Marketing Mix 2. Brand Name Definition: A trade name used by an enterprise to name their products or services. The brand name of this product is sWaP‚ which stands for smart Watch and Phone. 3. The Customers The customers would be: People interested in technology Business Minded People People who want more features on their watch for a lower price Would like a fashionable watch People who like a conversation starter Want a phone as well as a watch Do not want to pay a £1000 for a watch 4. Importance
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Marketing Mix MKT/421 November 13‚ 2013 Dr. Brett Branch Marketing Mix The market mix is a tool used by marketing firms use as a guide to meet their marketing goals. The marketing mix also known as the 4Ps of marketing (product‚ place‚ price‚ and promotion) plays an important part in growth of an company or organization. Product is producing the right product for the right target market. Place comes down to just getting the product to the market targeted area‚ the product is wasted
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The Marketing Mix (4p’s) The marketing mix consists of Product‚ Price‚ Place and Promotion strategies that a firm uses to help them reach their objectives. The marketing mix principles are controllable variables which have to be carefully managed and must meet the needs of the defined target group. All elements of the mix are linked and must support each other. PRODUCT STRATEGIES When an organization introduces a product into a market they must ask themselves
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Marketing Principles Today‚ marketing must be understood not in the old sense of making a sale‚ but in a new sense of satisfying customer needs. Without customer needs there is no marketing. If the marketer understands customer needs; develops products that provide superior customer value; and prices‚ distributes‚ and promotes them effectively‚ these products will be sold easily. Selling and advertising are just part of “marketing mix” which is a set of marketing tools that work together to satisfy
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The marketing mix is a business tool used in marketing and by marketeers . The marketing mix is often crucial when determining a product or brand ’s offer‚ and is often associated with the four P ’s: price‚ product‚ promotion‚ and place.[1] In service marketing‚ however‚ the four Ps are expanded to the seven P ’s [2] or eight P ’s to address the different nature of services. In the 1990 ’s‚ the concept of four C ’s was introduced as a more customer-driven replacement of four P ’s.[3] There are two
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Red Bull Case Study Briley Cienkosz Keiser University Dr. Ralf Wilhelms MKTG 531 October 12‚ 2014 “With as much caffeine as a cup of coffee‚ a can of Red Bull is all about energy. The brand’s promise is that it will increase performance‚ concentration‚ reaction speed‚ vigilance‚ and even well-being. How to tell that story? It is not easy in a cluttered confusing world of canned drinks with energy connotations like Monster‚ Gatorade‚ Coca-Cola and many more. The answer is not taste
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MARKETING PRINCIPLES NADISHA ADIKARI HND/BM/49 ICBT CITY CAMPUS LECTURER- MRS. INOKA GUNARATHNE Acknowledgements First and foremost‚ I would like to gratefully acknowledge the enthusiastic supervision of Mrs. Inoka Gunarthne throughout the journey of making this assignment a success by walking beside me. As it is said‚ no one walks alone on the journey of life. I take immense pleasure to thank her. I would also like to thank my beloved parents who inspired‚ encouraged and fully supported
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Q1 Explain Marketing Mix for these Products and Service industries with suitable example of a company. 1) FMCG 2) Telecom 3) Education Answer : Marketing Mix of FMGC Product : Colgate[ Sensitive toothpaste ] : Product: " Colgate sensitive toothpaste is toothpaste which provides relief to sensitive teeth. " Some people’s teeth’s are normally sensitive towards special kind of conditions like when coming into contact with hot or cold substances. " Here this toothpaste provide relief
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RED BULL: BUILDING BRAND EQUITY IN NEW WAYS 02-05-2011 Question 1: Describe Red Bull’s sources of brand equity. Do these sources change depending on the market or country? Answer: Red Bull has a strong marketing strategy for communicating product value to customers. The strategy for building the brand has been created around a simple goal. Whenever a consumer is in need of energy‚ the company wants then to automatically think of Red Bull. The brand uses traditional media channels
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The 4Ps and the marketing mix The 4Ps are the ideas to consider when marketing a product. They form the basis of the marketing mix. Getting this mix right is critical in order to successfully market a product. The 4Ps are: 1. Product 2. Price 3. Promotion 4. Place If market research is carried out effectively‚ a company can plan a promotion for the right product‚ at the right price‚ and to get it to their chosen market‚ in the right place. Now look at the 4Ps in more
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