Marketing-Mix-4P 

The marketing is a method to sell the right Product, at the right Price, at the right Place, with adequate Promotion, to the right customer of course. It refers to the operations needed to put an product on the market, from market studies (which product or service?) to the point of sale (Place).

PRODUCT:

The Product/ or service must meet the customers' needs and expectations. The firm must look at the competitor's product to know what is to sell (at what price etc...)

PLACE:

The firm must find the right (best) place to sell it. It can be:

  • (single) shops or stores, convenience stores
  • agencies (banks, post offices)
  • shopping mall (or shopping centres) or department stores (Mark and spencer, Galerie Lafayette etc..°
  • on websites
  • on the phone
  • door-to-door selling
  • thanks to catalogues for mail order service businesses

PRICE:

Products and services must be sold at the right price: if it's too high or too low (look at competitor's prices), customers won't buy it. Of course, some prices cannot be set too low, since the customer will find your product is cheap (of bad quality!) The psychological price is also important (what the customer is ready to pay!)

PROMOTION:

The 4 elements are Advertising, sales promotion, publicity and personnal selling.

Advertising is made by an agency or a service in charge of promoting the goods to maximize profit. They target an audience and create advertising campaigns (on TV or the Radio, on billboards in the street or in bus shelters, in magazines or newspapers)

Publicity is something you don't pay for, it depends on your company's repution, what people say about you, or word of mouth.

 

Vocabulary box

the right... le bon...

to meet the needs: satisfaire/combler les besoins

Promotion: la communication, ou comment promouvoir

the expectations: les attentes

thanks to: grâce à

centres commerciaux: shopping malls

magasin de proximité: convenience stores

la vente par correspondance: mail order service

augmenter les bénéfices: to maximize profit

paneaux d'affichages: billboards 

abris bus: bus shelters

être fixé (une prix) : to be set (price)