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The marketing mix is a device used by a marketer which breaks down into four separate parts: product, price, place, and promotion, also referred to as the four P’s of marketing. Older marketers have formed the opinion that this mentality should be based on other factors. Experts today feel other important P’s that have been overlooked, or intentionally ignored, such as politics and public opinion. Product is the first P in the marketing mix. A product is any physical good, service or idea that satisfies a want or need. Because the term “product” is somewhat vast in its definition, marketers dissect the meaning into a smaller unit known as a commodity. A commodity is a product with subtle differences. These differences can range from physical to geographical. One example is Pepsi cola which has several different beverages with different flavors but are all part of Pepsi cola. Pepsi-Cola North America is headquartered in Purchase, N.Y. As the refreshment beverage unit of PepsiCo Beverages and Foods North America, a division of PepsiCo, Inc. PepsiCo Beverages and Foods North America, it also comprises PepsiCo's Tropicana, Gatorade and Quaker Foods businesses in the United States and Canada. http://www.pepsico.com/SearchResults.html?query=marketing+strategy Pepsi-Cola North America's carbonated soft drinks, including: Pepsi, Diet Pepsi, Pepsi Twist, Mountain Dew, Mountain Dew Code Red, Sierra Mist, and Mug Root Beer account for nearly one-third of total soft drink sales in the United States. Pepsi-Cola North America's non-carbonated beverage portfolio includes Aquafina, which is the number one brand of bottled water in the United States, Dole single-serve juices and SoBe, which offers a wide range of drinks with herbal ingredients. The company also makes and markets North America's best-selling, ready-to-drink iced teas and coffees via joint ventures with Lipton and Starbucks, respectively. PepsiCo, Inc. is one of the world's largest food and beverage companies. The company's principal businesses include: FritoLay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices, and Quaker Foods. PepsiCo, Inc. was founded in 1965 through the merger of Pepsi-Cola and FritoLay. Tropicana was acquired in 1998. In 2001, PepsiCo merged with the Quaker Oats Company, creating the world’s fifth-largest food and beverage company. In 1963, the Pepsi-Cola Company introduced its first diet drink - Diet Patio Cola. At the time, Pepsi could not afford to properly promote Diet Patio Cola. To remedy this situation, in 1964, they decided to rename their diet drink "Diet Pepsi." This made Pepsi-Cola the first company to name a diet drink after their flagship brand. The initial advertising of Diet Pepsi was combined with Pepsi advertising. The slogan was "Pepsi Either Way." Over the years, Diet Pepsi has developed into a major brand, able to stand alone. One of the interesting aspects of Diet Pepsi is the number of changes made to the product and packaging. There have been a number of reformulations, including the elimination of
In May of this year. schools.59 for a 2 liter bottle. a company could also employ value-based pricing. Pepsi competition is anything else that a person can drink. I think the market for Pepsi is an elastic market. One example of this would be cost-based pricing. The best example of direct selling would be Directv service in their early years. Value-based pricing is a hypothesis of the maximum amount of money a person will spend on a product and then pricing the item below that figure to make the item more appealing. office buildings. Directv has expanded into Best Buy. Both pricing techniques take into account the supply and demand for an item. etc. he or she had to call the company direct. a person did not have the option of walking into their store and seeing the many options available. There have been eight major packaging redesigns and many other minor redesigns. even though people love it. A retailer would be the average department store. but not excluded to. drug stores.pepsicolacollectorsclub. All other . If a person wanted to purchase one of their programming packages. This is refereed to as place or distribution. competitors pricing on a like item and the demand for the product. churches. These stores carry a wide-range of items from several manufacturers. Pepsi ranges in price anywhere from 89 cents to $1. the use of saccharin. Pepsi has to compete against the healthier drinks. but you are still purchasing the service directly from Directv. the product being offered.com/news. Companies have a variety of methods to reach the most competitive price for their product. the final step is to promote the product. You will find it in grocery stores. http://www. If the price rises to high people you have some people that will switch to Coke or some other brand of cola. Cost-based pricing is simply adding a markup to the cost of the item. When you walk into one of these stores you can usually see “like” items made by different companies.html Price is the next ingredient in the marketing mix. Now. The price of a product depends on several factors including. How and where will your products be sold? Companies chose to sell a product directly to customer or use a retailer/wholesaler to distribute their product.Marketing Mix 2 cyclamates. gas stations. Before there was a Directv retailer in every city. Department stores usually radios made by different companies like Pioneer and Sony. a price has been determined. and the introduction of NutraSweet. Pepsi price at this point is comparable with its competitors. But most of the time you can find Pepsi somewhere on sale for 99 cents. Now that a need has been found. Radios would be a good example to illustrate this point. Pepsi unveiled their latest redesign of Diet Pepsi packaging. and a means for distribution has been established.69 that makes the people purchase it more. The fact that Pepsi keeps it price for 2 liter bottles most of the time to $1. the next step in the marketing mix is deciding where to market the product. Once a product need is uncovered and a price is determined. On the other hand.
