Module - 6 Elements of The Extended Marketing Mix

Module 6
Elements of the Extended Marketing Mix
Resource Person
Mathisha Hewavitharana BBA Sp.Mktng (Col), PPG DIP. In Mktng (UK), MCIM (UK), Chartered Marketer (UK), Practicing Marketer (SL), ACMA, CGMA CIMA (UK), DBF (IBSL), AIB (IBSL), MSLIM, Reading for general MBA (Col), Manager Product Development (Finance Industry)
Chapter Contents

Introduction to Marketing Mix Product Price Place Promotion People Process Physical Evidence Integration of the Marketing Mix
Copyright 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e.
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Chapter Contents

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Marketing Mix
The Set of Controllable Variables and their levels that the firm uses to influence the Target Market Kotler & Keller Collection of Tools Used By the Marketer In Achieving Predetermined Marketing Objectives / Strategies
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Elements of Marketing Mix . . . . (7Ps)

Product Price Place Promotion
For Product Marketing

For Services Marketing Extended Elements
People Process Physical Evidence
Marketing Mix Stakeholder Marketing Assignment Option o1 1-6 Copyright 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from
the United States edition of Marketing Management, 14e.
Chapter Contents

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WHAT IS A PRODUCT ?
A product can be defines as

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PRODUCT
Core Benefits / Attributes Sought by the Customer Can be Defined As a Product Products
Tangible (Goods)
Intangible (Services)
There are Some Characteristics Which Differentiates Products From Services

Goods / Service Differentiation

Goods Tangibility Separability Standard Can be Measured Perish ability is less Ownership Services Intangibility Inseparability Variable Can not be Measured Perish ability is high No Ownership
PRODUCT
Different Types of Products o Consumer Products
o Organizational Products
Copyright : 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from Refer Page 293 294 ( Marketing Management 14th the United States edition of Marketing Management, 14e.
edition)
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PRODUCT
Product Line / Mix of the Company Product Line Product Mix
A group of products which are closely related and are sold to a similar market segment.
Collection of all product lines in the business.

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Five Product Levels
Refer : Page 292 ( Marketing Management 14th edition)

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PRODUCT
Product Life Cycle (PLC) This is the graphical presentation of different stages a particular product will move through during its economically valid life time.
o Research & Development
o Introduction o Growth o Maturity
Copyright 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from o Decline the United States edition of Marketing Management, 14e.
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PRODUCT
Product Life Cycle (PLC)
Performance
4 3 2 5 Sales Profit Time 1

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NEW PRODUCT DEVELOPMENT New Product Development is the systematic process of introducing new product concepts to the market under following three categories;
o Innovative Products
o Replacement Products o Imitative Products
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NEW PRODUCT DEVELOPMENT

Adoption of Innovation / Diffusion of Innovation
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PRODUCT
Packaging
Need for Packaging 1. Self Service Environments 2. Consumer Influence (Convenience / Appearance / Prestige) 3. Company Brand Image & Differentiation 4. Technology & Innovation 5. Legal Requirements
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Chapter Contents

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What is Price ?
Price is the exchange value / economic value / transaction value of a particular product or service. The amount a customer pays for the product. The quantity of one thing that is exchanged or demanded in barter or sale for another.
The amount of money given or set as consideration for the sale of a specified thing.
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Determining Prices
Pricing to Meet Business Objectives
Organizations are Pricing their offer with the purpose of achieving following primary objectives;
Profit-Maximizing Objective
Market Penetration Objective

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Steps in Setting Price
Select the price objective Determine demand Estimate costs Analyze competitor price mix Select pricing method Select final price
Refer : Page 352 - 364 ( Marketing Management 14th edition)
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Pricing Strategies
Market Penetration Pricing
Market Skimming Pricing
Loss Leader Pricing
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V 01/02
Pricing Strategies
Competitor Based Pricing
Cost Orientated Pricing
Psychological Pricing
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V 03 / V 04
Chapter Contents

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What Is a Marketing Channel?

