MARKETING MIX

• Marketing Mix Variables

  
  

  The combination of internal marketing variables that can be directly manipulated by the company.
• Marketing Environment Variables


  External factors that the company has little or no control over.
• People


  Refers to the workers that the business employs and the customer service orientation of the business.
• Consumer Market Segmentation


  The process of dividing consumers into distinct groups based on specific criteria.
• GEOGRAPHIC SEGMENTATION


  Dividing consumers according to location.
• Psychographic Segmentation


  Identifying the market according to personalities, values, hobbies, interests, opinions, and lifestyle.
• Demographic Segmentation


  Dividing the market by age, gender, and economic status.
• Behavioral Segmentation


  Refers to the buyer's attitude towards a product or service.
• TYPES OF CONSUMER MARKET SEGMENTS

  • GEOGRAPHIC SEGMENTATION
  • PSYCHOGRAPHIC SEGMENTATION
  • DEMOGRAPHIC SEGMENTATION
  • BEHAVIORAL SEGMENTATION
• Target Market


  The specific group of consumers that a business aims to reach with its products or services.
• Place


  The variable in marketing concerned with making products available in the right location, quantity, and time.
• Channel of Distribution


  The physical link between the manufacturer and the buyer.

  
• Product


  Anything capable of satisfying a consumer want or need, including tangible commodities and intangible services.
• FORMS OF PRODUCTS

  physical object

  service

  place

  organization

  idea

  personality

  Activities
• CONSUMER GOODS


  Goods that are intended for final consumption by consumers.
• INDUSTRIAL GOODS


  Goods used in the production of other goods.
• Durable Goods Tangible goods which normally survive in many uses.
• Non-Durable Goods Tangible products which are consumed in one or a few uses.
• Services Intangible goods like activities, benefits, or satisfactions which are offered for sale.
• Convenience Goods Products which are purchased with a minimum of effort.
• Shopping Goods Products that are bought only after an effort has been made to compare with other goods.
• Specialty Goods Goods that consumers are willing to make an effort to purchase and are not able to accept substitutes.
• Unsought Goods

  Goods that are not yet wanted by or still unknown to the consumer.
• New Unsought Goods

  New ideas or products that consumers still have to know to be motivated to buy.
• Regular Unsought Goods

  Goods that stay unsought but not unbought forever.
• Product Life Cycle

  Refers to a product's sales growth from the beginning to its peak, followed by decline and eventual withdrawal from the market.
• FOUR (4) STAGE OF PRODUCT LIFE CYCLES

  
  

  1. INTRODUCTION STAGE

  2. GROWTH STAGE

  3. MATURITY STAGE

  4. DECLINE STAGE
• Branding

  The method of making products recognizable as unique and different, facilitating easy identification by buyers.
• Brand

  A name, term, sign, symbol, or design intended to identify the goods or services of one seller or group of sellers.
• Brand Mark The part of a brand that shows in the form of a symbol, design, or distinctive coloring or lettering.
• Distributors Brands

  Owned and controlled by a firm whose primary activity is distribution.
• Manufacturers Brands

  Owned and controlled by manufacturers.
• Packaging

  All activities involved in designing and producing the container or wrapper for a product.
• ❑ PRIMARY PACKAGE-product’s immediate container. Ex. Bottle, Can, Sachet.

  ❑ SECONDARY PACKAGE-protects the

  primary package. Ex. Carton box

  ❑ DISPLAY PACKAGE - A package designed to attract attention in a retail environment.

  ❑ SHIPPING PACKAGE-contains the secondary package that ease the storage, identification and shipping.
• Price

  The amount of money the customer must part with to avail the use of the product.
• The Pricing

  Activities involved in the determination of the price at which products will be offered for sale considering the various objectives of the firm.
• Realistic Range of Price

  The price will be determined between the lowest price and the highest price offered.
• Marketing Skimming Strategy

  Setting of price at the upper limit of the realistic range of choice.
• Penetration Strategy

  Setting of price at the bottom of the realistic range of choice.
• Cost-plus Strategy

  Most common type where the prices are set after the cost of making that product has been computed.