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Marketing Mix

The document provides an overview of the marketing mix, known as the 4Ps - product, price, place, and promotion. It then discusses each element in more detail, covering the product life cycle, different distribution channels, factors that influence pricing, and various promotional techniques like advertising and personal selling. The marketing mix aims to find the right combination of these controllable elements to serve customer needs and maximize profits.

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Rojan Pradhan
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69 views15 pages

Marketing Mix

The document provides an overview of the marketing mix, known as the 4Ps - product, price, place, and promotion. It then discusses each element in more detail, covering the product life cycle, different distribution channels, factors that influence pricing, and various promotional techniques like advertising and personal selling. The marketing mix aims to find the right combination of these controllable elements to serve customer needs and maximize profits.

Uploaded by

Rojan Pradhan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Presentation on Marketing

Mix
Marketing Mix:
• A planned mix of the controllable elements of a product's marketing
plan commonly termed as 4Ps: product, price, place, and promotion.
These four elements are adjusted until the right combination is found
that serves the needs of the product's customers, while generating
optimum income.

Read more:
http://www.businessdictionary.com/definition/marketing-mix.html
PRODUCT
• Any item or service that satisfies the need of customer.

• Can have form and shape or can be services with no physical form.

Product life cycle


• Allows managers to make decisions about whether to continue selling
the product,when to introduce new follow up products,and when to
introduce changes to existing product.
Introductory stage
• Marketers present their product to potential consumers.

• Compete with established products.

• Cost of marketing high because company must overcome customer


resistance and inertia.

• Profits generally low or negative


Growth and acceptance stage
• Customers begin to purchase the product in large enough numbers for sales to
rise and profits to materialize

• Product that reach this stage do not necessarily be successful.

• If product fail-disappear from marketplace.

Maturity and competition stage


• Sales volume rise, profit margin peak and fall as competitors enter the market.

• Causes reduction in products selling price to meet competition and hold its
share of market.
Market saturation stage
• Sales peak

• Introduce the next generation product

Product decline stage


• Sales drop and profit margins fall drastically.

• Products that have remained popular are revised.


Fig: Time between introduction of products
Place
— In the marketing mix, the process of moving products from the producer to the intended user is called place.

—This movement could be through a combination of intermediaries such as distributors, wholesalers and
retailers.

—“Place” has grown in importance as customer expects greater service and more convenience from business.

—In every industry, catching the eye of the consumer and making it easy for him/her to buy is the main aim of a
good distribution or 'place' strategy.

—It is one of the driving forces for the rapid growth of web based shopping; internet iteself has become a
marketplace.

—Most of the businesses are stationary, while some of them have become mobile like animal clinics, repair
services as well as fast food.
— Any activity involving movements of goods to the point of consumer purchase provides place utility.

— Place utility is directly affected by channels of distribution, the path that goods or services take in moving from producer to
consumer.

— Channels involve no. of intermediates that provide time utility ( making the product available when the customers want) and
place utility ( making the product available where the customers want)

There are 4 common channels of distribution for consumer goods.


Distribution Channels
The 4 distribution channels for consumer goods include:

1. Manufacturer to consumer:
- Producers sell their goods or services directly to the consumers.
- Eg: Dental care, haircut

2. Manufacturer to retailer to consumer:


- It involves retailer as a intermediate in this channel.
- Eg: clothes, shoes, books

3. Manufacturer to wholesaler to retailer to consumer:


- This is the most common channel of distribution.
- Eg: Prepackaged foods, toys, hardware, medicines

4. Manufacturer to agent/broker to wholesaler to retailer to consumer:


- Eg: Agricultural goods, electrical components
There are 2 common channels for industrial goods.

Manufacturer Industrial user

Manufacturer Wholesaler Industrial user

1. Manufacturer to industrial user:


- Majority of industrial goods are distributed directly from manufacturers to users.
- In some cases, the goods are designed to meet user’s specifications.

2. Manufacturer to wholesaler to industrial user:


- Mostly low expense items that are commonly used by firms are distributed through this
channels.
- Eg: rubber bands, clips, toilet papers, cleaning fluids, paper, etc
Price
• Important key point of marketing mix
• Right price of the product depends upon:
a company’s cost structure
as assessment of what the market will bear
The desired image the company wants to create in its customer’s
mind
Promotion

• Advertising • Personal Selling


- Communicates to potential - The art of persuasive sales on one
customers through some mass to one basis.
medium the benefits of a good or
service.

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