Presentation on theme: "Marketing Mix (4p’s) Slide 1 Product Price Place Promotion"— Presentation transcript:
1 Marketing Mix (4p’s) Slide 1 Product Price Place Promotion The marketing mix principles are controllable variableswhich have to be carefully managed and must meet theneeds of the defined target group. All elements of the mix areLinked and must support each other.
2 Marketing Mix (4p’s) Slide 2 Product Benefits offered Product DecisionsBrandingQualityFeaturesBenefits offeredWe must remember that Marketing is fundamentally about providing the correct bundle of benefits to the end user, hence the saying ‘Marketing is not about providing products or services it is essentially about providing changing benefits to the changing needs and demands of the customer’ (P.Tailor 7/00)
3 Marketing Mix (4p’s) Slide 3 Pricing www.learnmarketing.net PenetrationSkimmingPricing StrategiesCompetitionProduct LinePricing is the only mix which generates a turnover for the organisation. The remaining 3p’s are the variable cost for the organisation. It costs to produce and design a product, it costs to distribute a product and costs to promote it. Price must support these elements of the mix. Pricing is difficult and must reflect supply and demand relationship.BundlePsychological
4 Marketing Mix (4p’s) Slide 4 Promotion www.learnmarketing.net AdvertisingPublicRelationsPromotional MixSalesPromotionPersonalSellingA successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. An organisations promotional mix can consist of:DirectMailInternet/E-commerce
5 Marketing Mix (4p’s) Slide 5 Place www.learnmarketing.net Direct DistributionIndirect DistributionManufacturerManufacturerRetailerConsumerConsumer