marketing mix

Certification Program on written business communication and social media marketing skills.
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Lal
Posts: 121
Joined: Mon Nov 17, 2014 5:09 pm

Re: marketing mix

#1 Postby Lal » Thu Mar 19, 2015 9:28 am

Marketing mix is the combination of 4Ps and they are Product, Price, Place & Promotion. In this mix all Ps plays important role and we can not negate any of them. Product is what you are selling, price is the numeric value of the product, place is where you are selling the product through what channel and last one in itself is a mix of different factors like advertisement, sales promotion etc.

A successful marketer pays equal attention to all these 4 factors.

saketroy2
Posts: 175
Joined: Mon May 26, 2014 11:23 am

Re: marketing mix

#2 Postby saketroy2 » Wed Mar 18, 2015 9:59 am

besides these, since services became a changing factor, 3 more P's are introduced as :

1. People- Who is selling makes the impact. Ads featuring movie or cricket stars.

2. Process -How are services consumed ?

3. Physical Appearance- Ambiance, layout design of the store or service location. Comfort, facilities n all..

prateekims
Posts: 1
Joined: Mon Feb 09, 2015 4:46 pm

marketing mix

#3 Postby prateekims » Tue Mar 03, 2015 5:39 pm

The 4Ps are:
Product.
Place.
Price.
Promotion.

1.)product-
a.What does the customer want from the product/service? What needs does it satisfy?
b.What features does it have to meet these needs?
c.Are there any features you've missed out?
d.Are you including costly features that the customer won't actually use?
e.How and where will the customer use it?
f.What does it look like? How will customers experience it?
g.What size(s), color(s), and so on, should it be?
h.What is it to be called?
i.How is it branded?
2.)place-
a.Where do buyers look for your product or service?
b.If they look in a store, what kind? A specialist boutique or in a supermarket, or both? Or online? Or direct, via a catalogue?
c.How can you access the right distribution channels?
d.Do you need to use a sales force? Or attend trade fairs? Or make online submissions? Or send samples to catalogue companies?
e.What do you competitors do, and how can you learn from that and/or differentiate?
3.)price-
a.What is the value of the product or service to the buyer?
b.Are there established price points for products or services in this area?
c.Is the customer price sensitive? Will a small decrease in price gain you extra market share? Or will a small increase be indiscernible, and so gain you extra profit margin?
d.What discounts should be offered to trade customers, or to other specific segments of your market?
e.How will your price compare with your competitors?
4.)promotion-
a.Where and when can you get across your marketing messages to your target market?
b.Will you reach your audience by advertising in the press, or on TV, or radio, or on billboards? By using direct marketing mailshot? Through PR? On the Internet?
c.When is the best time to promote? Is there seasonality in the market? Are there any wider environmental issues that suggest or dictate the timing of your market d.launch, or the timing of subsequent promotions?
e.How do your competitors do their promotions? And how does that influence your choice of promotional activity?


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