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The Marketing Mix

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24 views18 pages

The Marketing Mix

Uploaded by

raunak_vazir
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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http://www.bized.co.

uk

The Marketing Mix

Copyright 2006 – Biz/ed


http://www.bized.co.uk

The Marketing Mix

Copyright 2006 – Biz/ed


http://www.bized.co.uk

The Marketing Mix


• The tools available to a business to gain
the reaction it is seeking from its target
market in relation to its marketing
objectives
• 7Ps – Price, Product, Promotion, Place,
People, Process, Physical Environment
• Traditional 4Ps extended to encompass
growth of service industry

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Price

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Price
• Pricing Strategy
• Importance of:
– knowing the
market
– elasticity
– keeping an eye
on rivals
Image copyright: www.freeimages.co.uk

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Product

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Product
• Methods used to
improve/differentiate
the product and increase
sales or target sales more
effectively to gain
a competitive advantage
e.g.
– Extension strategies
– Specialised versions
– New editions
– Improvements – real or
otherwise!
– Changed packaging
Image copyright: www.freeimages.co.uk
– Technology, etc.

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Promotion

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Promotion
• Strategies
to make the
consumer aware
of the existence
of a product
or service
• NOT just
advertising

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Place

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Place
• The means by which products and
services get from producer
to consumer and where they can
be accessed by the consumer
– The more places to buy the product
and the easier it is made to buy it,
the better for the business (and the
consumer?)

Copyright 2006 – Biz/ed


http://www.bized.co.uk

People

Copyright 2006 – Biz/ed


http://www.bized.co.uk

People
• People represent the business
– The image they present can be important
– First contact often human – what is the
lasting image they provide to the customer?
– Extent of training and knowledge
of the product/service concerned
– Mission statement – how relevant?
– Do staff represent the desired culture
of the business?

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Process

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Process
• How do people consume services?
• What processes do they have to go
through to acquire the services?
• Where do they find the availability
of the service?
– Contact
– Reminders
– Registration
– Subscription
– Form filling
– Degree of technology

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Physical Environment

Copyright 2006 – Biz/ed


http://www.bized.co.uk

Physical Environment
• The ambience, mood or physical
presentation of the environment
– Smart/shabby?
– Trendy/retro/modern/old fashioned?
– Light/dark/bright/subdued?
– Romantic/chic/loud?
– Clean/dirty/unkempt/neat?
– Music?
– Smell?

Copyright 2006 – Biz/ed


http://www.bized.co.uk

The Marketing Mix


• Blend of the mix depends upon:
• Marketing objectives
• Type of product
• Target market
• Market structure
• Rivals’ behaviour
• Global issues – culture/religion, etc.
• Marketing position
• Product portfolio
– Product lifecycle
– Boston Matrix

Copyright 2006 – Biz/ed

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