the marketing mix - powerpoint presentation - full

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1、TheMarketingMixMarketingMixThemarketingmixisoneofthemostfamousmarketingterms.Themarketingmixisthetacticaloroperationalpartofamarketingplan.Themarketingmixisalsocalledthe4Ps.The4Psareprice,place,productandpromotion.Theservicesmarketingmixisalsocalledthe7Ps

2、andincludestheadditionofprocess,peopleandphysicalevidence.TheMarketingMixTheMarketingMixThetoolsavailabletoabusinesstogainthereactionitisseekingfromitstargetmarketinrelationtoitsmarketingobjectives7Ps–Price,Product,Promotion,Place,People,Process,PhysicalE

3、nvironmentTraditional4PsextendedtoencompassgrowthofserviceindustryPricePricePricingStrategyImportanceof:knowingthemarketelasticitykeepinganeyeonrivalsImagecopyright:www.freeimages.co.ukProductProductMethodsusedtoimprove/differentiatetheproductandincreas

4、esalesortargetsalesmoreeffectivelytogainacompetitiveadvantagee.g.ExtensionstrategiesSpecialisedversionsNeweditionsImprovements–realorotherwise!ChangedpackagingTechnology,etc.Imagecopyright:www.freeimages.co.ukTheproductlifecycleThestagesaproductgoesthrou

5、ghfromwhenitwasfirstthoughtof,untilitfinallyisremovedfromthemarket.(fromdevelopmenttowithdrawalfromthemarket)Notallproductsreachthisfinalstage. Somecontinuetogrowandothersriseandfall.ProductPortfolio–Therangeofproductsacompanyhasindevelopmentoravailablefo

6、rconsumersatanyonetimeManagingproductportfolioisimportantforcashflow-WHY?ProductLifeCyclesProductLifeCycle(PLC):EachproductmayhaveadifferentlifecyclePLCdeterminesrevenueearnedContributestostrategicmarketingplanningMayhelpthefirmtoidentifywhenaproductneed

7、ssupport,redesign,reinvigorating,withdrawal,etc.MayhelpinnewproductdevelopmentplanningMayhelpinforecastingandmanagingcashflowProductLifeCyclesandtheBostonMatrixTheStagesoftheProductLifeCycle:DevelopmentIntroduction/LaunchGrowthMaturityDeclineWithdrawalDev

8、elopment–Theconceptualstagewhereinitialideasarethoughtout.Maycomefromanyofthefollowing–Marketresearch–gapsinthemarketidentifiedMonitoringcompetitorsPlannedresearchanddevelopment(R&D)Luckorintuition–stumbleacrossidea