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Marketing Mix

Prof M. R. Suresh

CONCEPT OF THE MARKETING MIX A marketing executive a "mixer of ingredients", one who is constantly engaged in fashioning creatively a mix of marketing procedure and policies in his efforts to produce a profitable enterprise.
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The List of Elements:


Elements of the Marketing Mix of Manufacturers
Product Planning: Policies procedures relating to: and

Product lines to be offered, qualities, design, etc. The markets to sell; whom, where, when and in what quantity; New product policy - research and development programme.
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Pricing: Policies and procedures relating to:


The level of prices to adopt The specific prices to adopt (oddeven etc.) Price policy e.g. one-price or varying price, price maintenance, use of list prices, etc. The margins to adopt - for company, for the trade.
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Branding: Policies and procedures

relating to:

Selection of trade marks Brand policy - individualized or family brand Sale under private brand or unbranded

Channels of Distribution: Policies and procedures relating to:


The channels to use between plant and consumer The degree of selectivity among wholesalers and retailers Efforts to gain cooperation of the trade
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Personal Selling: Policies and procedures relating to:


The burden to be placed on personal selling and methods to be employed in:

The manufacturer's organisation The wholesale segment of the trade The retail segment of the trade.

Advertising: Policies and procedures relating to:


The amount to spend - i.e. the burden to be placed on advertising The copy platform to adopt:
Product image desired Corporate image desired

The mix of advertising : to the trade, through the trade; to consumers


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Promotions: Policies and procedures relating to:


The burden to place on special selling plans or devices directed at or through the trade The form of these devices for consumer promotions, for trade promotions

Packaging: Policies and procedures relating to


Formulation of package and label
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Display: Policies and procedures relating to:


The burden to be put on display to help effect sale The methods to adopt to secure display

Servicing: Policies and procedures relating to:


Providing service needed
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Physical handling: Policies procedures relating to:


Warehousing Transportation Inventories

and

Fact finding and Analysis: Policies and procedures relating to:


The securing, analysis and use of facts in marketing operations

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The list of behavioural forces:


Market forces bearing on the marketing mix of manufacturers
Consumer Buying Behaviour, as determined by: Their motivation in purchasing Their buying habits Their living habits Their environment (present and future as revealed by trends, for environment influences consumers' attitudes toward products and their use of them) Their buying power Their number (i.e. how many)
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The Trade's Behaviour - Wholesalers' and Retailers' behaviour, as influenced by: Their motivations Their structure, practices and attitudes Trends in structure and procedures that portend change

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Competitor's Position and Behaviour, as influenced by:


Industry structure and the firm's relation thereto
Size and strength of competitors Number of competitors & degree of industry concentration Indirect competition - i.e. competition from other products

Relation of supply to demand Oversupply or Under supply


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Product choices offered to consumers by the Industry: In quality In price In service Degree to which competitors compete on price Vs non-price bases Competitors motivations and attitudes their likely response to the actions of other firms Trends technological and social, portending change in supply and demand
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The appraisal of firm resources when devising a marketing mix Long term versus short term aspects of the marketing mix The Use of the marketing mix concept:
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In problem solving the marketing mix chart is a constant reminder of:


The fact that a problem seemingly lying in one segment of the mix must be deliberated with constant thought regarding the effect of any change in that sector on the other area of marketing operations. The necessity of integration in marketing thinking is over present. The need of careful study of the market forces as they might bear on problems in hand.

Marketing, Science or Art?


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