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THE MARKETING MIX (PRODUCT (Who are the competitors and what are they…
THE MARKETING MIX
PRODUCT
Who are the competitors and what are they offering?
Who is the target market? How will the product meant their needs?
What is the unique selling point?
How will the products be packaged?
PRICE
:
What will be charged for your product?it will be based on:
Price charged by competitors
Desired profit
Cost to make
PLACE
Where will you sell the product or service? The options are:
To wholesalers
Who will buy the product in bulk, then sell it to retailers
Directly
From your own shop or websites
To retailers
Shops
PROMOTION
Advertising
Informative
Provides information to the consumer about the product
Persuasive
Aims to convince the consumer to buy their product
Competitive
Aims to show that the brands product is better then the competitors
Generic
Promotes product categories instead of certain brands
Digital Marketing
Promotion of goods using digital media
Sales promotion
Coupons
Competitions
Special discounts
Samples
Free gifts
Public relations
Sponsorship
Working with the pres
Engaging with community