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Let’s understand basics
What is Marketing Mix ?Planned mix of elements used to
determine actionable marketing plan.
What’s its significance??
To cater demands of consumers.
To crate identity of brand.
To stay focused on core business.
To control inventory. [email protected]
Let’s see one by one Product Companies tend to develop products on following parameters.Needs and wants of customers.Quality.Value for money.Service
In addition to these nowadays new 3P’s have added.
People. Place.Physical Evidence.
Price
• As premium brand approach is on High price strategy
Premium
Pricing
• Offers small no. of product’s to target specific demographics customer’s
No. of product
s
Place
• Distributing through online stores, Social media efforts
Online stores
• They have direct retail stores and third-party stores in many countries e.g. Reliance digital
Retail and
third-party store • Apple has exclusive stores
catering different category of product e.g. Fifth avenue, New york
Exclusive stores
Promotion
• Increasing eagerness of customers
Halo Effect
• i-Pod to i-phoneHorizontal strategy
• i-watch, i-pay, i-cloud
Leveraging brand
name
