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Marketing Mix (4P's): Product, Price, Place, Promotion

Learn about the foundational principles of the marketing mix and how each element - product, price, place, and promotion - is interconnected and essential for success. Explore branding, quality, pricing strategies, distribution channels, and the promotional mix.

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Marketing Mix (4P's): Product, Price, Place, Promotion

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  1. Marketing Mix (4p’s) Slide 1 Product Price Place Promotion The marketing mix principles are controllable variables which have to be carefully managed and must meet the needs of the defined target group. All elements of the mix are Linked and must support each other. www.learnmarketing.net

  2. Marketing Mix (4p’s) Slide 2 Product Product Decisions Branding Quality Features Benefits offered We 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) www.learnmarketing.net

  3. Marketing Mix (4p’s) Slide 3 Pricing Penetration Skimming Pricing Strategies Competition Product Line Pricing 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. Bundle Psychological www.learnmarketing.net

  4. Marketing Mix (4p’s) Slide 4 Promotion Advertising Public Relations Promotional Mix Sales Promotion Personal Selling A 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: Direct Mail Internet/ E-commerce www.learnmarketing.net

  5. Marketing Mix (4p’s) Slide 5 Place Indirect Distribution Direct Distribution Manufacturer Manufacturer Retailer Consumer Consumer www.learnmarketing.net

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