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Marketing mix
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_marketing-mix.jpg "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.")
_naples-florida-ranked-number-one-place-to-live-in-the-us.jpg "Naples, Florida, Ranked Number One, Place to Live in the US.<br/>'Naples Daily News' is proud to report that the Florida <br/>city ranks as the number one Best Place to Live in the <br/>United States, according to U.S. News & World Report.<br/>The annual Best Places to Live in the U.S. list <br/>often features the Southwestern Florida city for <br/>its weather and overall quality of life.<br/>In the past ten years, Naples has also emerged as <br/>the Pickleball Capital of the World, hosting the very <br/>first championships for the popular sport in 2016.<br/>Naples, Florida, takes <br/>the top spot due to its <br/>strong desirability and job <br/>market scores, and moderately <br/>high quality-of-life score, U.S. News report, via 'Naples Daily News'.<br/>Other Florida cities to make the list <br/>were Sarasota at number 11 followed <br/>by Pensacola at number 31.<br/>Other Florida cities to make the list <br/>were Sarasota at number 11 followed <br/>by Pensacola at number 31.<br/>According to U.S. News & World Report, the list is , \")
_the-new-audi-s3-sportback-exterior-design.jpg "An extensive upgrade for a successful model: The car with which Audi established the premium compact class in 1996, the A3, is sportier, more comfortable, and more digital than ever, thanks to its more progressive design, significantly extended standard equipment, and new materials and offers. Apps that can be used directly in the vehicle display, selectable daytime running light signatures, and the ability to add vehicle functions on demand any time enable a high degree of customization. The A3 allstreet, the distinctive crossover of the A3 family, is new to the market. With its characteristic off-road look, three centimeters of extra ground clearance compared to the A3 Sportback, and a raised seat position, the vehicle offers an SUV like driving experience combined with high functionality.")
_how-uncle-nearest-founder-fawn-weaver-built-a-billion-dollar-whiskey-business-124-forbes.jpg "Fawn Weaver founded Uncle Nearest to honor the formerly enslaved master distiller who taught Jack Daniel the secret to making great whiskey. Seven years later, she owns the most successful Black-owned liquor empire, worth $1.1 billion, with ambitious plans for the future. Including real estate, Weaver’s 40% stake makes her worth $480 million, landing her at No. 68 on Forbes’ Richest Self-Made Women list.<br/><br/>Weaver wasn’t a Jack Daniel’s drinker, but she knew there were countless former slaves whose stories, like Green’s, had been erased from history. As Green was no longer part of parent company Brown-Forman’s official history of Jack Daniel’s, Weaver sought to rectify that.<br/><br/>The first Uncle Nearest whiskey—named 1856 for the year it is believed Nearest Green perfected charcoal filtration—debuted in 2017 and went on to win the first of more than 1,000 awards for the brand. Today, there are seven Uncle Nearest releases—bourbons and ryes all produced under the direction of Victoria Eady Butler, Green’s great-great-granddaughter.<br/><br/>Read the full story on Forbes:<br/>https://www.forbes.com/sites/chloesorvino/2024/05/28/fawn-weaver-interview-uncle-nearest-whiskey-unicorn/<br/><br/>0:00 Intro<br/>1:21 From Rebellious Kid to Entrepreneur<br/>2:40 Leaving Home at 15<br/>3:32 Finding Purpose<br/>4:52 The Story of Uncle Nearest Green<br/>7:25 Fitting the Pieces Together<br/>9:31 The Power of Charcoal Filtration<br/>10:04 “I Should Have Failed”<br/>12:49 Setting Up the Next Generation<br/>14:03 Beating the Odds<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_marketing-mix.webp "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.")
_naples-florida-ranked-number-one-place-to-live-in-the-us.webp "Naples, Florida, Ranked Number One, Place to Live in the US.<br/>'Naples Daily News' is proud to report that the Florida <br/>city ranks as the number one Best Place to Live in the <br/>United States, according to U.S. News & World Report.<br/>The annual Best Places to Live in the U.S. list <br/>often features the Southwestern Florida city for <br/>its weather and overall quality of life.<br/>In the past ten years, Naples has also emerged as <br/>the Pickleball Capital of the World, hosting the very <br/>first championships for the popular sport in 2016.<br/>Naples, Florida, takes <br/>the top spot due to its <br/>strong desirability and job <br/>market scores, and moderately <br/>high quality-of-life score, U.S. News report, via 'Naples Daily News'.<br/>Other Florida cities to make the list <br/>were Sarasota at number 11 followed <br/>by Pensacola at number 31.<br/>Other Florida cities to make the list <br/>were Sarasota at number 11 followed <br/>by Pensacola at number 31.<br/>According to U.S. News & World Report, the list is , \")
_the-new-audi-s3-sportback-exterior-design.webp "An extensive upgrade for a successful model: The car with which Audi established the premium compact class in 1996, the A3, is sportier, more comfortable, and more digital than ever, thanks to its more progressive design, significantly extended standard equipment, and new materials and offers. Apps that can be used directly in the vehicle display, selectable daytime running light signatures, and the ability to add vehicle functions on demand any time enable a high degree of customization. The A3 allstreet, the distinctive crossover of the A3 family, is new to the market. With its characteristic off-road look, three centimeters of extra ground clearance compared to the A3 Sportback, and a raised seat position, the vehicle offers an SUV like driving experience combined with high functionality.")
_how-uncle-nearest-founder-fawn-weaver-built-a-billion-dollar-whiskey-business-124-forbes.webp "Fawn Weaver founded Uncle Nearest to honor the formerly enslaved master distiller who taught Jack Daniel the secret to making great whiskey. Seven years later, she owns the most successful Black-owned liquor empire, worth $1.1 billion, with ambitious plans for the future. Including real estate, Weaver’s 40% stake makes her worth $480 million, landing her at No. 68 on Forbes’ Richest Self-Made Women list.<br/><br/>Weaver wasn’t a Jack Daniel’s drinker, but she knew there were countless former slaves whose stories, like Green’s, had been erased from history. As Green was no longer part of parent company Brown-Forman’s official history of Jack Daniel’s, Weaver sought to rectify that.<br/><br/>The first Uncle Nearest whiskey—named 1856 for the year it is believed Nearest Green perfected charcoal filtration—debuted in 2017 and went on to win the first of more than 1,000 awards for the brand. Today, there are seven Uncle Nearest releases—bourbons and ryes all produced under the direction of Victoria Eady Butler, Green’s great-great-granddaughter.<br/><br/>Read the full story on Forbes:<br/>https://www.forbes.com/sites/chloesorvino/2024/05/28/fawn-weaver-interview-uncle-nearest-whiskey-unicorn/<br/><br/>0:00 Intro<br/>1:21 From Rebellious Kid to Entrepreneur<br/>2:40 Leaving Home at 15<br/>3:32 Finding Purpose<br/>4:52 The Story of Uncle Nearest Green<br/>7:25 Fitting the Pieces Together<br/>9:31 The Power of Charcoal Filtration<br/>10:04 “I Should Have Failed”<br/>12:49 Setting Up the Next Generation<br/>14:03 Beating the Odds<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
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