L4 MARKETING MIX & PRODUCTS

Marketing mix

A dynamic conbination of the 4Ps that enables a company to offer something to the market

Tangible

Products that you can see or touch

Intangible

Products that must be felt or experienced

Product

Anything that can be offered to the market to gain attention

Product based on tangibility/durability

1. Non-durable

2. Durable

3. Services

Non-durable

Bought frequently because they are easily consumable

Durable

Not bought frequently because they can be used for a long time

Services

Intangible products that involve an activity that is provided by a person or entity, which cannot be owned

Perishable

An aspect of services wherein activities cannot be stored

Variable

An aspect of services that shows that services are hard to replicate

Inseperable

An aspect of services that explain consumers must be present during the service

Goods-and-services

Some businesses provide both goods and services

Products based on shopping habits

1. Convenience products

2. Shopping products

3. Specialty products

4. Unsought products

Convenience products

Highly accessible products that can be bought with minimal effort

Shopping products

Consumers compare based on sustainability, quality, price, and style

Specialty products

Unique characteristics or brand identification

Unsought products

Products that consumers do not normally think about

Products based on industrial use

1. Materials & parts

2. Capital items

3. Supplies & businesses

Matierials & parts

Raw materials and manufacturing materials sold directly to industrial users

Capital items

Long-term goods that aid in production and operations

Supplies & businesses

Short-term goods and services supplied to businesses to facilitate operations