Examples Of Extended Marketing Mix

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Introduction The research paper is divided into two parts that individually aims to evaluate the marketing principles especially in regards of extended marketing mix. It further analyse extended marketing mix in regards of Halifax so is to understand the working of marketing principles within service sector and more prominently in banking sector. Task 3 Extended Marketing Mix Marketing mix comprises of four different factors that respectively evaluate marketing principles however, with the increasing trends of services companies adopt innovative marketing campaign, marketing mix now incorporate three other factors that further help service sector to increase the worth of their marketing strategies (Chikweche & Fletcher, 2012). Product The product…show more content…
Promotions allude to the marketing communication utilised for spreading information about the organisation and its product and service. Promotions does not intend to increase awareness about the product however to spread word about the advantages of the product and services of the organisation. The Promotions component of the marketing mix likewise incorporates the cost of the media and advertising. Promotions and advertising should be creative and innovative so is to attract consumers towards the company or the consumers of the product or services would lose their interest in that particular product. Promotions exercises of a product ought to change after a particular interim of time with a specific end goal to keep them working (Barrett & Weinstein,…show more content…
Some studies observe it as a way to achieve desired targets. However, it is about client boundary amongst the organisation and buyer and the way they manage one another in a progression of ventures in stages that include its procedure (Leonidou, et al., 2013). Task 4 Extended Marketing Mix of Halifax Halifax is a banking chain working in the UK and Scotland as a subsidiary of Lloyds Banking Group. It is one of the UK’s largest financial service providers’ especially in regards of mortgages and saving accounts for local residence. However, in the competitive market, it is also important for organisations within banking and financial services to focus on marketing mix so is increase the knowledge of consumers in regards the services that the bank offers (Auer & Schoenle, 2012). Products As related to banking sector, the potential services by Halifax include, 1) Deposits – Savings, Current, Fixed and others 2) Loans – Term Loan, Bills Discounting, Pre-shipment Finance, Post-shipment finance, Secured lines of
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