2.8 KiB
Marketing Mix
01 Operational Marketing
What is Operational Marketing? Its mission is to create and execute a marketing plan according to the business strategy.
- Establish detailed business goals
- With the help of the marketing mix create action that achieve those goals
- Prepare the budget for those actions
- Execute the planned actions
- Check the correct execution of the marketing plan
02 Marketing Mix
What is Marketing Mix? Combination of elements on which decisions must be made to define Marketing actions necessary to achieve the stated goals.
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03 Product
Groups of attributes of a product that benefit the consumer by satisfying his needs.
- Quality
- Aspects
- Options
- Style
- Brand
- Packing
- Sizes
- Services
- Guarantees
- Utilities
Do not offer me things, offer me ideas, emotions, feelings and advantages.
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Product Lifecycle
→ Introduction
- Slow evaluation of sales
- Uncertainty, acceptance, competitors reactions
- High costs
- Few accessories and variation
- High retail Price
- Few selected wholesalers
→ Growth
- Sales increase significantly
- competitors reactions
- Improve product
- Segment the market
- Establish adequate price policy
- Communication: differentiate
→ Maturity
- Sales plateau
- Growth by replacement or vegetative
- Differentiate the product and communicate in order to:
- Justify higher price
- attract new client
- take clients from competitors
- achieve more frequent use
- intensify price competition
- reduce costs
→ Decline
- significant decrease in sales
- low prices
- competitors take off
- get rid of stocks
- stand in the last position
04 Price
What is Price? Monetary expression of the products value.
- What is the value of the goods or services for the buyer.
- What are the prices of similar goods or services.
- Is the buyer sensitive to price
- What discounts should be offered.
- How is your price compared to the price of your competition.
→ Price List → Discounts → Grant
How to decide a price?
Based on competition Based on break even point Based on margins
Pricing Strategies
- Differential Strategy → Exploit the heterogeneity of consumers
- Fixed Price
- Quantity Discounts
- Cash Discounts
- Deferral of the payment
- Random discounts
- Newspaper Discounts
05 Promotion
→ AIDA
- Personal Sales
- Sales Promotion
- Public Relations
- Direct Marketing
06 Place
- Where do our clients find our product
- What kinf of store are we going for
- How I can access the mai distribution channels
- Do I need to use an own sales team
07 Trends: Extended Marketing (+3P's)
- Process → How will we do it?
- Physical Evidence / Presentation → How will we present it?
- People → Staff?