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3.3.4: Making marketing decisions: using the marketing mix
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- 1Marketing Mix:the elements of a firm's approach to marketing that enable it to satisfy its customers. Commonly described as the 7P's
*A business will use a combination of the 7 P's in order to market its products. - 27 P's: (*4 Main)*-Price
*-Product
*-Promotion
*-Place
-People
-Process
-Physical environment - 3Influences on Marketing Mix:-financial situation of firm
-target market
-firm's knowledge of market
-stage in life cycle
-market forces
-consumer tastes/fashions
-PED
-existing reputation/brand image
-impact of technology
- - 4Things That Affect The Combination Used: (Definitions of 7 P's)-Price: the amount of money required for purchase
-Product: the item/service you're selling (must match target market demands)
-Promotion: the act of publicising a product to make its existence and availability known to the market
-Place: the location in which you choose to distribute
-People: the staff a company has who come into contact with customers
-Process: how the company deals with its customers and delivers the products/service
-Physical Environment: the tangible features of the service that can enhance customers' experiences - 5Target Audience:a particular group of people at which a product or service is aimed (same as target market)
Informationen
- Beschreibung
- marketing mix (7 P's), factors affecting marketing mix, target audience
- Erstellt von
- Ashleigh-Jade Jones
- Aufrufe
- 41
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