MARE6A
Module 6A: The Traditional Marketing Mix (Core)
Outcome
Investigate components of the traditional marketing mix.
Indicators
(a) Identify the elements of the traditional marketing mix, also known as the 4 Ps (i.e., product, price, place and promotion).
(b) Explain the application of the traditional marketing mix to a social marketing campaign.
(c) Differentiate between products that are tangible (e.g., goods) and intangible (e.g., services, ideas or experiences).
(d) Categorize local businesses or organizations according to the types of products they offer.
(e) Discuss reasons (e.g., meeting a basic need or contributing to a desired lifestyle) why customers purchase a particular product.
(f) Assess the importance of offering a product that meets or exceeds customer expectations.
(g)

Research considerations for the product component of the traditional marketing mix, such as:

  • the want or need it addresses;
  • how the product differs from the competition;
  • warranties and guarantees; and,
  • packaging and labelling.
(h) Assess the effects of pricing a product too high or pricing it too low.
(i)

Research considerations for pricing a product, such as:

  • the value, perceived or real, of high-end versus low-end brands;
  • brand equity;
  • the price customers are willing to pay;
  • cost of production (e.g., materials and human resources); and,
  • competitor pricing.
(j) Discuss the importance of offering a product in the right place and at the right time.
(k)

Research considerations for product placement, such as:

  • where potential customers are located;
  • where and how potential customers shop (e.g., retail location and online); and,
  • where the competition places their products.
(l) Examine the role of promotion in gaining the attention of consumers and motivating them to take action (e.g., purchase a product or change behaviour).
(m) Identify paid (e.g., radio or television advertisements, print media and social advertisements) and free (e.g., organic social media and word of mouth) promotional opportunities.
(n) Compare features of push and pull marketing.
(o) Identify real-life examples of push and pull marketing.
(p)

Research considerations for product promotion such as:

  • budget;
  • how competitors promote their product;
  • timing (e.g., time of day, week, month or season); and,
  • infrastructure required for using marketing tools such as social media.
(q) Investigate advantages (e.g., global reach, cost efficiency and measurable results) and disadvantages (e.g., security and privacy issues, timeconsuming, and skills and training required) of online promotion.
(r) Examine the application of the 4 Ps for a business, organization or brand/product of personal interest.
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