SANJYA B20569.pptx
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The document discusses the 7 P's of marketing - product, price, place, promotion, people, positioning, and package. It provides examples for each P. Product refers to the goods and services a company offers. Price is the amount customers pay. Place includes activities that make products available. Promotion communicates product merits to persuade customers. Package refers to outward product appearance. Positioning arranges a product to occupy a clear place in customers' minds. People refers to those responsible for sales and marketing strategy and activities.
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Week 1, What Is Strategic Marketing was derived from Princi.docx
Week 1, "What Is Strategic Marketing?" was derived from Principles of Marketing, which was adapted by the
Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported license
without attribution as requested by the work's original creator or licensee. © 2015, The Saylor Foundation.
1
Week 1
What Is Strategic Marketing?
What makes a business idea work? Does it only take money? Why are some products a huge
success and similar products a dismal failure? How was Apple, a computer company, able to
create and launch the wildly successful iPod, yet Microsoft's first foray into MP3 players was a
total disaster? If the size of the company and the money behind a product's launch were the
difference, Microsoft would have won. But for Microsoft to have won, it would have needed
something it's not had in a while—good marketing so it can produce and sell products that
consumers want.
In the first week of the course, we will focus first on understanding what marketing means as a
discipline, and how it integrates within an organization. Once we have an understanding of what
marketing is and does, we will get more specific as to how marketing activities are planned and
implemented. Also, if you are interested in a marketing career, we outline some of the potential
marketing positions most commonly considered the main marketing jobs. We will begin our
discussion on marketing ethics and sustainability, two themes you will see frequently throughout
the course.
1.1 Defining Marketing
L E A R N I N G O B J E C T I V E S
1. Define marketing.
2. Outline the four components of marketing: creating, communicating, delivering, and exchanging
value.
Marketing is defined by the American Marketing Association as "the activity, set of institutions,
and processes for creating, communicating, delivering, and exchanging offerings that have value
for customers, clients, partners, and society at large" (AMA, 2009). If you read the definition
closely, you see that there are four activities, or components, of marketing:
● Creating. The process of collaborating with suppliers and customers to create offerings
that have value.
● Communicating. Broadly, describing those offerings, as well as learning from
customers.
● Delivering. Getting those offerings to the consumer in a way that optimizes value.
http://www.saylor.org/site/textbooks/Principles%20of%20Marketing.pdf
http://creativecommons.org/licenses/by-nc-sa/3.0/
2
● Exchanging. Trading value for those offerings.
The traditional way of viewing the components of marketing is via the four Ps:
1. Product. Goods and services (creating offerings).
2. Promotion. Communication.
3. Place. Getting the product to a point at which the customer can purchase it (delivering).
4. Price. The monetary amount charged for the product (exchange).
Introduced in the early 1950s, the four Ps were called the marketing m.
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This document discusses the 7 P's of marketing - product, price, place, promotion, people, process, and package. It provides details on each P, including definitions and examples. Product refers to a company's product mix and portfolio. Price mix is the combination of price-related variables set by a producer. Promotion involves communicating with buyers to influence purchasing. Place marketing promotes a location. People includes those involved in business and customer interactions. Process is the customer delivery and service flow. Package is the wrapping and container that contains the product. The conclusion states that determining the traditional 4 P's along with the additional 3 P's can help develop an effective marketing strategy.
Week 1, What Is Strategic Marketing was derived from Princi.docx
Week 1, "What Is Strategic Marketing?" was derived from Principles of Marketing, which was adapted by the
Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported license
without attribution as requested by the work's original creator or licensee. © 2015, The Saylor Foundation.
1
Week 1
What Is Strategic Marketing?
What makes a business idea work? Does it only take money? Why are some products a huge
success and similar products a dismal failure? How was Apple, a computer company, able to
create and launch the wildly successful iPod, yet Microsoft's first foray into MP3 players was a
total disaster? If the size of the company and the money behind a product's launch were the
difference, Microsoft would have won. But for Microsoft to have won, it would have needed
something it's not had in a while—good marketing so it can produce and sell products that
consumers want.
In the first week of the course, we will focus first on understanding what marketing means as a
discipline, and how it integrates within an organization. Once we have an understanding of what
marketing is and does, we will get more specific as to how marketing activities are planned and
implemented. Also, if you are interested in a marketing career, we outline some of the potential
marketing positions most commonly considered the main marketing jobs. We will begin our
discussion on marketing ethics and sustainability, two themes you will see frequently throughout
the course.
1.1 Defining Marketing
L E A R N I N G O B J E C T I V E S
1. Define marketing.
2. Outline the four components of marketing: creating, communicating, delivering, and exchanging
value.
Marketing is defined by the American Marketing Association as "the activity, set of institutions,
and processes for creating, communicating, delivering, and exchanging offerings that have value
for customers, clients, partners, and society at large" (AMA, 2009). If you read the definition
closely, you see that there are four activities, or components, of marketing:
● Creating. The process of collaborating with suppliers and customers to create offerings
that have value.
● Communicating. Broadly, describing those offerings, as well as learning from
customers.
● Delivering. Getting those offerings to the consumer in a way that optimizes value.
http://www.saylor.org/site/textbooks/Principles%20of%20Marketing.pdf
http://creativecommons.org/licenses/by-nc-sa/3.0/
2
● Exchanging. Trading value for those offerings.
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1. Product. Goods and services (creating offerings).
2. Promotion. Communication.
3. Place. Getting the product to a point at which the customer can purchase it (delivering).
4. Price. The monetary amount charged for the product (exchange).
Introduced in the early 1950s, the four Ps were called the marketing m.
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- 1. 7 p's Marketing Name : SANJYA S Department : BBA College : Don Bosco College, Yellagiri Hills
- 2. Marketing Mix Marketing mix is a set of tactical marketing tools that the firm blends to produce the response it wants in the target market. The marketing mix comsist of everything the firm can do to influence the demand for it's products .
- 3. The 7p‘s are o Product o Price o Place o Promotion o People o Positioning o Package
- 4. PRODUCT o Product means goods and services combination, the company offers to the target market. Example :Bag's
- 6. Price • Price is the amount of money customers must pay to obtain the product.
- 8. Place • It includes companyactivities that makes the product available.
- 9. The place of buying or available of bags in both online as we'll as offline also. The chose is dependent on the customer. And the bag's we can see in shopping malls, store's and also in were the people's gathering in one place. Example : Bus stand, festival times in near of temples, also in trains etc.
- 11. Promotion • It means activities that communication the merits of the products and persuade target consumers to buy it.
- 13. Package • The fifth element of marketing mix is packaging. It refers to the way your product or service appears from the outside. • It develop the habit of standing back and looking at every visual element in the packaging of your product or service.
- 15. Positioning • The next p is positioning. It involves arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the mind of target consumers.
- 16. People • The final P of the marketing mix is people. Develop the habit of thinking in terms of the people inside and outside of your business who are responsible for every element of your sales and marketing strategy and activities.