Marketing Mix

Set of marketing tools which a company

use to pursue its marketing objectives
4 Ps
Marketing Mix
Product = Solution
Place = Convenience
Price = Cost
Promotion = Communication

2
Product
Some more things about PRODUCTS
Levels of Product
We take example of a Hotel

Core Benefit-
----------rest sleep
Basic Benefit-
-----------room, toilet, water, bed…
Expected Benefit-
---------clean bed, working lights fans,
clean room, running water…wrt the
price paid
Augmented Benefit-
----------Anything which exceeds
expectation
Potential Benefit-
--------Future product covering all
augmentations in the product
Product Classification

TYPE-I

DURABL NON SERVICE

ES DURABLES S
TYPE-II

CONSUMER GOODS

CONVENIEN SHOPPIN SPECIALIT

CE GOODS G GOODS Y GOODS
Product Mix
What is a Product Mix??
Set of all products & items, a particular seller
offers for sale.
Product Mix consists of all product lines.
……..e.g. SOMAIYA VIDYAVIHAR offering various
programs –Management, Engineering, commerce,
science, diploma etc…..
……..e.g. Godrej offers….various range of products
like washing machines, A.C.s, soaps, retail store,
shaving cream etc…..

8
Product Mix
Width- How many different product lines the
company carries.
Length- Total numbers of items in the line.
Depth- How many variants are offered in each item in
the product line.
Product Mix -HLL
HUL

Product Mix

Product Line 1 Product Line 2 Product Line 3

bath soaps fabric wash beverages

dove surf bru

liril rin brooke bond red label

pears wheel lipton green

rexona   taaza

lifebuoy   taj mahal

hamam    

breeze    
Product Life Cycle
New Product
Development
What is a New Product??
New to the world
Improvements & revisions of existing products-
MOBILE Phones, cars, etc….
Repositioning – Milkmaid
New Product Development Decision Process
 Idea Generation
 Idea Screening
 Concept Development
 Marketing Strategy Development-Marketing Mix – 4 Ps
 Business Analysis – Break Even, Profit & Risk Analysis
 Product Development
--------------Physical prototype & customer testing
 Market Testing
---------Pilot launch to see the performance. Sometimes skipped if the time
pressure is there to launch for seasonal product like umbrella…….
 Commercialization
----When( First Entry Parallel Entry, Delayed entry), Where (Geographic
locations) , To whom ( target segment) & How ( Marketing Strategy)
Create an Innovative Product
Eco Friendly Product &
Affordable to Masses
Name
LOGO
Punch line
Create one TV advertisement
( Each Group of 5 members)
Thank You