Marketing Mix

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Marketing Mix:

Marketing Mix MKT-PSP-2 Students will discuss the role of the promotional mix in a competitive economic environment. MKT-EM-5 Students will analyze the role of e -marketing in the marketing mix.

Marketing Mix – 5 P’s:

Marketing Mix – 5 P’s

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A tangible good or an intangible service that is produced or manufactured Intangible products are service based like the tourism industry with guided tours or code-based products like monthly cell phone minutes Products & Services can be online or offline

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The science, art and technology of enclosing or protecting products for distribution, storage, sale, and use. Packaging also refers to the process of design, evaluation, and production of packages . For e -Marketing, package can also include the website and shopping experience, depending on the e -Business

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The amount a customer pays for the product Determined by a number of factors: market share competition material costs product identity customer's perceived value of the product Think about how price comparisons are different when shopping in stores vs. shopping online

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The location where a product can be purchased Also called the distribution channel Any physical “brick and mortar” store as well as virtual stores on the Internet

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Represents all of the communications that a marketer may use in the marketplace Promotion has four distinct elements advertising (paid) public relations (news) personal selling (in-person) sales promotion (coupons, offers, etc.) Promotion includes MANY forms of media, including traditional options such as TV, as well as newer social and online media like Facebook and email

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By offering the product with the right combination of the five P’s, marketers can improve their results and marketing effectiveness.

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