Unit 1: Marketing
Extended marketing mix
Identify and analyse the individual elements of the extended marketing mix
Product: products and brands — features, advantages and benefits, the total product
concept, product mix, product life-cycle and its effect on other elements of the marketing
mix, product strategy, new product development, adoption process
Place: customer convenience and availability, definition of channels, types and functions of
intermediaries, channel selection, integration and distribution systems, franchising, physical
distribution management and logistics, ethical issues
Price: perceived value, pricing context and process, pricing strategies, demand elasticity, competition, costs, psychological, discriminatory, ethical issues
Promotion: awareness and image, effective communication, integrated communication process — (SOSTT + 4Ms), promotional mix elements, push and pull strategies, advertising above and below the line including packaging, public relations and sponsorship, sales promotion, direct marketing and personal selling, branding, internet and online marketing
The shift from the 4Ps to the 7Ps: product-service continuum, concept of the extended marketing mix, the significance of the soft elements of marketing — people, physical evidence and process management
Suggested Reading
Marketing: Principles and Practice
Principles and Practice of Marketing, 3rd Ed.
Principles of Marketing: European Edition
