A)Marketing Mix variables (The 4 P ’s of Marketing) The major marketing management decisions can be classified in one of the following four categories: * Product * Price * Place (distribution) * Promotion These variables are known as the marketing mix or the 4 P ’s of marketing. They are the variables that marketing managers can control in order to best satisfy customers in the target market. The marketing mix is portrayed in the following diagram: The Marketing Mix
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|Unit 9: Creative Product Promotion | |Assessor: Peter Green | |Level 3: BTEC Extended Diploma in Business | |Credit Value: 10
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Marketing Mix 2. Brand Name Definition: A trade name used by an enterprise to name their products or services. The brand name of this product is sWaP‚ which stands for smart Watch and Phone. 3. The Customers The customers would be: People interested in technology Business Minded People People who want more features on their watch for a lower price Would like a fashionable watch People who like a conversation starter Want a phone as well as a watch Do not want to pay a £1000 for a watch 4. Importance
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Marketing Mix Mkt 421 December 17‚ 2012 Scott Raasch Marketing Mix One of the traditionally used marketing tools by the firms to achieve its marketing objectives is the “Marketing Mix.” For growth and survival of an organization the marketing mix plays a vital role. A proper and carefully evaluated mix of these elements enables the marketer in achieving a consensus between the expectations of the target customers and the organizational objectives. Elements
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analysis and marketing mix analysis. In terms of the marketing mix‚ as an important concept in the subject of business studies‚ it refers to “a balance between the four main elements of marketing [is] needed to carry out the marketing strategy. It consists of the ‘4ps’: product‚ price‚ promotion and place” (Marcousé and Surridge et al.‚ 2011:141). Firms can build an effective marketing strategy by using the marketing mix as a tool‚ and it is possible that business will fail if the marketing mix is not
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ANALYSIS OF MARKETING STRATEGY (MARKETING MIX AND PROMOTIONAL MIX) OF COCA COLA INTRODUCTION Coca-Cola is one of the most widely used soft drinks in the world. There is a great variety of brands offered by Coca-cola like diet Coke‚ Sprite‚ RC Cola‚ Minute Maid etc. You can find the Coca-cola soft drinks in any places. In 1919 Coca-Cola decided it was time to go global. The Coca-Cola Company decided to take its operations beyond national boundaries and marketing research was started
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conservative image that focused on low-price products for the lower end of the market. With low prices it was able to compete in the lower-market whereas in the upper market it had lesser penetration. To penetrate the upper-market Samsung had to give up their lower-market position and focus on innovation and perceiving a higher brand value. The following is the STP Analysis of Samsung Mobiles: SEGMENTATION: One of the fundamental principles of marketing is the segmentation of the market. Segmentation
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Fregon Assignment 1 Marco Le Mura Student Number: 5101447209 Table of Contents PART A : Identify the key characteristics of their products and services. What is their significance to the market. The key characteristics of Braaap is to meet to the motor enthuses with products based on motocross equipment‚ riding wear and casual wear with the consistent updates on news from around the world with new designs and motocross equipment. This is also allowing
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Marketing mix is a mix of options and variables that a marketer has to design his proposition. The four Ps‚ as they are known‚ of the marketing mix are Product‚ Price‚ Place and Promotion. Marketers mix these ingredients and variables in different proportions for their products in order to meet their requirements within their given constraints and boundaries. Marketing mix covers the four major elements and variables that a marketer has and can manipulate in order to design his offering according
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E. Jerome McCarthy was an American marketing professor who was the first person to introduce the marketing mix (also known as the 4 Ps) (E. Jerome McCarthy‚ 2014). The marketing mix refers to the set of actions‚ or tactics‚ that a company uses to promote its brand or product in the market. (The Economic Times‚ 2014). The 4 Ps refers to: product‚ price‚ place and promotion. Each element of the marketing mix is influenced by one another and it takes a lot of market research and understanding from many
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