MARKETING MIX (4P's Of Marketing) Demo Presentation

Product, Price, Place, Promotion

1. MARKETING MIX RICHIE MAE M. RODRIGUEZ

2. THE 4P’S OF MARKETING PRODUCT PLACE PROMOTION PRICE

3. INTRODUCTION Marketing Mix is a set of Marketing tools that the firm uses to pursue it’s marketing objectives in the target market. The term Marketing Mix developed to describe a combination of four (4) elements – Product, Price, Place, Promotion. These four elements are the basic components of a marketing plan and are collectively called 4 P’s of marketing.

4. PRODUCT MIX (1ST P) Product means goods and services or anything of value which is offered to the market for sale to satisfy needs and wants of a consumer. Product is the most visible components of the marketing mix. In the sense product includes physical goods, services, places and ideas. In marketing mix product refers to planning developing and producing right type of products and services. It involves decision on quality, size, design, packaging, color, brand, label, warranty, etc.

5. TWO (2) CLASSIFICATION OF PRODUCTS Industrial Goods are products that are sold primarily for use in producing other goods or rendering services, as contrasted with goods destined to be sold primarily to the ultimate consumer. Consumer Goods are products used by the ultimate consumer or households and in such forms that they can be used without further processing.

6. PRICE MIX (2ND P) Price is the value assigned to the utility one receives from products or services. Usually price is the amount of money that is given up to acquire a given quantity of goods and services. Pricing is considered as the most important unction since it is the only function which lets the money flow back to the business. Price is a matter of vital importance to the buyer and the seller. Fixing the price of the product is the most tricky job.

7. Demand for a product, Cost involved, Consumer’s ability to pay, Prices charged by competitors for similar products, government restrictions etc. The activities of competitors have an important bearing on pricing decision. The most obvious example is when a competitor’s raises or lowers his prices. If your product can offer no particular advantages over his, then if he drops his price, you will have to follow suit. factors have to kept in mind while pricing a products are :

8. PLACE/DISTRIBUTION MIX (3RD P) Place mix consist of all the activities involved in transferring ownership and physical possession of the product to consumers where they can conveniently make purchase. It’s purpose is to make the product or services available to the costumers at the right time and at the right place. It is necessary that the product is available at shops in your town. The Channel though which the products are distributed to the final costumers are known as Channel Distribution.

9. Most common channels of distribution CHANNEL A CHANNEL B CHANNEL C CHANNEL D

10. Channel C represents one of the one of the shorter indirect channels, where the retailers are omitted. Wholesaler buy from manufacturers, store and subsequently distribute direct to costumers on a nation-wide basis. Channel D is another version of a shorter, indirect channel. In this case, it is the wholesaler who is removed from the scene. Not surprisingly, the retailers who dominate this channel are powerful chains or multiples in their own right. e .g : tiles C hannel A represents a direct marketing channel. Manufacturer of goods of large items tend to move them direct to the buyer without involving middlemen or intermediaries . Channel B represents the typical chain for mass marketed consumer goods. Manufacturer selling a wide range of products over a wide geographical area to a market. Middlemen are important links in this channel. Wholesalers for example buy on bulk from the manufacturers, store the goods, break them down into smaller quantities, and undertake advertising and promotional activities. The role of the retailer is to make products available at the point of sale.

11. Promotion mix (4th p) Promotion is the personal process of assisting a perspective customer to buy a commodity to favor upon an idea that has commercial significance to the seller. Promotion done through means of personal selling, advertising, publicity, and sales promotion. It is done mainly with a view to provide information to prospective consumers about the availability, characteristics and uses of a product.

12. Advertising is the process of communication, pursuasive information about the product to target market by means of the written ad spoken word, and by visual material. There are five (5) principal media of advertising as follows: The press – newspaper, magazines, journals, etc Commercial Television Direct mail Commercial radio Outdoor - hoardings, transport advertisements, etc.

13. Personal selling is an oral presentation with one or more prospective purchasers/buywers for purposes of making sales. Advertising creates the interest and the desire but personal selling clinches the deal. Publicity is a non – personal stimulation of demand for a product, service or idea by planting commercially significant news about it in a media that is not paid for by the sponsor. Sales promotion are those marketing activities, other than personal selling, advertising and publicity that stimulates consumer purchasing and dealer effectiveness.

14. Types of Sales Promotion Consumer promotion (samples, coupons, raffles, money – refund offers, discounts, rebates) Trade promotion (cooperative advertising, dealer sales contest) Sales-force promotion (contest, recognition, awards, bonuses, extra commissions)

15. MARKETING MIX EXAMPLE – i Phone 14 Plus PRODUCT PLACE PROMOTION PRICE Advanced smartphone, high-res camera, large storage, crash detection, long battery life. Widespread launch PR Social Media Extensive online and other media advertising Product placement 56, 990 PhP - 82, 990 PhP depending on internal storage Direct from Apple Store Worldwide

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