4 Ps of Marketing Mix

http://www.bized.co.uk

Copyright 2006 – Biz/ed

The Marketing Mix

Tools used by a business to gain the

reaction it wants from its target market

~ The 4Ps of Marketing ~

Price

Product

Promotion

Place

http://www.bized.co.uk

Copyright 2006 – Biz/ed

http://www.bized.co.uk

Copyright 2006 – Biz/ed

Price
• Pricing Strategy

– Cost-plus
– Buying Patterns
– Competition
– Customer Perception

• Important to know:

– Your market
– Elasticity – how variable is the

price

– Your competition
– Buyers want to buy low & sellers

want to sell high

http://www.bized.co.uk

Copyright 2006 – Biz/ed

Product

• Methods used to improve / differentiate

a product & increase sales to gain a competitive edge
– Special versions or new editions
– Improvements on product
– Change packaging
– Technology – how new & cool is it?
– How useful is it?
– What is its quality?
– How should it be packaged?
– Warranties or accessories
– Is there a brand name?

http://www.bized.co.uk

Copyright 2006 – Biz/ed

Promotion

• Strategies to make consumer aware of

product / service
– NOT just advertising
– Who will endorse / promote it?
– Consumer trials?
– Free gifts/samples/promotions
– Getting consumer involved...ask

them

– Joint projects with other companies

http://www.bized.co.uk

Copyright 2006 – Biz/ed

Place

• How products / services get from

producer to consumer
– Manufacturer to wholesaler to retailer
– Logistics - train, ship, 18-wheeler

• Where product / service can be

accessed by consumer
– Mail, Internet, face-to-face, end caps
– More places to buy the product & easier it

is to buy it, better for business & consumer

Multiple Choice

The item meets the consumer's needs or desires.

• Price

• Product

• Place

• Promotion

Multiple Choice

The amount customers are charged to use/buy the good or service.

• Price

• Product

• Place

• Promotion

Multiple Choice

Involves determining where the product will be available for consumers to purchase.

• Price

• Product

• Place

• Promotion

Multiple Choice

The advertisement tools used.

• Price

• Product

• Place

• Promotion

Multiple Choice

Alltel, a phone store, decided to market its new line of video phones. Under which marketing function does this decision fall?

• Price

• Product

• Place

• Promotion

Multiple Choice

Which marketing function is Old Navy using when it creating a new commercial for television?

• Price

• Product

• Place

• Promotion

Multiple Choice

Sean is trying to decide where he should locate his new business. Under which marketing function does this action fall?

• Price

• Product

• Place

• Promotion

Multiple Choice

Samsung is working to improve its least popular cell phone. Under which marketing function does this action fall?

• Price

• Product

• Place

• Promotion

Multiple Choice

Because HDTV sets had become so popular, Walmart decided to lower the costs of traditional TV sets to move them off the shelf and make room for more popular HDTVs. Under which marketing function does this action fall?

• Price

• Product

• Place

• Promotion

Multiple Choice

Mary's Muffin Shop has been in business for three years. Since the shop has been so successful, Mary is looking for a location for a second shop. Under which marketing function does this action fall?

• Price

• Product

• Place

• Promotion

Multiple Choice

Amazon.com decided to create ads to place on Facebook.com. Under which marketing function does this action fall?

• Price

• Product

• Place

• Promotion

Multiple Choice

When customers rushed to H&M to buy jeans for $19.99, the Gap decided to offer customers a similar discount. Under which marketing function does this action fall?

• Price

• Product

• Place

• Promotion