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    Marketing - 2: Debasish Nayak PGDM 2 Year Krupajal Business School

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    Debasish Nayak
    This document discusses various marketing philosophies and concepts, including the marketing mix (4Ps) of product, price, place, and promotion. It explains that the marketing concept focuses on customer needs and delivering superior value compared to competitors. The marketing mix principles involve carefully managing controllable variables to meet the needs of the target group. The document also introduces the extended marketing mix, which includes people, processes, and physical environment as additional elements.

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    Marketing - 2: Debasish Nayak PGDM 2 Year Krupajal Business School

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    Debasish Nayak
    52 views14 pages
    This document discusses various marketing philosophies and concepts, including the marketing mix (4Ps) of product, price, place, and promotion. It explains that the marketing concept focuses on customer needs and delivering superior value compared to competitors. The marketing mix principles involve carefully managing controllable variables to meet the needs of the target group. The document also introduces the extended marketing mix, which includes people, processes, and physical environment as additional elements.

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    Marketing Mix

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    This document discusses various marketing philosophies and concepts, including the marketing mix (4Ps) of product, price, place, and promotion. It explains that the marketing concept focuses on customer needs and delivering superior value compared to competitors. The marketing mix principles involve carefully managing controllable variables to meet the needs of the target group. The document also introduces the extended marketing mix, which includes people, processes, and physical environment as additional elements.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    52 views14 pages

    Marketing - 2: Debasish Nayak PGDM 2 Year Krupajal Business School

    Uploaded by

    Debasish Nayak
    This document discusses various marketing philosophies and concepts, including the marketing mix (4Ps) of product, price, place, and promotion. It explains that the marketing concept focuses on customer needs and delivering superior value compared to competitors. The marketing mix principles involve carefully managing controllable variables to meet the needs of the target group. The document also introduces the extended marketing mix, which includes people, processes, and physical environment as additional elements.

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    Marketing - 2

    Debasish Nayak PGDM 2nd year Krupajal Business School

    Marketing Management Philosophies

    Production Concept Product Concept Selling Concept

    Consumers favor products that are available and highly affordable Improve production and distribution Consumers favor products that offer the most quality, performance, and innovative features Consumers will buy products only if the company promotes/ sells these product Focuses on needs/ wants of target markets & delivering satisfaction better than competitors Focuses on needs/ wants of target markets & delivering superior value Societys well-being

    Marketing Concept
    Societal Marketing Concept

    Marketing & Sales Concepts Contrasted

    Starting Point
    Factory

    Focus

    Means
    Selling and Promoting

    Ends
    Profits through Volume

    Existing Products

    The Selling Concept

    Market

    Customer Needs

    Integrated Marketing

    Profits through Satisfaction

    The Marketing Concept

    Marketing Mix (4ps)

    Product

    Price

    Place

    Promotion

    The marketing mix principles are controllable variables which have to be carefully managed and must meet the needs of the defined target group.

    Marketing Mix : 4P vs. 4C

    Product

    Price

    The marketing mix consists of four elements: product, distribution, promotion, and price.

    Marketing Mix

    Consumer wants and needs (vs. Products) Cost to satisfy (vs. Price) Convenience to buy (vs. Place) Communication (vs. Promotion)

    Distribution

    Promotion

    The Extended Marketing Mix

    Marketing Mix (4ps) Product


    Product Decisions

    Branding

    Quality

    Features

    Benefits offered
    We must remember that Marketing is fundamentally about providing the correct bundle of benefits to the end user, hence the saying Marketing is not about providing products or services it is essentially about providing changing benefits to the changing needs and demands of the customer

    Marketing Mix (4ps) Pricing


    Pricing is the only mix which generates a turnover for the organisation. The remaining 3ps are the variable cost for the organisation. It costs to produce and design a product, it costs to distribute a product and costs to promote it. Price must support these elements of the mix. Pricing is difficult and must reflect supply and demand relationship.

    Penetration Skimming Competition Product Line Bundle


    Psychological

    Pricing Strategies

    Marketing Mix (4ps) Promotion


    Advertising Public Relations

    Promotional Mix
    A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. An organisations promotional mix can consist of:

    Sales Promotion Personal Selling

    Direct Mail
    Internet/ E-commerce

    Marketing Mix (4ps) Place


    Direct Distribution Indirect Distribution
    Manufacturer Manufacturer

    Retailer

    Consumer Consumer

    Elements of the Marketing Mix


    People Employees Management Culture of organisation Attitude to customer service

    People

    People represent the business

    The image they present can be important First contact often human what is the lasting image they provide to the customer? Extent of training and knowledge of the product/service concerned Mission statement how relevant? Do staff represent the desired culture of the business?

    Process

    How do people consume services? What processes do they have to go through to acquire the services? Where do they find the availability of the service?

    Contact Reminders Registration Subscription Form filling Degree of technology

    Physical Environment

    The ambience, mood or physical presentation of the environment

    Smart? Trendy/modern/old fashioned? Light/dark/bright ? Romantic ? Clean/dirty/neat? Music? Smell?

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