Marketing and the marketing mix.
Marketing and the marketing mix. Marketing is a range of activities that makes sure consumers get what they want in the right amounts, at the right time, and at the right price. It can also let a consumer know what goods or services are available on the market to decide which one they might want to buy. Firms need to market their products because there are so many goods and services on the market they want to try and ensure that consumers will choose their product over other companies. Companies will spend a lot of money on marketing to ensure that the buyers know about their product. There are four main reasons why firms market their goods: . To increase sales. The more goods a company sells the more profit it will make so therefore a company wants to ensure that as many of their products as possible are sold. 2. To increase a market share. This is usually a percentage of the total value of sales of a product in a market. The firm with the biggest market share is known as the market leader. 3. Many companies will run marketing campaigns to give a better image for the company and its products. 4. To keep the public informed on their latest goods or services. The Marketing Mix This is a full range of activities that is used by a business to market its products. This is usually referred to as the '4p's'. . Product 2. Place 3. Price 4. Promotion . Product- this is
The Marketing Mix
E1. The Marketing Mix A. Promotion There are many methods I can use to promote Classic Cola. I can use above the line promotion methods, where I can use media to get through to potential and actual customers. I can also use below the line promotion, such as personal selling. But I think I will use above the line promotions methods as I think it will be more affective. I will use television adverts as over 90% of homes have television sets in them. Also I will have the choice to choose the timings of when I can advertise Classic Cola, as different advertising spaces during the day target different people. B. Price I will have to chance the price of Classic Cola from the current price, which is 64p for a 2-litre bottle. I have decided to change the price to 55p and lower as time goes. I say this because I will make sure the production of Classic Cola will benefit from Economies of Scale, which then I can pass the benefits over to the consumers via lower prices. C. Place I will also place Classic Cola in national and international stores, in order for more people to actually know and buy the product. I say this because not everyone has seen or heard about Classic Cola, so by placing the product nationally and internationally there is more change of people taking an interest in the product, resulting in an increase of sales for Classic Cola. D. Production Classic
Marketing mix - Poppets.
Contents . Introduction 2. Questionnaire 3. How I did Questionnaire 4. Shop survey 5. Methodology 6. Application of marketing mix 7. Product 8. Price 9. Place 0. Promotion 1. Packaging 2. Analysis of Poppets national questionnaire 3. Questionnaire Results 4. Recommendations Poppets Questionnaire Are you male or female? Male Female How old are you? 0-12 13-16 17-25 10- 26-40 40+ Do you eat sweets? Yes No How often do you eat Poppets? Daily Weekly Monthly Less then once a month What flavours do you eat? Mint Toffee Hazelnut other How often do you buy them? Daily Weekly Monthly Other Where do you buy your sweets? Asda Tesco Co-op Post office Newsagents School Leisure Centre Other How much are you willing to spend? 0-10p 10-20p 20-30p 30-40p 40-50p 50-60p 60-70p 70p+ How often do you see Poppets Adverts? Daily Weekly Monthly Never seen one Poppets Questionnaire (page2) Rate Poppets out of 10 1 b 2 3 4 5 6 7 8 9 1 10 Where do you live? Stowmarket Needham Market Haughley S Stowupland Ipswich Where do you notice adverts most? TV Cinema Newsagents Bill
marketing mix
The Marketing Mix A Market is the coming together of buyers and sellers exchanging their goods for money. For innocent the buyers would be the customers and the sellers would be the workers at the shops or supermarkets. In innocents case the goods would be mainly refreshments like smoothies, but also others such as veg pots, thickies etc. Marketing is where companies try to maximise their sales and profits by satisfying the consumers' needs and wants and turning them into profit. The marketing mix is also known as the 4 P's. These are: Product Price Place Promotion. Product Market segmentation Market segmentation can be split up in many ways, for example Age and Sex, Geographical area and Occupation and Income. Here is an example of this; Classification Who is included A Higher Management, administrative and professional B Middle management, administrative or professional C1 Supervisory or clerical, junior management C2 /skilled manual workers D Semi-skilled and Unskilled manual workers E State pensioners, students, casual workers, Unemployment For supermarkets the market segmentation is the way in which the market is split up into smaller markets where the customers have the same needs. This can be many different segments, for example the basics such as bottle sizes, food (veg pots), but also others like business makers, sellers etc. Price To set a
marketing mix
Marketing mix & 4P's The 4 P's are product, price, place and promotion, which are: Product, price, place, promotion Product- These are some of the things that make a product. Market or product driven: Market driven firms will use a market research to find out what people want and then make the product. These products are usually useful. Product driven products are new products that re made or invented and tried to be sold. This often means they make something no one likes. Detail of the product: The design must be fit for its purpose. The product name must be attractive. Firms usually build up a brand name, this usually makes their product different from others in the same market and can help to build up customer loyalty. Product life cycle: There are five different stages of a product in terms of production, but this can vary for example the life of most lorries may be 10years where are the life of a MP3 player may be only a few months. These are the five stages: . Development is where the product ideas are brought together. This stage involves market research. 2. This is the launch stage, this is the stage were the product is first put on sale. This stage usually backs up with lots of advertising and promotion. 3. This is the growth stage, this is the stage where the sales and profitability gradually increases until the product becomes well established. This
The Marketing Mix.
