MGMT 105 Lecture Notes - Lecture 3: Price Discrimination, Marketing Mix
Document Summary
Markeing mix: product, place, promoion and price various elements included in each of the 4ps; various strategic decisions that may be considered for each of these 4ps. Developing the right good or service for the target consumer"s needs. Place how you want to get the product accessible to your consumers. Geing the product to the target market"s place or locaion. Price is the revenue-generaing funcion of the markeing mix. Price sensiiviies of consumers for own and rival products. To get the word out about the company"s product. To convince customers about the greater value they get from the product, disinct from all compeing products. To remind customers to come back for repeat purchases. Design the best promoion method to the product and its target market. (personal. 3 funcions of promoions: inform, persuade, & ____. Company environment: company objecives and company resources, sources of strengths and weaknesses, assessing company resources, Providing easy access to as many customers as possible.
