This PowerPoint helps students to consider the concept of infinity.
4 p,s of marketing
1.
2. Marketing –
“a social process by which individual groups obtain what they need
and want through creating offerings and freely exchanging products and
services of value with others.”
Thus, the process of marketing involves creating a market offering, to
satisfy needs and wants of the present and potential buyers.
HOW TO CREATE A MARKET OFFERING ???
3. The answer to the question is Marketing Mix.
Marketing Mix –
* is the essence of any marketing endeavour.
* is the main building block of marketing efforts of a firm.
The firm looks for having transaction with the customer, but to have a transaction
the firm has to develop a product or service, design it, pack it, name it, price it,
promote it and distribute it. All these decisions are the core of marketing mix.
4. The elements of marketing mix are classified
into four categories and through fine mixing
of these elements the superior value products
or services are created for customers.
The elements of marketing mix are also known
as -
5. Elements of Marketing Mix
“Marketing mix are the set of marketing tools that firm uses to pursue its marketing objectives in the target market.”
6.
7. PRODUCT
A product is seen as an item that satisfies what a consumer demands. It is a
tangible good or an intangible service. Tangible products are those that have an
independent physical existence. Typical examples of mass-produced, tangible
objects are the motor car and the disposable razor. A less obvious but ubiquitous
mass-produced service is a computer operating system.
Every product is subject to a life-cycle including a growth phase followed by a
maturity phase and finally an eventual period of decline as sales fall. Marketers
must do careful research on how long the life cycle of the product they are
marketing is likely to be and focus their attention on different challenges that
arise as the product moves.
9. Product
Methods used to improve/differentiate
the product and increase sales or target sales
more effectively to gain a competitive
advantage e.g. --
• Extension strategies
• Specialised versions
• New editions
• Improvements – real or otherwise!
• Changed packaging
• Technology, etc.
10. Price
Price is the value which a buyer passes on to the seller in lieu
of the product or services provided. Price is the crucial element
of marketing mix because customer is very sensitive to this
element.
13. Place
Place refers to the set of decisions that need to be
taken in order to make the product available. If the
products are not made available to the customers at
the right place at the right time then customer would
not be able to buy them.
15. Place
• The means by which products and services get from
producer to consumer and where they can be accessed by
the consumer
• The more places to buy the product and the easier it is made to
buy it, the better for the business (and the consumer?)
16. Promotion
The Promotion element of marketing mix is concerned with
activities that are undertaken to communicate with
customers and distribution channels to enhance the sales of
the firm.
The promotional communication aims at informing and
persuading the customer to buy the product and informing
him about the merits of the product.
