Entrepreneurship

Entrepreneurship

Marketing Mix

• Product

• Place

• Price

• Promotion

• People

• Packaging

• Positioning,

PRODUCTS

refers to the tangible good or intangible service offered by the business to the target consumers.

PLACE

The term place in the marketing mix simply refers to the location where the target consumers are

PRICE

• 1. Availability of the competing products

  2. Cost of making the product

  3. Type of product

  4. Presence if substitute products

  5. Stages of the product in the market

  6. Demographic profile of the target consumers

  
  

PROMOTION

• 1.      Advertising

  2.      Publicity

  3.      personal selling

  4.      Sales promotion

  5.      Direct marketing

PEOPLE

refers to individual employees or workers who are directly involved in the production, marketing, and sale of the product or service. Hence, the entrepreneur must be sure to hire the right person for the position.

PACKAGING

packaging refers to the process putting the product in the package or container.

POSITIONING

refers to the place occupied by the product in the minds of the consumers.