Marketingmix
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This document discusses the marketing mix, which consists of 4 Ps - Product, Price, Placement, and Promotion. It explains that each of the 4 Ps involves decisions that will determine the final marketing strategy, and that varying the amounts or elements of each P will alter the overall mix, just as altering ingredients in a cake recipe changes the final product. Examples are given for the types of decisions involved in each P, such as what features to include for Product, how to set prices, distribution channels for Placement, and promotional strategies like advertising. The key is considering all elements of the marketing mix together to achieve business objectives.
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Marketing Mix
The document discusses the marketing mix, which consists of 4Ps - Product, Price, Placement, and Promotion. It provides examples of factors to consider for each P. For Product, it includes brand name, functionality, quality etc. For Price, it discusses pricing strategies and discounts. Placement refers to distribution channels and inventory management. Promotion covers different marketing communication aspects like advertising, branding and public relations. It concludes that the final marketing mix depends on balancing all these elements, similar to how altering ingredients affects the final cake.
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This document provides an overview of key marketing concepts including the 4Ps (product, price, place, promotion), segmentation, targeting, and positioning (STP), and consumer behavior. It defines marketing and discusses the evolution of marketing concepts. It also explains the marketing mix framework including the 4Ps and 7Ps, how to develop product, price, place, and promotion strategies, approaches to segmentation, targeting and positioning in the market, and an overview of consumer decision making processes and factors that influence consumer behavior.
Price
This document discusses pricing strategies and factors that influence pricing decisions. It identifies the four Ps of marketing (Product, Price, Place, Promotion) and focuses on Price. It outlines internal factors like costs, organizational objectives, and external factors like competition and demand that affect pricing. Different pricing strategies are described such as cost-based, value-based, competition-based pricing as well as discount pricing, price segmentation, and promotional pricing. The document also discusses how price relates to the product lifecycle stages of introduction, growth, maturity, and decline.
Marketing mix
The document discusses marketing mix strategies used by businesses. It defines the 4Ps of marketing - product, price, place, and promotion. It then expands on each P, providing examples of strategies for designing the right product, determining appropriate pricing, choosing distribution channels, and developing promotional plans. The document also introduces additional elements like people, processes, and physical evidence in an extended marketing mix for service-based businesses. Overall, the document serves as a comprehensive overview of key considerations and strategies for crafting an effective marketing mix.
PRICING.pptx
The document discusses pricing, including defining price, the goals of pricing, and pricing strategies. It begins by defining price as the amount charged for a product or service. The goals of pricing include gaining market share, return on investment, and meeting competition. Pricing strategies discussed include cost-based pricing, demand-based pricing, competition-based pricing, and combinations of strategies. The document also covers pricing policies, the product life cycle, psychological pricing techniques, break-even analysis, and factors affecting pricing decisions.
Marketing mix
The document discusses the marketing mix, also known as the 4 P's of marketing. It was first coined in 1953 and further developed in 1960 to include the four categories of Product, Price, Place, and Promotion. Product refers to the goods or services being offered. Price is the pricing strategy and cost to customers. Place covers distribution channels and logistics. Promotion encompasses communications and selling activities to persuade customers. Together these four elements form the basic components of a marketing plan.
factors effecting pricing
Pricing is one of the most important business decisions management must make. This document discusses factors that influence pricing decisions, including internal factors like costs, company objectives, and product differentiation, as well as external factors like competition, demand, suppliers, and government regulations. Internally, pricing should align with a company's objectives and consider its costs, while externally pricing is impacted by demand for the product, what competitors charge, the economic environment, and rules set by government. Careful consideration of both internal and external factors is needed to set prices that maximize revenue.
factors effecting financial pricing
Pricing is one of the most important business decisions management must make. This document discusses factors that influence pricing decisions, including internal factors like costs, company objectives, and product differentiation, as well as external factors like competition, demand, suppliers, and government regulations. Internally, pricing should align with a company's objectives and consider costs of production. Externally, pricing is impacted by demand for the product, what competitors charge, the economic environment, and rules set by government. The document concludes that while companies can control internal pricing factors, external factors are harder to influence and must still be considered for effective pricing strategy.
