###The Marketing Mix - PowerPoint Presentation - Full
version###
BPH 4018: Pharmaceutical Marketing and SalesCourse
Instructor:Md. HasanuzzamanM.Pharm (DU), MBA (IBA)Business Unit
HeadRoche Bangladesh [email protected]
Marketing mix-4pMd: Shariful Islam South east university
E-mail:[email protected]
The New Marketing MixThe tools available to a business to gain
the reaction it is seeking from its target market in relation to
its marketing objectives7Ps Price, Product, Promotion, Place,
People, Process, Physical EnvironmentTraditional 4Ps extended to
cope with today's changing environment
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The Marketing Mix
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Product
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ProductThe firm must come up with a product or service that
people will want to buy.
It must fulfil some needor want.
It must be (or at least seem) unique.
ProductMethods used to improve/differentiate the product and
increase sales or target sales more effectively to gain a
competitive advantage e.g.Extension strategiesSpecialised
versionsNew editionsImprovements real or otherwise!Changed
packagingTechnology, etc.
Image copyright: www.freeimages.co.uk
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Product or service or brandCore Product Actual Product Augmented
Product BMWFreedom to travelA motor carSheratonRoomsRoom
serviceEgypt Air FlightAn airline journeyZamalek Football
ClubExcitement and leisureT-shirts photos with
playersALICOInsurance policyFinanceUNIONAIRCoolingWarranty
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Price
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PricePricing Strategy - InternationalComparativeCost plus
The price must be one that the customer thinks is good value for
money.This is not the same as being cheap!Prices have a great
psychological effect on customers.
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PricePricing StrategyImportance of:knowing the
marketelasticitykeeping an eye on rivalsImage copyright:
www.freeimages.co.uk
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Promotion
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PromotionStrategies to make the consumer aware of the existence
of a product or serviceNOT just advertising
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The promotional message shouldGrab Attention
Stimulate Interest
Create Desire
Promote Action
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Place
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PlaceThe means by which products and services get from producer
to consumer and where they can be accessed by the consumerThe more
places to buy the product and the easier it is made to buy it, the
better for the business (and the consumer?)
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People
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PeoplePeople represent the businessThe image they present can be
importantFirst contact often human what is the lasting image they
provide to the customer?Extent of training and knowledge of the
product/service concernedDo staff represent the desired culture of
the business?
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PeoplePeople represent the businessThe image they present can be
importantFirst contact often human what is the lasting image they
provide to the customer?Extent of training and knowledge of the
product/service concernedMission statement how relevant?Do staff
represent the desired culture of the business?
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PeoplePeople represent the businessThe image they present can be
importantFirst contact often human what is the lasting image they
provide to the customer?Extent of training and knowledge of the
product/service concernedMission statement how relevant?Do staff
represent the desired culture of the business?
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Process
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ProcessHow do people consume services?What processes do they
have to go through to acquire the services?Where do they find the
availability of the
service?ContactRemindersRegistrationSubscriptionForm fillingDegree
of technology
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Physical Environment
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Physical EnvironmentThe ambience, mood or physical presentation
of the environmentPackaging. Internet/web pages. Paperwork (such as
invoices, tickets,..). Brochures. Furnishings. Uniforms. Business
cards. The building itself (such as prestigious offices or scenic
headquarters). Mailboxes and many others . . . . . .
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Physical EnvironmentThe ambience, mood or physical presentation
of the environmentSmart/shabby?Trendy/retro/modern/old
fashioned?Light/dark/bright/subdued?Romantic/chic/loud?Clean/dirty/unkempt/neat?Music?Smell?
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Stages in Consumer Decision
ProcessAwarenessInterestDecisionSatisfaction
Action
AdvertisingChannelProduct /ServicePrice
Word-of- Mouth
The Marketing MixBlend of the mix depends upon:Marketing
objectivesType of productTarget marketMarket structureRivals
behaviourGlobal issues culture/religion, etc.Marketing
positionProduct portfolioProduct lifecycleBoston Matrix
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Marketing ModelTarget Market
Aware
Understand
Believe
Want
Find
Buy
Use
PreferCostRevenueValueExperiencePoint of PurchaseAbove the
Line
LoyalBelow the LineIntention to Purchase
Behavior
Developing Competitive Advantage
Competitive Advantage
Customer ValueCustomer RelationshipsCustomer
SatisfactionCreateBuildMaintain
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Value and Satisfaction
ExpectationPerformance
810
If performance is lower than expectations, satisfaction is
low.If performance is higher than expectations, satisfaction is
high.
ExpectationPerformance108
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Thank you
