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marketing mix: place and promotion - Coggle Diagram
marketing mix: place and promotion
price elasticity of demand:
price inelastic demand
price elastic demand
revenue
channels of distribution: how a product gets from the producer to the final consumer
wholesaler: a business that buys products in bulk from producers and then sells them to retailers
retailor: shops and other outlets thats sells good and services to the final consumer.
middlemen: these are the intermediary in the channels of distribution
promotion: marketing activities used to communicate with customers and potential customer to inform and persuade them to buy a businesses product.
advertising: paid for communication with consumers which uses printed and visual media. the aim is to inform and persuade consumers to buy a product
informative advertising: information about the product is communicated to consumers to create product awareness and attract their awareness
persuasive advertising: communication with consumers aimed at getting them to buy a firms product rather than a competitors product.
below the line promotion: sales staff communicate directly with the consumer to achieve a sale and form a long term relationship between the firm and consumer.
sales promotion
direct mail: printed materials which are sent directly to adresses of customers
sponsorship: payment by a business to have its name or products associated with a particular event
marketing budget: the amount of money made available by a business for its marketing activities during a particular period of time
e-commerce
direct selling: the product is sold by the producer directly to the final consumer without the need of middlemen