tybcom mhrm

1. “Marketing mix is the set of marketing tools that the
firm uses to pursue its marketing objectives in the
market”
Marketing mix is a combination for the variables.
Product is the most important variables.
Price, Promotion & place of distribution are the
supporting variables. The marketing manager must use

2. FEATURES
 Combination of marketing variables
 Used by business & non – business organization
 Organizations objectives (goals)
 Dynamic concept
 Focus on customer
 Variables are interrelated
 Proper mixing of variables needs
imagination, intelligence, etc
 Interaction between marketing mix & environment variables

3. IMPORTANCE
 Helps to achieve companies Objectives
 Customer Satisfaction
 Helps to face competition
 It builds Brand loyalty
 It builds corporate Image
 It helps Business Expansion
 Helps to improve Brand image
 Optimum utilization of Resources
 Increases profit & maximizes shareholders wealth
 Helps to fulfill social Responsibilities

4. PRODUCT MIX
Product mix refers to the set of MANAGEMENT OF PRODUCTION MIX :
products which are offered for
sale by a company.  Continuous Strategy
Product mix consist of many  Product Modification Strategy
product lines  Additional (Expansion) Strategy
Product line is a group of related  Internal Resources
products which share common  External Resources
characteristics, channels, custom
 Product Elimination Strategy
ers or users
 Additional – Cum – Elimination Strategy
BREATH & DEPTH OF REASONS FOR PRODUCT MIX :
PRODUCT MIX :
 Take Advantage of Brand Loyalty
Breath means number of product  To balance the seasonal sales
lines in product mix, depth
 To face the challenges of the competitors
means the number of products in
each product  To meet the demands of the customers
 Use companies resources & capabilities more effectively

5. PRODUCT LIFE
Product have a life cycle. PRODUCT LIFE CYCLE
Some products have a PASSTHROUGH FIVE STAGES AS
short life STATED BELOW :
cycle, while, others have a
long life cycle.
All product may not pass  Product Development
through all these stages.
Product life cycle refers to  Introduction
the progression of a
products sales and profits
 Growth
over its life time.
 Maturity
 Decline

6. BRANDING
A brand is a name or symbol ESSENTIALS :
given to a product to identify
it and to distinguish it from  Simple
the competitors products.  Easy to Remember
FUNCTIONS :  Suitable
It helps buyer to identify the  Appealing
product
Creates a distinct image of the  Show the features of product
product in the minds of the  Clear
consumers
Helps to create & maintain
 Permanent Use
brand image & company image  Registration
Helps to create & maintain  Universal use
brand loyalty
It gives protection to the buyers  Easy to Pronounce
Gives a sense of pride to it  Adaptable
buyers
 Class Apart

7. BRAND
STRATERGIES :
Brand selection means to
select or choose a suitable name  Individual Names
fir a product or service.  Blanket Family Names
 In most companies, brand  Family Brand Names
selection is done by the
marketing managers.  Corporate name combined with individual
product name
But very large multi –
national companies have special  Different Brand names in International
brand managers to do a brand markets
selection  Names of founders
The brand name must be  Typical numbers
unique  Combination of names & numbers
The marketing managers has  Names with relevance to the product
most control over brand  Names of communicating Attributes
selection compared to other
marketing activities

8. BRAND
Brand extension or stretching ADVANTAGES :
means the company uses its
existing brand name for all its
products or for a similar group  Equity / popularity of the parent / existing brand name
 Consumer Acceptance
of products.
 Co –operation from Dealers
 Lower Launching costs
So when these brand names  Increases Revenue for company
becomes popular, the company  Maintains customer loyalty
extends or stretches or uses the  Creates super Brand
same brand name for its other
products DISADVANTAGES :
 Dilutes the value of parent Brand
 Brand Extension may not Always work
 Confuses the Customers
 Brand Extension loses Excitement Appeal

9.  STEPS IN BRAND POSITIONING :
BRAND  Identify competitive difference
 Product difference
 Service difference
Brand positioning means to
 Selecting important differences
give a position to the brand
 Delivery Positioning Strategy
in the minds of the
 Communicating the companies positioning
consumers.
 Follow – up of positioning
The best brand is given
first position & the worst  POSITIONING STRATEGY :
brand is given last position
 Using specific product features
 Positioning by price & quality
The brand position is
 Positioning by use
given by the consumers
 Positioning by competitor
 Positioning by product benefits
It is done by two parties :  Positioning by category user
a) manufacturer (b)  Positioning by product class
Consumer
 Positioning by cultural symbols / names

10. BRAND
Brand equity is the value of the
business above the value of
 FACTORS DETERMINING
physical assets. BRAND EQUITY :
So if the value of the business is  Brand loyalty
rs. 10 lakhs & the value of its  Brand Awareness
physical assets like land and
building are Rs. 8 lakhs then the  Perceived Quality of the Brand
brand equity is 2 lakhs
 Brand Association
The brand equity is wider than  Brand Assets
the term brand personality & brand ADVANTAGES OF BRAND EQUITY :
image . Brand equity covers all
factors TO CONSUMER : a) consumer can purchase branded
products with confidence (b) they get full information about the
branded products (c)they get full satisfaction, pleasure & pride
Today people do not buy from the branded products.
products they buy brand names. So
the brand equity is a very valuable TO MANUFACTURER : a) he can increase the price
asset of the company of his product (b)he will earn profits (c)he can do brand
extension (d)he can easily fight competition

11. PRICE MIXING OR
Pricing means fixing the price FACTORS INFLUENCING PRICE :
of a product or service
Pricing is the base of the full
marketing system. Marketing  Price of competitors Goods
management & market demand  Government control
depends on pricing.
In the present money
 Market Situation
economy, goods & services are  Aims & objectives of the company
purchased for money therefore  Characteristics of the consumer
both buyers & sellers give great
 Cost of production, selling & distribution
importance to pricing.
Buyers & sellers have  Demand
different ideas about pricing  Channels of distribution
Buyer wants the prices to be  Other factors
low while sellers want it to be  Fashion
high
 Availability of substitutes
However it should be
reasonable  Climatic Conditions
 Elasticity of Demand

12. PRICING
 Below-cost pricing
 Pricing as per customer ability to pay
 Pricing above the leaders
 Pricing below the leaders
 One price policy
 Variable price policy
 Target oriented pricing
 Psychological pricing
 Cost plus pricing
 Follow the leader pricing
 Skimming the cream policy
 Market penetration policy