EVOLUTION OF

TRADITIONAL TO
MODERN
MARKETING MIX

MARKETING MIX
The marketing mix is the combination of
marketing activities that an organisation
engages in so as to best meet the needs of its
targeted markets.
Traditionally the marketing mix consisted of 4
Ps.
In the modern concept the marketing mix
consists of 7 Ps because today marketing is
more customer oriented than before.

ELEMENTS

NO
W

COMPARATIVE ANALYSIS
PRODUCT : what are
TRADITIONAL
you marketing?
PRICE : monetary
price is a critical
factor.

PLACE : where and

how customers will
purchase products.

MODERN
PRODUCT : value
customers pay for.
PRICE : customer
satisfaction against
finite resources.
PLACE : purchase
online, delivery and
manufacture on
demand.

TRADITIONAL

MODERN

PROMOTION: creating
customers is the main
objective. It includes
advertising, direct
marketing, personal
selling, etc..

PROMOTION :
nurturing relationships
with customers is the
main objective. It
includes interactive
and integrated
marketing
communication.

Elements of modern marketing mix

Process
o It is especially to service
industries
o Processes associated with
customer service involve s a
number of processes.
o It makes marketing effective in
an organisation
o Eg handling customer
complaints, processes for

Cont.
How do people consume services?
What processes do they have to go
through to acquire the services?
Where do they find the availability of the
service?
ContactReminders
RegistrationSubscriptionForm filling
Degree of technology

People
o It includes: Employees
Management
Culture
Customer service

Cont.
People represent the business
The image they present can be important
First contact often human
what is the lasting image they provide to
the customer?
Extent of training and knowledge of the
product/service concerned.
Mission statement
how relevant?
Do staff represent the desired culture of the
business?

7 Ps OF MODERN MARKETING MIX

ELEMENTS OF MARKETING MIX

Physical evidenceis the material part of a

service. Strictly speaking there are no
physical attributes to a service, so a
consumer tends to rely on material cues.
Physical Evidence is the element of the
service mix which allows the consumer again
to make judgments on the organization.
Physical Evidence as one of the components
of the marketing mix is most useful in selling
and marketing services and intangible
products. Whenever your customer can't feel
or see your end product, then supporting
physical evidence they can see and feel

Within the new marketing mix structure this refers to

whatever the customers canseebefore purchasing.
This can include the physical environment,
packaging, supporting collateral and anything else
that helps inpresentation.

Examples
!

Satisfied customers can be the best advertisement,

with either tangible products or services. The
marketing strategy should include effectively

CONCLUSION
After analyzing the seven Ps of marketing
mix it is very evident that they are not
exhaustive. There is no such thing as Perfect
Marketing Mix, neither the modern nor the
traditional is the best always. It is about using
the right combination at the right time taking
in account the marketing environment that
determines the right choice and serves the
purpose. This is evident from the Case-study
undertaken.

ICICI BANK - CASE STUDY

ICICI
INDUSTRIAL CREDIT AND INVESTMENT
CORPORATION OF INDIA

LARGEST PRIVATE SECTOR BANK

IN MARKET CAPITALISATION.
SECOND LARGEST OVERALL IN
TERMS OF ASSETS.
LARGEST ISSUER OF CREDIT
CARDS IN INDIA.

TRADITIONAL AND MODERN

MARKETING MIX

PRODUCT

PRICING

PLACE

PROMOTION

PRODUCT
PRICING
PLACE
PROMOTION
PROCESS
PEOPLE
PHYSICAL
EVIDENCE

PRODUCTS

ACCOUNTS AND DEPOSITS

LOANS
INVESTMENT
DEMAT SERVICES
ONLINE MONEY TRANSFER
MOBILE BANKING

PRICING
Pricing decisions related to interest,
fee or commission.
Raising number of customers.
Reserve bank of India and Indian
bank association.

PLACE
Services are sold through branches.
Making promised services available
to the ultimate consumers.
It has 2035 branches and about 5518
ATMs across india

PROMOTION
ADVERTISING: Television, Radio
PRINT MEDIA: Hoardings, newspaper,
magazine.
TELEMARKETING: ICICI one source
call centre

PROCESS
.
STANDARDIZATION
CUSTOMIZATION
SIMPLICITY
CUSTOMER INVOLVEMENT

PHYSICAL EVIDENCE
FINANCIAL REPORTS
TANGIBLES
SIGNAGE

PEOPLE
Workers, employees, management
and consumers.
Employees of a bank represents the
organization to its consumers.
All people directly or indirectly
involved in the consumption of
banking services.

THANK YOU