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2. 01
Agenda
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Agenda
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Agenda
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3. The MARKETING MIX is the
combination of variables that a
business uses to carry out its
marketing strategy and meet
customer needs.
MARKETING
MIX
PLACE 03
PRODUCT 01
PROMOTION 04
PRICE 02
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What Is Marketing Mix
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Price
Functionality, Appearance, Quality,
Packaging, Brand, Warranty,
Service/Support.
Place
UST Price, Discounts, Allowances,
Financing, Leasing Options.
Product
Channel Members, Channel Motivations,
Marketing Converge, Locations, Logistics,
Service Levels.
Promotion
Advertising, Personal Selling, Public
Relations, Message, Media, Budget.
Marketing
Mix
The 4 P's Of Marketing Mix
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Customer wants
and needs
Place
Cost to satisfyProduct
Convenience to
buy
Price
CommunicationPromotion
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The Marketing Mix
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➢‘Product’ refers to the
functions and features of a
good or service.
➢Should satisfy the needs of the
customer.
➢May have a unique selling
proposition (USP).
➢Products also includes a range
of factors such as packaging,
quality, warranties, after-sales
service and branding.
Product
Product
Product
Product
Product
The Product
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INTRODUCTION GROWTH MATURITY DECLINE
The Product Life Cycle
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High costs but no
sales
Sales decline extension strategies can
be adopted or the product withdrawn
Sales stabilize less expenditure on promotion
needed revenue & profit should be high
High expenditure on promotion
and product development low
sales
Sales increase and product
should break even
Stages Of Product
Life Cycle
Development
LaunchGrowth
Maturity Decline
Stages Of Product Life Cycle
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A Successful
Extension Strategy
Could Increase Sales
Launch
Growth
Maturity Decline
Saturation
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Extension Strategies
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Promoting To A Different
Market Sector
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Adding A Feature
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Reducing The Price
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Modifying The Product
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NEW
Extension
Strategies
NEW
Reasons To Have An Extension Strategies
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The price of a product will depend on:
• The cost to make it.
• The amount of profit desired.
• Other objectives of the business.
• The price competitors charge.
• The price customers are willing to pay.
• Is there a high demand?
• Is demand sensitive to changes in price?
The Price
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Price Leader - Businesses that
dominate the market can often dictate the
price charged for a product. Other
businesses follow this lead.
Price Taker – Businesses have to
charge the market price. This is often the
case where are many small firms
competing against each other.
Price Leaders And Price Takers
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Loss Leader
Products may be sold
at a price lower than
the cost to produce it.
Often used by
supermarkets to
encourage people into
the store where it is
hoped they will buy
other products.
Penetration
Low price charged
initially to penetrate
the market and build
brand loyalty: price
is then increased.
Skimming
Launching with a
high price when
there is little
competition, then
reducing the price
later. Often used
with technology.
Competitive
A similar price is
charged to that of
competitor's
products.
Psychological
A price is set
which customers
perceive as lower
than it.
Pricing Strategies And Tactics
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Skim Price
Follow – on price
A
B
C
P2
P1
Q2 Q1
Penetration price
Price
Quantity
Price Skimming Vs. Penetration Pricing
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➢ Products should be conveniently
available for customers to buy
➢ ‘Places’ Include:
• Stores
• Mail Order
• Telesales
• Internet
PlacePrice
ProductPromotion
Marketing
Mix
The Place
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Fours Types Of Promotion:
1. Above-the-line (ATL): use of mass
media source (TV, radio, magazine).
2. Below-the-line (BTL): use of non-
mass media (free sample, buy 1 get 1).
3. Pull promotion: used to stimulate
(pull) demand (ATL).
4. Push promotion: rely on
intermediaries such as wholesalers and
retailers to ‘push’ the products to
customers (BTL).
Promotion
Types of Promotion
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Consumer
Rating frequency
brand interaction
rating points
brand lift
Reach
ROI cost per
lead real
metric new
customer
quantifiable
lead
TV radio outdoor newspaper
magazine
Trade marketing/sampling roads
show/door to door promotion/selling
event management direct mail
ATL
Above the
line
BTL
Below the
line
ATL And BTL Promotion
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Sales Promotions
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Advertising
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Sponsorship
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Direct Mailing
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Public Relations
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Promotional
Activities
Promotional Activities
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Online
Marketing
PPC
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News
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Online Directories
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Email Marketing
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SEO
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Web Content
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Social Media
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Article
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Copywriting
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Online Marketing
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Marketing
Communication
Personal
Selling
Public
Relations
Direct
Marketing
Sales
Promotion
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Marketing Communication Mix
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How The Marketing Mix Evolves Over Time
Post-War
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Turbulent
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One To One
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Soaring
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Uncertain
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Financially Driven
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01
02
03
04
05
06
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Market Research
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Communication
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Implementation
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Modelling
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Data Analysis
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Data Collection
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Interpretation
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Budget Allocation
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Forecasting
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Marketing Mix Modelling
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CUSTOMER VALUEPRODUCT
COSTPRICE
CONVENIENCEPLACE
COMMUNICATIONPROMOTION
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4 P's to 4 C's
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Extended
Marketing
Mix
People
Process Physical
Evidence
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Extended Marketing Mix
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Our Mission
VISION
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MISSION
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Our Team
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ANITA CLARK
CEO
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JULIE CARTER
Manager
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Director
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MARY PARKER
Editor
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About Us
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Our Goal
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$70
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Financials
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MARY PARKAR
Finance Manager
CAROL D’SOUZA
Product Manager
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Quotes
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Post It
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Puzzle
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