Text version for 'Marketing introduction'

When people consider the marketing mix, they consider issues related to product, price, promotion and place.

Issues related to Product include:

1. What product does the customer want?
   
2. Do we change an existing product or create a new one?
   
3. How will consumer use it?
   
4. What will it look like? Colour? Size?
   
5. What are the characteristics of our target market – will our product suit the market?
   
6. Is our product likely to be innovative e.g. have a unique selling point (USP)?

Issues related to Price include:

1. How much should we charge?
2. Should we consider competitors’ prices?
   
3. How much does one of our product cost to make?
   
4. What image do we want for our product: e.g. high price for exclusive products, low price for products representing good value?

Issues related to Promotion include:

1. What are the promotional objectives? i.e. sell more quantity, or make more profit.
   
2. What promotional strategies should we use? Shop displays, free samples, money-off vouchers, celebrity endorsement, sponsorship?
   
3. What should the advertising campaigns include? Television, magazine, newspapers, radio, online?

Issues related to Place include:

1. Where will target customers look for this product or service?
   
2. How can we get our product into the places customers look for it?
   
3. Which distribution channels should we use to sell it?

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