A marketing channel system is the particular set of interdependent organizations involved in the process of making a product or service available for use or consumption.
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Marketing Channel Levels
Zero-level channel (direct marketing channel) One-level channel
Two-level channel
Three-level channel
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Intermediaries tend
to play a very
significant role in the process of distribution but will result in pushing up the price of the product at the point of reaching the end consumer.
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Intermediaries tend to play a very significant role in the process of distribution but will result in pushing
up the price of the

product at the point of reaching the end
consumer.
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Number of Intermediaries
Exclusive
Selective
Intensive

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E-Commerce in Managing Channel Strategy
Virtual Marketing Strategy

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V 09
M-Commerce in Managing Channel Strategy
Mobile Based Marketing Strategy

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V 11
Chapter Contents

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What is Promotion
Techniques of communicating information about the organization / products / services to stakeholders through a Communication Mix.
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Advertising Personal Selling Direct Marketing Sales Promotions Public Relations Refer : Page 429 ( Marketing Copyright 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from Management 14th edition) Sponsorships the United States edition of Marketing Management, 14e.
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Communications Process
Refer : Page 431( Marketing Management 14th edition) Copyright 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e.
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Steps in Developing Effective Communications
Identify target audience
Determine objectives
Design communications
Select channels
Establish budget
Decide on media mix

Measure results/manage IMC
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Communication Mix
o Advertising
o Personal Selling
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Communication Mix
o Direct Marketing
o Sales Promotions
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Communication Mix
o Public Relations
o Sponsorships
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V 07
Push & Pull Communication
In push communication strategy organization motivates the intermediary parties to sell more number of units to the end user.
In pull strategy organization persuades the end user / customer to pull the products from intermediaries by using promotional tools such as advertising and direct 1-40 Copyright 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from marketing the United States edition of Marketing Management, 14e.
Integrated Communication Strategy

Entire communication
strategy of the
organization must focus on a single
coherent corporate
strategy / direction by maintaining the consistency of the message.
Copyright 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-41
Chapter Contents

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People
People factor refers to .
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V 13
Chapter Contents

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Process
Process refers to .
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V 10 / 12
Chapter Contents

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Physical Evidence
Physical Evidence
refers to .
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Chapter Contents

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Integration of the Marketing Mix

All the elements of the
marketing mix must integrate

with each other element and must focus on a single
coherent corporate strategy /

direction by maintaining the consistency of the approach without confusing the stakeholders of the business.
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Chapter Contents

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Thank You !
0773 29 20 29 mathihewa@yahoo.com

Module - 6 Elements of The Extended Marketing Mix

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Module 6

Elements of the Extended Marketing Mix

Elements of Marketing Mix . . . . (7Ps)

For Product Marketing

People Process Physical Evidence

A product can be defines as

There are Some Characteristics Which Differentiates Products From Services

Goods / Service Differentiation

Collection of all product lines in the business.

Five Product Levels

Refer : Page 292 ( Marketing Management 14th edition)

4 3 2 5 Sales Profit Time 1

NEW PRODUCT DEVELOPMENT

Market Penetration Objective

Steps in Setting Price

Market Penetration Pricing

Market Skimming Pricing

Loss Leader Pricing

Competitor Based Pricing

Cost Orientated Pricing

What Is a Marketing Channel?

Marketing Channel Levels

Zero-level channel (direct marketing channel) One-level channel

Marketing Channel Levels

Marketing Channel Levels

up the price of the

Refer : Page 383 ( Marketing Management 14th edition)

E-Commerce in Managing Channel Strategy

Virtual Marketing Strategy

M-Commerce in Managing Channel Strategy

Mobile Based Marketing Strategy

Steps in Developing Effective Communications

Identify target audience

Decide on media mix

Push & Pull Communication

Integrated Communication Strategy

Integration of the Marketing Mix

marketing mix must integrate

coherent corporate strategy /

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