• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

marketing mix

Extracts from this document...

Introduction

Marketing mix & 4P's The 4 P's are product, price, place and promotion, which are: Product, price, place, promotion Product- These are some of the things that make a product. Market or product driven: Market driven firms will use a market research to find out what people want and then make the product. These products are usually useful. Product driven products are new products that re made or invented and tried to be sold. This often means they make something no one likes. Detail of the product: The design must be fit for its purpose. The product name must be attractive. Firms usually build up a brand name, this usually makes their product different from others in the same market and can help to build up customer loyalty. Product life cycle: There are five different stages of a product in terms of production, but this can vary for example the life of most lorries may be 10years where are the life of a MP3 player may be only a few months. ...read more.

Middle

Price discrimination: This is where firms charge different prices to different consumers on the same product or service. This is found in many of the transport fares. Competitions pricing: This is where the firm has to charge similar prices to other firms. It happens because there are lots of choices but not much variation in the products. Cost plus pricing: This is where firms charge an extra percentage on the cost of making the product. Place- This is where the product is sold. Distribution channel which can be direct or indirect. Manufacturer - Wholesaler - Consumer This happens when consumers buy the product from the warehouse. It's good for the manufacturer because they get bulk orders and the wholesaler takes on the cost of storing the products and the risk of not selling them. The consumer usually benefits from lower prices than buying it from the retailer. Manufacturer - Wholesaler - Retailer - Consumer This is the traditional route of selling a product. ...read more.

Conclusion

Price- I am going to charge my customers a standard price no matter the time of year however I can only run my business during the summer season. The pricing strategy I am going to use is Competitors pricing because I will have to charge my customers the same price they are paying for the same service. Promotion- I am going to inform the local leisure centre because my business is a health and sport related business and people go to the leisure centre to get more information on sport in the local area. In the local leisure centre I am going to print out leaflets that people can read. Place- I am going to rent two tennis courts to accommodate my customers in the local tennis courts because they are the only tennis courts available other than school tennis courts. The distribution channel I will be using is going to be Manufacturer-Customer because my service is direct to the customer as I am teaching the customer to do something. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Marketing mix

    For example, a travel agent may send two different customers to the same airlines flight to Spain, but receive contradictory feedback from different customers simply because one customer felt unwell just few hours before boarding the flight and it affected his overall perception of the quality of the experience.

  2. Produce a marketing strategy for a new or existing product

    Because the market is relatively static, they require few fresh injections of capital, for instance advertising and promotion may be required to inject a little ideas from time to time. However, the net effect is of a positive cash flow.

  1. This coursework entitled "Marketing" is about creating a marketing strategy for a new or ...

    There are also other things that must be considered when setting a marketing strategy. Two of these are market segmentation and cost leadership vs. differentiation. Market segmentation This is identifying groups of similar needs and wants and then the firm develops an appropriate marketing strategy for each segment.

  2. Marketing Strategy - Nintendo Gamecube

    This is one of the most popular methods of primary research, as it is used within other methods such as personal interviews, telephone interviews and postal surveys. However, the designing of the questions must be considered carefully, because if the questionnaire is poorly designed, it may not obtain the results the business is looking for.

  1. Marketing Mix

    Even though both companies do not advertise the mobile as much on their website, they have added special features on their websites which helps customers have an overall view of the mobile phone, which may make them want to get it.

  2. Design a small scale marketing plan and formal report for a small business.

    His products must have the right features to attract customers. According to the market research price and quality would attract most people to a card shop so Jack could sell products of good quality; his shop could also stock things apart from cards to give customers the benefit of convenience,

  1. The marketing mix

    When a relative change in the quantity sold is less than the relative change in price, demand is said to be inelastic. For example if a price increase of 10 percent results in a 5 percent fall in sales price elasticity will be -0.5.

  2. Marketing Mix - The 4 Ps.

    Marketing mix activities, or elements, can be organized into four distinct but related categories. The goal in carrying out all our marketing activities is to have the right product in the right place at the right price with the right promotion.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work