The Marketing Mix – Course Note – Biessan Zeidan
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The Marketing Mix
Biessan Zeidan
Chapter 38: Marketing MixProductFunctional – means that product must perform the function its been bought forAppearance – product should look goodUnique Selling Point (USP) – it is better if product contains something different from other similar productsProduct Lifecycle – businesses should modify the products or make new productsPriceCustomers want value for money. Price should be set depending on the following factors:Quality of productCost of productionPrices charged by competitorsHow much customers are prepared to payPromotionBusinesses have to make sure that their customers know about their productsThey need to provide information such as:Details about the nature and range of productPricesWhere it can be purchasedBusinesses can also try to persuade people to buy their products.PlacePart of the marketing mix where products are distributedProducts must be in convenient places and is easily accessible for customersWhat Can Influence the Marketing Mix?Nature of the productCompetitionMarketing budgetCompetitor’s mixTechnologyMarket research
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By: Biessan Zeidan
Submitted: October 26, 2016
Essay Length: 353 Words / 2 Pages
Paper type: Course Note Views: 397
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