low fat meal replacement bars.Marketing Mix 3 factors considered. I think that the Pepsi commercials are still pushing towards the younger crowds. and young adults. I think that if Pepsi can’t get the older crowd to purchase their soft drink then go ahead and offer them something else that they may have more of an interest in. I would try to implement some type of healthy snack food line.com/hub/PepsiBrand-Review . ads are directed at a very specific audience. and chips. Brand loyalty is what has hindered Pepsi from appealing these potential customers. As I stated earlier. A product. Some companies use advertising to promote their product while others may advertise their products as a public service. It would include foods like great tasting rice cakes. Pepsi markets Gatorade/PowerAde as a product that anyone can drink. but I think Pepsi mainly promote this product to the younger crowd more so than the older generation. Most of the commercials that I see and hear from Pepsi are that their spokesperson is relatively a person in that age bracket that I mention earlier. the product is preferred among a great percentage of people that drink soft drinks. I also believe that this is a good marketing strategy. snacks. which no one has heard about. This will enable them to outgrow Coca Cola in the future. low calorie popcorn. Now Pepsi already has a snack line under the brand name of Frito Lay and that’s mainly marketed toward the little kids. advertising is probably the most important aspect of the marketing mix. I remember Pepsi Generation X commercials. They should have things like how drinking Pepsi doesn’t affect my health or they should say something like “every now and then I need a cold Pepsi to satisfy my thirst” or show senior sitting at a bingo table with a can of Pepsi next to them. Pepsi has done a good job of meeting the needs of its customers. As stated earlier. is not making a company any money. and have well defined goals. So overall I think that Pepsi is doing a pretty good job selling its products. etc. Companies spend millions of dollars a year on advertising. I think if they are trying to reach an older group of people they should have an older person be the spokesperson. Based on my examination of Pepsi marketing mix. Contrary to popular belief. Coca Cola has been around forever. Advertising is a very intricate process. and anyone can find the Pepsi soft drink anywhere. I believe that Pepsi targeted audience is the Generation X. teenagers. from ages 16 – 35. One thing that I would change in regards to trying to reach that older generation that are devout Coke drinkers is my content in my TV commercials and radio announcements. the price is comparable to other soft drinks. Pepsi realized that some people are just loyal to what they like. Once the younger crowd becomes the older crowd. then Pepsi will be the front runner and now have brand loyalty from its customers. I think that these subliminal messages will allow them to gain more of that older generation. and the older generation is known to stick to what they know and like. so they are marketing to the younger crowd. hubpages.
Pepsi Stuff offers consumers a way to collect codes from Pepsi products and use them to redeem prizes including music downloads. Last year. Each cap of specially marked Pepsi NFL Kickoff will feature a code worth double Pepsi Stuff points. A Pepsi rep confirmed the details of the pending launch. will be supported by TV. Its Pepsi Twist colas debuted in 2000 and were discontinued two years ago." BBDO. is Pepsi's agency. Nearly all of Pepsi's marketing dollars have been dedicated to promoting Pepsi Stuff. The new product will endorse the current Pepsi Stuff promotion. lemon-flavored soda will be available in both diet and regular until November. per Nielsen Monitor-Plus. Pepsi spent $27 million on ads during the same period last year. New York. it trotted out Pepsi Summer Mix. However. PepsiCo. The limited-time-only. . The program kicked off in January. The new entry. Pepsi is no stranger to lemon-flavored cola. Pepsi fashion apparel. PepsiCo has introduced Sierra Mist Undercover Orange (in conjunction with the movie Get Smart). 11. Pepsi is putting a familiar twist on its core brands. "Pepsi Lemon NFL Kickoff" colas will hit shelves on Aug. Most recently. two-liter and 12-pack cans. as well as Coca-Cola. a trip to the Super Bowl and others. Marketing will tout the product as "Pepsi with a kick of lemon. have shied away from full-time line extensions in favor of a less risky in-and-out strategy. Dallas Cowboys quarterback Tony Romo (who has been linked to pop singer Jessica Simpson) will make his third appearance in a Pepsi spot. which will be available nationally in 20-oz. Mountain Dew Game Fuel (tying in with Halo 3) and Sierra Mist Lemon Squeeze.Marketing Mix 4 Also. The budget behind Pepsi NFL Kickoff was not disclosed.. Pepsi is using sports figures and other new strategies in advertising. print and online ads.
Marketing Mix 5 References http://www.com/hub/Pepsi-Brand-Review .com/news.html hubpages.pepsicolacollectorsclub.com/SearchResults.pepsico.html?query=marketing+strategy http://www.
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