marketing mix for pgdm presentation semester 4

marketin mix for pgdm

1. PRESENTATION
ON
MARKETING MIX

2. OBJECTIVES
•To explain the concept and
characteristics of marketing mix
• To describe about the various
components of marketing-mix.

3. What is Marketing Mix ?

4. • Marketing mix is the mixture of essential
elements of marketing in order to enhance
satisfaction.

• Marketing mix offers an optimum
combination of all marketing elements so
that we can achieve company goals such as
profit, return on investment sales volume,
and marketing shares and so on.
• It naturally changes the environmental
factors such as technical, social, economic,
political and competition.

5. CHARACTERISTICS OF MARKETING MIX.
•Marketing mix is the crux of the marketing
process.
•Marketing mix has to be reviewed constantly
in order to meet the changing requirements.
•Changes in the external environment
necessitate alterations in the mix.
•Changes taking within the firm too necessitate
changes in the marketing mix.

6. FACTORS AFFECTING MARKETING MIX
Factors affecting the marketing mix
• Consumers behavior.
-It is determined by consumers motivation in purchasing,
buying habits, living habits, buying power.
- Technical and socio-economic development of the
society also brings changes in consumers behavior.
•Competitors behavior
-Competition is another factor affecting the demand and
supply for the product.
Major factors included in competitors behavior are-
• Size and strength of the competitors.
• Number of competitors.
•Product choices offered to the consumers.

7. Factors affecting the marketing mix
-Government exercises control and regulates the
production and pricing of products, advertising and
sales promotion.
- The management should consider the consider the
government laws and policies while formulating the
marketing mix.

8. PODUCT PRICE
PLACE PROMOTION
TARGET
MARKET
Basic elements of marketing mix

9. PRODUCT
• A product is anything which can satisfy a need, want or
desire of consumers and can be offered in an exchange
process.
• Hence a product can be a commodity, service, idea or a
combination of all this.
• Therefore a product can be any of the following-
• a material product
• an intangible service
• a location
• a person
• an idea

10. Essential attributes of a product
• Tangibility
• Intangible attributes
• Exchange value
• Consumer satisfaction

11. PRICE
• Price is the value that the company expects to get from
customers in return of the product or the service the
company is providing to the customer.
• Price is what the company gets back in return for all the
effort that it puts into manufacturing and marketing the
products.
• The other three elements of marketing mix i.e., product,
promotion and distribution incur cost.
• Both undercharging and overcharging have detrimental
effects on profitability.

12. FACTORS AFFECTING PRICING DECISIONS
Factors affecting pricing decisions are divided into two
groups
• INTERNAL FACTORS
• EXTERNAL FACTORS
Internal factors
• Product differentiation
-Price of the product depends upon the characteristics of
the product

13. Internal factors
• Marketing mix
- Marketing experts view price as only one of the main
important elements of marketing mix.
• Cost of the product
-Cost and price of a product are closely related.
- Most important factor is the cost of production.
• Objectives of the firm
- Pricing contributes its share in achieving the objectives of
a firm.

14. External factors
• Demand
-Exists a close relationship between demand and price.
• Economic conditions
-Economic environment of a country also affects the
pricing decisions of a country.
• Government
- Government policies in the form of taxes and price
fixation also affects pricing decisions.

15. External factors
• Suppliers
- Suppliers of raw materials and other goods also affects the
price of a product.

16. PLACE
Place or its more common name is“Distribution”is
about how a business gets its products to customers. It
is to make products available in the right place at the
right time in the right quantities.
After deciding the product, price, promotion methods
the business needs to get the product to the consumer.
Where consumer can buy the product will depend on
how well it will sell.
Business have to decide where to sell their product.
They also have to decide how products gets to the
consumer.

17. CHANNEL OF DISTRIBUTION

23. PROMOTION
• Promotion is any communicative activity whose main
objective is to move forward a product, service or idea in
a channel of distribution.
• Sales do not take place automatically without
promotion or marketing communication.
• Therefore in essence, Promotion is the spark plug In
marketing mix.
• The promotion is the process of marketing
communication involving information, persuasion and
influence.

24. PROMOTION
Promotion has three specific purposes-
• It communicates marketing information to consumers,
users and sellers.
• Promotion persuades and convinces the buyer and enters
into consumer behavior.
• Promotional efforts act as powerful tools of competition
providing the cutting edge of its entire marketing program.

25. PROMOTION
ELEMENTS OF PROMOTION MIX
• Personal selling
- Oral presentation of goods or services.
- It is the conversation with one or more prospective
customers for the purpose of making sales.
- It is the creation of demand for product through sales
representations.
• Advertising
- It is the paid form of impersonal presentation and
promotion of ideas, goods or services by an independent
sponsor.

26. PROMOTION
ELEMENTS OF PROMOTION MIX
• Sales promotion.
- Marketing activities other than personal selling,
advertising and publicity that stimulates consumer
purchasing and dealer effectiveness are known as sales
promotion. For instance- rebate, price off, premium offer.
• Publicity.
-Creates awareness among the potential customers.

For instance- News items about a business is an example
of publicity.

27. PROMOTION
ELEMENTS OF PROMOTION MIX
• Public relations.
- Now a days, most of the companies maintains a
separate public relation department to maintain
relationship with the public i.e., suppliers, dealers,
customers and government agencies.

28. conclusion
•This traditional four p’s of
marketing mix helps in satisfying
or communicating with customers.
•The notion of mix implies that all
the variables are interrelated and
dependent on each other.
•Lastly marketing mix is an
important ingredient in promoting
the different market segments to
further extent.

29. THANK YOU