3.marketingmixslides

7/28/2019 3.marketingmixslides

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Product Price

Place Promotion

Marketing Mix (4ps)

Slide 1

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.


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Marketing Mix (4ps)

Slide 2 Product

Product Decisions

Branding Quality Features

We must remember that Marketing is fundamentally about providing the correct bundle of

benefits to the end user, hence the saying Marketing is not about providing products or

services it is essentially about providing changing benefits to the changing needs and

demands of the customer (P.Tailor 7/00)

Benefits offered


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Marketing Mix (4ps)

Slide 3 Pricing

Pricing Strategies

Penetration

Skimming

Competition

Product Line

Bundle

Psychological

Pricing is the only mix which generates a turnoverfor the organisation. The remaining 3ps 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.


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Marketing Mix (4ps)

Slide 4 Promotion

Promotional Mix

Advertising

PublicRelations

Sales

Promotion

Personal

Selling

Direct

Mail

Internet/

E-commerce

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:


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Marketing Mix (4ps)

Slide 5 Place

Manufacturer

Consumer

Manufacturer

Retailer

Consumer

Direct Distribution Indirect Distribution


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The Marketing Process1. Understand the org.s mission & the role

mktg. plays in fulfilling that mission.

2. Set the marketing objectives.

3. Gather, analyze and interpret the org.s situation -SWOT analysis.

Strengths

Weaknesses

Opportunities Threats


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The Marketing Process . . .

4. Develop marketing strategy

target market

marketing mix

5. Implement marketing strategy.

6. Design performance measures.

7. Periodically evaluate marketing efforts and

make changes, if needed.


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Understanding the Marketplace

Core Concepts

Needs, wants, and

demands

Marketing offers:

including products,

services and experiences

Value and satisfaction

Exchange, transactions

and relationships

Markets

Need

State of felt deprivation

Example: Need food

Wants

The form of needs as

shaped by culture and the

individual

Example: Want a Big Mac Demands

Wants which are backed by

buying power


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Core Concepts

Needs, wants, and

demands

Marketing offers:

including products,




and relationships

Markets

Marketing offer

Combination of products,

services, information or

experiences that satisfy aneed or want

Offer may include services,

activities, people, places,

information or ideas


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Core Concepts

Needs, wants, and

demands

Marketing offers:

including products,




and relationships

Markets

Value

Customers form

expectations regarding

value Marketers must deliver

value to consumers

Satisfaction

A satisfied customer willbuy again and tell others

about their good experience


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Core Concepts

Needs, wants, and

demands

Marketing offers:

including products,




and relationships

Markets

Exchange

The act of obtaining a

desired object from

someone by offeringsomething in return

One exchange is not the

goal, relationships with

several exchanges are the

goal Relationships are built

through delivering value

and satisfaction


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Core Concepts

Needs, wants, and

demands

Marketing offers:

including products,




and relationships

Markets

Market

Set of actual and potential

buyers of a product

Marketers seek buyers thatare profitable

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3.marketingmixslides