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Marketing mix<br/>Marketing mix, often referred to as the 7Ps, is a fundamental concept in marketing that represents a set of tools and tactics used by businesses to promote and sell their products or services. The 7Ps stand for Product, Price, Place, Promotion, People, Process and Physical Evidence.<br/>Here's an overview of each component:<br/>Product:<br/>This refers to the physical product or service that a company offers to meet the needs and wants of its customers. It involves product design, quality, features, branding, and packaging. Understanding the product life cycle is also crucial in this context.<br/>Example:<br/>The iPhone is a line of smartphones designed and marketed by Apple Inc. It is known for its sleek design, advanced features, and integration with the Apple ecosystem. The product includes hardware specifications, software (iOS), and additional features such as the App Store and iCloud.<br/>Price:<br/>Price represents the amount of money customers are willing to pay for a product or service. Pricing strategies can vary, including penetration pricing, skimming pricing, discount pricing, and value-based pricing. Pricing decisions often consider factors such as production costs, competitor pricing, and perceived value.<br/>Example:<br/>Apple adopts a premium pricing strategy for the iPhone. Despite the higher cost compared to some competitors, the brand's reputation for quality and innovation justifies the price point. Apple often introduces new models at different price levels to cater to various customer segments.<br/>Place (Distribution):<br/>Place refers to the channels and methods used to make the product or service available to the target customers. Distribution channels can include direct sales, retail, e-commerce, wholesalers, and more. Effective distribution ensures that the product is available at the right place and time.<br/>Example:<br/>iPhones are available through various distribution channels, including Apple's own retail stores, authorized resellers, and telecommunications carriers. Apple's direct-to-consumer approach through its online and physical stores emphasizes the importance of customer experience in the purchase process.<br/>Promotion:<br/>Promotion involves the marketing and communication strategies used to create awareness and persuade customers to purchase a product or service. This includes advertising, public relations, sales promotions, personal selling, and digital marketing. The goal is to create a strong brand image and communicate the value of the product to the target audience.<br/>Example:<br/>Apple employs a mix of advertising, public relations, and digital marketing to promote the iPhone. High-quality and visually appealing advertisements showcase the product's features and highlight its unique selling points. Apple also relies on a strong brand image, product launches, and events to generate buzz and anticipation.
Marketing mix
⏲ 6:26 👁 190K
MIT OpenCourseWare
L22.2 Definition of the Poisson Process
⏲ 5 minutes 7 seconds 👁 38.3K
The Organic Chemistry Tutor
Introduction to Poisson Distribution - Probability & Statistics
⏲ 16 minutes 12 seconds 👁 497.4K
Germany has developed new contingency plans for potential war, including reinstating military conscription, controlling food distribution, and using underground facilities as shelters. Citing perceived Russian threats, the plans allow for evacuations, forcing companies into war production, and deploying NATO troops in Germany's east.<br/> <br/>Defense Minister Pistorius warned Germany must be \
'Ready for Attack!’:Germany Prepares for War with Conscription and Underground Shelters| Watch
⏲ 3:3 👁 690K
Explained by Michael
Understanding Exponential vs Poisson Distributions
⏲ 6 minutes 34 seconds 👁 29.6K
jbstatistics
An Introduction to the Poisson Distribution
⏲ 9 minutes 3 seconds 👁 695.1K
Data from NASA's Stratospheric Observatory for Infrared Astronomy (SOFIA) was used to create a water distribution map of the area near the moon's south pole. <br/><br/>Credit: NASA's Goddard Space Flight Center Scientific Visualization Studio/Ernie Wright | edited by Space.com's Steve Spaleta<br/>Music: Stay in Orbit by Victor Lundberg / courtesy of Epidemic Sound
Water Distribution Near Moon’s South Pole Mapped Using NASA SOFIA Data
⏲ 1:6 👁 135K
Mathemaniac
Queuing theory and Poisson process
⏲ 25 minutes 25 seconds 👁 41.2K
jbstatistics
Poisson or Not?(When does a random variable have a Poisson distribution?)
⏲ 14 minutes 40 seconds 👁 128.4K
PBBM visits Albay to lead distribution of aid to #ElNiñoPH affected farmers, fisherfolk<br/><br/>
PBBM visits Albay to lead distribution of aid to #ElNiñoPH affected farmers, fisherfolk
⏲ 5:39 👁 125K
Lawrence Leemis
Poisson processes -- Example 1
⏲ 11 minutes 52 seconds 👁 47.4K
zedstatistics
Poisson Distribution EXPLAINED in UNDER 15 MINUTES!
⏲ 14 minutes 24 seconds 👁 149.3K
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