Transcript Sources
"The purpose of marketing is to deliver results," says Arlene Dickinson Introducing The Marketing Mix The major marketing management decision can be classified into these four categories Product Price Place (distribution) Promotion The Marketing Mix and your Target Market A Business attempts to generate a positive response in the target market by blending these four marketing mix variables in an optimal manner Product Price Target Market Promotion Target Market Product … •The product is the physical product or service offered to the consumer. In the case of physical products, it also refers to any services that are part of the offering •Product decisions include aspects such as: • Function • Appearance • Packaging • Service • Warranty Price … •Pricing decisions should take into account: • Profit Margins • Probable pricing response of competitors •Pricing Includes not only list price but: • Discounts • Financing • Leasing Place … •Place or placement decisions are those associated with channels of distribution that serve as the means for getting the product to customers •Distribution includes: • Market coverage • Channel member selection • Logistics • Levels of service Promotion… •Promotion decisions are those related to communicating and selling to potential customers. •Promotional decisions involve: • Advertising • Public relations • Media types Marketing Expert –Arlene Dickinson •Arlene Dickinson is one of Canada’s most renowned independent marketing communications entrepreneurs. •As CEO of Venture Communications, her creative and strategic approach has turned the company into a powerhouse with a blue chip client list. •Videos on Arlene’s success story • http://www.youtube.com/wat ch?v=r6x4vc4Wsw4 • http://www.youtube.com/wat ch?v=wMAQ27xJVLM Sources Information on the 4Ps : Quick MBA – www.quickmba.com Information on Arlene Dickinson: Arlene Dickinson’s website http://arlenedickinson.com/bio/ Images – Google Images