Marketing Mix

Question 1

Goal

Answer 1

Bring the right product to the right place at the right price with the right promotion.

Question 2

1-Products and Services

Answer 2

-Products & services are defined by:
Physical attributes
Performance characteristics
Pricing
Branding
Deilvery

Question 3

2-Price

Answer 3

• Strategies:
  Keystoning: doubling the costs
  Cost plus: cost plus profit margin
  Penetration: low price early in PLC to gain market share
  Skimming: high price early in PLC before competitors enter market
  Meet or beat the competition
  Mark-ups

Question 4

3. Place

Answer 4

• Type of business affects the location that works
  Who are your customers?
  Where do they shop?
• Distribution
  Distribution channels (retailers or warehouses, etc).
  Channel Motivations (what sort of margins should your distributors expect?).
• Criteria for evaluating your distributors.
• Locations.
• Logistics and Supply Chain.
• Goal: Find a location affordable for you yet also convenient for customers.

Question 5

4. Promotion

Answer 5

• Using advertising + publicity to get your market message to your customers
  -Advertising (purchased): billboards, TV ads, magazine ads
  -Publicity (free): mentions in media such as articles, stories on TV, etc.
• Advertising
  what types?
  how much of each type?
  what type of advertising channels — TV, print, internet, etc. – do you plan to use?).
• Public Relations.
  -Promotional programs.
  -Budget, including your break-even point.
  -Projected results of this promotional program (impact to sales, profit, customer loyalty, new customer acquisition, etc.).

Question 6

Some Promotional Ideas

Answer 6

Advertising specialties
Banner ads
Networking
Newsletters
Print media
Promotional clothing
Public speaking
Samples/demos
Special events
Sponsorships
Telemarketing
Toll free numbers
Web sites

Billboards
Blogs
Broadcast media
Brochures
Business cards
Catalogs
Coupons 
Direct mail
Directories
Flyers