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ppt v2

The marketing mix is a strategic tool comprising four key components: product, price, distribution, and promotion, which businesses use to influence buyer behavior and achieve marketing objectives. The concept has evolved to include the 4 C's (customer, cost, convenience, communication) and the 7 P's (people, processes, physical evidence) to adapt to modern marketing needs. Regular evaluation and adjustment of the marketing mix are essential for maintaining competitiveness and meeting consumer demands.

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25 views15 pages

ppt v2

The marketing mix is a strategic tool comprising four key components: product, price, distribution, and promotion, which businesses use to influence buyer behavior and achieve marketing objectives. The concept has evolved to include the 4 C's (customer, cost, convenience, communication) and the 7 P's (people, processes, physical evidence) to adapt to modern marketing needs. Regular evaluation and adjustment of the marketing mix are essential for maintaining competitiveness and meeting consumer demands.

Uploaded by

crisrobert29
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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MARKETING MIX

Students: Bianca-Ioana Nechifor


Loredana Monica Fartescu Paduraru
Dumitrascu Robert Cristian
Coordinatig Teachers: Associate Professor PhD. DEATCU Catalin
Associate Professor PhD. ZOICA Nicola
„Marketing Mix is the set of controllable variables that the firm
can use to influence the buyer's response” ( Ph. Kotler),
represent ,, different levels of the company’s marketing decisions at
any given time.”
INTRODUCTION
•The marketing mix can be seen as a vector with four dimensions:
MARKETING MIX = PRODUCT × PRICE × DISTRIBUTION × PROMOTION

• Effective marketing touches on a wide range of areas as opposed to fixating on a single message.

• The marketing mix is a tool for achieving the company’s marketing policy, which consists of a unitary
combination of different marketing variables, in four distinct areas: product, price, distribution and
promotion.

•This concept has also evolved within the current approach, giving importance to the following four components:
 Product
 Price
 Distribution (placement)
 Promotion
HISTORY

•-MIX: ,,mixture”, which in English has the meaning of blend, combination.

• -MARKETING: a social and managerial process by which individuals or groups of


individuals obtain what they need and want, by creating, offering and exchanging products and
services, a certain value.
HISTORY

The creator of the marketing-mix concept was professor


Neil Borden from Harvard University ( USA), in the 50s.
The marketing mix suggests the idea of training marketing
resources in different combinations to get maximum response
from the target market.
MARKETING PIONEERS

Among the finest marketers of all time was John Wanamaker.


He was among the first to realize that product promotion and
advertising are crucial to a company’s success. He popularized
the idea, which let buyers return goods if they weren’t happy
with them.
MARKETING PIONEERS

Claude Hopkins was another pioneer of marketing. He


introduced the concept of ,, direct marketing”, ,, product
testing”, and the concept of ,,prizes”.
MARKETING PIONEERS

David Ogilvy was one of the greatest pioneers of marketing.


He introduced the concept of ,, branding”, ,, creativity”, and the
concept of ,, impulse buying”.
THE 4 P’S OF THE MARKETING MIX
1. Product: Just as, before starting any activity it is important to know very
well what you need to do, the same is true for marketing products,
whether physical or intangible.
2. Price: Now that you know your product or service well enough, it’s time
to make decisions about price. This element of this digital marketing mix
focuses on aspects such as: profit margin, supply and demand, marketing
costs and many other factors.
3. Promotion: How are you going to draw potential customers attention to
your product or service?
In the marketing mix, the promotion aspect emphasizes the strategies
you can find to get your product in front of your target audience.
4. Placement: Another important aspect of the marketing mix is how
potential customers are used to interacting and purchasing.
Whether it’s a website or a physical location, you need to understand how
potential customers are used to searching and finding your product or
service.
THE 4 C’S OF THE MARKETING MIX
1. Customer:This component is in replacement of “product”. Instead of being focused
upon developing products, the firm needs to focus upon the needs and
requirements of customers.
2. Cost: replaces the old “price”, by emphasizing the shift towards a consumer
centered marketing strategy. The focus is on what it costs a customer to buy a
product or service, instead of pricing a product for the sole purpose of
organizational profit.
3. Convenience: is similar to the original “place”. But instead of looking for a range of
retailers to sell and promote their products, these days firms need to look at the
most convenient manner of getting their product to the end consumer.
4. Communication: refers to the traditional “promotion”. Most current marketing
textbooks tend to use the words “integrated marketing communication”, rather
than promotion anyway. Instead of a one-way communications strategy,
organizations need to adopt a “listening and learning” approach.
THE DIFFERENCE BETWEEN 4 P’S AND 4
C’S
•A 4P and a 4C are two distinct marketing metrics that represent
four distinct areas that marketers must assess; the primary
distinction lies in the definition of each aspect. The company's
products and the methods by which they are supplied to clients are
referred to as the four Ps: product, price, place, and promotion.
• The 4 C’s—stakeholders, costs, communication, and distribution
channels—are critical components of any organization's
operations. When it comes to optimizing your marketing strategy,
they can give you a better idea of what to concentrate on.
THE 7 P’S OF THE MARKETING MIX

•Currently, it is recommended that the 7P’s of the marketing mix be taken into account as a whole
while doing a marketing analysis.
•These 4P’s were developed at a time when companies’ primary activities were products and the role
of customer service in brand development was not well understood.
• Booms and Pitner have over time added additional 3P’s to the service area, namely: people,
physical evidence and processes.
THE 7 P’S OF THE MARKETING MIX

1. People: All businesses rely on people, from customer vendors to support to CEO’s. People are the
core of a business success, so they are taken into account in the structure of the 7P’s marketing mix.
2. Processes: A professional can consistently deliver good results. Therefore, any business develops
and implements systems that ensure that quality standards will always be achieved and, implicitly,
that the best results will be achieved.
3. Physical evidence: At this aspect it is important to consider the physical proof that the service
was delivered, regardless of the specifics of the company.
Also, for some businesses, even active physical presence is important, playing an important role in
branding.
MARKETING MIX IMPORTANCE

1. It helps to create a chain of clear links between processes.

2. The marketing mix helps develop new products.

3. The marketing mix helps develop the product portfolio.

4. The marketing mix acts as a guide to improve a business.

5. Marketing mix helps differentiate.

6. The marketing mix helps you be dynamic.


CONCLUSION

• In conclusion, the marketing mix is essential for achieving competitive advantage and maximizing
customer satisfaction.
• By carefully considering each element of the marketing mix and how they interact with each other,
businesses can create a cohesive strategy that aligns with their objectives and resonates with their
target audience.
• Additionally, in today’s dynamic and competitive marketplace, the marketing mix should continuously
evolve to adapt to changing consumer preferences, technological advancements, and market trends.
• Therefore, businesses must regularly evaluate and adjust their marketing mix strategies to stay
relevant and drive sustainable growth.

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