Marketing Mix

Marketing mix consists of 4Ps.

4Ps
Product
Price
Place
Promotion

Product

Three important things to have a successful product are:
To know about the customers
The appearance
The cost

To know about the customer
It depends on where they use the product, how they use it and what they like about the product.
Make sure that the product must be useful for different customers.

The appearance
This will be the first thing impact on the customer.
Make the customer curious
Try to show best the appearance and many useful functions of the product.

The cost
This is the main impact on the customer psychology.
A good produced at high cost is likely to be sold for a high price .

Economy Pricing
This is a no frills low price. The cost of marketing and manufacture are kept at a minimum.

Penetration Pricing
We put the price low to get customers at the beginning and then maybe raise it later.

Price Skimming
Price skimming is a pricing strategy in which a marketer sets a relatively high price for a product or service at first, then lowers the price over time. For example, MP3 player.

Premium Pricing
Premium Pricing means high price and high quality, such as diamonds, watches and cars.

Place
What role does it play in marketing?

What is this?
“A channel of distribution comprises a set of institutions which perform all of the activities utilized to move a product and its title from production to consumption.”
Bucklin - Theory of Distribution Channel Structure (1966)

Place is also known as channel, distribution, or intermediary
Companies have to make important decisions about where to sell their products. The two main decisions are:
Do we use direct or indirect channels?
Single or multiple channels?

Place refers to:

So what is the difference between selling product in the big shops and luxury shops?

So which one is better for you to buy Rolex?

Promotion

Marketing Mix

Do you have any questions?

Marketing Mix

by elpp3 on Aug 19, 2009

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Marketing Mix — Presentation Transcript