INTRODUCTION For my Investigation on Payne's Poppets I shall be investigation ways in which the company can be improved using all the factors of the marketing mix and also economies of scale I shall combine all this information to produce a final assessment and recommendation sheet on how Payne's Poppets need to improve using the marketing mix as a guideline. The Marketing Mix The Marketing Mix is made up from the four P's: Product- what the customers want to buy. Price- this must be one that the customer thinks is good value for money. Promotion- this is to make potential customers aware of the products existence. Place- this must be positioned conveniently for the customer to buy the product. If gets the four P's correct then they will be successful as it will be easy for them to attract customers. The Product Payne's Poppets product will be the showing of films, bowling games and refreshment sales. Payne's will need to be able to provide viewings of newly released films, keep the furnishings maintained and employ friendly and courteous staff in the cinemas and in all other sections of the business to ensure that their customers will return. Price The prices that the products are to be sold at should be at a level which the customer will believe to be value for money and not just cheap, as this may sometimes be thought as a reflection of the quality of the
Marketing Mix.
Marketing Mix Product Products can generally be classified under two headings - consumer products and producer products... Consumer products Purchased and used by individuals / citizens for use within their homes and these products fall into 3 categories: - Convenience products. Fast-moving consumer goods (f.m.c.gs) sold in supermarkets, such as soap, chocolate, bread, toilet paper, etc. These often carry a low profit-margin Producer products Purchased by businesses and are either used in the production of other products, or in the running of the business. For example, raw materials (timber, steel), machinery, delivery vehicles, and components used to make larger products (e.g. tyres and headlights for vehicles). A product line is the term used to describe a related group of products that a business produces (e.g. a business may produce televisions, and its product line may include portable televisions, 12-inch screen models, 18-inch screen models, televisions with a built-in video facility, etc). Product mix is the term used to describe the different collection of product lines that a business produces (eg the same business may also produce video recorders, camcorders and computers, as well as televisions). Most businesses will wish to change their product portfolio over time. This can be the result of changing consumer tastes, replacing those
Marketing mix
Marketing mix Product The product is the most important aspect of the marketing mix. The product can be a service or even a holiday destination. Products have both tangible and intangible benefits. Tangible benefits include benefits, which can be measured such as the top speed of a car. Intangible benefits are benefits that cannot be measured such as the enjoyment the customer will get from the product. It is important that the product is changed as necessary to bring it up to date and prevent it from being overtaken by competitors. I'm going to selling a travel service using air travel. It will be a low cost airline that will fly from a variety of different airports in the UK notably in the north where no low cost airline is available, and to a range of different European destinations. I will be offering customers the lowest prices as well as complete customer satisfaction. Hopefully I will be able to compete with the current cutthroat competition in today's airline industry. The research I acquired from various sources helped me to learn hat customers actually want which is basically hassle-free cheap and quick travel. I also learnt essential tips about starting up an airline, for example the biggest mistake airlines could make when starting an airline service is over ordering too many aircrafts. I will aim to position my product in the minds of the customers by
The marketing mix
THE FOUR P'S The 4 P's in Marketing The four P's in marketing are Product, Price, Promotion and Place (Distribution). Marketing mix The marketing mix provides us with a useful way of looking at the marketing of products. Businesses will need to create a successful mix including the right product or service, to sell it in the right place, at the right price and using the most suitable form of promotion. All successful businesses follow the four P's format and Converse is a good example of a company that successfully uses this marketing strategy. We already know that the simple mix is often referred to as the four P's of product, promotion, price and place. This is a very easy way of looking at what has become a very difficult business environment and has at times been felt too simplistic and restrictive in terms of the real mix and what should be the fullness of our understanding. In recent times, therefore, it has been expanded to include three more P's with the additional elements of people, provision of customer service and process management. People People have been known as the greatest advantage of a modern business. The main thing is that everybody who works for my business is a customer, either the internal or external customers. Both sets of customers expect to be supplied with the service they need if it's on time or specified. This principle holds well for
Marketing mix of McDonalds
Marketing Objective A marketing plan must be created to meet clear objectives. Aims to lead marketing efforts and are used to measure how well the plan works. They may be related to market share, sales, goals, reaching your target audience and build awareness in the market. Objectives communicate what marketers want to achieve. Long-term goals are divided into short-term measurable objectives which McDonald used as milestones on the road. The results can be analysed regularly to see whether the objectives have been achieved. This type of feedback allows the company to change plans. This gives you flexibility. Once marketing objectives are set next step is to determine how they will be achieved. A marketing strategy is to determine how the objectives will be delivered. It explains what marketing actions and resources will be used and how they work together. Marketing mix of McDonald’s Marketing mix and consists of various elements in the following way, which form the backbone of the company, the economic system and thus contributes to the achievement of marketing objectives. Marketing mix of services for McDonald's is as below . Product McDonald places a strong emphasis on developing a menu that customers want. Market research defines exactly what it is. However, customer requirements change over time. In order to meet these changes, McDonald's has introduced new
