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Product Place Price Promotion

Marketing Mix
 Objective
• Explain what is Marketing Mix

• Explain the 4 Ps and 4 Cs of Marketing Mix

• Explain what is Viral Marketing

• Explain Extended Marketing Mix

• Explain 7Ps & 7Cs of Marketing Mix

• Describe the Characteristics of Marketing Mix

• Explain Marketing Planning Process

• Explain AIDA

• Explain SWOT Analysis

• Compare Old-School vs. Predictive Marketing Mix Analysis

 Introduction

???

Helium Pvt. Ltd. is Till now, it has However, now it Look at the various
a major player in majorly focussed intends to venture questions that
the field of on cosmetics into the baby come into the
cosmetics. related to skincare healthcare minds of the
of men and products. marketing people
women. at Helium.
 Introduction

What should be Which areas should What kind of How should the
the products / be first ventured pricing strategy new products be
services to be into? should be marketed /
offered? followed? promoted to make
an impact?
 Introduction

All of the above questions as well as several other questions pertaining to the
marketing of a product or service can be answered through an understanding
of the concept of ‘marketing mix’.

Let us learn about ‘marketing mix’ and its role in marketing.

What should be Which areas should What kind of How should the
the products / be first ventured pricing strategy new products be
services to be into? should be marketed /
offered? followed? promoted to make
an impact?
 What is Marketing Mix?

• • • •

‘Marketing Mix’ Marketing mix is Hence, it is a term So, by altering the So, for a high profile
refers to the primary the combination of that describes the elements within a brand, the focus on
elements that must four elements: key elements used marketing mix, the promotion is
be taken care of in Product, Place, by an organization offer you make to increased and
order to properly Price and to help meet its your customer can whereas the
market a product or Promotion. marketing be altered. weightage laid on
service. objectives. price is decreased.
 Product - Customer/Consumer
In the four Cs model, the product part of the Four Ps model is replaced by
customer or consumer which shifts the focus to satisfying the consumer.

PRODUCT
Components of a Product

•
Variety

• Quality

Design
•
•

Features
•

Brand Name
•

Packaging
Different Kinds of Pricing of Product
The different kinds of pricing of a product include:

Credit Terms
In retail, list price is
regularly quoted to
Payment Period customers before applying
discounts. List prices are
usually the prices printed
Discounts & Allowances on dealer lists, invoices,
price tags, catalogs, or
dealer purchase orders
List Price
 Setting a Price

Target Segment

Cost

Competition Society & Law:

Price should be set within societal norms
Society & Law
and legal framework defined by state and
national laws
Variant Prices

Discount Policy
 7Ps & 7Cs

1 2 3 4 5 6 7
 Achieving the Right Marketing Mix
The right marketing mix can be achieved by:

First, choosing the Second, the right

product that meets the distribution channel is Third, the firm Fourth, the price
identified need of the used to make the undertakes eye platform is acceptable
target segment product available catching promotion to the customer & firm
 Inter-relationship between Components of Marketing-mix

o
, a m ar keter has t
Hence ese inter-
id er t h
co ns
t h en d esign an
ips and
relationsh arketing mix which
m
optimum b ot h c ustomers’
of
takes care nd organisational
ments of na
fou r e l e satisfactio ectives.
The , n amely: obj
g m i x
marketin , p r omotion
p ric e
product, r e l ated with
e a r e
and plac r.
each othe

la tio n can be
o f a n inter-re n d e p ends
ple oti o
An exam t tools of prom t, the price
tha c
seen in t ure o f produ product,
e na that
upon th e charged for ich it would
b h
that can cess through w r.
pro um e
and the each the cons
r
 ManagementStudyGuide.com
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