Download Marketing Mix

Marketing Mix
What do Marketing
Departments do?
• They need to focus on the customer and
understand who their customers are.
• They must identify the customers needs
• They must anticipate their needs in the
future
• They must also meet those needs when
the customer requires it.
McDonalds
How have they done this recently?
Any business must consider the
Marketing Mix
• The combination of factors that helps a
business sell its products.
• There are 4 parts. This is commonly
known as the 4p’s:
• Price
• Product
• Promotion & Place
Price
• The price of a product must reflect the
value that the customer places on the
product.
• Think about low cost airlines, designer
goods, costume jewellery, fast cars.
• Price is important, it will have an effect on
profit
Bahrain Spring Water
• Group Task
Product
• The product must meet the customer
needs.
• Segmentation is important to think about
here.
• The product must also do what it claims to
do. Toyota cars at the moment!!!
Promotion
• Customers need to know that a product
exists and is available to purchase.
How did Cadbury’s
relaunch Wispa?
Types of Promotion?
Place
• Having a product available when they
want it, and where they want it.
• For businesses this will be getting their
products into the right stores:
• Reggae Reggae sauce at Sainsburys
• Bean2Bed at John Lewis
Differences in the Marketing Mix
• A marketing mix will be different for every
business and every sector of industry.
• Any product has to be marketed at the
right consumer, at the right price and
convey the correct image.
Task
Further Tasks
• Test Yourself Page 94
• Over to you Page 95