Discover excellence in Computer Science education at KCE in Coimbatore. Our programs blend academic rigor, industry relevance, and hands-on experience. Join us for a transformative journey in the dynamic field of Computer Science. Elevate your career with our commitment to quality education and expert faculty. Explore the best at KCE and unlock a world of opportunities in Computer Science.

1. 5 P’S OF
MARKETING
Presented by Sri Kaliswari Institute of Management Technology

2. Introduction
Marketing strategies are necessary for successful brands. And the
growth of digitalization has a huge impact on establishing online
business. However, creating strategies for the business is never
going to change. Based on business, marketing strategies differ
and there are various aspects to consider. Though, you may learn
these concepts in your master’s degree in the best MBA colleges
in Sivakasi, here you can discover the 5Ps of marketing strategies
which you can relate it to in real-time business.

3. What are the 5Ps of marketing? Why
does it matter?
The 5Ps of marketing is one of the significant techniques that helps in
creating customized marketing strategies for business. The 5Ps of
marketing are Product, Place, Price, Promotion and People. This will let
you learn and be aware of which areas of your business require
improvement, what target market, adds value and how unique your
business is compared to competitors.

4. Product
Whatever product or service satisfies the needs of customers.
As a marketer, you need to convey to the audience about the
product details and how it differs from competitors.
Therefore, while showcasing the products you have to be clear
and specific with the benefits and offerings. The query you
should ask to highlight the product is,
What is your product?
Is your product suitable for today’s market?
What is the unique selling point of business?
Does your product offer a better benefit than the rival?
Branding is necessary for the role in this segment for the
marketing mix among the different elements like packaging,
branding, design quality, features, and benefits.

5. Place
It is a significant factor to decide once you
launch your product where you need to determine the cost of goods, discounts, promotional offers and
pricing strategy. Here the marketer’s role is to set the price which reflects the value of the product and is
suitable for the business’s profit goals. Usually, the start-up business uses a penetration pricing strategy
which means setting the price at a low cost to gain market attention and attract customers who first look at
the price tags before shopping. Here, are some of the questions you may require to know.
Does the price match with the quality?
What is the price of the same product in the marketplace?
Does your product yield enough profits to continue in the market?
How do you create strategies based on the place? Promotional offers/ extra add-ons for the products.
The key point is that the best price value should benefit both the customers and the company which helps
the business to grow rapidly.

6. Price
IIt is a significant factor to decide once you launch your product where you need to determine the cost of
goods, discounts, promotional offers and pricing strategy. Here the marketer’s role is to set the price which
reflects the value of the product and is suitable for the business’s profit goals. Usually, the start-up
business uses a penetration pricing strategy which means setting the price at a low cost to gain market
attention and attract customers who first look at the price tags before shopping. Here, are some of the
questions you may require to know.
Does the price match with the quality?
What is the price of the same product in the marketplace?
Does your product yield enough profits to continue in the market?
How do you create strategies based on the place? Promotional offers/ extra add-ons for the products.
The key point is that the best price value should benefit both the customers and the company which helps
the business to grow rapidly.

7. Promotion
When you decide to do business, but your target customers
are unaware of your services or product, then your effort is
futile. These promotion tactics include advertising, sales
promotions, public relations, telemarketing and digital
marketing. The main objective of promotion activities is to
create awareness and drive the interest of customers to
persuade them to shop. The query you should be concerned
when it comes to promoting the business is,
What is the promotion strategy for your competitors?
Do your promotional messages attract customers to shop
for your product?
Which platform are you going to promote your brand on?
Offline/online.

8. People
This strategy requires individuals to complete the tasks which
are involved in the production, distribution and consumption
of the product or services. This includes employees,
customers, suppliers and business partners. This is important
for you to keep a good relationship between the company and
clients or customers. The important factors when you need to
understand your customers are demographics, geographics,
customer interest and behaviour. Along with that behaviour
keeps the right people in the right position if not, there are
high chances of negative reactions. Otherwise business may
fail to grow.
Hope, above-these 5Ps let you understand the importance of
marketing when it comes to launching a new business.

9. Website : https://skimt.edu.in/
Email Id : skimtsvk@yahoo.com
Phone No : 04562 - 232649
Facebook : https://www.facebook.com/skimtofficial
Instagram : https://www.instagram.com/skimtofficial/
Twitter : https://twitter.com/skimtofficial
Linkedin : https://www.linkedin.com/company/skimtofficial
Follow us for More Updates