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marketing mix
is a significant instrument in planning and executing the right marketing scheme through operative strategies
product
is something that gives satisfaction to consumer; be it a need or want. It also refers to the goods and services offered by business enterprise to its target customers.
product
This can be a physical item, a service or a virtual offering. It is manufactured at a cost and is subsequently made available to the consumer at a price.
TANGIBLE
INTANGIBLE SERVICES
types products
tangible
product or item that a business enterprise offers.
durables
non-durables
types of tangible products
durables
have long interval between purchase such as appliances and furniture
non-durables
have stronger repeat purchases, such as food, soaps, and other consumables.
INTANGIBLE SERVICES
are intangible things provided by entrepreneurs to satisfy the customer such as medical services and transportation.
PLACE
refers to distribution or the methods you use for your products or services to be easily accessible to the target customers.
placement or distribution
Also called ______, this is the process and methods used to bring the product or service to the consumer
place
where the businesses situate and their accessibility are vital influences in marketing. Accessibility relates not just to physical approachability but to other means of communication and contact
DIRECT DISTRIBUTION
INDIRECT DISTRIBUTION
types of Distribution Channels
DIRECT DISTRIBUTION
the type of distribution where there is direct scale between the manufacturer and the consumer.
INDIRECT DISTRIBUTION
the type of distribution wherein manufacturer utilizes a wholesaler or retailer to sell his/her products
Price
is the monetary value a customer pays in exchange for a merchandise or service.
COST PLUS
VALUE-BASED
COMPETITIVE
types of pricing strategy
COST PLUS
is taking the production expenses (including labor, materials and other resources) and adding up a certain profit percentage and then the sum will be the product’s price
VALUE-BASED
Instead of using the production cost as basis, an entrepreneur can consider the customer’s perception of the product’s value. The perception of the purchaser is dependent on the product’s quality, the brand standing, and benefits, aside from the cost factors.
COMPETITIVE
You can conduct a survey of the pricing applied by your competitors on a similar product that you are trying to sell and then decide whether to price your product cheaper, the same, or higher. You should also monitor their prices and be able to respond to variations.
promotion
The strategies you use to endorse your product or service in the market is called
promotion
- In order for you to persuade patrons to purchase your product, you need to explain what it is, how to use it, and why they should buy it. You should always make your consumers feel that you can satisfy their needs and wants.
ADVERTISING
DIRECT MARKETING
PERSONAL SELLING
SALES PROMOTIONS
SALES PROMOTION ACTIVITIES
DIGITAL MARKETING
COMMON MARKETING COMMUNICATION METHODS IN PROMOTING
ADVERTISING
is a series of related, well-timed, carefully placed television ads coupled with print advertising in selected magazines and newspapers.
DIRECT MARKETING
refers to direct-to-consumer mail pieces sent to target segments in selected geographic areas, reinforcing the messages from the ads.
PERSONAL SELLING
uses in-person interaction to sell products and services. This is done by the company’s sales personnel who are personally interacting with the customers.
SALES PROMOTIONS
-are marketing communication tools for stimulating revenue or providing incentives or extra value to distributors, sales staff, or customers over a short time period.
SALES PROMOTION ACTIVITIES
include special offers, displays, demonstrations, and other nonrecurring selling efforts that are not part of the ordinary routine
DIGITAL MARKETING
-is an umbrella term for using digital tools to promote and market products, services, organizations and brands. People are now more dependent on digital communications. There are several essential tools in the digital marketing tool kit: email, mobile marketing, websites,and social media marketing.
PUBLIC RELATIONS
-is the process of maintaining a favorable image and building beneficial relationships between an organization and the public communities, groups, and people it serves. PR is often referred to as “free advertising”.
People
are the human actors who play a part in production of goods and service delivery and thus influence the buyer’s perceptions: namely, the firm’s personnel, the customer, and other customers in the environment.
Packaging, silent salesman
is also referred to as “_______” by the marketing people because they believe that it helps in accumulating bigger sales and returns they are very beneficial to small enterprises because they only have few people to promote their product and/or service.
packaging
it is The first thing that customers see on a product , it has the ability to catch or divert their attention in a snap.
CATEGORY OR PRODUCT TYPE
BRAND
VARIANT
FUNCTIONAL BENEFIT(S)
REASON(S)-TO-BELIEVE
EMOTIONAL END-PROMISE OR BENEFIT
CALL-TO-ACTION
SIZE, WEIGHT, CONTENT DETAILS, ETC
elements of packaging
SIZE, WEIGHT, CONTENT DETAILS, ETC
The information such as stated must be shown for the consumers to know.
CALL-TO-ACTION
The reason why consumers should buy the product must also be present in the packaging.
EMOTIONAL END-PROMISE OR BENEFIT
The packaging should also exhibit how the functional benefit fulfills a higher need.
REASON(S)-TO-BELIEVE
The packaging should also present why the consumer should find the claimed functional benefit credible.
FUNCTIONAL BENEFIT(S)
The packaging should show what the product does.
VARIANT
The packaging should display the possible options for the particular product.
BRAND
This will help you make your product be known to many. The name of the product is what the customer usually remembers.
CATEGORY OR PRODUCT TYPE
The customer should know if a product is food, non-food, chemical or etc. It is not good to confuse them with your packaging.
Positioning
is a market concept that outlines what a business should do to market its product or service to its customers.
positioning
the marketing department creates an image for the product based in its intended audience.
Positioning
is simply the definition of a certain product in the mind of the customers. The entrepreneurs must always describe the product based from the perspective of the customers.
