Transcript Marketing Mix and Product Life Cycle

The Marketing Mix
• Most famous phrase in marketing
• Also known as the __________
• The marketing mix elements are _____
_____, _______, and ________.
The Marketing Mix - Price
• There are many _______________ to price a
product.
The Marketing Mix - Price
_____________
• Use a ____ price where there is a
___________ about the product or
service.
• This approach is used where a
substantial ___________________
exists.
The Marketing Mix - Price
____________ Pricing
• The price charged for products and services is
set artificially _____ _________________.
Once this is achieved, the price is increased.
The Marketing Mix - Price
____________ Pricing
• This is a ___________ _____ price. The cost
of marketing and manufacture are kept at a
minimum.
The Marketing Mix - Price
Price _____________
• Charge a ________ because you have a
substantial competitive advantage. However,
the advantage is not ____________.
• The high price tends to attract new
____________ into the market, and the price
inevitably _______ due to _________ supply.
The Marketing Mix - Place
• Place is also known as _____________
________________________.
• It is the mechanism through which
goods and/or services are ______ from
the ___________________________ to
the _______________.
The Marketing Mix - Place
There are a few basic 'channel’ decisions:
1. Do we use ______ or _______ channels?
(e.g. 'direct' to a _________, 'indirect' via
a _____________).
2. Single or multiple channels.
3. Types of intermediary
•
___________
•
___________
•
___________
The Marketing Mix - Product
Introduction
• The product is
promoted to create
_____________.
• If the product has no
or few competitors, a
_____________ price
strategy is employed.
The Marketing Mix - Product
Growth
• ________________ are
attracted into the
market with very similar
offerings.
• Products become more
profitable and
companies form ______
___________________
___________________.
The Marketing Mix - Product
Maturity
• Those products that
survive the earlier
stages tend to _______
__________________.
• Sales grow at a
____________ rate and
then __________.
• Producers attempt to
____________ products
and brands are key to
this.
• Price wars and intense
competition occur.
The Marketing Mix - Product
Decline
• At this point there is a
________ in the market.
• For example more
__________ products are
__________ or consumer
tastes have changed.
• There is intense _______
_______ and many more
products are withdrawn
from the market..
The Marketing Mix - Promotion
• Promotion represents the various aspects of
___________________, that is, the communication
of information about the product with the goal
__________________________________.
The Marketing Mix
Put the following products on
the Product Life Cycle (PLC).
• Smart cars in
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Europe
Smart cars in
Canada
Smart Cars in USA
Cell phones
Cigarettes in
North America
Cigarettes in the
developing world
Kit-Kat and Aero
chocolate bars
PC greenest
shopping bag
Put the following products on the Product
Life Cycle (PLC).
• MS-DOS.
• Internet
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Telephones (WAP
or 3G).
Palmtop
computers.
Play Station 2.
Sega Megadrive.
Fax machines.