Marketing mix
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This document discusses the marketing mix, which consists of 4 P's - product, price, place, and promotion. It provides details on each of these elements. For product, it discusses product policies like product line, width, depth, and consistency. For price, it mentions factors considered when pricing a product like demand, costs, ability to pay, and competitor prices. For place, it notes the importance of making products available at convenient locations. And for promotion, it describes creating awareness and informing customers about products.
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http://www.youtube.com/watch?v=zUTmwdGX4Sg
http://www.youtube.com/watch?v=ji3c3XOFnG0
Dr. V. Ramadevi, Department of Management.
This PPT contains the basic marketing concepts, marketing mix elements, customer value and satisfaction, value chain, strategic marketing planning process, marketing research, marketing environment, CRM.
This ppt would be useful for the management students.
marketing management
1. The document discusses the evolution of marketing concepts from production and product-focused to more customer-centric approaches like the marketing concept.
2. It covers key marketing mix elements like product, price, place, and promotion and how firms can create and deliver value to customers through these elements.
3. The marketing mix, brand positioning, pricing strategies, and importance of understanding customer needs and satisfaction are some of the major topics discussed.
Building customer loyalty
In this era of fast-paced competition, the only way to stay afloat is to efficiently manage the most important constituent in business: the customer.
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Marketing mix
- 1. Lakireddy Bali Reddy College of Engineering (Autonomous) L.B. Reddy Nagar , Mylavaram – 521230. A.P.INDIA Affiliated to JNTUK, Kakinada & Approved by AICTE, New Delhi NAAC Accredited with “A” grade , Accredited by NBA New Delhi & Certified by ISO 9001 2008 School of Management Studies www.lbrce.ac.in.bschoollbrce2011@gmail.com Phone: 08659-222933,Fax 08659-222931 TOPIC: MARKETING MIX SUBMITTED TO Dr.V.V.NARSI REDDY PRESENTED BY: JASIYA BEGUM (MBA)
- 8. MARKETING MIX: Marketers use many strategies to attract and retain the customers and one of the best practice used ever is marketing mix. Marketing mix is the combination of elements of marketing and describes what role each element plays in promoting and delivering company's product and services to the customers. DEFINITION: “The marketing mix is the set of controllable tactical, marketing tools that the firm belongs to produce the response it wants in the target markets.” -Professor Phill.
- 9. ELEMENTS OF MARKETING MIX:
- 10. PRODUCT: “Anything that can be offered to a market for attention , acquisition , use or consumption that might satisfy a want or need . Thus a product may be physical good , person, organization, place or idea.” -prof . Philip Kottler
- 11. PRODUCT POLICIES: Product policies are the generally guidelines set up by an organization in making the decisions regarding the product. This policies are used to reap the benefits in the form of profits. PRODUCT POLICIES PRODUCT LINE PRODUCT WIDTH PRODUCT DEPTH PRODUCT CONSISTENCY
- 12. PRODUCT LINE: A product line is a group of related products all marketed under a single brand name that is sold by the same company. PRODUCT WIDTH: Product Width refers to number of separate product lines offered by a company. PRODUCT DEPTH: Product depth is the number of versions of a product that a firm offers. This introduces variety to satisfy diverse customer needs and reach more target markets. PRODUCT CONSISTENCY: Line consistency refers to how closely related the products that make up the line are.
- 15. PRICE: Price is the amount that the customer is willing to pay for the product. It is value of product measured in terms of money and is able to attract the attention of both buyers and sellers . All other elements of marketing mix refers to cost but this is the only element through which company receives money. The factors have to keep in mind while pricing a product are: Like demand for a product Cost involved Consumers ability to pay Prices charged by competitors for similar products.
- 16. Nestle has used a varied pricing strategy. It has brought products in varying pricing ranges from affordable to premium and super premium. While the main target market of Nestle is the middle class consumer, it has also brought several products to the market targeted at the higher end.
- 18. PLACE: The goods can be transferred to the customers at the place of their convenience and cost should be less. It is the component where a company's product/services actually sold. Getting the right product at the right place and time is what drive your business success. There is always a chain of intermediaries involved which will help your product reaching finally at the customers and consumers; and this list of intermediaries involved known as channels of distribution.
- 20. PROMOTION: Promotion is a process of communicating with customers. It creates awareness regarding product and company among the customers. Helps to provide required information regarding the product. It also explains the various benefits of using that particular product.