Marketing Mix including Industrial and Consumer Markets

The marketing mix is a marketing tool. It is a checklist, which focuses attention on the main marketing activities in which a firm needs to carry out its marketing strategy. It consists of the four Ps (product, price, promotion and place). Product (including range of pack sizes, flavours and colours) Price (pricing strategy and pricing method) Promotion (branding, advertising, packaging and sales promotion) Place (distribution channels and seeking shop distribution) Managers look at these areas …

…amp;lt;Tab/>The type of consumer - which are categorised into several ways; spending power, age and gender. There are differences in customers and buying habits within each market, which are known as market segments. Each segment requires its own marketing mix. A product can be a good (shampoo), service (hairdressing), place (tourist destination) or person (pop star). A product does something for the customer. Products provide both tangible and intangible benefits.