Extended Marketing Mix

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The mearketing mix explained, including the additional Service Mix elements

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    hanks for sharing this brilliant data....very usefull for my hnc course.
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  • Hi Steve

    Thanks for sharing the slides ~ I've added them to my group Training 'Powerpoint Resources'.
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Extended Marketing Mix

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

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