Marketing Mix

Marketing Mix

1. $2 dollar shop

   • Product: Cheap/disposable items that are not expected to last long.
   • Price: Very cheap at $2 an item or packet.
   • Place: Generally easy to locate. In most towns and cities. Products displayed in a haphazard fashion – some attempt at categorising them.
   • Promotion: Imaging with signage – recognisable. Radio advertising with catchy jingle. Strong emphasis on word of mouth.

2. A Bank offering a new bank account

   • Product/service : Name of the account and what the customer can do with it - e.g. overdraft facilities, direct debit payment etc. A description of the product or service.
   • Price: The price would be described to have the account …. Ie., the rate of interest paid on positive balances and charged on negative balances.
   • Place: Describe physical location eg Thames Highway. Add benefits: is it located near the University? Is it an online account accessible 24/7 worldwide?
   • Promotion: how would they target/promote to students …..what would the message be? Eg an interest free loan, or money to buy books etc