This document discusses marketing mix and product life cycles. It begins by defining marketing mix as the combination of four Ps - product, place, price and promotion. It then expands this to seven Ps with the addition of people, process and physical evidence. The document also discusses the different stages of a product's life cycle - introduction, growth, maturity and decline - and how sales and profits change over these stages. It concludes with assignment questions about identifying marketing objectives and strategies for each life cycle stage, strategic options for mature products, and assessing the most important, riskiest and highest profit potential stages.

2. PRAYER

3. Prepared by: JOSEPHINE BOND
Professional Education Talisay City College

4. MOTIVATION NAME THIS PERSON

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8. MARKETING MIX

9. History of Marketing Mix
• • •
The concept of
‘marketing mix’
was first
introduced by
Jerome
McCarthy in
1960.
Marketing mix is
a blend of
variables
through which a
firm carries out
its marketing
strategy.
It provides a
recipe for
effective
marketing.
Effective marketing is
based on the right
balance of marketing
elements and
processes depending
on the nature of the
product, service or
idea being marketed.
•

10. Introduction
What should be
the products /
services to be
offered?
Which areas
should be first
ventured into?
What kind of
pricing strategy
should be
followed?
How should the
new products be
marketed /
promoted to make
an impact?

11. Marketing Mix
Product Place Price
Promotio
n

12. 4 Ps
Marketing mix is the combination of four elements. They are:
Product
Place
Price
Promotion

13. Designing the Right Marketing Mix
The right blend of the marketing mix achieves the following:
Achieves marketing objectives
Meets customer needs
Is balanced and consistent
Creates a competitive advantage
Matches corporate resources

14. Simple Marketing System
Industry
(collection
of sellers)
Communication
Goods / Services
Money
Information
Market
(collection
of buyers)

15. Booms & Bithner
Booms and Bithner included three
additional 'Ps' to accommodate
trends towards a service or
knowledge based economy.
These were:
Let’s look at each in detail.
People
Process
Physical Evidence

16. People
They suggested that all people who directly or
indirectly influence the perceived value of the
product or service, including knowledge workers,
employees, management and consumers should
be taken into consideration while designing a
marketing mix.

17. Process
The ‘process’ includes the procedures,
mechanisms and flow of activities which lead to an
exchange of value.

18. Physical Evidence
The ‘physical evidence’ includes the direct sensory
experience of a product or service that allows a
customer to measure whether he or she has
received value. An example may be a cover letter
from a bank for collection of dues. Hence, you can
see that physical evidence is the material part of a
service.
A few other examples of physical evidence are as
follows:
• Packaging
• Internet/web pages
• Paperwork (such as invoices, tickets and
despatch notes)
• Brochures
• Business cards
• The infrastructure itself (such as prestigious or
scenic offices)
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19. Sales & Profit Life Cycles
Introduction Growth Maturity Decline
Time
Sales&profits($)

20. 3.Product Life Cycles (PLC)
 The course of a product’s sale and profit over it lifetime.It
involves five distinct stages:product
development,introduction,growth,maturity,and decline.

22. ASSIGNMENT
 1.Please list the marketing objectives and strategies for each stage.
 2.what strategic option are open to the marketers of products in the mature
stage of the product life cycle?
 3.which product life-cycle stage, if any, is the most important? which stage
is riskiest? which stage appears to hold the greatest profit potential? Be
certain to explain the thinking behind each of your answer.

23. PRAYER
Prepared by: