1.4.3 the marketing mix - amazon s3
TRANSCRIPT
![Page 1: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/1.jpg)
PowerPointGuide
Thenewsiconishyperlinkedtoarelatedarticleorwebsite
Simplyclicktoaccess
ThefilmiconishyperlinkedtoarelatedclipSimplyclickto
access
Thediscussicon indicatessuggestedpointstodiscuss
Thewritingicon indicateswrittenactivityorquestion
time.
![Page 2: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/2.jpg)
Makingthebusinesseffective
Theme1:Section1.4.3Themarketingmix
![Page 3: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/3.jpg)
Keyelementstothistopic
Workingwiththemarketingmix
Theelementsofthemarketingmix
![Page 4: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/4.jpg)
Whatisthemarketingmix?
Howabusinesscombinesitsproductanditsprice,
andusespromotionandtheplaceofsaleinordertobe
successful
![Page 5: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/5.jpg)
Differentaspectsofusingthemarketingmix
ElementsofthemarketingMix
Balancingthemarketingmix
Impactsofchangingcustomerneeds
Impactsoftechnologyonthemarketingmix
![Page 6: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/6.jpg)
MarketingMix– theelements
InorderInordertosuccessfullyselltheproducttothecustomerabusinesswillneedtousemarketing.Theelementsthatmakeupthismarketingmixareoftenknownasthe4Psandaresummarisedinthetablebelow:
Marketingelement DescriptionProduct ThegoodorservicethatthecustomerobtainsPrice Howmuchthecustomerispayingforthe
productPromotion Howthecustomerisfoundandpersuadedto
buytheproductPlace Howtheproductisdistributedtothecustomer
![Page 7: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/7.jpg)
LinkingtheElements
Eachoftheelements(4Ps)ofthemarketingmixwillaffecttheotherelementssotheyneedtobecombinedliketheingredientsinacake.Someexamplesaregivenbelow:
Inmostcasesthefailuretoaddressanyoneoftheelementswillleadtothefailureoftheproduct.
• Highqualitymaterialsusedinaproduct canmeanthatahigherprice isobtainable
• Aneworimprovedproductneedspromotionifpotentialcustomersaretobeawareofit
![Page 8: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/8.jpg)
Marketingemphasis
Whichofthe4Psisthemostimportantwillvarydependingwhatproductorserviceisbeingprovided.
Discusswhichoneoftheelementsofthemarketingmixisthemost importantforeachoftheboxesinthetable
![Page 9: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/9.jpg)
Marketingemphasis(continued)
Youmayhavecomeupwithanswerssimilartothefollowing:
Youmayhoweverhavedifferentanswersdependingonwhetheryouweretakingalongtermorshorttermview.Themarketsituationforeachindustrywillalsoaffecttheirmarketingpriorities.
![Page 10: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/10.jpg)
Justaminute
Youhave60secondstonotedownhowyourmarketingwouldbeaffectedifyouwererunninga
businesswherethereisnocomptition
![Page 11: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/11.jpg)
Nocompetition
Anybusinesswillbetryingtoreachasituationwhereithasnocompetition.Thiscanbeachievedindifferentways.Theymaybetheonlybusinessinasmallareaortheymaybetheonlybusinessthatisallowedtoproduceaproductorservicebecausetheyhaveapatentorcopyright.Therearebenefitsanddrawbacksofthissituationandaffectsontheirmarketingpolicy:
Marketing Element Effectofnocompetition
Product
PricePromotion
Place
AssaleswillbegoodthereislittleincentivetodevelopneworimprovedproductsandqualitymayalsosufferThis canbequitehighandprofitsshouldbegoodOncecustomersareawareofthebusinessthentheremaybelittleneedtospendonpromotionThismightbefixedthroughthelocation ofthebusinessbutaccesstotheproductorservicemaybemoretosuittheconvenienceoftheproducerthanthecustomer
![Page 12: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/12.jpg)
Competition
Ifabusinessissuccessfulitwillmakeaprofit.Ifitmakesalotofprofitthenotherbusinesswillwantashareandwilllooktoenterthemarket,evenifitisquitelocal.Insomecasesthesemaybeothersmallbusinessesbutoftentheymaybelargenationalandmulti-nationalfirmswithconsiderableresources.
Marketing Element EffectofcompetitionProduct
Price
Promotion
Place
TherewillneedtobeconstantdevelopmentoftheexistingproductsanddevelopmentofnewQualityandconsumerservicewillbeveryimportantandbeingdifferentisessential.Reductionofpricetoremaincompetitiveagainstrivalbusinesses.Mayresultinpricewar.Profitsmaydecrease.Increaseinpromotionandadvertisingtokeepexistingcustomersandattractnewones.Greaterfocusonthecustomer’srequirementswhichmightincreasedistribution oropeningcosts.
![Page 13: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/13.jpg)
GrowthoftheCaféCulture
TheinteractivemapintheTelegrapharticleshowsthegrowthofthecoffeeshopmarketfrom2010to2015.
AsanationBritonsspent£7.9bn incoffeeshopsthisyear.
