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Published byMagnus Ross Modified over 8 years ago
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The Marketing Mix Discussion of the 4Ps
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What is the Marketing Mix? Often referred to as the 4Ps The variables through which a company carries out its marketing strategy “The set of marketing tools that the firm uses to pursue its marketing objectives in the target market” (Kotler)
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The 4Ps ProductPlace PricePromotion
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Product A collection of features and benefits that provide customer satisfaction – Design – Quality – Packaging – Accessories – Branding – Features
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Place Covers location, distribution channels and the logistics involved – Retail – Wholesale – Mail Order – Internet – Direct Sales
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Price Value perceived in the mind of the consumer – Payment terms – Credit terms – Price variations – Basic price – Pricing Policy
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Promotion Marketing communications – Special Offers – Advertising – Direct mailing – Leaflets / Posters – Free gifts – Competitions
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