The Marketing Mix

Session 3
Xavier Institute of Management, Bhubaneswar
8/31/2014
Jeevan J Arakal- Introduction to
Marketing
1
Course Recap
Coverage of sessions 1 & 2
Session 1 definitions, concepts & orientations to the
marketplace
Session 2- actors & forces in the market environment
A comprehensive understanding vital for optimal
management of the MARKETING MIX
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Jeevan J Arakal- Introduction to
Marketing
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Session Coverage
The marketing mix
Managing the marketing process- Role of a marketing plan
Consumer Behaviour & the marketing mix
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Jeevan J Arakal- Introduction to
Marketing
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Class Discussion


What is the Marketing Mix?
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Marketing
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Marketing Mix
Product
Price
Place
Promotion
Elements of the Mix
Relative dominance of elements is possible
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Marketing
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Marketing Mix- A Definition

Controllable marketing tools-product, price, place & promotion
a firm blends to produce the response it wants from the
target market
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Marketing
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Element 1- Product

Product is anything that can be offered to a market that might
satisfy a want
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Marketing
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Product- Issues to Consider
Marketers consider various issues
Variety, quality & pricing
Design & features
Brand Name
Packaging & services
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Marketing
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The Fineprint Counts
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Element 2- Price

The amount of money needed to purchase something

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Continued
Linked to external & internal factors
Internal- costs, targets etc
External- Competition
Several steps in price setting



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Marketing
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Continued
List price & discounts instrumental conditioning
Allowances
Payment & credit terms

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Marketing
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Koutons
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Marketing
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Promotions

Any activity conducted with a view of increasing or creating an
incentive for sales

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Marketing
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Continued
Advertising Media, POPs
Consumer & trade promotions
Public relations
Emotional & rational Reclaim Your Life
Titan Industries
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Marketing
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Fast Track Virat, John & Genelia
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Marketing
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Titan & Sonata
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Marketing
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Place

Product/ service at the right place, right time, in the right
quantities at the right price
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Marketing
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Continued
A marketer needs to consider several issues
Channels
Coverage & assortment
Locations & inventory
Transporation & logistics


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Marketing
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Class Discussion


What is marketing management?
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Marketing
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A Definition

Art & Science of choosing target markets and getting,
keeping & growing customers through creating, delivering
and communicating superior customer value

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Marketing
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How does one do this?
Through- analysis, planning, implementation & control
Analysis SWOT is an option
What is a SWOT analysis?
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Marketing
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Continued
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Marketing
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Continued
Planning developing marketing plans
So, what is a marketing plan?
Implementation Carry out the plans
Control Measure, evaluate & take corrective action
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Marketing
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Class Discussion


Tailoring the Marketing Mix
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Marketing
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Question 1 What is the
Commonality?
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Marketing
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Question 2- What is the Commonality?
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Marketing
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Question 3- What is the Commonality?
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Marketing
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Question 1, 2 & 3
Key issue- Tailoring the marketing mix
Understanding the consumer/ customer behaviour is the key
Appreciating implications on the 4Ps
Iterative process

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Marketing
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Close of Session


Thank You
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Marketing
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