Building a successful marketing mix 22nd October 2013 Mr Nicholls Year 11 Business Building a successful marketing mix 22nd October 2013 Mr Nicholls

Objectives To consider how a business can use the 4P’s of marketing to build a successful marketing mix.

Today… Today we need to consider the 4P’s of marketing in an official capacity to ensure we’re 100% aware of them, and understand them all.

The 4 p’s: Product - the product (or service) that the customer obtains Price - how much the customer pays for the product Place – how the product is distributed to the customer Promotion - how the customer is found and persuaded to buy the product

The Marketing “MIX” It is known as a “mix” because each ingredient affects the other and the mix must overall be suitable to the target customer. For instance: High quality materials used in a product may mean that a higher selling price can be achieved An advertising campaign carried in one area of the country requires distribution of the product to be in place in advance of the campaign to ensure there are no disappointed customers Promotion is needed to emphasise the new features and benefits of a product

Putting together an effective marketing mix An effective marketing mix is one which: Meets customer needs Achieves marketing objectives Is balanced and consistent Creates a competitive advantage for the business

Focus Always remember though – normally a business focuses on one or two key areas for their approach:

Your turn… Using the resources available to you in the room – find and label an example of where a business has used the marketing mix in their promotion and how.