Welcome to today’s class!!
We are thrilled to have you in our class!!
In today’s Marketing class, we will be learning about Marketing Mix II
Marketing Mix II
Remember in our last class, we talked about marketing mix I. One thing you were asked to do, was try to worry not about the grammars but focus on this: Four Ps. As long as you can remember the letter P and the number 4, you are good to go!
Now, let’s define marketing mix using the marketing grammar.
Marketing Mix often refers to a common classification that began as the four Ps: product, price, placement, and promotion.
It often refers to a common classification that began as the four Ps: product, price, placement, and promotion.
Since we already looked at the first two Ps, let’s look at placement and promotion.
When determining areas of distribution, it’s important to consider the type of product sold. Basic consumer products, such as soft drinks, often are readily available in many shops. Premium consumer products, however, typically are available only in select stores, such as body cosmetics.
In promotion, Joint marketing campaigns are called a promotional mix. Activities might include advertising, sales promotion, personal selling, and public relations. An important consideration is the budget assigned to the marketing mix.
Organizations carefully construct a message that often consists of details from the other three Ps when trying to reach their target audience.
Determination of the best mediums to communicate the message and decisions about the frequency of the communication also are important
In summary, while Promotion involves activities like advertising, sales promotion, personal selling, and public relations, Placement deals with areas of distribution, and consideration of the type of product sold.
What role do Placement and Promotion perform in the marketing mix?
List the activities involved in promotion.
Explain the difference between Placement and Promotion.
We hope you enjoyed today’s class. In our next class, we will be learning about Distribution I.
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