Marketing-Mix

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Created by
kky

Cards (12)

    • Marketing Mix
    -is a set of controllable and connected variables that a company gather to
    satisfy a customer better than its competitor. 
    -It is also known as the “Ps” in marketing
    -A marketing mix includes multiple areas of focus as part of a comprehensive marketing plan.
  • 7Ps:
    1. Product
    2. Price
    3. Promotion
    4. Place
    5. People
    6. Packaging
    7. Positioning
    • Product
    -Marketing strategy typically starts with the product. 
    -Marketers can’t plan a distribution
    system or set a price if they don’t know exactly what the product will be offered to the market.
    -Products are commodities and services that solve problems and satisfy the needs of consumers.
    • Place
    -This is where and how the product or service is purchased by the customers. 
    -It also entails where the product is stored and manufactured represents the location where the buyer and seller exchange goods or services. 
    -It is also called as the distribution channel
    • Price
    -Price is the cost of the product that the consumer pays.
    -the price is the amount or value that a customer gives up to enjoy the benefits of having or using a product or service
    • Promotion
    -Promotion refers to reaching the target audience with the right message at the right time. 
    -A promotional strategy aims to show consumers why they would need a certain product and the reasons for buying it over other products refers to the complete set of activities, which communicate the product, brand or service to the user.
    • People
    -Your team, a staff that makes it happen for you, your audience, and your advertisers are the people in marketing.
    -This consists of each person who is involved in the product or service
    whether directly or indirectly.
    -People are the ultimate marketing strategy. 
    -They sell and push the product. 
    -People are one of the most important elements of the marketing mix today.
    • Packaging
    -is a silent hero in the marketing world. 
    -refers to the outside appearance of a product and how it is presented to the customers.
    -The best packaging should be attractive enough and cost efficient for the customers. 
    -It is highly functional.
    • Positioning
    -refers to a process used by marketers to create an image in the minds of a target.
  • Brand Name is a name, symbol, or other feature that distinguishes a seller’s goods or services in the marketplace.
  • Brand strategy is a long term design for the development of a popular brand in order to achieve the goals and objectives.
  • BRANDING STRATEGIES
    1. Purpose
    2) Consistency
    3) Emotion
    4) Flexibility
    5) Employee Involvement
    6) Loyalty
    7) Competitive Awareness