{"id":1091,"date":"2022-04-10T15:18:00","date_gmt":"2022-04-10T13:18:00","guid":{"rendered":"https:\/\/support.centreforelites.com\/the-marketing-mix-controllable-marketing-variables\/"},"modified":"2024-03-14T16:43:27","modified_gmt":"2024-03-14T14:43:27","slug":"the-marketing-mix-controllable-marketing-variables","status":"publish","type":"post","link":"https:\/\/support.centreforelites.com\/en\/the-marketing-mix-controllable-marketing-variables\/","title":{"rendered":"THE MARKETING MIX: CONTROLLABLE MARKETING VARIABLES"},"content":{"rendered":"\n<p class=\"\"><span style=\"font-size: 13pt; line-height: 124%;\">The second set of forces that make marketing an endlessly changing activity is put in <\/span><span style=\"font-size: 14pt; line-height: 124%;\">motion by individual enterprises when they make continual adjustments in the <\/span><span style=\"font-size: 13pt; line-height: 124%;\">control able marketing factors. These forces are known as the marketing mix.<\/span><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 13pt; line-height: 130%;\">Though there are a multitude of these controllable variables, Jerome McCarthy has <\/span>popularised a four-factor classification, now commonly known as the <b><span style=\"font-size: 13pt; line-height: 130%;\">4Ps: Product, Place, <\/span><\/b><b><span style=\"font-size: 14pt; line-height: 130%;\">Promotion, and <a href=\"https:\/\/motivemeaning.blogspot.com\/2022\/04\/price-and-pricing-decisions.html\">Price<\/a>.<\/span><\/b><\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d90c3071f7e&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d90c3071f7e\" class=\"wp-block-image size-full wp-lightbox-container\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"470\" height=\"466\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/THE-MARKETING-MIX.-CONTROLLABLE-MARKETING-VARIABLES.png?resize=470%2C466&#038;ssl=1\" alt=\"THE MARKETING MIX. CONTROLLABLE MARKETING VARIABLES\" class=\"wp-image-2242\" srcset=\"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/THE-MARKETING-MIX.-CONTROLLABLE-MARKETING-VARIABLES.png?w=470&amp;ssl=1 470w, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/THE-MARKETING-MIX.-CONTROLLABLE-MARKETING-VARIABLES.png?resize=300%2C297&amp;ssl=1 300w, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/THE-MARKETING-MIX.-CONTROLLABLE-MARKETING-VARIABLES.png?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/THE-MARKETING-MIX.-CONTROLLABLE-MARKETING-VARIABLES.png?resize=12%2C12&amp;ssl=1 12w\" sizes=\"(max-width: 470px) 100vw, 470px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">THE MARKETING MIX. CONTROLLABLE MARKETING VARIABLES<\/figcaption><\/figure>\n\n\n\n<p class=\"\"><span style=\"font-size: 14pt; line-height: 115%;\">Definitionally, marketing mix is the <a href=\"https:\/\/support.centreforelites.com\/en\/elements-compounds-and-mixtures\/\">mixture<\/a> of controllable marketing variables that <\/span><span style=\"font-size: 13pt; line-height: 115%;\">the firm uses to pursue the sought levels of sales in the <a href=\"https:\/\/support.centreforelites.com\/en\/target-market-strategies\/\">target market<\/a>.<\/span><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 13pt; line-height: 119%;\">The 4Ps give the marketing manager a framework within which he can operate on a cost\u00adeffective manner. His eventual success will be determined by the wisdom of his choices, his ability to modify his mix in the face of uncertainty and change, and his determination to <\/span><span style=\"font-size: 14pt; line-height: 119%;\">make his strategy work.<\/span><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d90c30758d8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d90c30758d8\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/support.centreforelites.com\/en\/the-marketing-mix-controllable-marketing-variables\/#Product\" >Product<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/support.centreforelites.com\/en\/the-marketing-mix-controllable-marketing-variables\/#Place\" >Place<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/support.centreforelites.com\/en\/the-marketing-mix-controllable-marketing-variables\/#Promotion\" >Promotion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/support.centreforelites.com\/en\/the-marketing-mix-controllable-marketing-variables\/#CONCLUSION\" >CONCLUSION<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Product\"><\/span><span style=\"font-size: 14pt; line-height: 119%;\"><b style=\"font-size: medium;\"><span style=\"font-size: 13pt; line-height: 22.5333px;\">Product<\/span><\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"\">Under the first P, which stands for the product, the company&nbsp;takes care of<b><span style=\"font-size: 14pt; line-height: 24.08px;\">&nbsp;<\/span><\/b><span style=\"font-size: 13pt; line-height: 22.36px;\">all the problems of&nbsp;<\/span>developing the product or service which it plans to offer to the <a href=\"https:\/\/motivemeaning.blogspot.com\/2022\/04\/target-market-strategies.html\">target market<\/a>.