Thursday 9 December 2010

Marketing Mix

http://www.netmba.com/marketing/mix/

This site has a very good explanation of marketing mix.


Product Decisions

The term "product" refers to tangible,
physical products as well as services.
Here are some examples of the product decisions to be made:
  • Brand name
  • Functionality
  • Styling
  • Quality
  • Safety
  • Packaging
  • Repairs and Support
  • Warranty
  • Accessories and services

Price Decisions

Some examples of pricing decisions to be made include:
  • Pricing strategy (skim, penetration, etc.)
  • Suggested retail price
  • Volume discounts and wholesale pricing
  • Cash and early payment discounts
  • Seasonal pricing
  • Bundling
  • Price flexibility
  • Price discrimination

Distribution (Place) Decisions

Distribution is about getting the products to the customer. Some examples of distribution decisions include:
  • Distribution channels
  • Market coverage (inclusive, selective, or exclusive distribution)
  • Specific channel members
  • Inventory management
  • Warehousing
  • Distribution centers
  • Order processing
  • Transportation
  • Reverse logistics

Promotion Decisions

In the context of the marketing mix,
promotion represents the various aspects of marketing communication,
that is, the communication of information about the product with
the goal of generating a positive customer response.
Marketing communication decisions include:
  • Promotional strategy (push, pull, etc.)
  • Advertising
  • Personal selling & sales force
  • Sales promotions
  • Public relations & publicity
  • Marketing communications budget
I generated the infomation and '4Cs' can be created as well.
Here is a figure that I created this afternoon:


4Ps - Seller's view using marketing tool to influencing buyers.
4Cs - From consumer viewpoint,
each marketing tool is designer to deliver a customer benefit.

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