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The marketing mix is a marketing tool. It is a checklist, which focuses attention on the main marketing activities in which a firm needs to carry out

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Introduction

UNIT 9 - MARKETING MIX The marketing mix is a marketing tool. It is a checklist, which focuses attention on the main marketing activities in which a firm needs to carry out its marketing strategy. It consists of the four Ps (product, price, promotion and place). * Product (including range of pack sizes, flavours and colours) * Price (pricing strategy and pricing method) * Promotion (branding, advertising, packaging and sales promotion) * Place (distribution channels and seeking shop distribution) Managers look at these areas and decide what marketing actions need to taken. For effective marketing each area needs to be considered. The actions taken must work with each other. ...read more.

Middle

the media that the target market watch or read The place should be the shops visited by the target market The place is the only element that is outside the company's control, as obtaining shop distribution is a very difficult task. Retailers have limited shelf space, so in order to gain distribution, another product will probably have to be removed from the shelves. The effectiveness of marketing activity is constrained by the budget available. Industrial Markets: This is when one business is supplying another. Businesses purchase the products from another business to produce their own products for the market. The product may have exact specifications agreed with the customer (less scope for modifying the product). ...read more.

Conclusion

Examples are cars and houses. It is a much larger and more complex market. In order to understand the market, businesses look at: * Buying habits - most purchases fall into two categories; convenience goods, which are consumed when used and shopping goods. * The type of consumer - which are categorised into several ways; spending power, age and gender. There are differences in customers and buying habits within each market, which are known as market segments. Each segment requires its own marketing mix. A product can be a good (shampoo), service (hairdressing), place (tourist destination) or person (pop star). A product does something for the customer. Products provide both tangible and intangible benefits. ...read more.

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