<\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 13pt; line-height: 124%;\">Such problems include:<\/span><\/p>\n\n\n\n<p class=\"\"><a name=\"bookmark291\"><\/a><!-- [if !supportLists]--><span style=\"color: black; font-size: 14pt; line-height: 112%;\"><span style=\"mso-list: Ignore;\">(i)<span style=\"font: 7pt 'Times New Roman';\">&nbsp;&nbsp;&nbsp; <\/span><\/span><\/span><!--[endif]--><span style=\"font-size: 14pt; line-height: 112%;\">selecting a product or product lines;<\/span><\/p>\n\n\n\n<p class=\"\"><a name=\"bookmark292\"><\/a><!-- [if !supportLists]--><span style=\"color: black; font-size: 14pt; line-height: 112%;\"><span style=\"mso-list: Ignore;\">(ii)<span style=\"font: 7pt 'Times New Roman';\">&nbsp;&nbsp;&nbsp; <\/span><\/span><\/span><!--[endif]--><span style=\"font-size: 14pt; line-height: 112%;\">adding or dropping items in the product line;<\/span><\/p>\n\n\n\n<p class=\"\">( i i i ) branding ;<\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 14pt; line-height: 112%;\">( iv)packaging; and<\/span><\/p>\n\n\n\n<p class=\"\"><a name=\"bookmark293\"><\/a><!-- [if !supportLists]--><span style=\"color: black; font-size: 14pt; line-height: 112%;\"><span style=\"mso-list: Ignore;\">(i)<span style=\"font: 7pt 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/span><\/span><!--[endif]--><span style=\"font-size: 14pt; line-height: 112%;\">Standardising and grading<\/span><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 13pt; line-height: 117%;\">In a nutshell, the product area is concerned with developing the right product to the <a href=\"https:\/\/motivemeaning.blogspot.com\/2022\/04\/target-market-strategies.html\">target <\/a><\/span><span style=\"font-size: 14pt; line-height: 117%;\"><a href=\"https:\/\/motivemeaning.blogspot.com\/2022\/04\/target-market-strategies.html\">market<\/a>.<\/span><\/p>\n\n\n\n<p class=\"\">A product (or a service) is not of any use to the consumer if it is not available when and where he wants it. Therefore, the company must consider where, when, how and by whom the goods and services are to be offered for sale. Sometimes, for example, complicated channels of distribution are necessary, while at the times, very simple methods can be used effectively. Wholesaling, retailing, transportation, and storage play a part in the distribution of most goods and services.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Place\"><\/span><span style=\"font-size: 17.3333px;\">Place<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"\">The second P (for <span style=\"font-size: 13pt; line-height: 130%;\">place) is concerned with all problems, functions and institutions involved in getting the right product to the <a href=\"https:\/\/support.centreforelites.com\/en\/target-market-strategies\/\">target market<\/a>.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Promotion\"><\/span><span style=\"font-size: 13pt; line-height: 130%;\"><span style=\"font-size: medium;\">Promotion<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"\">The third P (for promotion) has to do with the methods of communicating to the <a href=\"https:\/\/support.centreforelites.com\/en\/target-market-strategies\/\">target market<\/a>, the &#8220;right product&#8221; that will be sold in the &#8220;right place&#8221; and the &#8220;price&#8221;. <span style=\"font-size: 13pt; line-height: 129%;\">Here, all the problems of sales promotion, advertising and the <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a>, <\/span>training, and utilization of a sales force are usual y covered. Advertising, sales promotion and personal selling are to be considered as complementary methods of <span style=\"font-size: 13pt; line-height: 129%;\">communicating with customers.<\/span><\/p>\n\n\n\n<p class=\"\">While the marketing manager is developing the &#8220;right&#8221; product, place, and promotion, he must also decide on the &#8220;right&#8221; price, i.e the one which will make his total marketing mix attractive. Before setting the price, the marketing manager considers the nature of competition in his <a href=\"https:\/\/support.centreforelites.com\/en\/target-market-strategies\/\">target market<\/a>, as well as the existing practices on mark-ups, discounts, and terms of trade. In some instances, he must also consider legal restrictions affecting prices. In summary, price is concerned with determining the &#8220;right price&#8221; to move the &#8220;right product&#8221; to the &#8220;right place&#8221; with the &#8220;right promotion&#8221; for the <a href=\"https:\/\/support.centreforelites.com\/en\/target-market-strategies\/\">target market<\/a>.<\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 13pt; line-height: 132%;\">By varying each of these controllable marketing variables, a marketing mi can be <\/span>selected from a great number of possibilities. Though this framework may appear simple, the task of making choices within it is fairly cumbersome. For instance, each of these four control able marketing variables has man<span style=\"font-size: 9pt; line-height: 132%;\">&#8211;<\/span>, potential variations, thereby making the number of possible marketing mixes very large. Let us assume that there are five (5) variations of each of the variables (i.e 5 products, 5 places, 5 promotions and 5 different prices), there would be 625 possible different marketing mixes!. And, it could be more. Hence, as the number of variations increases the number of possible mixes which must be considered by the marketing manager increases geometrically.