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The elements of the marketing mix

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The elements of the marketing mix For this new company there is many different ways the company can market its self and its products. This can be shown when you look at the elements of the marketing mix, these are; 1. Product, 2. Price, 3. Place, 4. Promotion. All three of these will affect the ways the companies marketing strategy works. Product There are choices to be made for each. Firstly "Product" The product must be of a quality that not only allows it to be sold in a shop but it also must be seen as some thing that the customers feel they should have. ...read more.


* "One off pricing," is where each product is at a different price this is usually use where job production is in process, not relevant to this company. * "Cost-plus pricing," is where the price of the products is calculated by working out the cost of the services and then either adding a flat rate amount or a percentage increase. As the company has set up in an area in which there is computation form similar shops an larger retailers, the only option is to use market led pricing this is because the market is already established and so a radical new scheme would end in a loss of profit. ...read more.


Promotion Promotion the fourth element and refers to how the potential customers are made aware for the product and or products. Before the promotion campaign firstly the company must find out who its customers are and whom they are aiming their products at. This would be found out through out throw the use of market research which will not only tell you the market you are looking at but also it gives you a change to develop the product more. Knowing that the market for Your company is between the age ranges of 14 to about 25 and is mainly based at male with a small female market. The techniques for promotion is based under five different headings, these are; * Packaging * Personal selling * Public relations * Sales promotions * Advertising. ...read more.

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