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Presenting the 7P’S Of Marketing
(Marketing mix)
By- Saifuddin Lala 9426786383
Marketing mix The Marketing mix is one of two
interrelated components of strategy.
MARKETING MIX means-The set of controllable tactical marketing tools.
Product,Price,Place and Promotion – that the firm blends to produce the response it wants in the target market.
History The term marketing mix was coined in an article
written by Neil Borden called “The Concept of the Marketing Mix.”
He started teaching the term after he learned about it from an associate, James Culliton, who in 1948 described the role of the marketing manager as a "mixer of ingredients"; one who sometimes follows recipes prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe from immediately available ingredients, and at other times invents new ingredients no one else has tried.
ProductPricePlacePromotionProcessPhysical appearancePeople
PRODUCT It must provide value to a customer but
does not have to be tangible at the same time.
Basically, it involves introducing new products or improvising the existing products.
EXAMPLE- COCA COLA
History Of Coca Cola In India, Coca-Cola was the leading soft-
drink till 1977 when the government policies necessitated its departure.
Coca-Cola made its return to the country in 1993 and made significant investments to ensure that the beverage is available to more and more people, even in the remote and inaccessible parts of the nation.
Customer’s requirement
Product should have following characters:1)Design2)Technology3)Usefulness4)Value5)Quality6)Packaging7)Branding8)Warranties9)Convinence
ExampleCOCA-COLA IS THE MOST POPULAR AND
HIGHEST-SELLING SOFT DRINK IN HISTORY, AS WELL AS THE BEST-KNOWN PRODUCT IN THE WORLD.
PRICE STRATEGIES Pricing should take into account the
following factors: Fixed and Variable cost. Competition Company Objectives Proposed positioning strategies Target group and Willingness to pay
PRICE
To make the product affordable to the target market and reflect the value of benefits provided.
PLACETo make the product conveniently
available to the target market consistent with there purchasing pattern.
Place Strategies Refers to how an organization will
distribute the product or service they are offering to the end user.
What channel of distribution will they use? Two types of channel distribution
methods. Indirect Distribution-From manufacturer to
Wholesaler to Retailer to consumer. Direct Distribution-From manufacturer to
Consumer.(no intermediaters)
Promotion
To build and improve consumer demand. Promotion has 4 components called the promotion mix as follows:
1)Advertising-To effectively inform and persuade the target market.
2)Public relations-To offer a positive image of a company and brand.
3)Selling-To get customers buy.4)Sales promotion-To convince customers to buy immediately.
Promotion
PROCESS Processes are important to deliver a
quality service. Services being intangible, processes
become all the more crucial to ensure standards are met with.
Process mapping ensures that your service is perceived as being dependable by your target segment.
PROCESSThe process of the product is essential in
marketing. This determines the capability of the product to supply demand of the customers.
Physical AppearancePhysical appearance is the first
distinction of a product. A product could be easily recognized by it’s appearance.
VOLUME/SIZES Coca-Cola bottles come in a vast type of sizes and volumes, depending on the
country where it come from.The most common sizes and volumes are:
Standard Size: 185 ml, 190 ml, 192 ml; King Size: 285 ml, 290 ml, 300 ml; Family Size: 750 ml, 760 ml, 770 ml; Liter Size: 1000 ml (1 Liter)
SHAPES There are some shapes for Coca-Cola
bottles: Hutchinson style; Straight sided; Hobble skirt
LABELS The most common types of labels found
in Coca-Cola bottles are: Embossed White Applied Color Label (White ACL) Red Applied Color Label (Red ACL) Paper Styrofoam
People They are the target consumers of the
company. They are the ones who are the consumers.
The Marketing Mix Blend of the mix depends upon: Marketing objectives Type of product Target market Market structure Rivals’ behaviour Global issues – culture/religion, etc. Marketing position Product portfolio
Product lifecycle Boston Matrix
THANK YOU
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