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MARKETING IN BANKING &
INSURANCE
Name of students Roll No.
1 Vaibhav Bhosle 108254
2 Kavilash Naik 1082863 Kiran Poojary 108292
4 Vinod Prajapati 108293
5 Prasad Rabase 108294
6 Anand Dichwalkar 108310
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MARKETING MIX
DEFINITION
The 'marketing mix' is a set of controllable,tactical marketing tools that work togetherto achieve company's objectives
The marketing mix is the combination ofmarketing activities that an organizationengages in so as to best meet the needs ofits target market.
It is defined as the particular group ofvariables offered to the market at aparticular point of time, depending on
which the market behaves.
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The 7ps The 7cs
Organisational facing customermer facing
Product customer value
Price cost
Place convinience
Promotion communication
People caring
Processes co-ordinated
Physical evidence confirmation
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PRODUCT
LEVEL CONTENT EXAMPLECORE Basic Permanent
accommodation
EXPECTED Basic+ minimum conditions Room, Bathroom,kitchen, water supply,
water and electricity,Security, cleanliness
AUGMENTED In addition to expected Security systems, Goodambience and
cleanliness,
recreational amenities,
social infrastructure
POTENTIAL Exceed expectations.
Beyond the usual
Schools, hospitals and
temples/ churches/
mosques in the vicinity.
Loans and lower rates
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CORE PRODUCT:in housing sector, the core
product is accommodation and the cost involved is70% whereas the impact is 30%.
PRODUCT SURROUND:these are the add on
values in addition to the core service which provide
delight to the customers. For eg. 24 hours water
and electricity supply, phone lines and intercom
facilities etc which involves 30% cost though its
impact is very high on the customers i.e. 70%.
SERVICE
FLOWER
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PRICE
Cost Based pricing: Capital projects and building activities are priced sothat variable costs the costs incurred as the result of gaining the work are covered. Ideally, the price also makes a contribution to the fixedcost/total cost of the contracted organization. It is also necessary toconsider charges incurred by the contractor as result of having tounderwrite the project from inception to delivery and from the need to
acquire any specialist equipment and expertise necessary. Price Discrimination
Product: different types of houses are priced at different rates. For eg.Bungalows, apartments, chawls are priced differently.
Builders also fix prices for different size apartments in the samebuilding.
Location: at different locations within the same area or same city ,theprices of property are different. Eg: a house at borivali costs differentthan a house at nariman point.
Time: depending on the fluctuating property rates the builder sets theprices of the building. Eg: property rates prevailing today are muchhigher than those that were 2 3 years back.
Pricing is also done depending on the income levels of the customers.Particular income level people will choose a particular area according totheir bud et
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Price is based on the combination of:
What the market expects
What the client can afford
The nature of competition in the sector What the contractor can afford to work for
Any specific factors concerning the particular job e.g.
location material used
What is being agreed and paid for- whether completionof a bldg or wider process offered supported by
maintenance, pre sale and after care agreements?
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PLACE
Channel of distribution: AGENTS AND BROKERS Product has to reach to the ultimate buyers, so company works
with its intermediaries to bring their product to their market.Marketing channel performs he work of moving the goods fromthe producers to the consumers.
In the housing and the construction industry, constructions
cannot be transferred but here intermediaries (agents) transferinformation to distinct places about the availability ofaccommodations so that people not having any idea about theseconstructions get to know about it distribution is done .
Market coverage strategy:EXCLUSIVE DISTRIBUTION
In the housing sector, every builder sells flats through his ownoutlet and not through others. In this industry distribution isdone through real estate agents, who acts as connecting toolbetween the consumer and the provider.
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PROMOTION
The overall purpose of promotion is:
Building, developing and enhancing reputation and confidence;
Presentation of achievements, capabilities and expertise, andrelating two to the needs and wants of customer and potential
customers, the key is to use the language media especially
the language of the receiver (both client and potential client
and also within the industry), and to develop the media within
organization so that expertise and capability are shown in the
best possible light in the eyes of receivers.
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PROMOTION MIX
ADVERTISING:
PERSONAL SELLING:
Billboards, hoardings and also on the perimeter fencesand gateways to project site
Attendance at trade, professional and regional fairsand exhibitions
Making most of positive media coverage:
Other forms of general positive public relationsactivities:
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PEOPLE
The people in the housing and construction industry can be divided intotwo groups.
1) Those who develop the product:They consist of location huntersarchitects and builders.
2) Those who market the product:These consist of marketing peoplewho may or may not have a civil engineering background but certainlyhave the skills of understanding the customer as well as the product.
ROLE OF EMPLOYEES
Primary role:The core role is to develop the building. i.e. builder,contractor.
Facilitating role:The workers help in constructing the building hencethey are the facilitators.
Ancillary role: eg. Interior designer, architect etc.
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PHYSICAL EVIDENCE
A service industry can develop a more
attractive service environment where a service
can be delivered. In the housing and the
construction, sample houses photographs and
posters of previous achievement can be
displayed in construction offices or those can
be shown to the customers when they come forenquiry gets attracted to it.
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PHYSICALEVIDENCE
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Service Company can design a superior deliveryprocess. Because of heavy initial, capitalinvestment, long gestation period and a
speculative tendency (irregular demand)housing and construction industry works otherpeoples money i.e. construction begins withadvance booking and then customers are
suppose to pay installments most of thepayment is made after the product has beenhanded over this strongly experiencesintangibility aspect of this industry.
PROCE
SS
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Stages in Process:
Pre-Transaction Stage:Checking online the
property rates, brochures, contacting the agent
Transaction Stage: Meeting with the agent,negotiating, payment, negotiation on maintenance,garage, documents of NOC, OC.
Post Transaction Stage: Maintenance, security,setting up the home
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