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1.3 Marketing mix - Coggle Diagram
1.3 Marketing mix
1.3.3 Price
Competitive pricing - similar to market level
Predatory pricing
Cost-plus pricing: Adding % mark up to ensure profit
Psychological pricing - pricing below rounded number for illusion
New products:
Price skimming - high price at the beginning
Penetration
1.3.2 Promotion
Brand (rep, image, awareness)
Methods: advertisinf
Sponsorships
Social media
Advertising
Print advertising
TV
Method: discounts & offers
1.3.4 Place/ distribution
Place is the location/ distribution is the process
Direct distribution channels - producer straight to consumers
Indirect - producer - retailer - consumers
1.3.1 Product
What is being sold (good/ service)
Focus on features/ quality
Design mix
Aesthetics - how it appears to the sense
Economic cost - costs to profuce
Function - how it works
1.3.5 Marketing strategies
Boston matrix (market growth/ share)
High-high = star
High g, low s = problem child
Require investment (advertisment)
low g, high s = cash cow
Low g, low s = dog
Product life cycle
