1. Marketing mix chapter no.3
By Gul Sayyar ACCA
11/7/2018

2. Chapter contents…… What is marketing mix? Levels of products
Classification of products
New products development process
Product life cycle stages
Packaging and labeling
Purpose of packaging and labeling
Packing as a marketing tool
By Gul Sayyar ACCA
11/7/2018

3. Marketing mix Marketing mix is the process of 4P’s. Product Price
Place
promotion
By Gul Sayyar ACCA
11/7/2018

4. product
Product— any thing which have the ability to satisfy customers requirements.
It includes physical objects, services etc…..
By Gul Sayyar ACCA
11/7/2018

5. Levels of products and services
By Gul Sayyar ACCA
11/7/2018

6. 1) The core products
The basic product which you wants to purchase for satisfaction of your needs and wants.
By Gul Sayyar ACCA
11/7/2018

7. 2) Actual product
The actual product may have as many as five characteristics that combine to deliver the core product benefits.
The characteristics are:
Quality
Feature
Design
Brand name
packaging
By Gul Sayyar ACCA
11/7/2018

8. 3) Augmented product
Any additional consumer services and benefits built around the core and actual products.
For example:
Warranty/ guarantee
After sales services
Installation
delivery
By Gul Sayyar ACCA
11/7/2018

9. Classification of products
1) consumer products
2) industrial products
By Gul Sayyar ACCA
11/7/2018

10. Consumer products
Consumer products are those bought by the final consumers for personal consumption.
It includes Burger, car, furniture, cloths etc
By Gul Sayyar ACCA
11/7/2018

11. Industrial products
industrial products are those which are purchased for further processing or for use in conducting businesses.
Industrial products include:
Raw material
Fax machine, Photostat machine
Car for business purpose
By Gul Sayyar ACCA
11/7/2018

12. New product development process
By Gul Sayyar ACCA
11/7/2018

13. New product development process
1) idea generation
2) idea screening
3) product development
4) test marketing
5) bulk marketing
By Gul Sayyar ACCA
11/7/2018

14. 1) Idea generation The process of searching for new-product ideas.
Major sources of new-product ideas are customers, competitors, suppliers etc.
By Gul Sayyar ACCA
11/7/2018

15. 2) Idea screening
Analyze all new-product development ideas and select the best idea for product development.
By Gul Sayyar ACCA
11/7/2018

16. 3) Product development
Convert the product development idea into physical product. OR
Design a product based on the best selected idea.
By Gul Sayyar ACCA
11/7/2018

17. 4) Test marketing
Introduce some samples of the new product to open market and get the feed back of customers.
By Gul Sayyar ACCA
11/7/2018

18. 5) Bulk marketing
provide the new product in large amount to the market in order to fulfill the market demand.
By Gul Sayyar ACCA
11/7/2018

19. Product life cycle stages
1) introduction stage
2) growth stage
3) maturity stage
4) decline stage
By Gul Sayyar ACCA
11/7/2018

20. 1) Introduction stage
A stage in which the new product is first distributed in market and made it available for purchase.
By Gul Sayyar ACCA
11/7/2018

21. 2) Growth stage
A stage in which the sale of the new product increases and as a result the profit as well.
Products become more profitable and companies form alliances and take each other over.
By Gul Sayyar ACCA
11/7/2018

22. 3) Maturity stage
A stage at which the sale of the new product reach to a maximum level and further sale of the new product stops.
Price wars and intense competition occur.
At this point the market reaches saturation.
By Gul Sayyar ACCA
11/7/2018

23. 4) Decline stage
A stage at which the product sales decreases and as a result, the profit also decreases.
At this point there is a downturn in the market.
For example more innovative products are introduced or consumer tastes have changed.
By Gul Sayyar ACCA
11/7/2018

24. Packaging and labeling
PACKAGING: it is the enclosing of a physical object, typically a product that will be offered for sale.
LABELING: it refers to any written or graphic communication on packaging or on a separate label.
By Gul Sayyar ACCA
11/7/2018

25. Purpose of packaging and labeling
1) physical protection: the objects enclosed in package can be protected from damage caused by physical force.
2) information transmission: information on how to use, transport, or dispose of a product is often contained on package or label. E.g. packaging of medicines etc.
3) packaging and labeling can be used by marketers to encourage buyers to purchase the products.
By Gul Sayyar ACCA
11/7/2018

26. Packaging as a marketing tool
Self service: packaging helps in self service because it identify the core product.
Consumer affluence: consumers today are prepared to pay for a little extra where they get their purchase decision made easy from packaging and labeling.
Company and brand image: packaging enables to establish a brand image in market.
By Gul Sayyar ACCA
11/7/2018

27. Cont……
Innovative opportunity: packaging brings innovative ideas in presenting the products or to bring modification in the existence product.
By Gul Sayyar ACCA
11/7/2018