PRICING DECISIONS & FACTORS INFLUENCING PRICING DECISIONS
- INTRODUCTION
- PRICE
- PRICING DECISIONS
- FACTORS INFLUENCING PRICING DECISIONS
- INTERNAL FACTORS
- COST
- COMPANY OBJECTIVES
- ORGANISATIONAL FACTORS
- MARKETING MIX
- PRODUCT DIFFERENTIATION
- EXTERNAL FACTORS
- COMPETITION
- DEMAND
- SUPPLIERS
- ECONOMIC CONDITIONS
- CONSUMERS
- GOVERNMENT
- CONCLUSION
Pricing strategies
This document discusses various pricing strategies that can be used by companies. It covers major strategies such as customer value-based pricing, competition based pricing, and cost-based pricing. It also discusses product mix pricing strategies and price adjustment strategies including discounting, segmented pricing, and geographical pricing. The document provides examples and definitions for each strategy to explain how and when companies can apply different approaches to setting prices.
factors effecting pricing.pptx
The document discusses factors that influence pricing decisions. It defines price and explains that pricing is one of the most important business decisions as it directly affects revenues. There are internal factors like costs, company objectives, and product differentiation, and external factors like competition, demand, suppliers, and government regulations that influence pricing. Internal factors are within a company's control while external factors are not. The document provides details on each factor and how they affect determining the right price for products and services.
Developing Pricing Strategies & Programs.
The document discusses pricing strategies and the steps involved in setting prices. It outlines 6 main steps: 1) selecting a pricing objective, 2) determining demand, 3) estimating costs, 4) analyzing competitors, 5) selecting a pricing method, and 6) selecting the final price. It also discusses adapting prices based on factors like geography, discounts, promotions, and differentiation. The document provides examples and details for each step and concept.
Marketing mix hansoncollege-sept142016
The document discusses the marketing mix, also known as the 4Ps of marketing. It begins by explaining the origins of the term "marketing mix," which was coined in the 1950s to describe the combination of marketing tools used to satisfy customers. The 4Ps framework was developed in 1960 and classifies marketing tools into four categories: product, price, place, and promotion. Each of the 4Ps represents a key element of a marketing strategy and plan. The document then provides details on common decisions made for each of the 4Ps.
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PRICING DECISIONS & FACTORS INFLUENCING PRICING DECISIONS
PRICING DECISIONS & FACTORS INFLUENCING PRICING DECISIONS
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Marketingmix
- 3. You can alter the final cake by altering the amounts of mix elements.
- 4. GUESS WHAT?? It happens exactly the same on the MARKETING MIX.
- 5. Marketing mix : A set of controllable marketing tools that work together to achieve company's objectives. Which vary depending on the company.
- 6. When making decisions you need to consider: Product, Price, Placement and Promotion.
- 7. How do you identify your target market? • Age • Income • Where they live • Marital status • Lifestyle/interests
- 8. 1st Decision: PRODUCT. Deal with specifications of actual goods or services and how it relates to what users need or want. What is it? With What? For What?...
- 9. Usually include supporting elements such as: warranties, guaranties and customer support.
- 10. Examples that determine the product. •Brand name. •Functionality. •Styling. •Quality. •Safety. •Packing. •Repairs and Support. •Warranty. •Accessories and Services.
- 11. 2nd Decision: PRICE. Decision for setting a price to a product depending on the product or service offered. (+ Taxes.) How Much is it?
- 12. Examples that determine the price. •Price Strategy. •Early payment Discounts. •Seasonal Pricing. •Retail Price. •Volume Discounts •Wholesale Pricing. •Price Flexibility. •Price Discrimination.
- 13. 3rd Decision: PLACEMENT Refers to how the product gets to the costumer. How? Where can I find it?
- 14. Examples that determine the placement. •Distribution Channels. •Market Coverage. •Inventory Management. •Warehousing. •Distribution Centers. •Order Process. •Transportation. •Logistics.
- 15. 4th Decision: PROMOTION Represent the different aspects of marketing communication to sell something.. How to send a message to the people?
- 16. Examples that determine the promotion. •Promotional Strategy. •Advertising. •Personal Selling. •Sales Force. •Sales Promotion. •Branding. •Public Relations. •Publicity. •Marketing Budget.
- 17. When making marketing decisions the MARKETING MIX should be considered. (Product, Price, Placement and Promotion)
- 18. Remember that in the marketing mix just like in every other mix, the final object varies depending on the elements it is made of.