Marketing Mix by Diego CHAVEZ

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Marketing Mix

Published on Mar 21, 2016

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PRESENTATION OUTLINE

Diego Chavez

Marketing 421 Prof: Piccillo

Marketing Mix

Spotify

A marketing strategy specifies a target market and a related marketing mix. It is a big picture of what a firm will do in some market.

A marketing mix—the controllable variables the company puts together to satisfy this target group.

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Word of Mouth

"Tell everyone you know"

http://innovationpov.com/spotifys-marketing-strategy-spoton/

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"The big concern of any streaming service though is the effectiveness of its search capabilities, and 15 million tracks is a lot to sift through looking for exactly what you want. But Spotify’s playlist and sharing capabilities have proven very popular in Europe, with a whole mix-tape culture that has arisen within Facebook. Apple can’t match that if it condemns you to stay inside the walls of iTunes."

http://innovationpov.com/spotifys-marketing-strategy-spoton/

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Spotify will offer an alternative for US consumers who don’t want to be locked into Apple’s iDevice world and iCloud world or have to figure out Amazon’s offerings and wade through their libraries. Spotify’s US marketing strategy is definitely “spot on!”.

http://innovationpov.com/spotifys-marketing-strategy-spoton/

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The 4 P's

What's in your Marketing Mix?

"It is useful to reduce all the variables in the marketing mix to four basic ones (THE FOUR P’S)"

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Product

the good or service for the target’s needs The Product area is concerned with developing the right “product” for the target market
Spotify's product is free music streaming, ability to share, customize playlists, discover new songs or artists.

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Place

Reaching the target. Place is concerned with all the decisions involved in getting the “right” product to the target market’s Place
A channel of distribution is any series of firms (or individuals) that participate in the flow of products from producer to final user or consumer.
Spotify's channel of distribution is the Internet/Social Media.

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Promotion- telling and selling the customer

Telling the target market or others in the channel of distribution about the “right” product.
Promotion includes personal selling, mass selling, and sales promotion. It is the marketing manager’s job to blend these methods of communication.
Spotify relies on word of mouth and shareability on social media.

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Price- making it right!

In addition to developing the right Product, Place, and Promotion, marketing managers must also set the right Price.
Spotify is FREE or $9.99 Premium membership with no advertising and more options!

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