marketing mix

• What are the 4 p’s

  1. product : what you sell
  2. promotion : how will you let customers know about the product
  3. price : how much will you sell it for
  4. place : how will the product reach the customer
• Non digital marketing methods

  1. leaflets
  2. newspaper
  3. cinema
  4. posters
  5. radio
• leaflets pros and cons

  1. + can be delivered to a certain area and to certain people
  2. + usually cheap to produce
  3. - not very interactive
  4. - often seen junk mail and thrown away
• newspaper pros and cons

  1. + can reach a large audience
  2. + can be accessed both online and on print
  3. + more trusted by customers due to the amount of fake advertisements online
  4. - younger people don’t often engage with newspapers
  5. - people won’t often look at adverts in newspapers
  6. - thrown away after a few days
  7. - not much visual appeal
• Radio pros and cons

  1. + business can use a memorable catchphrase or jingle
  2. + local radios can be cheap
  3. - no visual appeal
  4. - people may not pay attention to adverts
  5. - national radios can be expensive
• poster pros and cons

  1. + can be placed where a lot of potential customers will walk past
  2. + can be placed in bus / train stations where people will see it while waiting for transport
  3. - not interactive
  4. - people walk / drive past fast and may not pay attention to it
• cinema pros and cons

  1. + adverts are video based and can demonstrate the product
  2. + vidoes can be more persuasive than photos
  3. - people may ignore the advert
  4. - can be very expensive
• digital marketing methods

  1. social media
  2. websites
  3. vlogs / blogs
  4. online banners
  5. podcast
  6. text messages
• social media pros and cons

  1. + can be cheap
  2. + can promote in many forms such as photos and vidoes
  3. + customers can keep up with what the business has to offer easily
  4. + can reach a large audience
  5. - may need to hire a social media manager keep up to date with what posts will be successful
  6. - may need to spend a lot of money paying influencers to promote the product to their followers
  7. - no control over third party influencers who could damage the reputation of the buisness
  8. - limited control over online comments
• website pros and cons

  1. + content can be fully controlled and look professional
  2. + customers are more likely to trust and purchase from a professional website over social media apps
  3. - may have to pay someone to maintain the website
  4. - it can take a while for the website to be popular and appear at the top of customers searches
• online banners pros and cons

  1. + can be visual to attract customers to look at them
  2. + can be directed to people who’s search history matches what the business has to offer
  3. + can be placed on relevant websites for the target customer
  4. - customers find them annoying
  5. - they can be blocked by customers so that they aren’t seen
  6. - disappear after a certain amount of views
• test messages pros and cons

  1. + quick to make and can reach a large audience
  2. + can be cheap
  3. + can add links to websites
  4. - customers may see it as junk mail
  5. - business will need permission to send customers a text message
  6. - the message length may be limited to a certain amount of words
• podcast pros and cons

  1. + more interactive than written advertising
  2. + can be placed in a relevant podcast for the target audience
  3. - no visual appeal so business cant demonstrate their product
  4. - it can be difficult to attract the whole of the target audience to a certain podcast as their is so many
• vlogs pros and cons

  1. + allows business to promote using a video , the product can be demonstrated
  2. + vlogs can be streamed live allowing customers to ask questions
  3. - if a business makes its own vlogs it can be time consuming to make
• sales promotion techniques

  1. discounts
  2. sponsorship
  3. loyalty schemes
  4. free gifts
  5. competitions
  6. buy one get one free
  7. placing products at the checkout ( point of sale advertising)
• discounts pros and cons

  1. + special offers are likely to grab customers attentions
  2. + customers are more likely to buy the product now rather than wait
  3. + if they like the product they may re buy it at full price
  4. - loose profit
  5. - if discounts last a long time customers may be un willing to pay the regular price again
• competitions pros and cons

  1. + chance of winning a prize may convince customers to sign up or purchase something
  2. + personal details such as the email of customers will be gained so you can let them know of future offers / new products
  3. - some customers may not enter as they don’t think they will win anyway
  4. - the prize may cost the business a lot to purchase
  5. - competition only lasts a short amount of time before it ends
• buy one get one free pros and cons

  1. + customers think they are getting a good deal and are more likely to purchase
  2. + if they like the product they may re purchase later even when deal is over
  3. - business will loose profit
  4. - if the deal lasts a long time a customer will treat it as a normal expectation
• point of sale advertising pros and cons

  1. + having items at the checkout may attract customers to make an impulse purchase
  2. + raises profits
  3. - if there are no queues the products may be ignored
  4. - the display must be eye catching to work
  5. - impulse buys are more likely to be returned
• free gifts pros and cons

  1. + the customers are more open to trying the product
  2. + customer will feel more valued if the get a gift and are more likely to return to the business
  3. + customer opinions can help make the product better
  4. + customers are more likely to spend money on the product in the future if they like it
  5. - business will loose profit
  6. - must be something the customer is interested in
  7. - customers may never have the intention of buying it anyway
• loyalty scheme pros and cons

  1. + customers who benefit from the scheme will feel valued and are more likely to keep returning to the business
  2. + business can keep track of how many loyal customers they have
  3. + business can get better at communicating with their loyal customers and make them aware of new product / deals
  4. - could potentially miss out on profit
  5. - loyal customers may not always be the most frequent buyers
• sponsorship pros and cons

  1. + linking the business to an event / charity could build positive relationships with the community
  2. + can attract new customers
  3. - if the event doesn’t go as planned it could give the business a bad reputation
  4. - can be expensive to sponsor large events