Market Mix
cost of production
Price
Goals
(O)
Objective
written document that def the target market and promotions
Marketing plan
a skirt cost $10 to mark and sells fore $15
Profit 0r price
designed to interest a specific group of people classified by gender or age
Target market
Large billboard downtown
Promotion
Make decisions regarding products, price, place etc...
(S)
Strategies
Levi sources cotton India, textile mills in china
Jeans manufactured in mexico
globalization
Considering color, style, and quality
product
List (2) Target market is defined by using the following information:
D, G, E, B, P
Demographic, geographic, economics, behavioral, psychographic
how much space is necessary for the supply
Place
Timeline:
(A)
Action Plan
Markup, profit,
price
Marketing goals
Objective
Belk defines the price and geographic records of an area to determine a new store location=target market
True or False
false
Ralph Lauren uses a polo player on the horse
Product
Old Navy offers free shipping
(S)
Strategies
Qualities such as age, gender, income
Demographics
Snapshot of the environment that a business has been operating
(SA)
situation analysis
Walmart stocks _____ items in it coastal stores and ____ camping items in the mountain north Carolina
beach & camping
List decisions about the Marketing Mix ? (4)
Price, product, place , promotion
List Only (4) parts of a Market Plan
Situation Analysis
Objective
Strategies
Tactics
Action Plan
businesses marketing objectives and strategies and tactics
Market Mix
What part of Market plan includes specific sales at certain time of the year
Tactics
Factors that may affect a target market (customer) purchasing decisions (2)
Season, price, availability, emotion , services