marketing mix.pdf

5 Selling more

Further interactive vocabulary practice on the DVD-ROM

5.2 Vocabulary

5.2 Vocabulary The marketing mix

6 Complete the marketing collocations in sentences 1–10 with words from the box.

Search for the keywords

“ Maslow’s marketing

ﬁ lter” . Apply this

technique to the ideas

you developed in 8.

bring declining enter flood leader niche research segmentation share study

Discussion

1 Explain what you think is meant by these quotations. Do you agree with them?

‘Marketing is what you do when your product is no good’ – Edwin Land, Inventor of Polaroid

photography

‘Business has only two functions – marketing and innovation’ – Milan Kundera, Czech writer

‘No great marketing decisions have ever been made on quantitative data’ – John Sculley,

former President of PepsiCo and CEO of Apple

1 The same product may interest teenagers in Europe and professionals in Africa: determining

market is about adapting the marketing mix to these different customer sub-groups.

2 Most companies are reluctant to invest in promoting a product if it faces a market.

3 A custom-made product can be profitable if the company identifies and develops a small

market segment or market effectively.

4 Companies often try to capture market by cutting prices or offering special deals.

5 Market is needed in order to estimate the cost of doing business in a particular area.

6 The purpose of conducting a market

is to obtain information about customers’ needs

2 Read the short text below and find the answers to these questions.

1 What are the four Ps?

3 What is mix coherency?

and how well they are met.

7 The company with the biggest sales in the sector is known as the market .

8 Manufacturers sometimes the market with cheap products to ‘buy’ new customers.

9 Every great idea needs a manufacturer who is willing to invest in order to

2 What are the four Cs?

4 What are mix dynamics?

it to market.

10 The quickest way for large retail chains to grow is to

new foreign markets.

toolbox

history

Discussion

7 The following sales promotion techniques are often used to stimulate sales. Give examples of

these techniques that you know. Use the list of products to help you.

1 BOGOF: buy one get one free

2 loss leaders: products sold at a low price to encourage sales of another product

3 tying: making sales of one product depend on the customer buying another

4 cashback: money returned after the customer has paid for something

5 bundling: selling several products together as one combined product

The marketing mix

The most common variables used in constructing a marketing mix are Price, Promotion,

Product, and Placement. These are sometimes referred to as the four Ps. Each of these

ideas can also be seen from a consumer’s perspective. So, Product converts into Customer

Solution, Price into Cost, Place into Convenience, and Promotion into Communication. These

are the four Cs.

The concept of mix coherency refers to how well the components of the mix are blended

together. For example, a strategy of selling expensive luxury products in discount stores has

poor mix coherency between Product and Placement. Mix dynamics refers to how the mix

is adapted to a changing business environment, to changes in the organization’s resources,

and to changes in the product life cycle.

holidays music printer cartridges soft drinks software

8 Discuss solutions to these case studies. Explain how you would improve the marketing mix,

what techniques you would use, and what sales promotion techniques would help.

Discussion

3 Decide how successful the mix coherency and mix dynamics are in these examples. Use

the four Ps or the four Cs to explain your answers.

1 An up market women’s hairdressing franchise is opening salons in underground railway

stations.

2 Accessories and spare parts for a popular portable cassette player are now only available

by mail-order or Internet.

3 A distributor of T-shirts decorated with ecological symbols and slogans is advertising in

women’s fashion magazines.

4 An executive training company is promoting courses in business letter-writing on TV.

5 A video games company distributes discount coupons at football matches.

Old Orchard

Old Orchard is a high quality apple juice made using

organic fruit and traditional methods. It is sold at a

premium price in restaurants and tea shops. Market share

and profit margins are declining. How can Old Orchard

update its image and diversify into new markets?

Crunchy Morning

Listening

4 The marketing techniques below are part of the Promotion strand of the marketing mix.

Match the marketing techniques 1–6 with their descriptions a–f.

1 undercover

a) using electronic media like email or SMS to promote products

Crunchy Morning make an exciting new range of

breakfast cereals with unusual flavours, eg mint,

grapefruit, strawberry and marmalade. How can Crunchy

Morning capture market share on a saturated market?

marketing

b) promoting products to target customers, for example,

2 e-marketing

through addressed mail

3 direct marketing

c) persuading people to buy a product or service by

4 product placement

announcing it on TV, radio, or in other media

5 viral marketing

d) marketing that spreads from consumer to consumer,

That Touch Cosmetics

6 advertising

often online

e) marketing in which customers do not realize they are being

That Touch Cosmetics are well-known in Western Europe

for their sensibly-priced skin care and beauty products for

women. New management have ambitious objectives for

growth. How can That Touch grow in what seems to be a

mature market?

marketed to

f) putting products or references to products in media like

films or video games

5 2:02 Listen to six examples of marketing techniques. Match them with the categories

1–6 in 4.

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