Professional Documents
Culture Documents
1.concept of Marketing Mix
1.concept of Marketing Mix
Course Objectives:
UNIT-I
Concept of Marketing Mix: Introduction, Traditional Marketing Mix 4Ps, and 4Cs’, Service Marketing Mix, Developing of an
Effective Marketing Mix, Managing and Designing Marketing Mix. (7hrs)
UNIT-II
Product Management: Introduction, Levels of Products, Classification of Products, Product Hierarchy, Product Mix Strategies,
Product Line Strategies, Packaging and Labeling, New Product Development Process, Why new products fail, Adoption Process,
Diffusion of Innovation, Product Life Cycle (PLC)
Brand Management: Meaning, Advantages and disadvantages of branding, Brand Equity, Brand Positioning, Brand Name Selection,
Brand Sponsorship, Brand Portfolio (8hrs)
UNIT- III
Pricing: Introduction, Factors Affecting Price Decisions, Pricing Process, Pricing Strategies, Initiating and Responding to the Price
Changes. (7hrs)
Distribution Management: Introduction, Need for Marketing Channels, Decisions Involved in Setting up the Channel, Channel
Management Strategies, Introduction to Logistics Management, Retailing Meaning, Types, Wholesaling- Meaning, Types, Multi
Channel Marketing, Vertical and Horizontal Marketing System. (8 hrs)
UNIT- IV
Promotion Management-: Introduction, Integrated Marketing Communications (IMC), Communication Development Process,
Budget Allocation Decisions in Marketing Communications, Promotion Mix, Advertising- Meaning, Objectives, Advertising
Budget Fundamentals of Sales Promotion, Public Relations, Direct Marketing, (7hrs)
UNIT-V
Recent Trends in Marketing- Rural Marketing- Meaning, Characteristics of Rural Market. Digital and Mobile Marketing
Meaning & types (6hrs)
Customer Relationship Management: Meaning, Relationship Marketing Vs. Relationship Management, Types of Relationship
Management,
S.No Significance
Courseof Customer Relationship Management .
Outcome Bloom's taxonomy
CO1. Understand and Analyze marketing for creating value with Product and price Remembering ( K1)
1
Strategy.
CO3. Understand and Analyze marketing for delivering and communicating value with
Analyzing ( K 5) / Applying ( K 4)
3 Integrated Marketing Channels and promotion strategy.
Synthesizing ( K6)
CO5.Creating and developing marketing strategies and plans for Conducting marketing
5
responsibly for long-term success
CONCEPT OF
MARKETING MIX
Flow of topic
• Introduction
• Meaning
• Concept of marketing mix
• 7p of marketing mix
INTRODUCTION
jerome Mcarthy an American
professor in marketing popularized the
marketing mix in the terms of 4ps –
products, price, promotion, and place.
the marketing concept that we
have discussed is valid for both products
and services. The marketing mix is one of
the most importance universal concept,
which has been developed in marketing.
All the variable are inter – related and
inter-dependent on each other.
Conti……
it is appropriate to reconsider the
traditional marketing mix in the concept of
services. Several authors have agreed that a
different marketing mix is needed for service,
while some have expanded the traditional 4pc of
the marketing mix to make it more appropriate
recognizing the diversity of service marketing.
the strategies for the 4pc require
some modification when applied to services due
to the special features of the services.
Conti…..
the challenges encountered by the
service marketer – like heterogeneity – the
requirement of customers, interaction with
customer while delivering service and
perishability or absence of inventory,
intangibility of offer and absence of protection
etc. necessitate the extention of the marketing
mix to include people,process,and physical
evidence. The additional prescribed Pc refer to
the activities that are essential to meet the
challenges posed by three unique
characteristics of services:
Cont……
1. simultaneity or inseparability of
service provider from customer (people)
2. the inability to hold inventory of service
marking it critical for the service process to
flow smoothly to match demand and
supply(process)
3. The need to make highly intangible service
offering appear tangible(physical evidence )
Meaning of marketing mix
“the combination of these marketing
methods or devices is known as the marketing
mix”
marketing manager is a mixer of
all marketing ingredients and he creates a mix
of all the marketing element and resources. the
marketing mix will naturally be changing
environmental factors ( technical, social,
economic, and political) affecting each market.
7P of marketing mix
1. products
2. Price
3. Promotion
4. Place
5. People
6. Process
7. Physical evidence
(1) PRODUCT
product is the thing
possessing utility. It has four
components.1product 2.service after
sales 3. brand and 4. package. The
product management evolves products
mix in consultation with marketing
manager,
(2) Price
price is the valuation placed
upon the product by the offerer. It has to
cover pricing, discounts, allowances and
terms of credit. It deals with price
competition.
(3)Place(distribution):
Distribution is the delivery
of the product and right to consume it. It
include channels of distribution,
transportation, warehousing and
inventory control.
(4) Promotion:
promotion is the persuasive
communication about the product by the
offerer to the prospect. It covers
advertising, personnel selling, sales
promotion, publicity, public relations,
exhibition and demonstrations used in
promotion. Largely it deals with non –
price competition.
(4) People