N5 – Marketing – Changing Elements of the Marketing Mix

Product
– Introduce new varieties of the existing product.
– Introduce a new product range.
– Introduce new shaped/sizes of product.
– Improve the appearance of the product.
Price
– Reduce/Lower the price (or increase it)
– Introduce promotional pricing (10% off for a short time)
– Keep prices in line with competitors.
Promotion
– Increase advertising e.g advertise on pop-ups online.
– Introduce promotional offers e.g BOGOFs, 3 for 2
– Offer free samples/money off coupons (in magazines)
– Let customers sample the product before buying it.
Place
– Introduce internet selling/e-commerce.
– Sell in different shop, through magazines/TV.