SMM PPT Umesh Rao 10012024.ppthuhkjkghghx

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1. Marketing Mix : 4 Ps of Marketing 10/01/2024 Module 1 Session 5

2. Learning Objectives At the end of this session, you will be able to : Understand the concept of Marketing Mix - 4 Ps of Marketing

3. Marketing Mix : Explained

4. A marketing mix refers to a framework that uses the four Ps of Product , Price , Place, and promotion. This concept traces back to 1960, when marketing professor E. Jerome McCarthy first published it in a book entitled Basic Marketing: A Managerial Approach. Marketing Mix : Introduction

5. The different elements of a marketing mix work in conjunction with one another with the ultimate purpose of generating higher sales . In addition to the 4 Ps, three approaches can also be integrated that include people, process, and physical evidence to reinforce a consumer-centric type of marketing strategy. Marketing Mix : Introduction

6. Creating a marketing campaign starts with an understanding of the product itself. Who needs it, and why? What does it do that no competitor's product can do? Perhaps it's a new thing altogether and is so compelling in its design or function that consumers will have to have it when they see it. Marketing Mix : Product Dove Deep Pure provides the benefit of cleansing, moisturizing, scrubbing and smooth skin for the price of Rs . 90 for 50g as cost to the customer.

7. Marketing Mix : Product One tap and a car comes directly to you Your driver knows exactly where to go Payment is completely cashless

8. Price is the amount that consumers will be willing to pay for a product. Marketers must link the price to the product's real and perceived value, while also considering supply costs, seasonal discounts, competitors' prices, and retail markup. Marketing Mix : Pricing

9. In some cases, business decision-makers may raise the price of a product to give it the appearance of luxury or exclusivity. Or , they may lower the price so more consumers will try it. Marketing Mix : Pricing

10. UNIQLO, headquartered in Japan , is a global manufacturer of casual wear. Like its competitors Gap and Zara, UNIQLO creates low-priced, fashion-forward garments for younger buyers. What makes UNIQLO unique is that its products are innovative and high-quality. It accomplishes this by purchasing fabric in large volumes, continually seeking the highest-quality and lowest-cost materials in the world. Marketing Mix : Pricing

11. Place is the consideration of where the product should be available—in brick-and-mortar stores and online—and how it will be displayed . The goal of business executives is always to get their products in front of the consumers who are the most likely to buy them. That means placing a product only in certain stores and getting it displayed to the best advantage. Marketing Mix : Place OR Placement

12. The right place - Groceries must be made available at every local supermarket or the next-door kirana store. A hatchback car however, will only be available for purchase in company showrooms . The right time - Umbrellas must hit the market before the onset of monsoon season and must be available throughout the season, to be replaced with woolen caps and mufflers as winter sets in. Winter wear available in the hot months will attract negligible sales because of seasonality. Marketing Mix : Place OR Placement

13. Marketing Mix : Place OR Placement The right quantity - You buy only one LED TV set after browsing through numerous models at different digital stores, all offering appealing features at a broad price range. However , while purchasing vegetables, you visit just a handful of roadside stalls, observe only few aspects ensuring freshness of product, and buy by weight.

14. Pierce Brosnan got into a BMW Z3. Although the Z3 was not released until months after the film had left theaters, BMW received 9,000 orders for the car the month after the movie opened. Marketing Mix : Place OR Placement 1995 James Bond movie Goldeneye

15. The goal of promotion is to communicate to consumers that they need this product and that it is priced appropriately. Promotion encompasses advertising, public relations, and the overall media strategy for introducing a product. Marketing Mix : Promotion

16. The Swedish vodka brand Absolut sold only 10,000 cases of its vodka in 1980. By 2000, the company had sold 4.5 million cases, thanks in part to its iconic advertising campaign. The images in the campaign featured the brand's signature bottle styled as a range of surreal images: a bottle with a halo, a bottle made of stone etc. Marketing Mix : Promotion

17. McDonald's provides consistent fast food in a casual setting. They may expand their offerings, but they wouldn't stray far from their core identity. Marketing Mix : Other Examples : Product

18. Properly determining product price includes an analysis of the competition, the demand, production costs, and what consumers are willing to spend. Various pricing models may be considering, such as choosing between one-time purchase and subscription models. Marketing Mix : Other Examples : Price

19. Today's consumers may learn about products and buy them online, through a smartphone app, at retail locations, or through a sales professional. Marketing Mix : Other Examples : Place

20. A company might use an Instagram campaign, a public relations campaign, advertising placement, an email campaign, or some combination of all of these to reach the right audience in the right place. Marketing Mix : Other Examples : Promotions

21. How do these 4 Ps translate to the customer? [4 Ps  4 Cs  4 As ]

22. End of the Session