Transcript Marketing Mix

Marketing Mix
What is Marketing?
Marketing is the process of discovering and translating
consumer wants into products and services and then
in turn making it possible for them to enjoy the
products and services
Discovering consumer
wants
Translating into products and
services
Customer Satisfaction
Marketing involves finding out
what your customers want and
supplying it to them at a profit
Marketing v/s Selling
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Focuses on consumer’s
needs
Consumer enjoys
supreme importance
Product planning and
development to match
products with markets
Converting consumer
needs into products
Cavet Vendor (let the
seller beware)
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Focuses on seller’s
needs.
Product enjoys supreme
importance
High pressure selling to
sell goods already
produced.
Converting products
into cash
Cavet emptro (let the
buyer beware)
Marketing v/s Selling
Focus
Selling
concept
Marketing
concept
Products
Consumers’
needs
Means
Selling and
promotion
Integrated
Marketing
Objectives
Profits through sales
volume
Profits through
consumer satisfaction
The marketing concept calls for goal-oriented approach.
The objective is to earn profits through customer satisfaction.
What is Marketing Planning?
Marketing planning is to inject the philosophy
of consumer orientation into the total
business system and serves as a guide to the
organisations’ efforts.
What is Marketing Mix?
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It is the combination of four inputs which
constitute the core of a company’s marketing
system:
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product,
price structure,
promotional activities
distribution system
www.learnmarketing.net/marketingmix.htm
Purpose of Marketing Mix
The purpose of marketing mix is to
satisfy the needs and wants of the
customers in most effective and
economical manner
Elements of Marketing Mix
Lets explore Marketing Mix
Problem
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Some fast moving consumer good
(FMCG) are experiencing a decline in
the demand and thus losing their
market share
Your Project
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Select one Fast Moving Consumer Goods
(FMCG) facing decline in the demand
As a market researchers, conduct a case
study of each aspect – price, place,
promotion and product itself
Prepare revival strategy multimedia
presentation of the product for the board of
directors
A Big Question
What is the right marketing mix
for your product?
Some questions to explore
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How can we determine a right
marketing mix?
What are the factors that affect the
choice of the channel of distribution?
What influences the price of a
commodity?
In what ways can surveys help us to
make business decisions?
Project Scenario
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Stages
 Select one FMGC product facing decline in the demand
 Conduct survey for studying the trend of market
 Analyse the results and draw inferences
 Use online thinking tools for studying elements of marketing
mix of your products in detail
 Suggest revival strategy for your product
 Your distribution channel. Picture it with diagrams.
 Your pricing strategy. Indicate the price you will choose.
 Your advertising program
 Your plan to improve the product considering the
customer’s demand
 Create revival strategy presentation for board of directors
Remember
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To work in teams
To note down your learning in journal
To refer to the marketing mantra score
sheet for self evaluation
Go ahead and master the
Marketing Mantra
All the best
References
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http://www.freeworldacademy.com/new
bizzadviser/fw15.htm#8