The document discusses the marketing mix, which refers to the 4 Ps of Product, Price, Place, and Promotion that must be considered to properly market a product or service. It expands on the 4 Ps to discuss the 7 Ps of marketing, which additionally includes People, Process, and Physical Evidence. Each P is defined in the context of creating the right marketing strategy to meet customer needs and business objectives.
7 Ps of Marketing | 7Ps explain with an exampleAadil Shaikh
7 Ps of Marketing! In marketing activities, the importance of service marketing targeting intangible services is increasing year by year. This time, I would like to explain the concept of service marketing and the basic framework “7P” for putting it into practice,
7 Ps of Marketing | 7Ps explain with an exampleAadil Shaikh
7 Ps of Marketing! In marketing activities, the importance of service marketing targeting intangible services is increasing year by year. This time, I would like to explain the concept of service marketing and the basic framework “7P” for putting it into practice,
7 Ps extended marketing mix - StrategystDaniel Lee
The 7 Ps extended marketing mix is a popular tool used by marketers. The 7Ps are used when planning marketing strategies.
Find out how to use the 7 Ps extended marketing mix when building a digital marketing strategy.
The 7 Ps are price, product, place, promotion, people, processes, and physical evidence.
Source: https://strategyst.co.uk/blog/7-ps-extended-marketing-mix-the-ultimate-guide/
A marketing mix presentation carried out by Wize Foods Company giving a brief description of what the marketing mix entails.
This will be of help to students, business organisations and researchers
In increasingly competitive markets, consumers have a greater choice over where they buy their goods and services. For an organization to meet its business objectives, it has to find out what consumers require and then identify the best way in which it can satisfy these needs and wants. Creating a competitive advantage can be difficult. A unique marketing strategy with clear objectives is vital to ensure effective promotional activity.
The 4 P's of Marketing Aren't Enough Anymore!Greg Bonsib
Gino Biondi, vice president of sales & marketing at Zenith Products, has suggested that the 4 P’s of marketing aren’t enough anymore. Instead, he believes it takes a baker’s dozen of P’s to represent the many facets of product, channel and brand marketing.
Marketing mix-Types-4 p's,7p's-scope and Importance.ranjith13004
Pure marketing starts with Marketing strategies.a base of marketing strategy to achieve a target market is discussed in marketing mix.A Power point which consists of all information's about what a marketing mix is and what are all its types and how it can be used effectively.
7 Ps extended marketing mix - StrategystDaniel Lee
The 7 Ps extended marketing mix is a popular tool used by marketers. The 7Ps are used when planning marketing strategies.
Find out how to use the 7 Ps extended marketing mix when building a digital marketing strategy.
The 7 Ps are price, product, place, promotion, people, processes, and physical evidence.
Source: https://strategyst.co.uk/blog/7-ps-extended-marketing-mix-the-ultimate-guide/
A marketing mix presentation carried out by Wize Foods Company giving a brief description of what the marketing mix entails.
This will be of help to students, business organisations and researchers
In increasingly competitive markets, consumers have a greater choice over where they buy their goods and services. For an organization to meet its business objectives, it has to find out what consumers require and then identify the best way in which it can satisfy these needs and wants. Creating a competitive advantage can be difficult. A unique marketing strategy with clear objectives is vital to ensure effective promotional activity.
The 4 P's of Marketing Aren't Enough Anymore!Greg Bonsib
Gino Biondi, vice president of sales & marketing at Zenith Products, has suggested that the 4 P’s of marketing aren’t enough anymore. Instead, he believes it takes a baker’s dozen of P’s to represent the many facets of product, channel and brand marketing.
Marketing mix-Types-4 p's,7p's-scope and Importance.ranjith13004
Pure marketing starts with Marketing strategies.a base of marketing strategy to achieve a target market is discussed in marketing mix.A Power point which consists of all information's about what a marketing mix is and what are all its types and how it can be used effectively.
Advertising is an integral part of marketing, and it plays a crucial role in promoting a product or service. In this article, we will explore the characteristics of advertising that make it an effective marketing tool.
Communication
Advertising is a means of communication between businesses and their target audience. Through advertising, businesses can convey information about their products or services, such as their features, benefits, and unique selling proposition (USP).
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This presentation gives a brief information about the Seven P's.
The four P's are also know as the traditional P's and the other three P's are known as the modern or extended P's.
