Marketing Mix

4 P's:

1. Product

2. Place

3. Promotion

4. Place

Product:

• The Product is the item/service for sale.

Price:

• Price is the value placed on a product. This is usually what a customer is prepared to pay.

• You have to Cover Costs and have a profit margin.

• Price will depend on your target market.

Promotion:

• Promotion is all about getting the attention of the customer so the know about the product/service.

Different Types of Promotion:

• Sales promotion - Using special offers to encourage customers to buy.

• Personal Selling - Face to face or telemarketing.

• Public Relations - Communicating with the media to get a positive public image.

• Advertising - Sending messages to the customer to get them to want to buy the product/service.

Different Types of Advertising:

• Persuasive Advertising - Convinces/Persuades people that they need a particular product or service.

• Remind Advertising - Used to remind customers that a product or service is still available.

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