<\/p>\n\n\n\n<p class=\"\">We must stress here that no human mind is quite capable of currently evaluating all the possible marketing mixes. What is practicable is a progressive elimination of the least desirable, such that the problem can be reduced to manageable proportions.<\/p>\n\n\n\n<p class=\"\"><span style=\"text-indent: 32pt;\">Generally, there is only one &#8220;best&#8221; strategy at any given time. However, since <\/span><span style=\"font-size: 13pt; line-height: 129%; text-indent: 32pt;\">conditions, often change in the market situations; there may be many good <\/span><span style=\"text-indent: 32pt;\">ones. Even then, a good strategy will need to be altered as consumer behaviour, <\/span><span style=\"font-size: 13pt; line-height: 129%; text-indent: 32pt;\">competitors&#8217; behaviour, and other non-controlable variable change.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"CONCLUSION\"><\/span><span style=\"mso-bookmark: bookmark295;\"><span style=\"mso-bookmark: bookmark296;\">CONCLUSION<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"\"><a name=\"bookmark296\"><\/a><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 13pt; line-height: 120%;\">You have learned in this unit that environmental forces influence an organisational marketing. The marketing environment presents an unending series of opportunities and <\/span>threats. The major responsibility for identifying changes in the macro-environment falls to a <span style=\"font-size: 13pt; line-height: 120%;\">company&#8217;s marketer. Environmental scanning and analysis are particularly important here.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Definitionally, marketing mix is the mixture of controllable marketing variables that the firm uses to pursue the sought levels of sales in the target market<\/p>\n","protected":false},"author":1,"featured_media":2242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":139,"footnotes":""},"categories":[139],"tags":[274],"class_list":["post-1091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing","tag-marketing-mix"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/THE-MARKETING-MIX.-CONTROLLABLE-MARKETING-VARIABLES.png?fit=470%2C466&ssl=1","jetpack-related-posts":[{"id":1092,"url":"https:\/\/support.centreforelites.com\/en\/the-marketing-forces\/","url_meta":{"origin":1091,"position":0},"title":"The Marketing Forces in a Company","author":"centreforelites","date":"April 10, 2022","format":false,"excerpt":"A company's marketing system often operates within the framework of marketing forces, which constitutes the system's environment. Such forces are either external or internal to the firm. \u00a0EXTERNAL FORCES: THE MARKETING ENVIRONMENT\u00a0 The external variables (also known as the marketing environment) general y are not control able by the organisation.\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/support.centreforelites.com\/en\/category\/marketing\/"},"img":{"alt_text":"The Marketing Forces in a Company","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/The-Marketing-Forces-in-a-Company.png?fit=720%2C540&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/The-Marketing-Forces-in-a-Company.png?fit=720%2C540&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/The-Marketing-Forces-in-a-Company.png?fit=720%2C540&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/The-Marketing-Forces-in-a-Company.png?fit=720%2C540&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1045,"url":"https:\/\/support.centreforelites.com\/en\/price-and-pricing-decisions\/","url_meta":{"origin":1091,"position":1},"title":"Price and Pricing Decisions","author":"centreforelites","date":"April 21, 2022","format":false,"excerpt":"n this article, we shall be covering the role of price and pricing in the marketing mix, for instance, what price is, how it can be used, and how it is set relative to such factors as product costs, market demand, and competitors' prices.","rel":"","context":"In &quot;Fundamentals of Marketing&quot;","block_context":{"text":"Fundamentals of Marketing","link":"https:\/\/support.centreforelites.com\/en\/category\/fundamentals-of-marketing\/"},"img":{"alt_text":"Price and Pricing Decisions","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-5709665.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-5709665.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-5709665.jpeg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-5709665.jpeg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-5709665.jpeg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":1085,"url":"https:\/\/support.centreforelites.com\/en\/segmenting-industrial-markets\/","url_meta":{"origin":1091,"position":2},"title":"SEGMENTING INDUSTRIAL MARKETS","author":"centreforelites","date":"April 10, 2022","format":false,"excerpt":"\u00a0 Industrial markets can be segmented into some variables employed in consumer market segmentation.