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Marketing Mix

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A look at the 7P's of the marketing mix, including types of pricing, promotion and marketing.

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  • June 30, 2016
  • 6
  • 2014/2015
  • Class notes
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Marketing Mix




 This is a marketing tool that will help you achieve your objective.
 Definition: The elements of an organisations marketing plan that are designed to meet the
needs of its customers.

Marketing Objectives:

 To target a new market or segment.
 To achieve or maintain market share.
 To develop a range of products.
 To increase profitability or revenue.
 To improve or change the image of a product.
 To develop a brand's value.

Product:

 The product must meet what the market demands.
 Clever marketing won't create demand but it may awaken latent demand but it cannot create
demand when the public do not wish to purchase the product of service being offered.
 A product must be produced that people want which is either brand new or a modified existing
product. To get the product, product development must be carried out through market research and
a prototype which is expensive and adds to the overall costs the business faces.
 In today's market meeting needs of the consumer and high quality isn't enough, the product has to
exceed customer needs and delight the customer.

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