Meaning of Marketing Mix 1Elements of Marketing Mix 2Factors Influencing Marketing Mix 3Rural Marketing Mix strategies 4Other Important Strategies 5Communication and Promotion inRural Markets. 10Bibliography 13Index
Meaning of Marketing Mix According to William Stanton “Marketing mix is the term usedto describe the combination of four inputs which constitutesthe core of any company’s marketing system i.e. Product,Price, Promotion, Distribution system. According to Phillip Kotler “marketing mix is the mixture ofcontrollable marketing variable that the firm use to persue thesought level of sales in the target market. Thus from the above definitions we can make out that the fourbasic elements which are also known as 4 P’s ie place,promotion, pricing and product is used in a fair combinationfor attracting consumers and sales is known as marketing mix.1
Elements of Marketing Mix (4 P’s)There are 4 basic elements of Marketing Mix which are: Product Price Promotion Place2
Factors Influencing Marketing Mix Behavior of Consumer Trade Factor Market Competition Behavior of the Government3
Other Important Strategies Customer Value StrategyA: Mass Product StrategyB: Premium Product Strategies Innovation StrategiesA: Rural Urban CommonB: Special for Rural Quality StrategiesA: Quality Improvement StrategiesB: Spurious Goods Strategies Packaging StrategiesA: Small PacksB: Combi-PacksC: See Through Packs 5 55
Product Management in Rural Markets Pricing Strategies Rural Pricing Objectives:A: Deeper Penetration of MarketB: Long Run Profit OrganizationC:Recover Profits through Distribution CostD: Competitive PricingE: Increase Sale Volume and Market Share6
Price in Marketing Mix for Rural Consumer Quality Conscious CustomerA: 6 Proposition applicable for Rural and Urban Market1: Quality Difference2: Quality Uncertainty3: Price Consciousness4: Need Compulsion5: Place Availability6: Social ConsciousnessB: Pricing Method:1: Discriminatory Pricing2: Perceived Value Pricing3: Psychological Pricing7
Pricing for Value Conscious Customer:Some Customers are willing to pay for the product of their choice as long asthey get “Valor for Money”. The Recent shifts in the demand show such typesof preference of customers. Pricing Method:1: Skimming Pricing2: Penetration Pricing3: Value Pricing4: Psychological Pricing Pricing for Price Conscious Customer:Price Conscious Customer are the weaker section of society who can affordless and hence they look for special offers to meet their need a very smartstrategy is needed to deal with such people like the Mini Packing Strategy etc.8
General Pricing in Rural Market Value for Money Low Cost/Cheap Products Refills/Reusable Packaging Application of Value Engineering9
Communication & Promotion in RuralMarketsToday India has a bulk of people living in villages so it becomes impossiblefor a Company to earn in huge quantity without making these people itscustomer, Hence communicating with these people and promoting Goods &Services in rural areas becomes very important .Now we will see how itsdone. Awareness Selecting proper Media Mix Giving Advertisement in Radio, Television, Cinema, Outdoor Banners,Newspapers and Magazine etc. Involving Informal/Rural Specific Media which contains House to HouseCampaign, Music Records, AV Vans, Interpersonal Media, Wall Paintingsetc. Use of Logos/Symbols & Identifying the needs of people and providingservices according to it. Use of Information Technology Internet Marketing Physical Distribution 10
Bibliography Vipul’s BMS Series “Co-Operatives & Rural Market” By Romeo S.Mascarenhas www.google.com www.wikipidia.com11
AcknowledgementI am very Thankful to Prof. Vijay Kapoor for giving mean opportunity to present on such an important Topicand helping me in improving the presentation.12
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