Extended Marketing Mix
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Extended Marketing Mix

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The mearketing mix explained, including the additional Service Mix elements

The mearketing mix explained, including the additional Service Mix elements

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  • 1. The Extended Marketing Mix
  • 2. Objectives of this session:
    • What is the ‘Marketing Mix’?
    • What is the difference between the traditional 4 Ps and the ‘Service Mix’?
    • What are the range of decisions to be made for each of the marketing Ps?
    • What is meant by an integrated or co-ordinated marketing mix?
  • 3. Marketing Mix: The Four Ps
    • The Four Ps are controllable variables
    • Should be tailored to needs of defined Target Group
    • All four Ps are linked and should support each other
    Product Price Place Promotion
  • 4. Four P’s: The Product Product Decisions Branding Quality Features
    • Customer Value = the ‘bundle of benefits’ delivered to the customer
    • Need to change benefits as customers’ needs change
    Benefits offered
  • 5. The Four Ps: Pricing Pricing Strategies Penetration Skimming Competition Product Line Bundle Psychological
    • Only ‘Price’ generates income
    • Price must support costs of all other Ps
    • Price also must reflect the relationship of supply and demand within the marketplace
    • Price = Cost the customer is prepared to pay
  • 6. The Four Ps: Promotion Promotional Mix Advertising Public Relations Sales Promotion Personal Selling Direct Marketing Internet/ E-commerce
    • The task of Promotion is to target customers and Communicate with them
    • An integrated mix of promotional techniques should reach customers by all available channels
  • 7. The Four Ps: Place Manufacturer Consumer Manufacturer Retailer Consumer Direct Distribution Indirect Distribution
    • The task of Place is deliver the Product to the customer at the right Price
    • There are many options of channel design
    • Channel design should take into account Cost and Convenience for the customer
    Manufacturer Franchisee Consumer
  • 8. Marketing Mix: The Service Ps
    • Product
    • Price
    • Place
    • Promotion
    • People
    • Physical Evidence
    • Processes
  • 9. People Decisions The Service Ps: People Service & Quality Relationship Marketing Marketing Training Internal Marketing
    • The most cost-effective means of differentiating yourself from the competition is the degree of customer focus, competence and efficiency of the People the organisation employs
    • Customers experience this as the degree of Care and Concern they receive from the organisation
  • 10. The Service Ps: Processes
    • All Processes are concerned with the consistent creation and delivery of Customer Value
    • The Customer’s experience is affected directly at those points at which s/he interacts with the Organisation
    • Processes should be continuously reviewed and co-ordinated to improve the customer experience and demonstrate Customer Consideration
    Process Decisions Enquiry / Info Search Point of Purchase Delivery After Sales
  • 11. The Service Ps: Physical Evidence Physical Evidence Evidence of Ownership Environment of PoP Product Design Packaging Corporate Identity
    • Provides Physical Evidence of delivered Quality
    • Should be consistent through entire customer experience
    • Especially important where customer is purchasing an intangible (service)
    • Provides Confirmation of Customers’ expectations
  • 12. In Conclusion The 7 Ps The 7 Cs < Organisation Facing Customer Facing > Product = Customer Value Price = Cost Place = Convenience Promotion = Communication People = Caring Processes = Co-ordinated Physical Evidence = Confirmation