UIC resident guide to using web-based New Innovation to complete evaluations and log hours from new innovation resident evaluation Watch Video

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Marketing mix<br/>Marketing mix, often referred to as the 7Ps, is a fundamental concept in marketing that represents a set of tools and tactics used by businesses to promote and sell their products or services. The 7Ps stand for Product, Price, Place, Promotion, People, Process and Physical Evidence.<br/>Here's an overview of each component:<br/>Product:<br/>This refers to the physical product or service that a company offers to meet the needs and wants of its customers. It involves product design, quality, features, branding, and packaging. Understanding the product life cycle is also crucial in this context.<br/>Example:<br/>The iPhone is a line of smartphones designed and marketed by Apple Inc. It is known for its sleek design, advanced features, and integration with the Apple ecosystem. The product includes hardware specifications, software (iOS), and additional features such as the App Store and iCloud.<br/>Price:<br/>Price represents the amount of money customers are willing to pay for a product or service. Pricing strategies can vary, including penetration pricing, skimming pricing, discount pricing, and value-based pricing. Pricing decisions often consider factors such as production costs, competitor pricing, and perceived value.<br/>Example:<br/>Apple adopts a premium pricing strategy for the iPhone. Despite the higher cost compared to some competitors, the brand's reputation for quality and innovation justifies the price point. Apple often introduces new models at different price levels to cater to various customer segments.<br/>Place (Distribution):<br/>Place refers to the channels and methods used to make the product or service available to the target customers. Distribution channels can include direct sales, retail, e-commerce, wholesalers, and more. Effective distribution ensures that the product is available at the right place and time.<br/>Example:<br/>iPhones are available through various distribution channels, including Apple's own retail stores, authorized resellers, and telecommunications carriers. Apple's direct-to-consumer approach through its online and physical stores emphasizes the importance of customer experience in the purchase process.<br/>Promotion:<br/>Promotion involves the marketing and communication strategies used to create awareness and persuade customers to purchase a product or service. This includes advertising, public relations, sales promotions, personal selling, and digital marketing. The goal is to create a strong brand image and communicate the value of the product to the target audience.<br/>Example:<br/>Apple employs a mix of advertising, public relations, and digital marketing to promote the iPhone. High-quality and visually appealing advertisements showcase the product's features and highlight its unique selling points. Apple also relies on a strong brand image, product launches, and events to generate buzz and anticipation.
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On Monday 15 April in Rimini, in the heart of the Motor Valley, Maserati brings together the press and industry insiders for the long-awaited Folgore Day.The event is taking place on the 110th anniversary of the Modena-based manufacturer: the Trident’s narrative is rich in commercial and racing successes – these have included the creation of some of the most iconic cars in the history of international motoring and many wins in high-level motorsport. Folgore Day officially marks the brand’s entry into the new electric dimension, where the Folgore range is ready to dominate and represent the Brand’s future around the world.<br/><br/>A journey of electrification, innovation, luxury and excellence in the best Italian tradition, on which Maserati has embarked in the last year with the launch of its 100% electric models: GranTurismo Folgore, the Trident’s first all-electric car; Grecale Folgore, the first SUV powered by a full-electric powertrain; and now, GranCabrio Folgore, the elegant and refined open-top version of its award-winning grand tourer sister, to be launched at the event. On top of these, the MC20 Folgore super sports car, set to debut in 2025.<br/><br/>By 2028, the entire Trident range will have been fully electrified, as announced by Maserati in early 2024 when it shared its long-term strategic vision, including a growth plan aimed at sustainable profitability further into the future, with the focus on the constant evolution of the brand and its products. In this scenario, the Trident range continues to be entirely designed, developed, and produced in Italy, with Modena and the historic plant on Viale Ciro Menotti remaining the crux of this challenging new era of mobility.
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