Marketing Mix
The Marketing Mix is also known as the
4 P's
The dollar amount charged for an item.
Price
Products with no brand name, often sold at a lower price. Packaging is usually plain and simple
Generic
the idea a business should satisfy customer needs and wants to achieve its own goals
Marketing Concept
Diapers
Parents, Caretakers, or Guardians
This P has to do with what is being sold
Product
Transporting, tracking, and storing a product.
Channel Management/Distribution
Products that are owned and distributed by a large company and sold in many different stores
National
How does a business find out what customers want or need
Market Research
Cat Food
People who own cats
This P has to do with where
Place
Updating a product or service based on consumer wants/needs.
Product Service management
Brands owned by a retailer or wholesaler, not the manufacturer (e.g., Target's Up & Up, Costco's Kirkland Signature).
Private
Marketing Concept benefits: Consumers or Businesses
Both
XBOX
People who game
This P has to do with how much
Price
Gathering, monitoring, and analyzing data
Market Information management
When two or more brands team up to create a new product or service.
Co-Branding
Companies listen to your feedback.
A more positive and satisfying experience
Who benefits?
Consumers
Stethoscope
Doctors or Nurses or Medical Students
This P has to do with how something is marketed
Promotion
The exchange of goods/service for money.
Selling
The human characteristics we assign to a brand
Brand Personality
Customer Loyalty and trust.
Competitive Advantage by staying ahead.
Who benefits?
Businesses
Gluten Free Cookies
People with Gluten intolerance