Concept of marketing mix

1. CONCEPT OF MARKRTING MIX
BY
MANISHA VAGHELA
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1BY:MANISHA VAGHELA

2. Flow of presentation
•Introduction
•Meaning
•Concept of marketing mix
•7p of marketing mix
•Review of topic
•Bibliography
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3. INTRODUCTION
jeromeMcarthyanAmerican
professorinmarketingpopularizedthe
marketingmixinthetermsof4ps–products,
price,promotion,andplace.
themarketingconceptthatwe
havediscussedisvalidforbothproductsand
services.Themarketingmixisoneofthemost
importanceuniversalconcept,whichhasbeen
developedinmarketing.Allthevariableare
inter–relatedandinter-dependentoneach
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4. Conti……
itisappropriatetoreconsiderthe
traditionalmarketingmixintheconceptof
services.Severalauthorshaveagreedthata
differentmarketingmixisneededforservice,
whilesomehaveexpandedthetraditional4pcof
themarketingmixtomakeitmoreappropriate
recognizingthediversityofservicemarketing.
thestrategiesforthe4pcrequire
somemodificationwhenappliedtoservicesdue
tothespecialfeaturesoftheservices.
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4BY:MANISHA VAGHELA

5. Conti…..
thechallengesencounteredbythe
servicemarketer–likeheterogeneity–the
requirementofcustomers,interactionwith
customerwhiledeliveringserviceand
perishabilityorabsenceofinventory,
intangibilityofofferandabsenceofprotection
etc.necessitatetheextentionofthemarketing
mixtoincludepeople,process,andphysical
evidence.TheadditionalprescribedPcreferto
theactivitiesthatareessentialtomeetthe
challengesposedbythreeunique
characteristicsofservices:
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5BY:MANISHA VAGHELA

6. Cont……
1. simultaneityorinseparabilityof
serviceproviderfromcustomer(people)
2.theinabilitytoholdinventoryofservice
markingitcriticalfortheserviceprocessto
flowsmoothlytomatchdemandand
supply(process)
3.Theneedtomakehighlyintangibleservice
offeringappeartangible(physicalevidence)
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7. Meaning of marketing mix
“the combination of these marketing
methods or devices is known as the marketing
mix”
marketingmanagerisamixerof
allmarketingingredientsandhecreatesamix
ofallthemarketingelementandresources.the
marketingmixwillnaturallybechanging
environmental factors (
technical,social,economic,andpolitical)
affectingeachmarket.
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8. 7P of marketing mix
1.products
2.Price
3.Promotion
4.Place
5.People
6.Process
7.Physical evidence
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8BY:MANISHA VAGHELA

9. (1)PRODUCT
productisthething
possessingutility.Ithasfour
components.1product2.serviceafter
sales3.brandand4.package.The
productmanagementevolvesproducts
mixinconsultationwithmarketing
manager,
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9BY:MANISHA VAGHELA

10. (2) Price
priceisthevaluationplaced
upontheproductbytheofferer.Ithasto
coverpricing,discounts,allowancesand
termsofcredit.Itdealswithprice
competition.
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11. (3)Place(distribution):
Distributionisthedelivery
oftheproductandrighttoconsumeit.It
includechannelsofdistribution,
transportation,warehousingand
inventorycontrol.
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12. (4) Promotion:
promotionisthepersuasive
communicationabouttheproductbythe
offerertotheprospect.Itcovers
advertising,personnelselling,sales
promotion,publicity,publicrelations,
exhibitionanddemonstrationsusedin
promotion.Largelyitdealswithnon–
pricecompetition.
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13. (4) People
Anessentialingredienttoany
serviceprovisionistheuseofappropriatestaff
andpeople.Recruitingtherightstaffand
trainingthemappropriatelyinthedeliveryof
theirserviceisessentialiftheorganisation
wantstoobtainaformofcompetitive
advantage.Consumersmakejudgmentsand
deliverperceptionsoftheservicebasedonthe
employeestheyinteractwith.
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14. Cont….
Staffshouldhavetheappropriate
interpersonalskills,attitude,andservice
knowledgetoprovidetheservicethat
consumersarepayingfor.ManyBritish
organizationsaimtoapplyfortheInvestorsIn
Peopleaccreditation,whichtellsconsumers
thatstaffaretakencareoffbythecompany
andtheyaretrainedtocertainstandards.
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15. (6) Process:
theprocesselementofthe
servicemarketingmixisconcernedwiththe
wayinwhichtheservicedeliveredtothe
customer.Thishastwopointsofinterestto
theservicemarketer.
First,theinseparabilitycharacteristicof
serviceshasanimportantimplicationforhow
theservicecompany‟spersonneldeliverthe
servicetothecustomerandhowthecustomer
participatesintheservicedeliveryprocess.
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16. cont
secondly,the„auxiliary‟aspectofthe
servicethatistheaddedvalveofthe
service,becomesanimportant
competitiveweaponindifferentiatingthe
servicefromcompetitorswhenthe
serviceisexperiencebycustomers.
Example:howprocesscanbeusedto
competitiveadvantageisthroughthe
marketingoffinancialservice.
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17. (7) Physical evidence
therelativeintangibilityofmany
servicesmakesitimportanttopayattentionto
tangibles.Sometimes,thetangibilingof
intangibleservicesmayhelptomarketthem
better.(forexample,brochuresofavacation
destinationcancreateimagesabouttheplace,and
mayendinadesiretovisittheplace.)Physical
evidencearethosetangibleclueswhichthe
customermayreceiveduringtheprocessof
receivingtheservice,which„verifyeitherthe
existenceorthecompletionofaservice‟.
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18. Cont….
Furtherphysicalevidencecanbecategorized
into-twoperipheralevidenceandessential.
•Peripheralevidence:Isusually„possessedaspart
ofthepurchaseofaservice,butithaslittleorno
independentvalue‟.E.g.acheckbookwhichis
notofanyusewithoutthefundstransferand
storageservicethatitrepresent.
•Essentialevidence:unlikeperipheralevidenceit
cannotbepossessedbytheconsumer.
However,essentialevidencemaybe„sodominant
init‟s
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19. Cont….
thephysicalevidencethata
serviceproviderpresentsisnotlimitedto
building,buttotheappearanceofpeople,
stationary,billssenttocustomers,visiting
cardsandanytangibleevidencethatmay
resultinanimpressionbeingformed
abouttheservicebrand.Ofcourse,there
maybeculturalfactoratplaytoo.
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20. Cont….
impactonservicepurchaseandusethatit
mustbeconsidervirtuallyanelementinits
ownright.
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21. Summary
thecontrollablevariablesofthefirm
product,price,place,place,promotionofthe
productmarketingareinadequatefor
marketingservices.Thespecialfeaturesofthe
servicemarketinghavebroughtabouttheneed
fortheextendedmarketingmix–people,
process,andphysicalevidence.Becauseofthe
inseparabilityoftheserviceproductionand
consumption,thecustomerissubjectedto
directexperienceoftheproductionprocess,
thisalsoincludetheinteractionwiththefront
linestaff,servicesbeingintangibleneedstobe
tangibilizedthroughthephysicalevidence.
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22. Review of topic
•Introduction
•Meaning
•Concept of marketing mix
•7p of marketing mix
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23. Bibliography
(1)Services marketing
Another
Rajendra nargundkar
(2) Marketing management
Anther
S.A . Sherlekar
Publish by Himalaya publishing house
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24. [email protected]
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