Marketing Mix What is Marketing Marketing is the process of discovering and translating consumer wants into products and services and then in turn making it possible for them to enjoy the produc

							Marketing Mix
What is Marketing?
Marketing is the process of discovering and translating
consumer wants into products and services and then
in turn making it possible for them to enjoy the
products and services
                Discovering consumer
                       wants



             Translating into products and
                        services




                Customer Satisfaction
Marketing involves finding out
what your customers want and
supplying it to them at a profit
Marketing v/s Selling
   Focuses on                 Focuses on seller’s
    consumer’s needs            needs.
   Consumer enjoys            Product enjoys supreme
    supreme importance          importance
   Product planning and       High pressure selling to
    development to match        sell goods already
    products with markets       produced.
   Converting consumer        Converting products
    needs into products         into cash
   Cavet Vendor (let the      Cavet emptro (let the
    seller beware)              buyer beware)
        Marketing v/s Selling
                    Focus        Means         Objectives

 Selling                      Selling and      Profits through sales
 concept         Products
                              promotion        volume




Marketing       Consumers’      Integrated      Profits through
concept         needs           Marketing       consumer satisfaction


 The marketing concept calls for goal-oriented approach.
 The objective is to earn profits through customer satisfaction.
What is Marketing Planning?

 Marketing planning is to inject the philosophy
 of consumer orientation into the total
 business system and serves as a guide to the
 organisations’ efforts.
    What is Marketing Mix?
   It is the combination of four inputs which
    constitute the core of a company’s marketing
    system:
       product,
       price structure,
       promotional activities
       distribution system




                                 www.learnmarketing.net/marketingmix.htm
Purpose of Marketing Mix
The purpose of marketing mix is to
 satisfy the needs and wants of the
 customers in most effective and
 economical manner
Elements of Marketing Mix
Lets explore Marketing Mix
Problem
   Some fast moving consumer good
    (FMCG) are experiencing a decline in
    the demand and thus losing their
    market share
Your Project
   Select one Fast Moving Consumer Goods
    (FMCG) facing decline in the demand
   As a market researchers, conduct a case
    study of each aspect – price, place,
    promotion and product itself
   Prepare revival strategy multimedia
    presentation of the product for the board of
    directors
A Big Question
 What is the right marketing mix
 for your product?
Some questions to explore
   How can we determine a right
    marketing mix?
   What are the factors that affect the
    choice of the channel of distribution?
   What influences the price of a
    commodity?
   In what ways can surveys help us to
    make business decisions?
Project Scenario
   Stages
      Select one FMGC product facing decline in the demand

      Conduct survey for studying the trend of market

      Analyse the results and draw inferences

      Use online thinking tools for studying elements of marketing
       mix of your products in detail
      Suggest revival strategy for your product

          Your distribution channel. Picture it with diagrams.

          Your pricing strategy. Indicate the price you will choose.

          Your advertising program

          Your plan to improve the product considering the
           customer’s demand
      Create revival strategy presentation for board of directors
Remember
   To work in teams
   To note down your learning in journal
   To refer to the marketing mantra score
    sheet for self evaluation
Go ahead and master the
Marketing Mantra


      All the best
References
   http://www.freeworldacademy.com/ne
    wbizzadviser/fw15.htm#8