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Developing the marketing mix
This document discusses the key elements of developing a marketing mix: price, product, place, and promotion. It provides details on pricing strategies like price skimming and penetration pricing. For place, it defines distribution channels and the three ways to distribute products: exclusively, intensively, or selectively. It also defines wholesaling and retailing. Finally, it discusses promotion tactics like advertising, branding awareness, and short-term promotions to boost sales. The overall document provides an overview of developing a complete marketing strategy using the 4 P's of marketing.
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Developing the marketing mix
- 1. PRINCIPLES OF MARKETING Developingthe Marketing Mix Developing the Marketing Mix (Output) :Powerpoint Presentation Jeannie B. Cuanico Victorias National High School Victorias City Negros Occidental, Philippines
- 11. 1. PRICE SKIMMING- where the product's selling price is way above its unit cost. This allows the company to recover its research and development costs and expenses. 2. PENETRATION PRICING - a pricing strategy where the new product is priced only marginally.
- 12. • The thirdelement in the marketing mix. • It is needed on how a company can effectively and efficiently get its products to its consumers through product distribution.
- 13. A supply chainis the network of all the individuals, organization, resources, activities, amd technology involved in the creation and sale a product.
- 14. There are threegeneral ways on how a product can br distributed using marketing intermediaties: 1. Exclusive Distribution - distribution is limited to a select number of dealers, usually one or a few. 2. Intensive Distribution -this product distribution type, used mostly by fast-moving consumer goods and convenience goods, involves making a product available in as many retail outlets as possible. 3. Selective Distribution - positioned between exclusive and intensive distribution, this type of product distribution involves the use of more thn one but not as many dealers as in intensive distribution.
- 15. • WHOLESAILING -is the sale of goods for sale. Wholesaling is an important product distribution function. Without wholesalers, product manufacturers would have to deliver goods directly to retailers. • RETAILING - is defined as the sale of goods/services to the final customer for his personal consumption. Typical examples of retailing establishments are drug stores, sari-sari stores, restaurants, movie houses, convenience stores and supermarkets.
- 16. Promotion as usedin the 4P's is a general term which includes the following: advertising, promotions, personal selling, publicity and public relations.
- 17. is defined asany paid and public presentation of products, services or ideas by an identified sponsor through a medium. The most common objectives of advertising are: • To build awareness • To inform • To persuade • To remind
- 18. is extent towhich consumers are familiar with the distinctive qualities or image of a particular brand of goods or services. Achieving a high level of awareness provides the brand following advantages: 1. Learning Advantages 2. Consideration Advantages 3. Choice Advantages
- 19. are activities ora series of activities, usually short-term, that are intended to boost the sales of a product or service. These are actions a company can take to stimulate customers to buy immediately than later.
- 20. 1. Trade Promotions- are intended for marketing intermediaries such as retailers. Trade promotions "push" products to the retailer or trade outlet. 2. Consumer Promotions - are intended for consumer. The purpose of consumer promotions is to induce product trial, encourage brand switching or reward consumer patronage.
- 21. REFERENCE: Principles of MarketingTextbook Oscar G. Torres (Author)