MARKETING MIX AND

PRODUCT
DEVELOPMENT
What appears to
your mind when you
hear the word
Product?
Why do you think people would be
willing to spend money for the following
products?
MARKETING MIX
 Setof strategies being used by the organization
to pursue its marketing objectives
 4P’S (Product, Price, Promotion, Place)
1ST P (PRODUCT)
 Product Defined
“Anything that can be offered to a market for
attention, acquisition, use or consumption that
might satisfy a want or need." (Kotler et al.,
2005 p.34)
 Three Layers
1. Core benefits/service is the simplest
characteristic of the product that satisfies the
main reason why it is being purchased.
 2. Actual Product is the tangible product that
presents the features, quality, style, branding
and packaging to the customer.
3. Augmented product is the intangible
characteristic of the product such as the service
spent to set up your gadget, the delivery, credit
card payment, warranty, and so on.
Factors to consider when developing a Product.
Factors to consider when developing a Product.
Factors to consider when developing a Product.
Factors to consider when developing a Product.
Factors to consider when developing a Product.
Factors to consider when developing a Product.
Factors to consider when developing a Product.
Factors to consider when developing a Product.