Marketing mix/four ps of marketing

1.Product Product design,features,brand name, models Style ,appearance.quality,warranty. Package: Design type,material,size,appearance and labeling. Service:-presale and after sale, service standards, service charges.

Marketing mix/four ps of marketing

2.PlaceChannel of distribution, channel design, types of intermediaries, location of outlets, channel remuneration, dealer relations etc. Physical distribution:-transportation, ware housing, inventory levels, order processing,etc.

Marketing mix/four ps of marketing

3. Price : Pricing policies,margins,discounts,and rebates, terms of delivery, payment terms, credit terms and installment purchase facilities, resale price maintenance.

Marketing mix/four ps of marketing

4.Promotion: Personal selling, selling expertise, size of sales force. Advertising: media mix,vehicles,programmes,sales promotion. Publicity and public relations.

Marketing mix/four ps of marketing

Four Ps product price Place promotion Four Cs customer solution customer cost convenience communication

EXTENDED MARKETING MIX(7PS)

Every business is a service business. Does your service put a smile on the customers face? Examples: Dr. S. K.Sancheti. Guardian a pharmacy in Delhi. Maruti Service stations.

What is service
Services are activities or benefits that one party can offer to another that are essentially intangible and do not result in the ownership of anything. For example following are areas where services are required : Leisure time- hotel ,resort, travel agencies. Distance learning ,part time courses. Life expectancy- nursing homes, health care. Working wives- day care for children ,home delivery. Product complexity- purifiers, microwave ovens ,home computers Life complexity- tax consultant, legal advisors, property advisors. Resource scarcity and Ecology- pollution control agencies., water management.

services
1. 2. 3. 4. 5. 6. 7. 8. GATS identified as many as 155 activities as services and classified them in the following 11 major categories Business services 9.tourism Communication 10.recreation Construction and engineering 11.transport Distribution Education Environment Finance health

Difference between physical goods and services

Physical goods Tangible Production and distribution are separate from consumption A thing Core value produced in factory Customers not participate in the production process Can be kept in stock Transfer of ownership Services Intangible These are simultaneous process An activity or process Core value produced in buyer seller interaction Customers participate in the production Can not be kept in stock No transfer of ownership

Services Marketing Mix(7ps)

Traditional Marketing mix are inadequate Because: 1.Original marketing mix was developed for manufacturing industries 2.Service sector found that MM does not address their needs. 3.Services are basically different in comparison to physical products.

The first P: Service

Physical products can be inspected and tried before buying but pure services are intangible. a customer can not go to a showroom to see a medical operation that he is considering. Brand name of a service can also influence the perception of service. Besides promoting its service ,a provider should provide high quality of service consistently so that customers talk about it favorably. A strong service brand build by a combination of advertising and positive word of mouth. E.g. hotels call social club members .Jim

free trials.

Second P: promotion
The intangible elements of service may be difficult to communicate. It may be difficult to represent courtesy, hard work and customer care in an advertisement. The answer is to use tangible cues that will help customers understand and judge the service. A hotel can show the building ,swimming pool, happy staff and happy customers. Testimonials can be used to communicate service benefits. A service provider encourages potential customers to talk to current customers.

Third P: Price
Price is key marketing tool in services. price may act as an indicator of perceived quality. Companies expect a management consultant to charge high fees otherwise they can not be good. Price is an important tool in controlling demand. Bar charges heavily in the evening compare to day time. For early service people pay more.

Fourth P: Place
Distributing channels for services are more direct. There is no storage of services. New technologies permit service companies to provide services without customers coming to their facility. Information and financial services are leading this revolution. A customer can use ATM, internate or the phone.e.g.mediclaim cashless service.

The fifth P:people or internal marketing

Employees represents the organization to people. If the employees are not given training in how to go about face to face customer contact, entire marketing efforts may not prove to be effective. In service organization employees are essentially the contact personnel with the customer. Internal marketing should be broader than traditional marketing. Employees are the first internal market for the organization. Investing in people quality in a service business means investing in product quality. E.g. .Singapore airlines,

The sixth P:Physical Evidence.

A physical object is self defining a service is not. Though a customer can not see a service, but definitely he can see various tangible clues of the service offer like facilities,communication,material,object,employees,other customers, price etc. Peripheral evidence can be possessed as a part of the service purchased. In hotels , marketing town guides,notepads,book etc are peripheral evidences. Essential evidences on other hand are those which can not be possessed. for car rental service ,type of car by make and model is essential evidence. Warranties can equally be applicable in service industries.

The sixth P:Physical Evidence.

There are three elements of service evidence1.Environment. 2.communication 3.price. physical environment Ambient factors Design factor Social factors -air quality -Aesthetics -appearance -quality of scent -architecture -behavior -degree of circulation -color scheme -no. of service -material, shape. personnel -layout, comfort.

The seventh P:Process Management

Process management assures service availability with consistent quality. Without sound process management, balancing service demand with service supply is extremely difficult. Operation management decide how the process of service delivery function. Operation management is the interactive experience that would deliver the service benefits.

Assignment(oral)
Difference between Nationalized bank and Foreign bank people, motivation and service.