Product Product Price Price Place Place Promotion Promotion

The Marketing MixThe Marketing Mix

ProductProduct DevelopmentDevelopmentProduct DesignProduct Design

1. 1. Form Form – – What the product looks likeWhat the product looks like

Eg. Honda Civic vs. Ford Windstar Eg. Honda Civic vs. Ford Windstar MinivanMinivan

2.2. Function – Function – What is the product What is the product designed to do?designed to do?

Eg. High top running shoes to Eg. High top running shoes to support your ankles while playing support your ankles while playing basketballbasketball

Product Product DevelopmentDevelopmentPackagingPackaging• Protects the product from the elements Protects the product from the elements

and damageand damage

• Provides easy use for the consumer Provides easy use for the consumer

• Labels provide essential informationLabels provide essential informationEg. Nutritional information, ingredients, Eg. Nutritional information, ingredients,

ProductProduct DevelopmentDevelopmentBrandingBranding

• The name, The name, design, or design, or symbol that symbol that identifies the identifies the good or service.good or service.

PricingPricing Strategies Strategies•What price are consumers willing What price are consumers willing

to pay?to pay?

•How will the price reflect the How will the price reflect the quality (value) of the product?quality (value) of the product?

•$199 vs. $200$199 vs. $200

Product Product PlacePlacementment

Channels of DistributionChannels of Distribution

• The paths of ownership that the goods The paths of ownership that the goods follow as they pass from the producer follow as they pass from the producer to the consumer.to the consumer.

• The product does not change as it The product does not change as it moves through the channelsmoves through the channels

• IntermediariesIntermediaries take possession of take possession of the goods before the final consumer the goods before the final consumer does and adds an additional cost to does and adds an additional cost to the product in order to make a profitthe product in order to make a profit

Product Product PlacePlacementmentDirect ChannelsDirect Channels

•The product is sold The product is sold directly to the directly to the consumer by the consumer by the producerproducer

Eg. Roadside Fruit Eg. Roadside Fruit StandStand

Product Product PlacePlacementment

Indirect ChannelsIndirect Channels•Products travel through one or Products travel through one or

more intermediary before more intermediary before reaching the final consumerreaching the final consumer

Eg. Retail StoreEg. Retail Store

Product Product PlacePlacementmentSpecialty ChannelsSpecialty Channels•Any direct or indirect Any direct or indirect

channel that does not channel that does not involve a retail storeinvolve a retail store

PromotingPromoting the the productproduct

AdvertisingAdvertising • The paid-for promotion of a business’s The paid-for promotion of a business’s

goods and services over a variety of goods and services over a variety of mass media to target a market of mass media to target a market of consumers.consumers.

• Ads Ads give the consumer information give the consumer information about the productabout the product

Eg. What, Where, Why, HowEg. What, Where, Why, How

• Ads vary depending on the stage in the Ads vary depending on the stage in the Product Life CycleProduct Life Cycle

PromotingPromoting the the productproduct

Sales promotionsSales promotions

• Used to encourage the consumer to Used to encourage the consumer to buy the product buy the product

Eg. coupons, contests, premiums, Eg. coupons, contests, premiums, samples, and special eventssamples, and special events