Marketing Mix

marketing mix

is a

special tool used in the

implementation of any

business, which is

made up of seven

distinct but

interconnected

variables.

1. Product

2. Place

3. Price

4. Packaging

5. Promotion

6. People

7. Positioning

The extended 7 P’s

1. Prodcut

2. Price

3. Promotion

4. Place

The traditional 4ps

The Traditional 4P’s

which were all used in gauging

the business’s ability to exist in a

competitive marketing

landscape.

Product

refers to the goods or services being offered by the

business.

1. Tangible

2. Intangible

2 Product Classifications

Tangibles

• 2 Product Classifications

• are those items that have actual

  physical presence. The benefits

  of these products can be

  evaluated based on visual

  comparisons.

• Physical Assets

Intangibles

• 2 Product Classifications

• are those items that have no physical

  presence and can only be felt indirectly.

  Under this classification are the virtual

  intangibles, which can be digitally found

  and accessed by using a computer.

• Not physical in nature

Tangible products

appeal to quality.

Intangible products

appeal to experience

or emotional connection.

1. Convenience Products

2. Shopping Products

3. Specialty Products

4. Unsought Products

4 Categories of Products

Convenience Product

is a low-cost

item that should take

the least amount of

work on the buyer's

part to pick and

acquire.

• 4 Categories of Products

1. Purchased Frequently

2. At a low price point

3. Easily available

4. not commonly compared with other products

Characteristics of Convenience products

Shopping Products

• are bought less frequently by

  consumers. Consumers

  usually compare attributes

  of shopping products, such

  as quality, price, and style,

  between other products.

• 4 Categories of Products

1. Purchased Less Frequently

2. At a Medium Price point

3. Commonly compared among other products

Characteristics of Shopping Products

Specialty

Products

• 4 Categories of Products

• are

  products with unique

  characteristics or brand

  identification.

• Consumers of such

  products are willing to

  exert special effort to

  purchase specialty

  products.

• With unique characteristics or brand perception

• Purchased less frequently

• At a high price point

• Seldom compared between other products

• only available at select/special places

Characteristics of Specialty Products

Unsought products

are products that

consumers do not

normally buy or would

not consider buying

under normal

circumstances.

• 4 Categories of Products

• not top-of-mind of consumers

• Requires entensice advertising and marketing efforts

Characteristics of Unsought Products