R D Payment terms I O C R E P Packaging Allowances P R E Inventory O C Public relations Direct marketing M A Transportation ...
Chapter learning aims To enhance your understanding of: • pricing as a marketing function • the key internal factors and external forces influencing pricing decisions • the use of dynamic pricing for effective yield management Key terms Value &bull ...
Terms • Market – includes the group of all potential customers who share common needs • Target market – group of very specific customers that a company desires to have as consumers • Mass marketing – single marketing plan to ...
What Is a Price? • Price is the amount of money charged for a product or service. It is the sum of all the values that consumers give up in order to gain the benefits of having or using a ...
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