E- Marketing Strategies
A marketing strategy refers to a business' overall game plan for reaching prospective consumers and turning them into customers of the products or services the business provides.
Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy should be centered on the key concept that customer satisfaction is the main goal. Fulfillment of wants of the prospects is one the important goals of marketing activities.
These slides will help learners to develop basic understanding of marketing mix. In addition, educators can use these slides as an introduction material for Marketing Prerequisite.
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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2. Definition: MARKETING
The Chartered Institute of Marketing define marketing as –
'The marketing process responsible for
identifying , anticipating and satisfying
customer requirements profitably‘
Marketing is the process of assessing the needs and
wants of the customer and accordingly designing the
product or service.
Finding out what customer want and creating
product, services that match those requirement.
3. MARKETING MIX
Marketing mix refers to the primary elements that
must be attended to in order to properly market a
product or service.
Marketing mix is the combination four elements:
Product, Place, Price and Promotion. They are
called the “Four Ps of the marketing mix”.
Marketing Mix is a term describing the key
elements used by an organization to help meet its
marketing objectives
6. To create the right marketing mix, businesses have to
meet the following conditions:
The product has to have the right features – e.g. it
should look good and work well.
The price should be right.
The goods must be in the right place at the right time.
Making sure that the goods arrive when and where they
are wanted is an important operation.
The target group needs to be made aware of the
existence and availability of the product through
promotion. Successful promotion helps a firm to spread
costs over a larger output.
7. PRODUCT
To find out what customers want & need & then develop a product to
meet the need of the potential customers.
Suppose now: The competitors products offer the same benefits, same
quality, same price. You have then to differentiate your product with
the following:
Design
Technology
Usefulness
Convenience
Quality
Packaging
Accessories
Warranty
8. Price
A product is only worth what a customer is prepared to pay for it.
Premium Pricing.
Use of high pricing where there is a uniqueness about the product or
service. This approach is used where a a substantial competitive
advantage exists. Such high prices are charge for luxuries such as
Cruises, Luxury Hotel rooms, Designer products.
Penetration Pricing.
It is the strategy of entering the market with a low initial price to
capture greater market share.
9. Price Skimming. The practice of ‘price skimming’ involves charging
a relatively high price for a short time where a new, innovative, or
much-improved product is launched into a market.
The prices are set high in order to attract least price sensitive
customers to generate high profits.
Competitive pricing: If your product is sold at the lowest price
regarding all your competitors, you are practicing competitive
pricing. Sometimes, competitive pricing is essential. For instance,
when the products are basically the same, this strategy will usually
succeed.
10. Promotion
This is the way in which you communicate to your potential customers
about your product.
It includes the various ways of communicating to the customers
of what the company has to offer. It is about communicating the
features/ benefits of using a particular product or service.
Advertisement: It takes many forms like TV, radio, internet,
newspapers, yellow pages, Leaflets, Posters etc.
Sales Promotion: Buy One Get One Free. Others include couponing,
money-off promotions, free accessories (such as free blades with a
new razor), introductory offers (such as buy digital TV and get free
installation) and so on.
Personal Selling: It is an effective way to manage personal customer
relationships. The sales person acts on behalf of the organization.
11. Place
It refers to the place where the customers can buy the
product and how the product reaches out to that place. This
is done through different channels like:
Retails
Wholesale
Internet
Mail orders
Direct Sales
12. People
An essential ingredient to any service provision is the use of
appropriate staff and people. Recruiting the right staff and training
them appropriately in the delivery of their service is essential if the
organization wants to obtain a form of competitive advantage.
Staff should have the appropriate interpersonal skills, attitude, and
service knowledge to provide the service that consumers are
paying for.
Process
It refers to the methods and process of providing a service Processes
must help the customers get what they want. Always keep
customers informed. This can be done at the store or through faxes
and emails.
13. PHYSICAL EVIDENCE
This is particularly important in services marketing as it is the only
physical items that a customer will see and so it must reflect the
image that the service is trying to project. including some of the
following:
Internet/web pages.
Brochures.
Furnishings.
Signage (such as those on aircraft and vehicles).
Uniforms.
Business cards.
The building itself (such as prestigious offices or scenic headquarters).
Example:
If you walk into a restaurant your expectations are of a clean,
friendly, hygienic environment which will want you to visit again.