promotional mix
Introduction:
The marketing mix is a business tool used in marketing and by marketing professionals. The marketing mix is often crucial when determining a product or brand's offering, and is often synonymous with the four Ps: price, product, promotion, and place; in service marketing, however, the four Ps have been expanded to the Seven Ps or Eight Ps to address the different nature of services.
Definition:
The definition that many marketers learn as they start out in the industry is: Putting the right product in the right place, at the right price, at the right time.
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix.
When marketing their products firms need to create a successful mix of: the right product sold at the right price in the right place using the most suitable promotion.
To create the right marketing mix, businesses have to meet the following conditions:
The product has to have the right features - for example, it must look good and work well.
The price must be right. Consumer will need to buy in large numbers to produce a healthy profit.
The goods must be in the right place at the right time. Making sure that the goods arrive when and where they are wanted is an important operation.
The target group needs to be made aware of the existence and availability of the product through promotion. Successful promotion helps a firm to spread costs over a larger output.
1.Product: (refers to the item actually being sold)
A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service. For example good will for intangible. Tangible products are those that have an independent physical existence. Typical examples of mass-produced, tangible objects are the motor car and the disposable razor. A less obvious but ubiquitous mass-produced service is a computer
The marketing mix is a business tool used in marketing and by marketing professionals. The marketing mix is often crucial when determining a product or brand's offering, and is often synonymous with the four Ps: price, product, promotion, and place; in service marketing, however, the four Ps have been expanded to the Seven Ps or Eight Ps to address the different nature of services.
Definition:
The definition that many marketers learn as they start out in the industry is: Putting the right product in the right place, at the right price, at the right time.
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix.
When marketing their products firms need to create a successful mix of: the right product sold at the right price in the right place using the most suitable promotion.
To create the right marketing mix, businesses have to meet the following conditions:
The product has to have the right features - for example, it must look good and work well.
The price must be right. Consumer will need to buy in large numbers to produce a healthy profit.
The goods must be in the right place at the right time. Making sure that the goods arrive when and where they are wanted is an important operation.
The target group needs to be made aware of the existence and availability of the product through promotion. Successful promotion helps a firm to spread costs over a larger output.
1.Product: (refers to the item actually being sold)
A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service. For example good will for intangible. Tangible products are those that have an independent physical existence. Typical examples of mass-produced, tangible objects are the motor car and the disposable razor. A less obvious but ubiquitous mass-produced service is a computer