Marketing Mix

• Marketing Mix


  A set of controllable and connected variables that a company gather to satisfy a customer better than its competitor
• The Original 4Ps

  • Product
  • Place
  • Price
  • Promotion
• Added 3 Elements

  • People
  • Packaging
  • Positioning
• Product


  Any goods or services that are produced to meet the consumers' wants, tastes and preferences
• Goods

  • Business goods
  • Consumer goods
• Goods

  • Tires
  • MP3 Players
  • Clothing
  • Appliances
  • Food
• Services

  • Consumer Services
  • Professional Services
• Services

  • Hair Salons
  • Auto Repair Shops
  • Laundry Shops
  • Engineering & Accounting Firms
• Place


  The location where the buyer and seller exchange goods or services, also called a distribution channel
• Channel 1


  Contains two stages between producer and consumer-- wholesaler and a retailer
• Channel 3


  Is called a "direct-marketing" channel, since it has no intermediary levels
• Price


  The value of money in exchange for a product or service, the amount or value that a customer gives up to enjoy the benefits of having or using a product or service
• Ways on How to set your Prices

  • Cost Based Pricing
  • Competitors Based Pricing
  • Consumer Based Pricing
• Promotion


  The complete set of activities, which communicate the product, brand or service to the user
• Types of Promotion

  • Advertising
  • Personal Selling
  • Sales Promotion
• Advertising


  A paid type of promotion where the product is presented in different mediums such as in Broadcast media and print media
• Broadcast Media

  • Television
  • Radio
  • Internet
• Print Media

  • Newspapers
  • Posters
  • Brochures
  • Tarpaulins
  • Magazines
  • Signage
  • Business cards
  • Calendars
  • Leaflets
  • Printing of t-shirts
  • Flyers
• Samples of price promotion

  • Price discounts
  • Price psychology
  • Price offs
  • Rebates
• Price discounts


  Giving a set of percentage deduction for buying in volumes
• Price psychology


  Setting the odd pricing mindset to make the price look cheaper
• Price offs


  Giving a percentage off depending on the sale occasion
• Rebates


  Returning a portion of the paid money due to early payment
• Channel 2 contains one intermediary. In consumer markets, this is typically a retailer.
• A retailer is a company that buys products from a manufacturer and sells them to end users or customers.
• Personal Selling


  A promotional method where face to face interaction is done between the seller and the buyer
• Sales Promotion


  A short term promotion that intends to make the buyers react fast to a promotion campaign
• PEOPLE


  • Each person who is involved in the product or service whether directly or indirectly
• PEOPLE are the ultimate marketing strategy
• Packaging


  The outside appearance of a product and how it is presented to the customers
• Packaging


  The process of making the wrapper, cover, or container to protect, promote and transport the product
• Levels of Packaging


  • Primary Package
  • Secondary Package
  • Tertiary Package
• Primary Package


  The products' immediate container like plastic container of ice cream or bottle of a syrup medicine
• Secondary Package


  Another package that protects the primary package like the box that contains the bottles of medicine
• Tertiary Package


  Bigger package that totally supports the product such as big boxes that hold volumes of smaller boxes for safety of product transport
• Positioning


  A process used by marketers to create an image in the minds of a target market
• When a company presents a product or service in a way that is different from the competitors, they are said to be "positioning" it
• Solid positioning will allow a single product to attract different customers for not the same reasons