4 P's of Marketing
Post on 09-Feb-2015
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THE MARKETING CONCEPT
Consumers
Marketing Research Marketing Segmentation
Product Price Place Promotion
PRODUCT
What is product?
Sub-variables:
Product line, product shape, size, colour, brand name, trade mark, packaging, labeling, after sales service, guarantees etc.
Aspects Brief explanations or examples
The appearance Color, size, shape, etc. must meet the consumer needs.
The function Able to be used Convenient for use Meeting special needs of customers
The cost Production costs must be low enough to earn some profit.
High cost, higher price. Too high price, customers unlikely to buy.
Features of a product to meet the needs of customers
Price
exchange value of product
Price should b reasonable.
Sub-variables:
Credit sales, installment payments, discounts, gifts, etc.
The pricing policy that a business chooses is often a reflection of the market at which it is aiming. The right price set must take into account of production costs, competitors’ prices and consumers’ purchase ability and demand level.
PLACEPlace is the third of the 4 P’s of marketing mix marketing is about putting the right product, at the right price,at the right place, at the right time. Sub variables- warehousing,transportation
Two types of channel of distribution methods are available. Indirect distribution involves distributing your product by the use of an intermediary for example a manufacturer selling to a wholesaler and then on to the retailer.. Direct distribution involves distributing direct from a manufacturer to the consumer For example Dell Computers providing directly to its target custmers. The advantage of direct distribution is that it gives a manufacturer complete control over their product.
Distribution channel
Distribution strategies
Intensive distribution-low price productExclusive distribution-The product is usually highly priced, and requires the intermediary to place much detail in its sellSelective distribution-common with product such as computers,television
promotionPromotion includes all activities undertaken by an organization to promote it’s productSub variables-sales promotion, personal selling, public relation, advertising,sponsorship
Promotion strategies
Effects of Environmental Variables on Marketing Mix
POLITICAL VARIABLE:- The political environment in any
country is always influenced by its legislatures , which are its law making bodies.
Eg: changes in tax policy ,rules regulations etc.
Social Environment:-
Social environment is formed by the society around the business.
BUSINESS
EMPLOYEES
COSTOMERS
GOVERNMENT
SHAREHOLDE
R
Technological Environment:- Technology keeps on changing very
fast. An innovation of today may be a history tomorrow.
Eg: Software updates, electronic good, fashion.
Natural environment:-
Natural environment includes land, minerals, oil, water etc . As natural resources are very less it must be used properly.
Eg:- Climatic condition , natural resources.
Demographic Environment:-
Demographic environment includes factors affecting population such as age, income, sex, occupation, lifestyle, education etc.
Eg:- Pricing of a commodity.
Economic environment:-
Economic environment of a nation includes economic conditions like national income, per capita income etc and economic policies formulated by the government.
Eg:- Export Import policies.
Case Study
Dietrich Matischitz launched red bull in 1987.
Annual sales of around 4 billion cans in 160 countries.
Promotional Approaches
Above the Line :PressTelevisionRadioInternet
Below the Line :Event Marketing in sportsa)Redbull X fightersb)Red bull air race
It adopts a progressive marketing strategy which is constantly evolving to push the brand forward. Social and digital media is at the heart of all its promotions.It allows it to adapt t o techno n social changes
Conclusion
MANMEET KAUR SAINI 40 RAMYA KATA 17 NEETA GHULE 09 TANVI SHETTY 47 SHIVALALITHA PILLAI 33 JASMEET KAUR JOLLY 15 VRIDDHEE GOEL 10
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