MARKETING MIX - PowerPoint

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					MARKETING
   MIX
 DEFINETION OF MARKETING MIX
• The policies adopted by the manufacture
  to attain success in the firm is constitute
  the marketing mix.
• 7Ps – Price, Product, Promotion, Place,
  People, Process, Physical Environment
• Traditional 4Ps extended to encompass
  growth of service industry
The marketing mix principles
are controllable variables
which have to be carefully
managed and must meet the
needs of the defined target
group. All elements of the mix
are Linked and must support
each other.
            PRODUCT




PROMOTION
            4P’S      PRICE




             PLACE
             PRICE
Pricing is the only mix which generates a
turnover for the organisation. The
remaining 3p’s are the variable cost for the
organisation. It costs to produce and design
a product, it costs to distribute a product
and costs to promote it. Price must support
these elements of the mix. Pricing is
difficult and must reflect supply and
demand relationship.
   Pricing
  Strategy
Importance of:
 knowing the
    market
   elasticity
keeping an eye
   on rivals
    PROMOTION
A successful product or service
means nothing unless the
benefit of such a service can be
communicated clearly to the
target market. An organisations
promotional mix can consist of:
• Advertising
• Public relation
• Sale promotion
• Personal selling
• Direct mail
• Internet/ E-commerce
• Strategies
  to make the
  consumer
  aware of the
  existence of
  a product
  or service
• NOT just
  advertising
          PLACE
• The means by which products and
  services get from producer
  to consumer and where they can
  be accessed by the consumer
  –The more places to buy the
    product and the easier it is made
    to buy it, the better for the
    business (and consumer)
            PRODUCT
• Methods used to improve/differentiate
  the product and increase sales or target
  sales more effectively to gain
  a competitive advantage e.g.
   – Extension strategies
   – Specialised versions
   – New editions
   – Improvements – real or otherwise!
   – Changed packaging
   – Technology, etc.
The success of a market
offer will depend on how well
these ingredients are mixed
to create superior value for
the customers and
simultaneously achieve their
scale and profits objective.

				
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posted:11/5/2012
language:English
pages:14