Marketing Mix for Business
- Submitted by: tilliehayess
- Views: 290
- Category: Politics: Economics
- Date Submitted: 01/12/2015 09:07 AM
- Pages: 9
- Report this Essay
The marketing mix
The marketing mix is a combination of product, place, price and promotion designed to meet the customer’s needs. All 4 P’s support each other so it is important they are high level to appeal to your target market. The product is what you offer the customer and any features it has. Price is value of product you offer. Place is where the business is situated and if the location suits your target market’s needs. Promotion is how you market your business and encourage customers to buy your product.
As my business progresses through the product life cycle the marketing mix will change, however it is still tailored to the target market. My marketing mix should try to be equal or better than my competitors in order to attract my target market.
All aspects are linked as shown in the diagram below:
Product
My business doesn’t not offer a service, it offers a product instead. The main product that is offered is tea, but I will also be serving various types of sandwiches and salads as well as coffee and fizzy drinks. In the future I would like to expand my business to other towns and cities, but only if my business in Frome is a success. By spreading my business through-out Somerset I can make my target market wider.
My products will be different from other rivals as I will offer the best price for all my products and make them affordable for all ages. Also I will make sure that my products have the lowest price but not too low that I loose profit. My products will also differ from rivals because I will make sure my products are suited to peoples needs, such as vegetarians, vegans people who are lactose intolerant etc. I think this will appeal to customers because my products can be for everyone and hopefully by having a diverse range of food and drinks it will bring in more customers. A few of my competitors have a website, I hopefully will also create a website for my tea café so if people from the out of Frome area want to come, they can find...
The marketing mix is a combination of product, place, price and promotion designed to meet the customer’s needs. All 4 P’s support each other so it is important they are high level to appeal to your target market. The product is what you offer the customer and any features it has. Price is value of product you offer. Place is where the business is situated and if the location suits your target market’s needs. Promotion is how you market your business and encourage customers to buy your product.
As my business progresses through the product life cycle the marketing mix will change, however it is still tailored to the target market. My marketing mix should try to be equal or better than my competitors in order to attract my target market.
All aspects are linked as shown in the diagram below:
Product
My business doesn’t not offer a service, it offers a product instead. The main product that is offered is tea, but I will also be serving various types of sandwiches and salads as well as coffee and fizzy drinks. In the future I would like to expand my business to other towns and cities, but only if my business in Frome is a success. By spreading my business through-out Somerset I can make my target market wider.
My products will be different from other rivals as I will offer the best price for all my products and make them affordable for all ages. Also I will make sure that my products have the lowest price but not too low that I loose profit. My products will also differ from rivals because I will make sure my products are suited to peoples needs, such as vegetarians, vegans people who are lactose intolerant etc. I think this will appeal to customers because my products can be for everyone and hopefully by having a diverse range of food and drinks it will bring in more customers. A few of my competitors have a website, I hopefully will also create a website for my tea café so if people from the out of Frome area want to come, they can find...