building a successful marketing mix
Learning Objectives:
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Specification:
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1.5_building_a_successful_marketing_mix_v.2.pptx | |
File Size: | 3128 kb |
File Type: | pptx |
marketing_mix_wordsearch.doc | |
File Size: | 125 kb |
File Type: | doc |
marketing_plan.docx | |
File Size: | 12 kb |
File Type: | docx |
Product
This is all the factors relating to your design, specifications and features of your product. Products have different aspects that help them sell. A business may alter its products to increase it appeal for different customers. It is important to consider your formula, packaging, different varieties and the name of your product.
Promotion
This means communicating something about your product. This could be that it exists, a new product or special offer, or why people should by your product. The right form of promotion depends on the product.
Price
When setting its prices, a business will have to think about its costs. A business wants to cover its costs to make a profit, but needs to think about the effect that the price will have on demand. Generally, if you raise your prices sales will fall but you make more profit on each item and vice versa. A small business can't charge too much as it doesn't have a well-established brand, but a larger business may be able to charge a premium price.
Place
This refers to the way in which products are distributed. Is the internet used or a shop? Small businesses don't usually have much money so the internet is a very important tool in getting your product recognised by lots of people. A website can be mate very cheaply and be used to advertise to customers. A business may also consider directly to its customers.
This is all the factors relating to your design, specifications and features of your product. Products have different aspects that help them sell. A business may alter its products to increase it appeal for different customers. It is important to consider your formula, packaging, different varieties and the name of your product.
Promotion
This means communicating something about your product. This could be that it exists, a new product or special offer, or why people should by your product. The right form of promotion depends on the product.
Price
When setting its prices, a business will have to think about its costs. A business wants to cover its costs to make a profit, but needs to think about the effect that the price will have on demand. Generally, if you raise your prices sales will fall but you make more profit on each item and vice versa. A small business can't charge too much as it doesn't have a well-established brand, but a larger business may be able to charge a premium price.
Place
This refers to the way in which products are distributed. Is the internet used or a shop? Small businesses don't usually have much money so the internet is a very important tool in getting your product recognised by lots of people. A website can be mate very cheaply and be used to advertise to customers. A business may also consider directly to its customers.
1.5_building_a_successful_marketing_mix_activity_-_ap.docx | |
File Size: | 42 kb |
File Type: | docx |