MARKETING MIX The marketing mix is a business tool used in marketing and by marketing professionals. The marketing mix is often crucial when determining a product or brand's offering, and is often synonymous with the four Ps: price, product, promotion, and place; in service marketing, however, the four Ps have been expanded to the Seven Ps or eight Ps to address the different nature of services. In recent times, the concept of four Cs has been introduced as a more customer-driven replacement of four
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PRODUCT LIFE CYCLE SUBMITTED BY MASHHOODA MOHAMMED SHOEB KHAN BACHELOR OF BUSINESS ADMINISTRATION IN GENERAL FIRST YEAR - FIRST SEMESTER FACULTY GUIDE-MRS PRIYANKA CHANDANANI ASSISTANCE PROFESSOR – ECONOMIC ACKNOWLEDGEMENT I would like to express my special thanks of gratitude to my faculty guide Mrs Priyanka
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ng S.No | TERMS | DEFINITIONS | 1 | Lead generation | The process of finding people (consumer or business) with a qualified interest in a certain product or service. | 2 | Lapsed Customer Rejuvenation | The process of re-contacting 'former' customers and following up on 'lost orders/old quotations' with the objective of generating new leads. | 3 | Market segmentation | Process of dividing the market into smaller groups that share one or more characteristics. | 4 | Marketing mix | Usually
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CHAPTER 1 THE PROBLEM AND ITS BACKGROUND 1.1 Introduction The basic problem of an economic society is to allocate resources among the members of the society so as to maximize the welfare of the society as a whole. To achieve this welfare objective, each resource should be used to perform the functions by which it contributes most efficiently to society. In a market economy, the price system allocates these resources. That is, prices furnish the guideposts that indicate how resources should be used
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Milo is a very popular drinks, it also produces from Nestle Company. 2.1 Macro Environmental Analysis Macroenvironment consists of nonspecific aspects in the organization's surroundings that have the potential to affect the organization's strategies. For macro environment, the factors will affect our new product are natural forces and technological factors. Natural forces are the raw materials from natural resources or non-renewable resources which impact on the organisation’s production (Oxford
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Consumers expect merchants to not only make their products available on the Web, but to make payments a simple and secure process. Our expected market share will grow most rapidly in the first 5 years then stabilize after 8 to 10 years. Our promotion strategy includes: direct mail, magazine advertisements, website advertisements, newspaper. Quality is our primary concern so we will be implementing quality control systems including: meeting regulatory standards Business Description Company Overview
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------------------------------------------------- Tutorial 1 * Overview Run through Unit Plan and Assignment question. * Introduction * Definition of Marketing * Importance of knowing the difference between objective, strategy and tool * Importance of Target Market process. * Importance of knowing Positioning. * The evolvement of Marketing Mix from 4Ps to 9Ps but syllabus covers the fundamental which is 4Ps. * Expectations * Tutor’s expectations
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place, and promotion Price, presence, place, and product Price, promotion, place, and product Promotion, price, place, and production Question 7. 7. (TCO 4) Which one below is NOT a pricing strategy discussed in our course? (Points : 5) Price skimming Promotional pricing Penetration price Prestige pricing Question 8. 8. (TCO 4) Peter Drucker stated that
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be precise, it describes the stages a product goes through from its introduction, through its growth until it is mature and then finally its decline. Moreover, it’s associated with changes in the marketing situation, thus impacting the marketing strategy & the marketing mix as well. Knowledge of the product’s life cycle can provide valuable insights into ways the product can be managed to enhance sales and profitability. Marketing activities are heavily dependent on the stage in the product life
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Define Marketing Mix. Marketing is a process that depends on customer needs and demands. Marketing concept proposes that an organization requires focusing on customer needs and wants, coordinating its efforts and endeavoring to accomplish organizational goals. Marketing can be best defined as: “A process of identifying, satisfying and retaining customer’s profitability”. The American Marketing Association defines market as: “Marketing is an organizational function and set of processes
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