The Marketing Mix 4 Ps of Marketing.

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Presentation transcript:

The Marketing Mix 4 Ps of Marketing

Product Mix Includes research, product development, packaging and branding All McDonald’s products have a “Mc” in front of it McPizza developped because market research showed that pizza is the company’s biggest competitor- failed because Mc Donalds not seen as pizza place

Promotion Advertising, sales promotions and publicity Magazines, tv ads, free give aways etc

Pricing Different styles of pricing Loss leader pricing- charge a price where owner is losing money in the hopes that customer will buy other stuff Competitive Pricing? Psychological pricing? Why will someone buy something that is $29.99 vs $30.00

Place Physical distribution, storage, inventory management How the product or service is delivered to customer- ie drive thru, delivery “place utility”- sell more if the product is closer to customer’s use for product Ie ice cream sell more in the grocery store than in factory

Your Task: Choose a product that you have purchased and fill out the chart given by me. Two people at the same table CANNOT do the same product. So discuss your product with your table.