What is Marketing Mix?

By -

Marketing Mix & 4 Ps of Marketing

The set of controllable tactical marketing tools, product, price place, and promotion that the firm blends to produce the response it wants in the target market

Product

Variety
Quality
Design
Features
Brand name
Packaging
Services
Price
List price
Discounts
Allowances
Payment period
Credit terms


Marketing Mix
Promotion
Advertising
Personal selling
Sales promotion
Public relations
Place
Channels
Coverage
Assortments
Locations
Inventory
Transportation
Logistics

Product

Product means the goods and services combination the company offers to the target market and its essentially tangible and has a value and that might satisfied the needs and wants.

Price

Price is the amount of money that the firm charge in exchange of product from customers.

Place

Place includes company activities that make the product available to target consumers.

Promotion

Promotion means activities that communicate the merits of the product and persuade target customers to buy

Popular posts from this blog

Model of Consumer Behavior

By -
Model of Consumer Behavior Consumers make many buying decisions every day. Most large companies research consumer buying decisions in great detail to answer questions about what consumers buy, where the buy, how and how much they buy, when they buy, and why they buy. Marketers can study actual consumer purchases to find out what they buy, where, and how much. But learning about the whys of consumer buying behavior is not so easy- the answers are often locked deep within the consumer’s mind. “For companies with billions of dollars on the line, the buying decision is the most crucial part of their enterprise,” states one consumer behavior analyst. “yet no one really knows how the human brain makes that choice.” Often, consumers themselves don’t know exactly what influences their purchases. “Buying decisions are made at an unconscious level.” Says the analyst, “and … consumers don’t generally give very reliable answers if you simply ask them, ‘Why did you buy this?”
Read more

BUSINESS USE OF THE INTERNET

By -
BUSINESS USE OF THE INTERNET This should give you a good idea of how versatile the internet is as an information technology platform on which to base a variety of business strategies. You could group the ways that companies are using the internet for business into a few major application categories. 1. Interactive marketing Because of the internet, marketing a company and its products and services has become an interactive process. The internet and the web enable companies to create a dialog with customers through online discussion groups, bulletin board, electronic questionnaires, and mailing lists and E-mail exchanges. Thus customers can be interactively involved in the development marketing, sales and support of products and services, along with a company’s market researchers, product designers, marketing and sales staff, and support specialists. 2. E-Commerce The internet, the World Wide Web, and internet-based technologies such
Read more

what is Islamic Tijarah? Its Importance, Appreciation, and Exhortation to business.

By -
Image
Islamic Tijarah “Transaction of goods and services according to the Shariah” A good, successful and flourishing business depends very much on the sincere efforts and persistent hard work of the businessman. Therefore, any discussion of the Quranic attitude to Tijarah (business) ought to be preceded by explication of its attitude to Amal in general. Business is also a necessary and beneficial activity; therefore, its importance in the eyes of the Quran is understandable. Our aim is to explore what the Quran has to say about business activity in particular. Importance of Tijarah The importance of business is evident not only from the express statements but also from the attitude and the special consideration accorded to it by the Quran as we shall see below. 1. Frequent Use of Business Terminology The Quran has made and extensive use of business terminology. Commercial terms, belonging to twenty different stems, occur in the Quran about 370 times. C.C. Torrey
Read more