Marketing Mix.docx - Marketing Mix Product price place and...

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Marketing Mix Product, price, place, and promotion; Know how to combine the elements to form an effective marketing program Integrated marketing communications Coordinate various promotional elements and other marketing activities that communicate with a firm's customers; Ensures all marketing and promotional activities project a consistent, unified image Promotional mix Tools that accomplish an organization's communication objectives; Promotion: Coordination of all seller-initiated efforts to set up channels of information and persuasion & sell goods and services or promote an idea Advertising Any paid form of nonpersonal communication about an organization, product, or service Internal analysis Assesses the firm and relevant areas involving the product/service offering, reviews previous promotional programs and results External analysis Focuses on characteristics of a firm's customers, market segments, positioning strategies, and competitors
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Strategic marketing plan Guides allocation of organization's resources, specific marketing programs and policies & evolves from an
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