Let the Market Know You

Better
LEARNING OBJECTIVES:
● recognize the importance of marketing mix in
the development of marketing strategy;
● describe the Marketing Mix (7Ps) in relation to
the business opportunity;
● develop a brand name. TLE_ICTAN11/12EM-Ia1
 Marketing
•Organizations use marketing to develop and sell their
products and services.
•Most firms have a marketing department that carries
out the functions of marketing.
•The main emphasis is on the marketing mix which is the
specific combination of interrelated and interdependent
marketing activities that an organization does to achieve
its objectives.
•When we think of the marketing mix we often think of
the four P’s.
•These are sometimes called the controllable variables
because they can be manipulated by marketers.
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Marketing Mix
• the traditional approach involves the
marketing mix of McCarthy (1928) as cited
by Villet (2013): product, price, place and
promotion.
•focuses on identifying the right customers
and understanding their attitudes,
behaviors, and motivations to encourage
purchase
 Source: Adapted from McDonald (1999)

The 4P’s
Developing objectives and policies for product additions,
Product modifications and deletions. Deciding on what core product
and supplementary services to offer. Resolving issues such as
what design, branding and positioning to use.,
Developing objectives and pricing policies to be used for
Price product groups in market segments.
Developing objectives and policies for channels of
Place distribution, Resolving location issues.
Developing objectives and policies for communication with
Promotion customers. Resolving issues concerning advertising, publicity,
personal selling, sales promotion, public relations and direct
marketing
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Product

• offering, tangible or intangible

Price

• value of an offering, represented by monetary value

Place

• where the offering can be found, represented by the location where the
product can be bought

Promotion

• communication, represented by advertisements or communication tools

 4Cs: 4Ps from the Consumer’s Perspective
4Ps 4Cs
Product Customer’s needs
the needs that have to be satisfied
Price Customer’s cost
the value that has to be given up by the
customer
Place Customer’s convenience
the ease of acquiring a product
Promotion Communication to
the information that reaches the customer
consumer
 Product Levels core
benefit offering that satisfies a need
and want
Tangibl
e actual
product people will buy

Product augmented
additional benefits that a product
Intangible can offer
 durability of the product, conformance to
requirements, and performance at an
acceptable price
Quality Brand
Line extensions

Brand extensions
Product
Attributes Multi-branding
Features
physical characteristics of the product that
contributes to the benefits it offers

Design combination of how a product looks

and how it performs
Four Types of Products
offer new performance
Breakthrough Products benefits
try to claim a new space in the
Differentiated Products mind of the customer different
from the spaces occupied by
existing products
are designed, branded or packaged to
Copycat Products look exactly like that of a
well-established competitor; a cheap
imitation
Niche Products do not intend to compete with the giants
From 4Ps to the 7Ps

Promotion Phy
Plac
e Evid sical
ence

Pe
ice op
Pr le
ct

Pro
du

7Ps of Marketing

ces
Pro

s
Mix
 Source: Adapted from McDonald (1999) & Cowell (1993)

The Additional P’s

People Developing objectives and policies in relation to
behavior, attitudes, and interpersonal selling skills
in service delivery.
Physical Developing objectives and policies for the physical
evidence environment, facilitating goods and other tangible
clues.

Process Developing objectives and policies for the

processes, mechanisms and routines used to create
and deliver service.
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