Influences on the marketing mix (Edexcel GCSE Business): Flashcards
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Practise the cards
13 cards from this deck
The 4 Ps of marketing mix
The 4 Ps of marketing mix
Product, Price, Promotion, Place
Integrated marketing mix meaning
Integrated marketing mix meaning
All 4 Ps work together supporting & enhancing each other
Rolex product element example
Rolex product element example
High-quality, prestigious timepieces with superior craftsmanship
Product adaptation to customer needs
Product adaptation to customer needs
Incorporating new trends and technology into features
Pricing strategy for changing needs
Pricing strategy for changing needs
Monitor competitors' pricing & adjust to remain competitive
Promotional campaign purpose
Promotional campaign purpose
Launch fresh advertising to generate renewed interest
Customer service enhancement example
Customer service enhancement example
Free returns for online purchases
Technology's impact on products
Technology's impact on products
Requires continuous innovation to meet consumer expectations
Technology's impact on pricing
Technology's impact on pricing
Internet makes price comparison easy, forcing competitiveness
Technology's impact on promotion
Technology's impact on promotion
Shift from traditional to digital communication channels
Technology's impact on place
Technology's impact on place
Online selling revolutionised distribution strategies
'Clicks' vs 'bricks and mortar'
'Clicks' vs 'bricks and mortar'
Balance between online convenience & physical store experience
Effect of right distribution channels
Effect of right distribution channels
Increased accessibility → greater awareness → higher sales