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

8Ps of Marketing

Extracts from this document...

Introduction

8Ps of Marketing Price: How much it costs for making the product, including free samples, premiums, discounts, taxes, payment terms etc. The pricing of a business is often a reflection of the market at which it is aiming. E.g. charging high price because aiming to sell to consumers who regard the product as exclusive. Pricing decisions should take into account profit margins and the probable pricing response of competitors. Promotion: Methods a firm can use to promote awareness of its products. This includes advertising, sales promotion, publicity, personal selling, PR and branding. A promotion method that is most likely to be most effective in the market in which the firm operates should be chosen. ...read more.

Middle

paying attention to the features. Features include: appearance, packaging, how the product will be used, product life cycle, USP, market position, financial factors. The scope of Products includes specifications of the goods and warranties, guarantees and support. Packaging: How the product is presented to the customers, vital as packaging is often the first contact the customers make with products. Also protecting goods for distribution, storage, sale and use of consumers. People: All people directly or indirectly involved in the consumption of a service: Workers, Employees, Management and other Consumers often add significant value to the total product or service offering. Workers should be well trained to have proper motivation and ethics. The use of appropriate staff and people is vital. ...read more.

Conclusion

Physical Evidence: Proving that the goods are actually distributed. The ability and environment in which the service is delivered, both tangible goods that help to communicate and perform the service and intangible experience of existing customers and the ability of the business to relay that customer satisfaction to potential customers. Unlike a product, a service cannot be experienced before it is delivered, which makes it intangible. This, therefore, means that potential customers could perceive greater risk when deciding whether to use a service. To reduce the feeling of risk, thus improving the chance for success, it is often vital to offer potential customers the chance to see what a service would be like. This is done by providing physical evidence, such as case studies, testimonials or demonstrations. consumers will make perceptions based on their sight of the service provision which will have an impact on the organizations perceptual plan of the service. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Business Studies 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 International Baccalaureate Business Studies essays

  1. Thai Tuan Textile Company, Vietnam - Marketing Strategies

    The brand is considered a strong one by Vietnamese. Most of people position the brand to be correct choice of fabrics for Vietnamese traditional dresses "Ao Dai". * Besides a wide range in sizes, material, patterns of fabrics labeling "Thai Tuan fabric", there are 6 trademarks : Rosshi, Menni's,Lencii, Happiness,

  2. Global Branding and Communication Case: The Global Branding of Stella Artois

    And in the environment where funding was bit difficult company changed its approach to long term which put more emphasis on balanced brand development program. Interbrew developed four screens a new market has to meet: * A large and/or growing market with a premium lager segment of at least 5%

  1. New business plan

    2.9 Consumer behaviour Due to the increase in personal income and income of the restaurant and cafe business, it can be seen that there is potential for the continued growth of the restaurant market. The increase in the number of tourists, Chinese immigrants, Chinese tourists and increased number of outings also revealed the need for more Chinese restaurants.

  2. This paper will concentrate on Apples Apple TV business, and its complementing iTunes business.

    With the Apple TV and iTunes integration, a whole library of millions of movies and TV shows were now available in the living room at the click of a button. Apple TV, while falls into the category of set-top boxes, is a computer that runs primarily using software.

  1. AVCE Unit-3 Marketing

    Do you buy a chocolate according to the taste or the look of the packaging? Taste = 44 look of Packaging = 6 10. Are you willing to buy a chocolate with new and different flavour? Yes = 46 No = 4 11.

  2. Business plan for Laundry Toaster laundry dryer.

    do not want to get the other one, so they might want to have only a normal dryer. This is because they do not want to expense more for something that they are already had. As in this country, the hard rainy season comes only at the end of the

  1. Analysis of the marketing mix of Tata Nano

    Further liberalization is expected as Malaysia implements the ASEAN Free Trade Area agreement, which commits the Malaysia Government to scrap foreign car taxes. 2.0 PROMOTION STRATEGIES 2.1 Objectives of Promotion Strategies Before determine the promotion strategies, we need to very clear about what are the objectives we need to achieve.

  2. Customer Service

    information to stock the items that they sell to in the different age groups. While researching some books on customer service I found that some of the quotes I found explained the role of someone involved in customer service very well below are just a few of the quotes I found during my research.

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