busmar

• Marketing Mix

  A foundation model for businesses. A set of marketing tools that the firm uses to pursue its marketing objectives in the target market.
• Marketing Mix


  • Must create a need-satisfying the market
  • Must decide how much it will charge for the offering
  • How to make it available to the target market
  • Must communicate with target customers about the offering and persuade them of its merits
• Product


  Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need
• Levels of Products


  • Core Product / Basic Constituent
  • Actual Product / Associated Features
  • Augmented Level
• Core Product / Basic Constituent


  The most basic level is the "core benefit", which addresses the question "What is the buyer really buying?"
• Actual Product / Associated Features

  The product planners must turn the core benefit into an actual product. They need to build / develop product and service features, design, a quality level, a brand name and packaging.
• Augmented Level


  Finally the product planners must build an "augmented product" around the core benefit and actual product by offering additional consumer services & benefits.
• Types of Products


  • Consumer Products
  • Industrial Goods
• Convenience products


  Consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
• Shopping products


  Less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.
• Specialty products


  Consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.
• Unsought goods


  Consumer products that the consumer either does not know about or knows about but does not normally consider buying.
• Market Offering


  Combination of products, services, information, or experiences offered to a market to satisfy a need or want
• Scope of Marketing


  • Physical Products
  • Experiences
  • Persons
  • Properties
  • Information
  • Services
  • Events
  • Places
  • Organizations
  • Ideas
• Price


  The amount of money charged for a product or service; is the sum of the values that customers exchange for the benefits of having or using the product or service.
• Place (Distribution Channel)


  A set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user.
• Distribution


  • Goods and services need to be either in a place where consumers can find them or delivered directly to the consumers
  • Distribution is the means of accomplishing this goal
  • Logistics is arranging for the product to move along the path to ensure it gets to the consumer efficiently, safely, cheaply and quickly
• Distribution Channels


  • Direct
  • Indirect
• Value delivery network

  A network composed of the company, suppliers, distributors, and, ultimately, customers who "partner" with each other to improve the performance of the entire system in delivering customer value.
• Importance of Location


  • Convenience
  • Accessibility
  • Cost-of-access
  • Reputation
  • Localization
• Promotion

  The specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships.
• Promotion Tools


  • Advertising
  • Sales promotion
  • Personal selling
  • Public relations
  • Direct marketing
• The University of Baguio High School is trying to increase its enrollees for the next school year. The best promotional tool to be used in this scenario is advertising.