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Copy of Marketing Mix - the 4Ps

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by

Christopher Heath

on 18 September 2014

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Transcript of Copy of Marketing Mix - the 4Ps

Price
This is about the pricing strategies used:

Cost Plus Pricing
Psychological pricing
Skimming pricing
Competition pricing
Penetration pricing
Premium pricing
Loss Leader Pricing
Place
Where can customers exchange their money for the product
Its about the distribution network
online and/or physical presence
physical store (supermarket, departmental stores)
online stores (e-markets and e-malls) on the Internet.
Product
product range
product features
product benefits
product life cycle
Marketing Mix - the 4Ps
In this lesson we moving on to
The Marketing Mix - the 4Ps

A business tool used in marketing to analyse the :

Product
Price
Promotion
Place
Over to you :
Group Task
List the following for the IPhone
its product range
its product features
its product benefits
its product life cycle
Kellogg's product range
Product features
A feature is what your product or service has or does.

Measurements, colors, weight and capabilities are all features.

What is a feature of Kelloggs Rice Crispies?
Product benefits
A benefit is something of value or usefulness to customers

Benefit explains what the
features
mean and why they are important.

Think of a benefit of one of the Kelloggs products
Describes the stages a product goes through from when it was first thought of until it finally is removed from the market
Individual Task
Pricing Strategy
List 1 existing product for each of the Pricing strategies listed.
Pair work
In pairs explain
Place
with reference to the IPhone
Promotion
Its about
promotional mix
- the mix of promotional/communication methods used
advertising (different media, TV, Radio, online techniques)
personal selling
public relations
sales promotion
direct marketing
branding
packaging
social media marketing
Group Task
Using examples explain the promotional method used to promote the IPhone
A I D A
A - Attention (Awareness)
: attract the attention of the customer.
I - Interest:
raise customer interest by focusing on and demonstrating advantages and benefits (instead of focusing on features, as in traditional advertising).
D - Desire:
convince customers that they want and desire the product or service and that it will satisfy their needs.
A - Action:
lead customers towards taking action and/or purchasing.
Homework
Homework

Explain the 4P's for a
product or brand of your choosing.

Lesson Introduction
Last week we looked at Market Research and you are currently carrying out your market research project. In pairs discuss the importance of market research in developing a
Product
, determining its
Price
, deciding the
Place
to sell it and deciding on the best methods of
Promoting
the product.

Full transcript