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PPT : The Marketing Mix

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The Marketing Mix
* The tools available to a business to gain the reaction it is seeking from its target market in relation to its marketing objectives
* 7Ps – Price, Product, Promotion, Place, People, Process, Physical Environment
* Traditional 4Ps extended to encompass growth of service industry

Product
* Methods used to improve/differentiate the product and increase sales or target sales more effectively to gaina competitive advantage e.g.
o Extension strategies
o Specialised versions
o New editions
o Improvements – real or otherwise!
o Changed packaging
o Technology, etc.

Place
* The means by which products and services get from producer
to consumer and where they can be accessed by the consumer
o The more places to buy the product and the easier it is made to buy it, the better for the business (and the consumer?)

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