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    The Marketing Matrix

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    glaydel dubria
    The marketing mix refers to the set of marketing tools - product, price, place, and promotion - that a company uses to pursue its marketing objectives in a target market. The marketing mix variables are controllable and must be properly blended to influence customer purchasing decisions. Market research, including primary and secondary sources, is important for understanding customer needs and designing an effective marketing mix.

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    The Marketing Matrix

    Uploaded by

    glaydel dubria
    20 views12 pages
    The marketing mix refers to the set of marketing tools - product, price, place, and promotion - that a company uses to pursue its marketing objectives in a target market. The marketing mix variables are controllable and must be properly blended to influence customer purchasing decisions. Market research, including primary and secondary sources, is important for understanding customer needs and designing an effective marketing mix.

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    THE MARKETING MATRIX

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    The marketing mix refers to the set of marketing tools - product, price, place, and promotion - that a company uses to pursue its marketing objectives in a target market. The marketing mix variables are controllable and must be properly blended to influence customer purchasing decisions. Market research, including primary and secondary sources, is important for understanding customer needs and designing an effective marketing mix.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    20 views12 pages

    The Marketing Matrix

    Uploaded by

    glaydel dubria
    The marketing mix refers to the set of marketing tools - product, price, place, and promotion - that a company uses to pursue its marketing objectives in a target market. The marketing mix variables are controllable and must be properly blended to influence customer purchasing decisions. Market research, including primary and secondary sources, is important for understanding customer needs and designing an effective marketing mix.

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    THE MARKETING MIX

    DISCUSSANT: GLAYDEL M. DUBRIA


    MAED-TVLED 2A
    The Marketing Mix

    The purpose of target marketing is to develop a


    marketing mix that is appropriate for the company.
    Marketing mix refers to the set of marketing tools that the
    firm uses to pursue its marketing objectives in the target
    market.

    The marketing tools are the controllable variables that when


    properly blended constitute the marketing mix.
    The controllable variables are the following:

    1.product offering (including the breadth of the product


    line, quality levels, and customer services)
    2.price
    3.promotion (advertising, sales promotion and
    salesforce decision)
    4.place ( or distribution)
    The marketing mix is intended to assist or influence
    the customer in his purchasing decision. Each of the
    four variables, separately or jointly, attract the buyer.
    The job of the small business operator is to provide a
    blending of the variables that will lead to the customer
    to make a purchasing decision favorable to the
    company. The blending could be that one of the
    variables will be used as the main competitive tool and
    the other variables will be used to support the main
    variable.
    Product
    -The tangible commodity or the intangible services that
    the small business firm offers for sale to prospective customers
    is referred to as product. It includes the warranties and other
    conditions attached to the product.

    • Product design
    • Quality
    • Branding and packaging
    • Product differentiation
    • New product development
    Price
    The amount of money paid by the customer to the small
    business firm so the customer can use the product is called price.
    The transaction could mean either as an absolute transfer of
    ownership or a rent or lease arrangement. The price is set to attract
    prospective customers to buy. Considerations regarding retail and
    wholesale prices, discount and allowances, and credit terms must be
    taken care of.

    • Pricing strategies
    • Pricing models
    • Discounts and promotions
    • Psychological pricing
    Place
    -involves decisions about how and where the product will be
    made available to customers.

    • Channel selection
    • Retail locations
    • Online presence
    • Global distributions
    Promotion
    The provision of required information to prospective
    customers so that they are persuaded to buy is called promotion.

    • Advertising
    • Sales promotion
    • Public relations
    • Content marketing
    • Social media marketing
    Elements of Promotion

    Personal selling involves the use of the services of salesmen to influence the
    prospective buyer’s purchasing decision. This approach requires face-to-face
    contact between the firm’s salesman and the prospective customer.

    Mass selling involves the simultaneous persuading of large numbers of


    prospects to buy the firms product. In contrast with personal selling, the firm’s
    products are presented on a non-personal basis. When mass selling is in paid
    form, it is called advertising; when in unpaid form, it is called publicity.

    Sales promotion refers to promotion activities other than personal selling,


    advertising, and publicity. It is a short-term inducement of value offered to
    prospective customers to arouse interest in buying a good or service. Coupons,
    raffle stubs, and free samples are some of the ways used in sales promotion.
    The Importance of Market Research

    Knowing the needs of the target customers will be very


    helpful in designing the right marketing mix. To describe
    the customer, market research is the right tool to use.

    Two (2) Basic Types of Market Research


    1. primary research
    2. secondary research
    Primary Research
    -involves the collection of original data directly from individuals or
    sources for a specific research project.

    Sources of Primary Research:


    1. Surveys
    2. Interviews
    3. Focus groups
    4. Observations
    5. Experiments
    6. Questionnaires
    7. Case studies
    Secondary Research
    -involves the use of existing data and sources to gather information.
    -secondary research is cost-effective and provides a broader
    understanding of a topic but may not be as specific or tailored as
    primary research.

    Sources of Secondary Research:


    1. Published Reports
    2. Government publications
    3. Company websites
    4. News media
    5. Books
    6. Online databases

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