1. The Marketing
Process

2. MARKETING MIX - TRADITIONAL 4 Ps
The 4 Ps in marketing is termed as
Marketing Mix
The 4 Ps are:
PRODUCT
PRICE
PLACE
PROMOTION

3. & Intended Positioning
Marketing Mix
PRODUCT
PRICE
Variety
Quality
Features
Brand Name
Packaging
Services
List Price
Discounts
Allowances
Credit Period
Credit Terms
Customers
& Intended Positioning
PROMOTION
PLACE
Advertising
Sales Promotion
Public Relation
Publicity
Personal Selling
Channels
Coverage
Assortments
Locations
Inventory
Transportation

4. 4Ps
List Price
Discounts
Allowances
Credit Period
Credit Terms
PRODUCT

6. Marketing Mix
PRODUCT
It is good, service, idea, place or person that is offered to customer to satisfy his/her need
The attributes of product are variety, quality, warranty, design, packaging and service
The product is the element that get differentiated over time
Products need to be modified overtime to retain the interest of the consumer
Product is an area where frequent innovation takes place

7. PRODUCT

8. PRICE
Price is the value at which a marketer offers the product/service/idea to a customer
Price is determined by the interaction between the supplier and the customer
Supplier makes offer price based on cost and profit margin
Since the market is buyers’ market, cost determination is very important
The objective is to reduce the costs to the minimum so that the price can be competitive
Sometimes the same company may offer one product at a price lower than the cost and compensate this loss by pricing another product much more than its cost

9. PRICE

10. PLACE
PLACE
It is the distribution of goods from the factory to the target customers
It includes distributors, wholesalers, stockiest, C&F agents and retailers and are called as channel partners.
The attributes are channels, its coverage, assortments, locations, inventory and transportation
There are others too like franchisees, branches, depots, logistics support like transportation, warehousing, loading, unloading services etc

11. Place

12. PROMOTION
PROMOTION
Communicating product features and it benefits to target customers through different media is known as promotion
Some of the promotional tools are advertising, personal selling, public relations, sales promotion, sponsorship etc.

13. PROMOTION

14. PROMOTION
Communicating product features and its benefits to target customers through different medium is known as promotion.
Advertising, personal selling, public relations, sales promotion, sponsorship etc are some of the promotional tools being used in marketing.
Promotion answers questions such as how quickly the product should be brought to the notice of the customers, how persistently and how the differentiations in the products are highlighted etc.

15. Modern Components of Marketing Mix
PEOPLE
PROCESS
PHYSICAL EVIDENCE

16. PEOPLE

17. PEOPLE People are important in service marketing
Eg. the front office staff in hospitality industry, staff in a wellness care center etc
People are the real differentiators in this industry
Now service marketing has become a separate branch of study in management

18. PROCESS

19. PROCESS Many enterprises are process driven now
Now due to TQM, marketers are not merely satisfied with quality in the final product but are deeply involved in the entire processes that an enterprise follows
E.g. Carpet vendors in Germany
Process management has become more easier due to the implementation of ERP
In certain cases the difference between process and product becomes very thin
E.g. e-learning process

20. PHYSICAL EVIDENCE Giving physical evidence to intangible products
E.g. photographs of dishes displayed by a hotel,
experimental learning of the products as test use,
specifically attired attendant etc.

21. PHYSICAL EVIDENCE