The Marketing Mix

The 4Ps of Marketing

  • Products

  • Pricing

  • Promotion

  • Place

The types of decisions beusiness make in order to implement their marketing strategy are thos product decisions, price decision, place decisions and promotion decisions. Every single marketing mix decision is CRUCIAL!

Type of product: (consumer, nusienss, industrial, service, tangible, intangible, new product, existing product, etc..).

Branding: Brands carried (in house, national, regional), Branding tools used (brand names, logos, color).

Pricing: Discoutning, Promotional pricing, Differentiated Pricing)

Place: Most producers don’t sell their goods directly to final users. Most use marketing channels (trade channels, or distribution channels). Perform many different functions and are involved in the process of making a product/service available for use or consumption. Use of a push or pull strategy or both? What channel level (Direct, one level, more level). Selection of marketing channel members (wholesalers, distributors, brokers, retailers).

The marketing Strategy as to address the wants, needs and preferences of the selected target marketing.

Defining Marketing for the 21st Century

What is marketing? Marketing is about identifying and meeting human and social needs. One of the shortest good definitions of marketing is “ meeting needs profitably.”    3 alternative philosophies that can guide organizations in their efforts to carry out their marketing goal(s)  The production concept The production concepts, one of the oldest concepts in […]

Marketing Strategy

Smart marketers know exactly which groups of customers they are serving. Once they make that decision you have to look at who else wants those customers, because if they are really going to make you money your competitors are going to be looking at them too. You have to figure out a way how to […]

5Cs – Context

The Industry Definition of an Industry An industry is made up of all businesses or organizations that are involved in producing and selling the same category(ies) of products and services. An industry consists of businesses and establishments that produce, handle, or are closely related to the same category of products/services. Every business is a participant […]

Statistics Test 1

Question 1 You are a quality inspector at a factory and find that you have a 25% chance of finding a defect for the products you inspect. a) What is the probability that you will find no defects in a sample of 3 products? Chance of defect = .25; chance of no defect = .75. Because […]

MTV’s Show Skins… Ethical?

MTV, the network that always tries to be young and edgy, has a new controversial drama called “Skins”. With it’s sex and drugs with teenage actors, MTV has attracted the usual uproar from usual places: most of all, from the parents television council who describes “Skins” as “the most dangerous program that has ever been […]

“Yahoo Decides to Friend Facebook” – WSJ Article Review

Both Yahoo and Facebook have a similar infrastructure when it comes to generating revenue, and that is online advertising. It is for this reason that Yahoo has done it’s best to boycott Facebook by trying to get people not to go to Facebook. However Facebook seems to be steeling more and more of the online […]

Consumer Behavior

Attitude – a person’s enduring evaluation of his or her feelings about and behavioral tendencies toward an object or idea; consists of three components: cognitive, affective, and behavioral. Internal locus of control – refers to when consumer believe they have some control over the outcomes of their action, in which case they generally engage in […]

Analyzing the Marketing Strategy

Country Culture – entails easy-to-spot visible nuances that are particular to a country, such as dress, symbols, ceremonies, language, colors, and food preferences, and more subtle aspects, which are trickier to identify. Tweens – people born between 1996 and 2000; not quite teenagers, but not young children either: in between. Generation Y – people born […]

Developing Marketing Strategies

1.   Objectives 2.   Strategies 3.   Tactics Objective – Financial, Pro-form – P&L Specific Measurable Actionable Realistic Time Sensitive Strategies The How of the Objective Tactics Who, what, when, where and how of the Strategies Layout Objective Strategy #1 Tactic 1 Tactic 2 Tactic 3 Objective Strategy #2 Tactic 1 Tactic 2 Tactic 3 Cost-based pricing – A pricing strategy that […]