10 p's of marketing

TEN P’S OF MARKETING

MARKETING MIX:
1. The marketing mix approach to marketing is a model of crafting and implementing marketing strategies.
2. It stresses the "mixing" or blending of various factors in such a way that both organizational and consumer objectives are attained.
3. When blending marketer(s) must consider their target market.
4. Marketing Mix is a term used to describe the combination of tactics used by a business to achieve its objectives by marketing its products or services effectively to a particular target customer group.

ITS IMPORTANCE:
Businesses need to make sure they are marketing:
- The right product to
- The right person at
- The right price in
- The right place and at
- The right time

For example: If you manufacture pens, and have decided to target school children, it would be more appropriate to market:

- Coloured ballpoint pens (product)
- At a low price (price)
- Selling them through newsagents and stationers (place)
- And promoting them through point of sale material (promotion)

Than it would be to market:

- Gold fountain pens (product)
- At a high price, including insurance against loss (price)
- Selling them through specialist outlets and jewellery stores (place)
- And promoting them in glossy magazines and Sunday Supplements (promotion)

P’s OF MARKETING:
PRODUCT:
Marketers need to be sure that your products and services continue to meet your
Customers needs.

1. Carry out simple research by asking your customers:
- What they think of each product/service
- How satisfied are they with the quality
- How satisfied are they with any support services you may provide
- How effective ...
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