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The Marketing Mix - Coggle Diagram
The Marketing Mix
Product planning
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2) Idea generation from: research labs; customer feedback; copying rivals; collaboration with other firms; or periodic reviews of products
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5) Analysis of target market, what prices to sell at (and other of the Ps) and the financial goals/aims for the product
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7) Test marketing the prototype, in labs, small consumer groups or with virtual shops
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8) Commercialisation and full launch of the product - needs to be planned to not have competitors releasing products at similar times which could take consumers
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Promotion (Distribution)
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The promotion mix :
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DIRECT MARKETING
Communication delivered directly to consumers (leaflets, cold calls)
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SPONSORSHIP
Paying an event, celebrity or firm to endorse your product
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PUBLIC RELATIONS
Non-paid, 3rd party communications
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ADVERTISING
Paid communication through mass media (TV, radio, printed etc)
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"an audience-centred activity, designed to engage audiences and promote conversations" (Fill and Turnbull, 2013, p20)
Brand perception
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People, events etc the brand sponsor says a lot about brand perception - anything they do is associated with brand
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Bad publicity from poor consumer service can have a lasting effect on brand perception - especially if it made mainstream media
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Product
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Four types of product
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Shopping
Less often bought, selected on price, quality etc
Speciality
Special occasion, expensive and based on brand preference
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Extra Ps
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People, process and physical evidence (for services)
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