3.4a The Marketing Mix Flashcards
The seven P’s
- Price
- Promotion
- Place
- Product
- People
- Process
- Physical environment
Main influences of the marketing mix
- Amount of finance available
- Technology
- Market research
Three elements of a product
- Actual product
- Core product
- Augmented product
Actual product definition
Specific thing customers receive
Core product definition
Primary product benefit customers receive
Augmented product definition
Characteristic that makes product different to any other similar product
What is business to consumer also known as?
Consumer marketing
Three different types of products
- Convenience products
- Shopping products
- Specialty products
Convenience products features
- Purchased regularly
- Bought by habit
- Low-priced
- Impulse buys
Convenience product examples
- Sweets
- Crisps
Shopping products features
- Purchased often but not as often and convenience products
- Planned purchases
- Bought because of their augmented qualities
- Higher prices can be charged
Shopping products examples
- TV’s
- Beds
- Hairdressing
Specialty products features
- Unique characteristics
- High prices
Specialty products examples
- Designer clothes
- Cars
What is business to business also known as?
Industrial marketing
Is advertising in business to business informative or persuasive?
Informative
To be successful a product should be
- Fashionable
- Aesthetically pleasing
- Convenient
- Legal
- Durable
- Safe
- Reliable
