Btec Business Level 3 Unit 2 P4 Business

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Task 1 The marketing mix is developed on four main elements known as Product, Price, Promotion and Place, but the marketing mix can also be extended by adding another three elements these are People, Process and Physical. Product – This is where a decision is made on what product or service should be offered to customers. This could also be improving an existing product or service, it is very important that technology based are updated as they may become out of date very quickly which would make them inferior to the competition. To create competitive advantage organisations may also use the product for brand naming, packaging and a guarantee that accompanies the product. Price – Price is a very important part of the marketing mix…show more content…
What may also be different in B2B is the way they repay for what they have bought may be different. Businesses may be offered different crediting facilities allowing them to use this product/service to make revenue and paying back once they start making a return. Promotions would be advertised internally when marketing B2B; they would use internal trade journals, emails, letters and advertising in similar product magazines that are published only for organizations. The marketing company may carry out demonstration open days for businesses to see the product/service in use. Distribution channels would be altered and potentially privatized as some products/service may be seen as top secret. The seller may need to set up private couriers to deliver the product/service to buying business. If what is marketed is a product the selling business may need to specialized employees to fit the product or to show how to work the product. E.g. some organizations offer training on the product purchased.

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