BrandssuchasCosta,StarbucksandCaféNerodominatethemarket.
Withincreaseincompetitionfromestablishedlargechains,independentshopsarehavingtobemorecreativewiththeirmarketingtopenetratethemarket
![Page 14: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/14.jpg)
BetheBusinessAdvisor
Youareapproachedbyasmall,independentcoffeeshopwhoarekeentosetupinyourlocalarea.TheywouldlikeyouradviceonhowtheycouldsuccessfullycompeteagainstthelikesofCostaandStarbuck.
Usethe4’psofthemarketingmixtostructureaplan,giveexamplesofwhat
theyshoulddoandoutlinewhichelementofthemarketingmixyouconsiderwillbe
themostimportanttothem
![Page 15: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/15.jpg)
ConsumerTrends
Recentconsumertrendsinclude:• Increaseinonlineshopping• Useofsmartphonesandapps• Morehealthconsciousconsumers• Increaseduseofpricecomparisonsites
andproductreviews• Wideninguseofsocialmedia• Creditspendingincreasing• Brexitinfluencingpurchasingdecisions
Thesetrendswillaffectallelementsofthemarketingmix,whatproductsareproduced(moretechnology),price(morecompetitive),promotion(socialmedia)andplace(e-commerce)
Marketingwillchangeastheneedsoftheconsumerchange.Notonlywilltheproductsandservicesthattheydemandchangebutsowillthewaytheyfindoutaboutandmaketheirpurchases
![Page 16: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/16.jpg)
DigitalTechnologyande-commerce
• Digitaltechnology iswherebusinessesusecomputerbasedtools,systems,devicesandresourcestogenerate,storeorprocessdata. Ithasmanyaspectsincludingsocialmedia,onlinemultimedia,productivityapplications, cloudcomputing,e-commerceandcommunication.
• E-commerce isthebuyingandsellingofgoodsandservicesusingtheinternet.Themorerecentdevelopmentism-commerce, whichisusingwirelesshandheld(mobile)devices,suchassmartphones.
![Page 17: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/17.jpg)
Justaminute
Youhave60secondstonotedowndifferentusesofdigitaltechnology
foreachoneofthe“4Ps”
![Page 18: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/18.jpg)
Digitalmarketing
• Product– digitaltechnologyhasledtoawholerangeofproductssuchassmartphones,tablets,andsmartTVs.Ithasincreasedproductqualityandallowednewcustomerexperiencese.g.3Dfilmsandvirtualreality
• Price– technologyhasdecreasedpricesthroughreducedcostsofproduction.Ithasalsoincreasedcompetitionthroughe-commerceandinternationalcompetition.Thiscompetitionhasbeenincreasedthroughpricecomparisonsites.
Allelementsofthemarketingmixhavebeenaffectedbydigitaltechnology.Someexamplesaregivenbelow:
Takingadvantageofthebenefitsofdigitaltechnologybasedpromotionsareallpossibleforasmallbusinessesbutallhavecosts,initialandongoingintermsofkeepingthetechnologyrequirementsuptodate.
![Page 19: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/19.jpg)
• Promotion– advertisingnowmakesmuchuseofwebsites,socialmediaandincreasinglyispersonalisedattheindividualuser.Customerdatabasesallowtargetedpromotionsandcanbelinkedtopurchasesmade.
• Place– e-commerceallowscustomerstoaccessmanyproductsfromanywhereintheworld.Shoppingonlineisa24/7experience.Thishasledtodeclinesinphysicalretailoutletsformanyproductsandservices.
Digitalmarketing
![Page 20: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/20.jpg)
Contextcorner
Explainthemarketingbenefitsofdigitaltechnologytoeachoneofthebusinessespicturedabove
Hiut Denim posted a limited run of fashion jeans on Instagram and sold out within 24 hours
ShadowRobotisanartificialhandthatthinksforitselfwithover20
movements
![Page 21: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/21.jpg)
K N WO L E D G E
C H E C K
![Page 22: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/22.jpg)
Questions
1. Listthe4Psofthemarketingmix2. Stateoneeffectonpriceifthereisno
competitionforabusiness3. Stateonewayabusinesscouldusedigital
technologytopromotesitsbusiness4. Stateonebenefittoabusinessofusinge-
commerce
![Page 23: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/23.jpg)
Suggestedanswers
1.Listthe4PsofthemarketingmixProduct,price,place,promotion2.StateoneeffectonpriceifthereisnocompetitionforabusinessPriceislikelytobehigher3.Stateonewayabusinesscouldusedigitaltechnologytopromotesitsbusinesse.g.Useofwebsite,socialmedia,customerdatabases4.Stateonebenefittoabusinessofusinge-commercee.g.Customersfromanywhereinworld,accessible24/7,noneedforretailoutletssocostsdecrease
![Page 24: 1.4.3 The marketing mix - Amazon S3](https://reader030.vdocuments.mx/reader030/viewer/2022012719/61b184208059e9147b4f9147/html5/thumbnails/24.jpg)