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

The elements of the marketing mix

Extracts from this document...

Introduction

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.

Middle

* "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.

Conclusion

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.

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

    Services are perishable and unlike goods, there are no inventories of services. Lack of ownership is a basic difference between a service and a good because a customer may only have access to or use of a facility for e.g.

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

    Manufacturer-wholesaler-retailer-consumer This is the traditional route-it's still used mainly in the food and drink industry. The advantages to the manufacturer are the same as for channel 1. The retailer also benefits from dealing with a wholesaler- they reduce the risk by allowing retailers to buy in smaller amounts, and

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

    A particularly useful approach to examining the relationship between Cosmopolitan and its marketing environment is a SWOT analysis. A SWOT analysis sets out to focus upon the Strengths, Weaknesses, Opportunities, and Threats facing business or its products at a given moment.

  2. Marketing Strategy - Nintendo Gamecube

    PROFITABILITY: profit needed to plough back into the future. Without the resources to put into ongoing marketing activities, it will not be able to identify, anticipate or satisfy consumer requirements. Different firms have different approaches to running all aspects of their business. For example, Microsoft used its strong image and popularity amongst home PC and office users to enter the intensely competitive video games market.

  1. creating a marketing proposal

    Understanding my competitors To keep my product stand out, we need to make sure that we are ahead of my competitors and shows that have an understanding of our competitors.

  2. I have been asked to produce a marketing strategy for an existing or new ...

    * Structured interview with open questions. In this, the interviewee can answer question with longer answers. * Informal direct interview is where the interviewer will try to guide the interview by asking leading questions. * Informal, this is where there is a discussion; it may lead in any direction.

  1. Current Marketing Mix for Payne's Poppets.

    then the product would be deemed successful and Paynes would be able to move onto the next stage. At the second stage, which is the product launch, Paynes would spend a lot of money through a campaign of intense marketing through radio, television, magazine and other forms of advertising.

  2. Marketing Mix

    distribution chain so and will be directly supplying a variety of products directly to the customer. However, if you are a producer, the method of distribution is extremely important as it could effect how their product is received and how it sells.

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