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  • Marketing Day 2

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    Myat Hmone Nathar
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    The document discusses the marketing mix theory and its key elements - product, price, place, and promotion. It defines marketing as providing the right product at the right price through the right distribution channels and with the right promotion. It explains that consumers purchase products for their benefits, not just features, and that products have physical, functional, and wider benefit aspects. The document also covers product range in terms of width across segments and depth with options within segments.

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    The document discusses the marketing mix theory and its key elements - product, price, place, and promotion. It defines marketing as providing the right product at the right price through the right distribution channels and with the right promotion. It explains that consumers purchase products for their benefits, not just features, and that products have physical, functional, and wider benefit aspects. The document also covers product range in terms of width across segments and depth with options within segments.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    1 views8 pages

    Marketing Day 2

    Uploaded by

    Myat Hmone Nathar
    The document discusses the marketing mix theory and its key elements - product, price, place, and promotion. It defines marketing as providing the right product at the right price through the right distribution channels and with the right promotion. It explains that consumers purchase products for their benefits, not just features, and that products have physical, functional, and wider benefit aspects. The document also covers product range in terms of width across segments and depth with options within segments.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 8

    CHAPTER 1

    MARKETS &
    MARKETING

    Day 2
    Theory of Marketing Mix is based on

    • Product
    • Price
    • Place
    • Promotion

    Consumer = End-user
    Marketing Definition

    • Marketing is the ability of an


    organization to provide the right
    product, at the right price, via the right
    outlet (place) and presented in the right
    way (promotion).
    What is a Product?

    • It is what the consumer buy

    need to understand the distinction between product


    features and consumer benefits.

    • Importantly, consumers buy benefits, not


    features.
    Three product aspects

    • Physical Aspect
    • Functional Aspect
    • Wider Benefits
    Physical Aspect

    Three product aspects (levels)

    Physical Aspect
    - Components and material
    - Actual Product
    Functional Aspect
    - How product perform
    - Core product
    • Wider Benefits
    - Augmented Product

    Functional Aspect
    Wider Benefits
    Product Range

    • Width
    Car may have products in all parts, known as
    segments of luxury cars, family cars, small cheap
    cars, and so on.

    • Depth
    Wide variety of options within each segment – a
    choice of engines, colors, accessories and so on.
    Any Question?

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