Marketing Mix and Relationship Marketing Lecturer – Shahed Rahman

Introduction Basic Dish can be constructed in so many ways Marketing mix ( Product, Price, Promotion and Place) can be assembled to meet channel needs Need to know how to combine these elements to achieved the desired strategic outcomes

The product Ingredient Product is a unique bundle of intangible and tangible attributes offered to mass consumers Vehicle through which exchanges of value concurrently satisfy both buyers and seller needs Continuously evolving blending of intangible and tangible characteristics can enhance exchange of value between buyers and sellers Fusion of Attributes Product evolution Value Satisfaction

The Product Ingredient Fusion of attributes A telephone is not only a handset with a charger or microprocessors It is a bundled system that connects signals between senders and receivers Products are bundled attributes Product evolution Speed dialing option Caller identification A product evolve to meet market place needs Marketing channels must adapt to accommodate the new requirements of emerging products and service

The Product Ingredient Value Satisfaction Products needs satisfying goods and messages Marketing channel add value to those goods and services Eg. Grameen Phone – Stay close Reach Out and Touch someone

Fusion on Attributes Tangibility is the extent of which something is capable of being touched- physical characteristics of a product Tangible attributes actually exist in some physical form Generally tangible components that are bundled together and offered as a package Sometimes intangible aspects also satisfy customer needs Product have traditionally been portrayed along an attribute based scale ranging from purely tangible goods to purely intangible services

Agile Competitive Environments Marketplace in which channel members constantly modify and improve their product offerings to better satisfy changing customer needs A combination of physical and no physical attributes is aimed at meeting distinctive challenges in the exchange relationship

Product in Process The concept of agile competition requires that products continually evolve Each market offering is really product in process For example – If you don’t like the car in the showroom you can order one semi customized which will be delivered in 1 week time Product in process efforts will contribute to new and stronger customer relationship and increase brand loyalty

Value Satisfaction Value Satisfaction is a channel members perception of the benefits derived from owning or consuming the product Each product must deliver some measure of value satisfaction to both buyer and seller Different exchange partners will have different assessment of the worth of a product Channel members should transform themselves from function delivery to value delivery systems Important in building a channel relationship

Value Satisfaction Assess Customer value Provide Customer value Typing – clicking is like a old idea of using electronic goods – need a touch screen Provide Customer value Giving the touchpad or touch screen option – Ipad and Ipod Communicate customer value Whether the problems or needs has been met or not Solving customer problems or not