Copy of Marketing Mix

8/3/2019 Copy of Marketing Mix

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Marketing Mix It is a set of Marketing tools that the

firm uses to pursue its marketing

objectives in the target market


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PS and C Four Ps : Product, Price, Place,

Promotion.

Four Cs: Customer Solution, Customer

Cost, Convenience, Communicatoin


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Significance of Marketing Mix Strategy Formulation Budgeting

Customer Satisfaction Segmentation Positioning Evaluation and Control

Profitability Customer Loyalty Branding


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Important Points Marketing Mix should be adjusted

according to PLC

All mix elements are interrelated

Decision on one element effectdecisions on another


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what is a product

In marketing, a product is anything that can be offered to amarket that might satisfy a want or need. However it is muchmore than just a physical object. It is the complete bundle ofbenefits or satisfactions that buyers perceive they will obtain

if they purchase the product. It is the sum of all physical,psychological, symbolic, and service attributes
http://en.wikipedia.org/wiki/Markethttp://en.wikipedia.org/wiki/Markethttp://en.wikipedia.org/wiki/Marketinghttp://en.wikipedia.org/wiki/Markethttp://en.wikipedia.org/wiki/Markethttp://en.wikipedia.org/wiki/Marketing


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Total product concept Core product

Styling

Attributes Color

Packaging

Brand name

Labelling

Instructions

Quality


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Types of Products Specialty goods

Unsought goods

Shopping products

Convenience products


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Product Lines Product lining is the marketing

strategy of offering for sale several

related products. A line can compriserelated products of various sizes, types,colours, qualities, or prices.
http://en.wikipedia.org/wiki/Marketinghttp://en.wikipedia.org/wiki/Product_%28business%29http://en.wikipedia.org/wiki/Product_%28business%29http://en.wikipedia.org/wiki/Marketing


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Line Management Line depth

Line consistency

Width of product mix.

length of product mix.


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BrandingA brand is a name, a term, a symbol or

a combination of these used to identify

the product and differentiate it fromcompetitors


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BrandingA brand is a symbolic embodiment of all

the information connected to a

company, product or service. A brandserves to create associations andexpectations among products made by

a producer. A brand often includes anexplicit logo, fonts, color schemes,symbols, which are developed to

represent implicit values, ideas, andv n r n li .
http://en.wikipedia.org/wiki/Symbolismhttp://en.wikipedia.org/wiki/Product_%28business%29http://en.wikipedia.org/wiki/Servicehttp://en.wikipedia.org/wiki/Expectationhttp://en.wikipedia.org/wiki/Producerhttp://en.wikipedia.org/wiki/Logohttp://en.wikipedia.org/wiki/Trade_dresshttp://en.wikipedia.org/wiki/Symbolhttp://en.wikipedia.org/wiki/Valueshttp://en.wikipedia.org/wiki/Ideashttp://en.wikipedia.org/wiki/Personalityhttp://en.wikipedia.org/wiki/Personalityhttp://en.wikipedia.org/wiki/Ideashttp://en.wikipedia.org/wiki/Valueshttp://en.wikipedia.org/wiki/Symbolhttp://en.wikipedia.org/wiki/Trade_dresshttp://en.wikipedia.org/wiki/Logohttp://en.wikipedia.org/wiki/Producerhttp://en.wikipedia.org/wiki/Expectationhttp://en.wikipedia.org/wiki/Servicehttp://en.wikipedia.org/wiki/Product_%28business%29http://en.wikipedia.org/wiki/Symbolism


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Branding Policies

Company name

Family branding

Individual branding

Line Branding

Co Branding


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Brand extension

The existing strong brand name can beused as a vehicle for new or modified

products; for example, after many yearsof running just one brand, Coca-Colalaunched "Diet Coke" and "Cherry

Coke";


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Cannibalism Cannibalism is a particular problem of

a "multibrand" approach, in which the

new brand takes business away from anestablished one which the organizationalso owns


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logoAlogotype (from the Greek), commonly known as a

logo, is the graphic element, symbol,and icon of a trademarkor brand,which is set in a special typeface or

arranged in a particular way. Theshapes, colors, fonts and images ofbrands usually different from others in a

similar market.
http://en.wikipedia.org/wiki/Greek_languagehttp://en.wikipedia.org/wiki/Trademarkhttp://en.wikipedia.org/wiki/Brandhttp://en.wikipedia.org/wiki/Typefacehttp://en.wikipedia.org/wiki/Typefacehttp://en.wikipedia.org/wiki/Brandhttp://en.wikipedia.org/wiki/Trademarkhttp://en.wikipedia.org/wiki/Greek_language


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Types of new products
http://en.wikipedia.org/wiki/Image:New_product_types_small.png


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The process

Idea Generation

Idea Screening

Concept Development and Testing

Business Analysis

Beta Testing and Market Testing Technical Implementation

Commercialization


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Pricing Strategies


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Pricing Strategies

Psychological Pricing

Product Line Pricing

Optional Product Pricing

Captive Product Pricing

Product Bundle Pricing Promotional Pricing

Geographical Pricing

A ll h i h ld d


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A well chosen price should dothree things:

achieve the financial goals of the firm(eg.: profitability)

fit the realities of the marketplace (willcustomers buy at that price?)

support a product's positioning and be

consistent with the other variables inthe marketing mix
http://en.wikipedia.org/wiki/Positioning_%28marketing%29http://en.wikipedia.org/wiki/Marketing_mixhttp://en.wikipedia.org/wiki/Marketing_mixhttp://en.wikipedia.org/wiki/Positioning_%28marketing%29


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Levels of Channels

that of direct contact with nointermediaries involved, as the 'zero-

level' channel. The next level, the 'one-level' channel,

features just one intermediary; in

consumer goods a retailer, for industrialgoods a distributor


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Role of Distribution system

Information

Price Stability

Promotion

Financing of Manufacturers workingcapital

Take title of goods

ac ors n uenc ng s r u on


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ac ors n uenc ng s r u ondecisions

Market characteristic

Company Characteristcs

Product charac.

Intensity of Competition


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Major Distribution Alternatives

Intensive

Selective

Exclusive

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