Page 244 - DMGT308_CUSTOMER_RELATIONSHIP_MANAGEMENT

Unit 9: Segmentation, Targeting and Positioning

1. Product Mix Strategy: Product Mix Strategy is about determining features of your product Notes
or service. Product mix strategy deals with:
(a) The product life cycle

(b) Brand name
(c) Packaging
(d) Design
(e) Quality

(f) Safety
(g) After sales service
2. Pricing Strategy: The price of a product can be fixed in many ways. Marketing mix pricing
is a tool that helps in settling on a pricing strategy, considering the followings:
(a) Retail price
(b) Wholesale price
(c) Special offers

(d) Penetration pricing
(e) Price skimming
(f) Optional product pricing
(g) Geographical pricing

3. Place (Distribution) Strategy: Place marketing mix is nothing but distributing product to
the customer. Few instances for this:
(a) Warehousing

(b) Distribution centres
(c) Reverse Logistics
(d) Transportation
(e) Inventory Management

4. Promotion Mix Strategy: Promotion mix strategy deals with the available tools for
marketing communications. This element helps in deciding on the location, where the
customers will get the product or service. Promotion mix strategy also deals with:
(a) Sales promotion
(b) Distribution channels
(c) Advertising

(d) Sponsorship
(e) Trade Fairs and Events
(f) Logistics
(g) Storage

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