MARKETING-MIX-AND-7PS.pdf

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1. Marketing Mix
The 7p’s of Marketing

2. MARKETING MIX
ØThe term "marketing mix" is a foundation model for
businesses, historically centered around
product, price, place, and promotion.
ØThe marketing mix has been defined as the "set of
Marketing tools that the firm uses to pursue its marketing
objectives in the target market".

3. IMPORTANCE OF MARKETING MIX
1
Creating the right marketing strategy and
its implementation through effective tactics.
2
Helps understand what your product or
service can offer to your customers.

4. 3
Helps business make use of their strengths
and avoid unnecessary cost.
4
Helps plan a successful product offering.

5. 7p’s of Marketing
PRODUCT
PLACE
PROMOTIONS
PRICE
PEOPLE
PHYSICAL APPEARANCE
PROCESS

6. To satisfy the needs
and wants of the
target market.

7. PLACE
To make the
product
conveniently
available to the
target market
consistent with their
purchasing pattern.

8. PROMOTIONS
To build and
improve
consumer
demand.

9. ADVERTISING
to effectively
inform and
persuade the
target market
PUBLIC
RELATIONS
to offer a
positive
image of the
company and
the brand
SELLING
to get the
customers
buy
SALES
PROMOTION
to convince
customers to
buy
immediately

10. PRICE
To make the
product
affordable to the
target market
and reflect the
value of benefits
provided.

11. PEOPLE
They are the
target
consumers of
the company.
They are the
ones who are
the consumers.

12. PHYSICAL
APPEREARANCE
Physical appearance
is the first
distinction of a
product. A product
could be easily
recognize by it’s
appearance.

13. PROCESS/
POSITIONING
The process of the
product is essential
in marketing. This
determines the
capability of the
product to supply
the demand of the
consumers.

14. STRATEGIC P’S TACTICAL P’S
PRODUCT
PLACE
PEOPLE
Strategic p’ s of
marketing mix since
they cannot be
changed easily.
PROMOTIONS
PRICE
PROCESS
PHYSICAL
APPEARANCE
Considered as the
tactical p’ s of
marketing mix because
these can be changed
more easily.

15. MACRO LEVEL
(What are the groupings
of similar customers?)
MICRO LEVEL
• Decision Making Unit/
DMU (Who purchases
the product?)
• Decision Making
Process/ DMP (How,
where, and when is the
purchase made?)
• Consumer motivation
and preferences guide
(What does the
consumers want and
why?)

16. DIAGNOSTIC MARKETING MIX
MARKETING PROBLEMMARKETING SOLUTION
v Low awareness level v Advertising
v Low availability v Placement
v Low trial rate v Pricing and Promotions
v Low repeat purchase v Product and Service quality

17. Nature of Marketing Mix
1.Marketing mix is the crux of marketing process.
2.Marketing mix has to be reviewed constantly in order to
meet the changing requirements
3.Change in external environment necessitate alterations in
the mix.
4.Changes taking place within the firm also necessitate
changes in marketing mix.
5.Applicable to business and non-business organization.
6.Helps to achieve organizational goals.
7.Concentrates on customers.

18. 1.MARKETING MIX IS
THE CORE OF
MARKETING PROCESS
The impact of the mix will
be
the best when proper
weighted is assigned to each
element and they are
integrated so that the
combined effect leads to the
best result.

19. 2. MARKETING MIX HAS
TO BE REVIEWED
CONSTANTLY IN ORDER
TO MEET THE CHANGING
REQUIREMENTS
The marketing manager has
to constantly review the mix
and conditions of the market
and make necessary changes
in the marketing mix
according to changes in
conditions and complexity of
the market.

20. 3. CHANGES IN
EXTERNAL
ENVIRONMENT
NECESSITATE
IN THE MIX
Changes keep on taking
place in the external
environment. For many
industries, the customer is
the most fluctuating
variable
of environment.

21. 4. CHANGES TAKING
PLACE WITHIN THE
FIRM ALSO
NECESSITATE
CHANGES IN
MARKETING MIX
Changes with the firm
may
take place due to
technological changes in
the size and scale of
operation.

22. 5. APPLICATION TO
BUSINESS AND
NON-BUSINESS
ORGANIZATION
Marketing mix is
applicable
not only to business
organizations but also non
business organization,
such
as clubs and educational
institutions.

23. 6. HELPS TO ACHIEVE
ORGANIZATIONAL
GOALS
An application of an
appropriate marketing mix
helps to achieve
organizational goals such
as profit and market share.

24. 7. CONCENTRATES ON
CUSTOMERS
The focus point of marketing
mix is the customer, and
the marketing mix is
expected to provide
maximum customer
satisfaction.