However, it is concerned with what the product means to the customer.
Marketing therefore plays a key role in determining such aspects as: The product range and how it is used is a function of the marketing mix.
The club has positioned itself at the upmarket premier end of the market and, as a result, it tends to charge premium prices as evidenced by the high cost of a season ticket to watch home league games.
Positioning or repositioning a product - refers to locating that product within a market for example presenting it is an upmarket or downmarket product.
However, successful promotion increases sales so that advertising and other costs are spread over a larger output.It will provide information that will assist them in making a decision to purchase a product or service.The razzmatazz, pace and creativity of some promotional activities are almost alien to normal business activities.The club also engages in a range of joint promotional activities, for example with the mobile phone company Vodafone.Manchester United books, shirts, programmes, keyrings and many other items are sold and promoted through its website.
Single marketing mix is used by
The product is the central point on which marketing energy must focus.Finding out how to make the product, setting up the production line, providing the finance and manufacturing the product are not the responsibility of the marketing function.Positioning it as a product for younger consumers or older consumers etc. Jerome Mc Carthy's four P classification for developing an effective marketing strategy: product, price, placement, or distribution, and promotion.Of all the aspects of the marketing mix, price is the one, which creates sales revenue - all the others are costs.
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The price of an item is clearly an important determinant of the value of sales made.
An organisation's pricing policy will vary according to time and circumstances.
Crudely speaking, the value of water in the Lake District will be considerably different from the value of water in the desert.
Getting the right product to the right place at the right time involves the distribution system.
The choice of distribution method will depend on a variety of circumstances.