The Modern Marketing mix.
Product – a product is designed to be sold to a certain type of people, it can also be
a service of good, and the product has to be in demand for your market otherwise it
won’t sell.
Price - the price should always represent that the product is good value for money,
the price won’t have to be the cheapest on the market because the extra cost can
represent a better build quality and the product will function for longer.
Place – the product will be available at where your target market is likely to shop,
whether that is in store or online.
Promotion – is in reference to how you advertise your product to your target market
which includes Social Media, PR, Sales Promotions and Personal Selling. Promotion
should either be informative or target the emotions of the target audience.
People – who you employ to sell your products e.g. your employees and managing
director because they are in contact with your target audience.
Process – is in reference to the delivery of your product/ service because that is a
part of what your customer has paid for.
Physical Evidence – next to all services have some physical parts to them, even a
document for insurance in the form of a file that is electronically stored counts as a
physical item.
My Three Organisations.
Marketing Tesco’s EBay Argos
Mix
Product Tesco also offer a wide EBay enable sales a wide Argos offers a variety of
variety of products as range of products to be products, they don’t
they operate in both the sold on their site from offer groceries similarly
tertiary sector but also cosmetics to cars. Orders to that of EBay however
Business to Consumer can be cancelled or the business doesn’t
which has allowed them returned if there is any allow for 3rd party sellers
to grow because they issue with them so it’s like EBay does and the
have such a large target quite a risk free service. items sold by Argos are
market. They maintain a The most popular that of a new condition
money back guarantee products to be sold on and not used.
which instils confidence EBay are Lego, IPhones
in consumers. and Gaming Consoles.
Price Tesco’s pricing strategy On EBay prices are Argos’s pricing strategy
is centred around their established through two depends on the product
marketing campaign different channels, lines, Items from
“every little helps” the through bidding where another manufacturer
company aims to reduce the buyers must place the will be sold at a price
the cost of purchases and highest bid through an close to the RRP of the
operational costs to pass auction process which is items as stated by the
the financial advantages slower than the other manufacturer, for
to the customer, they method which is simply example the Amazon