MARKETING MIX

MARKETING MIX
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• Marketing mix is a unique blend of product, price, place
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(distribution) and promotion strategies referred as the
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four Ps designed to produce mutually satisfying exchanges
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with the customers in the target market.
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• Marketing managers develop marketing strategies to gain
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advantages over competitors and best serve the needs and
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wants of a particular target market segment.
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• By deploying elements of the marketing mix, marketing
managers can fine-tune the customer offering and achieve
competitive success.
 MARKETING MIX

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• Successful marketing mixes have been carefully designed to
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satisfy target markets. Ex: Lux and Dove
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- Both may appear to have roughly identical marketing mixes
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because they are both in the personal care soap business.
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However,
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• Lux always been portrayed asubeauty soap,
showcased as a mild ande n A M while Dove is
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moisturising
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soap.
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• Lux always used film Rcelebrities to endorse the brand, but
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Dove uses ordinary
• Lux is priced as a value for money soap but Dove charges a
premium price
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 MARKETING MIX

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 MARKETING MIX
Product strategies
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• Product strategy is the first and heart of theImarketing mix
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• One can not design a place strategy, decide G on a
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promotion campaign, or set a pricepwithout
product to be marketed. G o
• The product includes not n u the physical
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package, warranty, after-sale
company image, rvalue, G other factors
service, brand name,
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 MARKETING MIX
Product strategies
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Ex: A Titan watch has many product elements:
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- The watch itself, shopping experience offered at the exclusive
outlets,
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- Customer satisfaction guarantee, a reflection of warmth,
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elegance(class) and style, and
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- The trust and prestige of the Titan brand name.
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• Customers buy not only for what products do (benefits)
but also, for
what they mean to us (status, quality, or reputation).
 MARKETING MIX
Place (Distribution) Strategies
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• Place, or distribution, strategies are concerned
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making products available when and where
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want them.
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• It involves all the business activities concerned with storing
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and transporting raw materialsn A M
or finished products.
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• The goal is to make sure products reaches in usable
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condition at designated places when needed by customers.
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Promotion Strategies ,
• Promotion's role in the marketing mix is toIM
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about mutually satisfying exchanges lwithG bring

pa customers

reminding them of the benefitsG o

in target markets by informing, educating,
of company's
and

product and persuadingnthemu toAbuy M the product.

• Promotion includes.V e T
strategiesIof
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relations, sales-promotion, and personal selling.
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Pricing Strategies
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• Price is often the most flexible of the four Ps-the
quickest element to change
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• Price is an important competitive weapon and is very

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important to the organization M
to generate
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revenue
and profit.
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• It includes deciding on MRP, discounts, offers,
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payment period,
 Extended MARKETING MIX Services
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• PEOPLE
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• PROCESS
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• PHYSICAL EVIDENCES
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THANK YOU
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