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Marketing Mix "The 4ps"
Transcript of Marketing Mix "The 4ps"
The "4" wheels of a car
A puzzle, that should be fitted together in the right order
2-tangible & intangible benefits
4- physical attributes
Fair price>>>competitive>reasonable profit
What price to charge!!>>>>breakeven analysis
Marketing Mix "The tactical 4ps"
The pricing strategy must answer the following questions:
Firstly: calculate your costs
Secondly: estimate the benefits
Thirdly: compare the price to others
Fourthly: determine ROI and what time frame
Traditionally there are three parts to the Sales and Distribution section, although all three parts may not apply to all business.
1) the distribution methods to be used.
a) What distribution channel is going to be used?
direct distribution channel : gives a manufacturer complete control over their product.
The traditional distribution channel “indirect” is distributing your product by the use of an intermediary
b) distribution strategies: there are three common distribution strategies available:
Intensive distribution: Used commonly to distribute low priced or impulse purchase products
Exclusive distribution: Involves limiting distribution to a single outlet. The product is usually highly priced (sale of vehicles through exclusive dealers)
Selective Distribution: A small number of retail outlets are chosen to distribute the product. (computers, televisions household appliances)
c) If your business involves selling a product, you should also include information about inventory levels and packaging in this part of your marketing plan. For instance:
How are your products to be packaged for shipping and for
2) Outline the transaction process between your business and your customers.
What system will be used for processing orders, shipping, and billing and What methods of payment will customers be able to use?
What credit terms will customers be offered? If you will offer discounts for early payment or impose penalties
for late payment, they should be mentioned in this part of your marketing plan
3) outline your sales strategy :
What types of salespeople will be involved (commissioned salespeople, product demonstrators, telephone solicitors, etc.)?
Will a sales training program be offered? If so, describe it in this section of the marketing plan.
ITS OBJECTIVE: deliver your USP
AS A START: 1) determine the message you want
2) decide which promotion activity to
THE PROMOTION ACTIVITIES:
c) marketing materials
The best way is to:
FIRSTLY: think interm of media
SECONDLY: which media will be more effective
THIRDLY: make decisions on how much of your annual advertising budget you are gonna spend on each medium
FOURTHLY: your projections about how much business the advertising will bring in.
B) sales promotion
c) MARKETING WEBSITES
1) business cards
D) BUSINESS WEBSITES
•special events, including community involvement
•getting and using testimonials
pick the right ones and go equipped to put your promotion plan into action
set your goals for your tradeshow participation
Research tradeshows (site, goals, audience)
Once you have chosen particular tradeshows, plan your budget and book your space
Plan your tradeshows display interms of the audience (targeting retailers or wholesalers or business industry…)
Advertise in advance (by inviting your clients, customers, suppliers and other contacts to attend the show)