Professional Documents
Culture Documents
Product attributes
1) quality
Our product is cost benefit n consumer value
added good
2) product features
Product features are competitive tool for
differentiating the company’s
product from competitor’sproducts. Our product
cheers is unique in its
features that give it edge to its competitors
1.unique in taste cause no other company is
offering a toothpaste in
chocolate flavor
2.have no side effect if a kid swallowed
accidentally while brushing
3.low in price and fine in quality
4.have promising fluoride who help in the
growth of teeth
3) product style and design
product style is the appearance of the product
and design is the usefulness of
the product. So as our product cheer is
concerned it is also unique its in
style and design too.
as shown in the pic
Marketing-Mix
According to Stanton marketing mix is a
combination of four elements
(4Ps)Product,Pricing structure, Physical
distribution system, and Promotional
activities used tosatisfy the needs of an
organization’s target market (s)and, at the
same time,achieve its marketing objectives.
Every business enterprises has to
determine itsmarketing-mix for the
satisfaction of needs of the customers.
Marketing-mixrepresents a blending of
decisions in four areas-product, pricing,
promotion andphysical distribution. These
elements are inter-related because decision
in one areausually affects actions in the
others.
The basic purpose to determining the
marketing-mix is to satisfy the needs
andwants of the customers in the most
effective manner. As the needs of
customers andthe environmental factors
change, the marketing-mix is also changed.
Thus,marketing-mix is a dynamic concept. It
concentrates on how to satisfy the needs
ofthe customers.
Marketing-mix is a combination of several-
mixes. Marketing-mix encompassesproduct-
mix (brand, quality, weight, etc.); Price-mix
(unit price, discount, credit, etc.);promotion-
mix(advertising, salesmanship and sales
promotion); and place-mix(distribution
channels, transport, storage etc)
Nature of Marketing-Mix
Marketing-mix is the marketing manager's
instrument for the attainment ofmarketing
goals. It is composed of four ingredients: (i)
product, (ii) pricing (iii)promotional activities,
and (iv) physical distribution. These
elements constitute thecore of the
marketing system of a firm. A marketing
manager implements hismarketing
strategies and policies through these
instruments.
Importance of Marketing-Mix
Marketing-mix represents a blending of four
elements, namely, product, price,promotion
and physical distribution. Determination of
marketing-mix is an importantdecision which
the marketing manager has to take. If
proper marketing-mix isdetermined, the
following benefits will accure to the
organization:
(i) Marketing-mix serves as the link between
the business firm and its customers.
Itfocuses attention on the satisfaction of
customers. Thus, it helps in
pursuingconsumer-oriented marketing.
(ii) Since marketing-mix takes care of the
needs of the customers, it helps in
increasing sales and earning higher profits.
(iii) Marketing-mix gives consideration to the
various elements of the marketingsystem.
There is a balanced relation between these
elements. For instance, the priceof a
product depends upon its features and
branding, packaging, etc. The media
ofadvertisement will depend upon the
product and its features. The channels
ofdistribution will also depend upon the
nature, utility, etc. of the product.
(iv) Marketing-mix facilitates meeting the
requirement of different types ofcustomers,
product design, pricing, promotion and
distribution will depend upon theneeds and
purchasing power of the customers. If the
requirement of customerschanges,
marketing-mix will also be changed to
satisfy their requirements.
Components and interaction of marketing-
mix
1. Product.
Product-mix involves planning, developing
and producing the right types of
productsand services to be marketed by the
firm. It deals with the product range,
durabilityand other qualities and other
features. In short, product planning and
developmentinvolves decisions about: (i)
quality of the product (ii) size of the product,
(iii) designof the product (iv) volume of the
production (v) packaging (vi) warranties and
after-sales service,
2. Price:
It is one of the most difficult tasks of the
marketing manager to fix the right price.The
marketing manager has to do a lot of
exercise to determine the price. He
shoulddetermine the price in such a way
that the firm is able to sell its
productssuccessfully. Pricing also involves
establishing policies regarding credit,
discount,delivery and payment. Right price
can be determined through pricing research
andby adopting test marketing techniques.
3. Promotion.
Promotion deals with informing and
persuading the customers regarding the
firm'sproduct. It involves decisions about
advertising, giving free articles on purchase
ofthe particular commodities, conducting
contests, role of personal selling
areimportant tools to promote the sale of
precuts of a firm. The use of
promotionalactivities like contests, free
distribution of samples etc., is also
significant. Thus, amix of advertising,
personal selling and sales promotion are
used for the promotion ofa firm and its
products. The promotional tools are briefly
described below:
(i) Advertising: Advertising is a tool which
the marketing manager uses
tocommunicate a message to consumers
through newspapers, magazines,
television,etc.
(ii) Personal Selling: Personal selling is
another means of communicating
toconsumers, and consists of direct person-
top- person interaction between
salesmanand customers.
(iii) Sales Promotion.
Sales promotion includes all the methods of
communicating with the consumers
Marketing-Mix
According to Stanton marketing mix is a
combination of four elements
(4Ps)Product,Pricing structure, Physical
distribution system, and Promotional
activities used tosatisfy the needs of an
organization’s target market (s)and, at the
same time,achieve its marketing objectives.
Every business enterprises has to
determine itsmarketing-mix for the
satisfaction of needs of the customers.
Marketing-mixrepresents a blending of
decisions in four areas-product, pricing,
promotion andphysical distribution. These
elements are inter-related because decision
in one areausually affects actions in the
others.
The basic purpose to determining the
marketing-mix is to satisfy the needs
andwants of the customers in the most
effective manner. As the needs of
customers andthe environmental factors
change, the marketing-mix is also changed.
Thus,marketing-mix is a dynamic concept. It
concentrates on how to satisfy the needs
ofthe customers.
Marketing-mix is a combination of several-
mixes. Marketing-mix encompassesproduct-
mix (brand, quality, weight, etc.); Price-mix
(unit price, discount, credit, etc.);promotion-
mix(advertising, salesmanship and sales
promotion); and place-mix(distribution
channels, transport, storage etc)
Nature of Marketing-Mix
Marketing-mix is the marketing manager's
instrument for the attainment ofmarketing
goals. It is composed of four ingredients: (i)
product, (ii) pricing (iii)promotional activities,
and (iv) physical distribution. These
elements constitute thecore of the
marketing system of a firm. A marketing
manager implements hismarketing
strategies and policies through these
instruments.
Importance of Marketing-Mix
Marketing-mix represents a blending of four
elements, namely, product, price,promotion
and physical distribution. Determination of
marketing-mix is an importantdecision which
the marketing manager has to take. If
proper marketing-mix isdetermined, the
following benefits will accure to the
organization:
(i) Marketing-mix serves as the link between
the business firm and its customers.
Itfocuses attention on the satisfaction of
customers. Thus, it helps in
pursuingconsumer-oriented marketing.
(ii) Since marketing-mix takes care of the
needs of the customers, it helps in
increasing sales and earning higher profits.
(iii) Marketing-mix gives consideration to the
various elements of the marketingsystem.
There is a balanced relation between these
elements. For instance, the priceof a
product depends upon its features and
branding, packaging, etc. The media
ofadvertisement will depend upon the
product and its features. The channels
ofdistribution will also depend upon the
nature, utility, etc. of the product.
(iv) Marketing-mix facilitates meeting the
requirement of different types ofcustomers,
product design, pricing, promotion and
distribution will depend upon theneeds and
purchasing power of the customers. If the
requirement of customerschanges,
marketing-mix will also be changed to
satisfy their requirements.