Marketing Assesment 6 8 Questions
Marketing Mix
The marketing mix is often referred to as the '4 Ps', i.e. product, price, place and promotion. To meet customers' needs a business must develop products to satisfy them, charge the right price, get the goods to the right place, and it must make the existence of the product known through promotion.
The 4p’s in marketing theory:
Product
Place
Price
Promotion
Product - The product aspects of marketing deal with the specifications of the products of Britvic plus how it relates to the customer’s needs and wants. . It include things such as: packaging, quality, warranties, branding and after-sales service.
Product lifecycle:
Introduction = high cost, no sales
Launch = high expenditure on promotion and product development
Growth = sales increase
Maturity = sales stabilise, less expenditure on promotion needed
Decline = sales decline, extension strategies can be adapted or the product withdrawn
Extension Strategies are used to increase or maintain the sales. They include: modifying the product reducing the price adding a feature promoting to a different market sector
The Britvic’s company extension strategies is to buy a new brands like Tango from Beechams and that’s how they got the Pepsi and 7UP, then they added Robinsons, Orchid Drinks, Aqua Libra and Pudrey’s brands. It will developed the company and increase by buying brands like 7UP and Pepsi. 7Up and Pepsi are the most recognisable and their are number one in Uk . Britvic planning to launch a Tango variant called Tango Clear without sugar, which was designed to attract older customers as a healthy product.
Place - Place is also known as channel, distribution, or intermediary. It is the mechanism through which products are moved from the manufacturer to the consumer. The Britvic company using business to business strategy and distribution channels are: manufacturer – wholesaler – retailer – consumer and manufacturer – retailer – consumer. Britvic does not have own shops to sell product
The marketing mix is often referred to as the '4 Ps', i.e. product, price, place and promotion. To meet customers' needs a business must develop products to satisfy them, charge the right price, get the goods to the right place, and it must make the existence of the product known through promotion.
The 4p’s in marketing theory:
Product
Place
Price
Promotion
Product - The product aspects of marketing deal with the specifications of the products of Britvic plus how it relates to the customer’s needs and wants. . It include things such as: packaging, quality, warranties, branding and after-sales service.
Product lifecycle:
Introduction = high cost, no sales
Launch = high expenditure on promotion and product development
Growth = sales increase
Maturity = sales stabilise, less expenditure on promotion needed
Decline = sales decline, extension strategies can be adapted or the product withdrawn
Extension Strategies are used to increase or maintain the sales. They include: modifying the product reducing the price adding a feature promoting to a different market sector
The Britvic’s company extension strategies is to buy a new brands like Tango from Beechams and that’s how they got the Pepsi and 7UP, then they added Robinsons, Orchid Drinks, Aqua Libra and Pudrey’s brands. It will developed the company and increase by buying brands like 7UP and Pepsi. 7Up and Pepsi are the most recognisable and their are number one in Uk . Britvic planning to launch a Tango variant called Tango Clear without sugar, which was designed to attract older customers as a healthy product.
Place - Place is also known as channel, distribution, or intermediary. It is the mechanism through which products are moved from the manufacturer to the consumer. The Britvic company using business to business strategy and distribution channels are: manufacturer – wholesaler – retailer – consumer and manufacturer – retailer – consumer. Britvic does not have own shops to sell product