Meaning of Market

Market refers to a place where buyers and sellers gather together to enter into transaction involving the
exchange of goods and services.

it refers to a set of actual and potential buyers of a product or service.

Meaning of Marketing

By Philips Kotler:- “ marketing is the art and science of choosing target Markets and getting, keeping,
growing customers through creating delivering and ccommunicating superior customer value.

In my words “marketing is the positioning of offering better than the competitors.”

“ marketing is the delivery of standard of living”.

OR

“ marketing is the performance of business activities that direct the flow of goods and services from
producer to end user”.

marketing starts and ends with consumer.

New Concept of Marketing

It is also known as consumer oriented concept.

According to this concept marketing starts with the discovery of needs and wants of consumer and ends
with the certification of those needs and wants

According to this concept marketing is creating delivery of standard of living to the society

Marketing Mix

it refers to number of policies that are adopted by producer to launch a product in a marketing
successfully and maintain it importance in the market.

it is basically four things product, price, place and promotion, mixture of these four thing is known as 4
P’s of marketing these thing decide success or loss of any product.
Product

Product can be launch of service which can satisfy the wants of a custcustom

Product is the starting point of marketing which can satisfy the consumer

It is the base of marketing process.

what is your product, what are its varieties size? how is the packaging done? it is of which brand and
how is the branding done? All these comes under product.

Price

price is the amount of money consumer have to pay to obtain the product.

price determination of a product is most important for any business.

Selling price:- cost price/cosf of production + profit margion.

what is the price of your product? how much discount are you offering? what is your payment term? all
these comes under price.

Place

place for physical distribution include activities that make firms product available to the target
customers.

It refers to an arrangement of marketing the final product available at a place where it is required when
it is required in whatever quality it is required.

where are you selling product? where is your inventory, what is your supply chain network? what is
availability of your product? At how many place your product it is available? All these comes under
place.

Promotion

Promotion provides information regarding new product to the potential consumers.

Promotion creates attraction towards the product/service.

Through promotion demand of the product can be impression in the markmarket.

How are you taking your product to the target audience?

how are you telling your target audience that you are sell this product?

These are the “specificiton of your product All these comes under promotion.

You can do these throw ads, PR or direct marketing.

Marketing Mix Strategy of Jio

To understand thing, let’s take example this JIO.

I will not go into the history of what have the required or what have they done. I will discuss about its
produdon-price- place – promotion.

PRODUCT:- their product is 4G SISIM

PRICE:-

pricing is free in its current stage.In future there may be a plain Plan worth 150 providing unlimited STD
calls ,100 messages, 1-2 GB internet which will be more than suffsufficie. So this the way of their pricing.

PLACE :-

Earlier they were available on the at Reliance Digital storestore.

Now they have also started home delivery.

If you are buying any product from Amazon, it shows that you can buy jio SIM with this.

This is there place model. This is there supply chain network. By which way they want to reach the
consumers.

Promotion :-

so how have they done promotion?

Now they are TV ads about jio, earlier there were no TV ads about this, but still everyone had jio Sims.
They added their “marketing budget” in “pricing” which means they made their product free ano added
the cost of the product of marketing budget due to which they got mouth publicity and they were top
story the new, jio jio jio was evereverywhere.

They have not done any type of promotion, neither TV ads or anything, but still it is a successful product.

That was their promotion strategy.