OVERVIEW IN

BUSINESS
MARKETING

• Marketing refers to activities a company undertakes to promote the buying or

selling of a product or service
MARKETING MIX

• The marketing mix has been defined as the "set of

marketing tools that the firm uses to pursue its
marketing objectives in the target market
MARKETING MIX ( 4 P’S OR 7 P’S )

• Product • People
• Price • Process
• Place • Physical Attribute
• Promotion
PRODUCT

• A product is an item that is built or produced to satisfy the needs of a certain

group of people.
• The product can be intangible or tangible as it can be in the form of services or
goods.
PRICE

• Price relates to the amount of money charged for a product or a service or the sum of the
value that buyers exchange for the benefits of having or using the product or service

• Price is the element that

• Creates revenue in the marketing mix
• Is the most flexible in the marketing mix
• Can create most problems for the marketing personnel if not carried out correctly
PLACE

• Placement or distribution is a very important part of the product mix definition.

You have to position and distribute the product in a place that is accessible to
potential buyers.
PROMOTION

• Promotion is a very important component of marketing as it can boost brand

recognition and sales
• Brand recognition is the extent to which a consumer can correctly identify a
particular product or service just by viewing the product or service's logo, tag line,
packaging or advertising campaign.
BRANDING

• Branding is a mark of distinction that can be sensed and recognize.

It usually a name or terms, signs, symbols and design elements.

• Function of Brand
• Identifies the product or services
• Communicates message
• Functions as legal property
PENETRATION PRICING

• A low price is used as an introduction to gain customers and greater market shares with
the understanding that it will go up in the future. Mortgage providers often use
penetration pricing to get buyers to sign up to a great introductory interest rate, which
goes up over time.
BUNDLE PRICING

• Similar to optional pricing, though it’s not a case of selling one item at a dramatic
decrease, but packaging products or services together at a discount to increase sales
numbers.
• It’s like when you buy a car, and it comes with a range of optional extras—heated seats,
alloy wheels, parking sensors. You get each individual items for less than they would
otherwise be, because they’re bundled together.
PLACE

• it is how your product is bought and where it is bought. This movement could be through
a combination of intermediaries such as distributors, wholesalers and retailers. In
addition, a newer method is the internet which itself is a marketplace now.
DISTRIBUTION STRATEGIES

• Three main strategies that can be used are

• Intensive Distribution
• Selective Distribution
• Exclusive Distribution
INTENSIVE DISTRIBUTION

• This strategy may be used to distribute lower prices products that may be impulse
purchases. Items are stocked at a large number of outlets and may include things such as
mints, gum or candy as well as basic supplies and necessities.
SELECTIVE DISTRIBUTION

• In this strategy, a product may be sold at a selective number or outlets. These may include
items such as computers or household appliances that are costly but need to be somewhat
widely available to allow a consumer to compare.
EXCLUSIVE DISTRIBUTION

• A higher priced item may be sold at a single outlet. This is exclusive distribution. Cars
may be an example of this type of strategy.
PROMOTION

• promotion includes all activities that involve

communicating with the customer about the product
 and its benefits and features. Once a company has
worked on the product and price elements, it is time to
start a conversation with the consumer about the product
OBJECTIVES OF PROMOTIONAL ACTIVITIES

• Building Awareness
• Providing Information
• Creating Interest
BUILDING AWARENESS

• Often, a product or brand may need to create an identity within the market. For the most
part, this applies to a new company, a new brand or a new product. But often it may also
be needed in times of rebranding or building up a failing product. The aim then is to
select those promotional activities that help inform the customer about the company and
the product.
PROVIDING INFORMATION

• Sometimes, a company may just need to provide necessary information regarding the
product, its benefits, features or usage to the consumer. This may be the case if a 
new product is introduced into the market.
CREATING INTEREST

• If the customer is already aware of the product or has been made aware through some
activities, it becomes necessary to move them along to actual purchasing behavior. The
aim here is to identify a need that the product fulfills and make sure that the customer
recognizes this need as something that is unfulfilled for them.
• https://www.focus7international.com/2018/05/29/understanding-the-7ps-of-a-marketing-
mix/