Business Management HL
Business Management HL
6
Chapters
223
Notes
Unit 1 - Introduction To Business Management
Unit 1 - Introduction To Business Management
Unit 2 - Human Resource Management
Unit 2 - Human Resource Management
Unit 3 - Finance & accounts
Unit 3 - Finance & accounts
Unit 4 - Marketing
Unit 4 - Marketing
Unit 5 - Operations management
Unit 5 - Operations management
Unit 6 - Assessment
Unit 6 - Assessment
IB Resources
Unit 4 - Marketing
Business Management HL
Business Management HL

Unit 4 - Marketing

Master The 7 Ps: Unlock The Perfect Marketing Mix For Your Business

Word Count Emoji
609 words
Reading Time Emoji
4 mins read
Updated at Emoji
Last edited onย 14th Jun 2024

Table of content

What's a marketing mix? ๐ŸŒŸ

Imagine making the world's yummiest chocolate cake. You need the right ingredients, in the right amounts, combined in the right way. The marketing mix is just like that - but for businesses!

Key ingredients (ps) in a marketing mi ๐ŸŽˆ

  • Product: What you're selling!
  • Price: How much it costs.
  • Place: Where you're selling it.
  • Promotion: How you're telling people about it.
  • People: Who's involved in the selling process.
  • Processes: How you get the product to the customer.
  • Physical evidence: Anything customers can see related to the product.

Why a 7 - ps mix is awesome! ๐ŸŽ

  • All-in-One Guide: It's like a Swiss Army knife for marketing. Everything you need, in one model!
  • Strategic Boss: Helps businesses go from just an idea to real-world action.
  • Flexible: You can tweak your marketing strategies based on what your customers need, what you have, and what's happening in the market.

But...some hiccups! ๐Ÿฅบ

  • Too Fancy?: Some businesses love the classic 4 Ps. So, adding 3 more might feel like putting too many toppings on a pizza.
  • Productivity? Hello?: The 7 Ps don't really talk about how productive a business is.
  • Multiple Products Dilemma: The model says "product" (singular). But what if you sell, say, 5 types of donuts? Do you treat each donut differently?

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IB Resources
Unit 4 - Marketing
Business Management HL
Business Management HL

Unit 4 - Marketing

Master The 7 Ps: Unlock The Perfect Marketing Mix For Your Business

Word Count Emoji
609 words
Reading Time Emoji
4 mins read
Updated at Emoji
Last edited onย 14th Jun 2024

Table of content

What's a marketing mix? ๐ŸŒŸ

Imagine making the world's yummiest chocolate cake. You need the right ingredients, in the right amounts, combined in the right way. The marketing mix is just like that - but for businesses!

Key ingredients (ps) in a marketing mi ๐ŸŽˆ

  • Product: What you're selling!
  • Price: How much it costs.
  • Place: Where you're selling it.
  • Promotion: How you're telling people about it.
  • People: Who's involved in the selling process.
  • Processes: How you get the product to the customer.
  • Physical evidence: Anything customers can see related to the product.

Why a 7 - ps mix is awesome! ๐ŸŽ

  • All-in-One Guide: It's like a Swiss Army knife for marketing. Everything you need, in one model!
  • Strategic Boss: Helps businesses go from just an idea to real-world action.
  • Flexible: You can tweak your marketing strategies based on what your customers need, what you have, and what's happening in the market.

But...some hiccups! ๐Ÿฅบ

  • Too Fancy?: Some businesses love the classic 4 Ps. So, adding 3 more might feel like putting too many toppings on a pizza.
  • Productivity? Hello?: The 7 Ps don't really talk about how productive a business is.
  • Multiple Products Dilemma: The model says "product" (singular). But what if you sell, say, 5 types of donuts? Do you treat each donut differently?

Unlock the Full Content! File Is Locked Emoji

Dive deeper and gain exclusive access to premium files of Business Management HL. Subscribe now and get closer to that 45 ๐ŸŒŸ