\u00a0Such variables include geographic, benefits sought, and usage rate. Apart from these, several other variables can also be employed. For instance, Bonoma and Shapiro (1983) have suggested segmenting the business market with the variables. The demographic variables\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/support.centreforelites.com\/en\/category\/marketing\/"},"img":{"alt_text":"SEGMENTING INDUSTRIAL MARKETS","src":"https:\/\/i0.wp.com\/slidetodoc.com\/presentation_image_h\/0e906eac7e70c606a60244afaf7ef365\/image-7.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/slidetodoc.com\/presentation_image_h\/0e906eac7e70c606a60244afaf7ef365\/image-7.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/slidetodoc.com\/presentation_image_h\/0e906eac7e70c606a60244afaf7ef365\/image-7.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":1087,"url":"https:\/\/support.centreforelites.com\/en\/an-overview-of-markets-and-target-market\/","url_meta":{"origin":1091,"position":3},"title":"AN OVERVIEW OF MARKETS AND TARGET MARKET","author":"centreforelites","date":"April 10, 2022","format":false,"excerpt":"Markets are collections of people or organizations with (a) needs to satisfy (b) money to spend, and (c) the willingness to spend it. You should however understand that, within a total market, there is usually some differences among the buyers. For instance, not all consumers who own cars want to\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/support.centreforelites.com\/en\/category\/marketing\/"},"img":{"alt_text":"AN OVERVIEW OF MARKETS AND TARGET MARKET","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-16904985.jpeg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-16904985.jpeg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-16904985.jpeg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-16904985.jpeg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-16904985.jpeg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-16904985.jpeg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":1089,"url":"https:\/\/support.centreforelites.com\/en\/the-strategic-marketing-planning-process\/","url_meta":{"origin":1091,"position":4},"title":"THE STRATEGIC MARKETING PLANNING PROCESS","author":"centreforelites","date":"April 10, 2022","format":false,"excerpt":"Strategic marketing planning is a five-step process that assesses current performance; establishes specific marketing objectives; determines positioning and differential advantage; selects target markets and measures market demand, and designs a strategic marketing mix.\u00a0 With the plans in place, the marketing programmes are implemented, while the results are monitored. If the\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/support.centreforelites.com\/en\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1086,"url":"https:\/\/support.centreforelites.com\/en\/segmenting-the-consumer-market\/","url_meta":{"origin":1091,"position":5},"title":"SEGMENTING THE CONSUMER MARKET","author":"centreforelites","date":"April 10, 2022","format":false,"excerpt":"\u00a0There is no single way to segment a consumer market. A marketer has to try different segmentation variables, singly and in combination, hoping to find an insightful way to view the market structure. In this section, we shall examine the major geographic, demographic, psychographic and behaviouristic variables used in segmenting\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/support.centreforelites.com\/en\/category\/marketing\/"},"img":{"alt_text":"SEGMENTING THE CONSUMER MARKET - traditional family cycle","src":"https:\/\/i0.wp.com\/www.researchgate.net\/profile\/Karola-Dillenburger\/publication\/271260900\/figure\/fig1\/AS%3A614187227181075%401523445054487\/Family-life-cycle-stages.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.researchgate.net\/profile\/Karola-Dillenburger\/publication\/271260900\/figure\/fig1\/AS%3A614187227181075%401523445054487\/Family-life-cycle-stages.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.researchgate.net\/profile\/Karola-Dillenburger\/publication\/271260900\/figure\/fig1\/AS%3A614187227181075%401523445054487\/Family-life-cycle-stages.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/posts\/1091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/comments?post=1091"}],"version-history":[{"count":2,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/posts\/1091\/revisions"}],"predecessor-version":[{"id":2245,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/posts\/1091\/revisions\/2245"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/media\/2242"}],"wp:attachment":[{"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/media?parent=1091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/categories?post=1091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/tags?post=1091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}