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The Marketing Mix

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Introduction

Marketing Mix The marketing mix is the combinations of factors which help the business sell a product- Usually summarised as the 4 P's, which are price, product, promotion and place. It is important I get this right as if I get it wrong it could affect my business's success. And if my business is not successful I will be in a financial problem as the business requires a large amount of capital, buying between 5 and 10 computer pc computers of a sum around �500 each, however I would try see if I can get a discount by buying in bulk. Product The product mix is the combination of products that a business sells, like soap powders, cosmetic's and medicines. The product range is a group of similar products made by a business, like a number of different soap powders. I will be selling a wide range of tea's, coffee's and soft drinks, also selling a few snacks, while putting peanuts next to the computers hoping that the customer gets thirsty. ...read more.

Middle

I hope that this would attract some of the customers to say longer. Another type of pricing I could use would be price discrimination. I could use this to attract different types of the market segment to my caf�, buy setting different prices for different ages. As I feel most of my customers could be students. I could promote if students bring student cards they get a free 10 minutes after you stay. Promotion Promotion is the communication between businesses and customers, making customers aware that the product is for sale, telling or explaining to them what the product is, making customers aware of how the product will service their needs and persuading them to buy the product for the first time or again. For my business I will use a poster to attract the attention of my market segments. The poster would reach my market segment as I will hand out these poster's where my segments will be, for example, next to the cinema. I will need to make sure my poster is attractive so people do not just throw it on the floor. ...read more.

Conclusion

This is quite expensive for as this is for one week. I believe I should put the advert in the paper for at least the first 6 weeks to make locals aware of my business. Place This is where my business would be placed, next to the hair saloon Tokyo on the North Cheam crossroads. This place is a good place for me as there is no local computation. The business is on a main road which on its own would advertise itself. Moreover there are lights just outside of the shop. This would be helpful as many people would stop outside of the shop and peer across to see inside the window. Aswell as this there is a bus stop outside of the business that is very active. I observed this buss stop for 10 minutes. I counted 4 busses stopping there out of 5. I counted 9 passengers getting off the busses as they stopped and 5 waiting for busses. This is a very active bus stop as this was only 10 minutes I was observing the bus stop. On the other hand this Bus stop could block the view of my shop from some angles. ?? ?? ?? ?? ...read more.

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This coursework improved as it went along. I think the weakest part of it is the product. I don't think the writer has really decided what this business is and who the target market is The early remark about a place to type up coursework is flippant and probably a joke but it does detract from the rest of the work and could reduce marks.

Marked by teacher David Salter 27/03/2012

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