The Marketing Mix Most famous phrase in marketing Also known as the __________ The marketing mix elements are _____ _____, _______, and ________. _____,_______,________.

The Marketing Mix - Price There are many _______________ to price a product.

The Marketing Mix - Price _____________ Use a ____ price where there is a ___________ about the product or service. This approach is used where a substantial ___________________ exists.

The Marketing Mix - Price ____________ Pricing The price charged for products and services is set artificially _____ _________________. Once this is achieved, the price is increased.

The Marketing Mix - Price ____________ Pricing This is a ___________ _____ price. The cost of marketing and manufacture are kept at a minimum.

The Marketing Mix - Price Price _____________ Charge a ________ because you have a substantial competitive advantage. However, the advantage is not ____________. The high price tends to attract new ____________ into the market, and the price inevitably _______ due to _________ supply.

The Marketing Mix - Place Place is also known as _____________ ________________________. It is the mechanism through which goods and/or services are ______ from the ___________________________ to the _______________.

The Marketing Mix - Place There are a few basic 'channel’ decisions: 1.Do we use ______ or _______ channels? (e.g. 'direct' to a _________, 'indirect' via a _____________). 2.Single or multiple channels. 3.Types of intermediary ___________

The Marketing Mix - Product Introduction The product is promoted to create _____________. If the product has no or few competitors, a _____________ price strategy is employed.

The Marketing Mix - Product Growth ________________ are attracted into the market with very similar offerings. Products become more profitable and companies form ______ ___________________ ___________________.

The Marketing Mix - Product Maturity Those products that survive the earlier stages tend to _______ __________________. Sales grow at a ____________ rate and then __________. Producers attempt to ____________ products and brands are key to this. Price wars and intense competition occur.

The Marketing Mix - Product Decline At this point there is a ________ in the market. For example more __________ products are __________ or consumer tastes have changed. There is intense _______ _______ and many more products are withdrawn from the market..

The Marketing Mix - Promotion Promotion represents the various aspects of ___________________, that is, the communication of information about the product with the goal __________________________________.

The Marketing Mix

Put the following products on the Product Life Cycle (PLC). Smart cars in Europe Smart cars in Canada Smart Cars in USA Cell phones Cigarettes in North America Cigarettes in the developing world Kit-Kat and Aero chocolate bars PC greenest shopping bag

Put the following products on the Product Life Cycle (PLC). MS-DOS. Internet Telephones (WAP or 3G). Palmtop computers. Play Station 2. Sega Megadrive. Fax machines.