4 Ps of Marketing-mix

MARKETING-MIX
The term "marketing mix" was coined in 1953 by Neil Borden in his American Marketing Association presidential address.
A prominent marketer, E. Jerome McCarthy, proposed a Four P classification in 1960, which has seen wide use The marketing mix is a broad concept which includes several aspects of marketing which all inquire to obtain a similar goal of creating awareness and customer loyalty.

4 Ps & 4 Cs

Four Ps: 1. Product

Product- It is a tangible good or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units.

Intangible products are service based like the tourism industry & the hotel industry. A mass produced service is a computer operating system. Packaging also needs to be taken into consideration. Every product is subject to a life-cycle including a growth phase followed by an eventual period of decline as the product approaches market saturation.

To retain its competitiveness in the market, product differentiation is required and is one of the strategies to differentiate a product from its competitors.

Components of Product Personality

The Core or the basic constituent eg. Hyundai i20, car is the core product The associated features: design, comfort, mileage The brand name and logo: Hyundai The package and label

Levels of Product
Generic Product: eg.Rice, flour Branded Product: eg. Pillsburry Differentiated: distinct feature, eg. Sunfeast pasta Customised: as per customer, eg. PC configuration as per customer Augmented: upgraded or extended features, eg. Swift Dezire Potential: tomorrows product

Price
Price The price is the amount a customer pays for the product. The business may increase or decrease the price of product if other stores have the same product.

Promotion
Promotion represents all of the communications that a marketeer may use in the marketplace. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion. A certain amount of crossover occurs when promotion uses the four principal elements together, which is common in film promotion

Promotion
Advertising covers any communication that is paid for, from cinema commercials, radio and Internet adverts through print media and billboards.

Public relations are where the communication is not directly paid for and includes press releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events. Word of mouth is any apparently informal communication about the product by ordinary individuals, satisfied customers or people specifically engaged to create word of mouth momentum. Sales staff often plays an important role in word of mouth and Public Relations

Place
Place A way of getting the product to the consumer and/or how easily accessible it is to consumers. Any organization, before introducing its products or services into the market, conducts a market survey. The sequence of all 'P's as above is very much important in every stage of product life cycle Introduction, Growth, Maturity and Decline.

7 Ps At a Glance
Product Design Price Skimming Place Retail Promotions Ads People Employees Physical Process Environment Interface Efficiency

Technology Usefulness Value Quality Packaging Branding

Psychological Cost-plus Penetration

Wholesale Mall Internet

Publicity Mails/SMS Competition

Management Customer service Culture

Facilities Ambience Comfort Hygiene

CRM

Technolog

Direct Sale Free offers Peer-topeer MultiChannel Gifts User- trials

Marketing Mix of Nokia

Nokia is one of the leading cellular phone providers across India. Have a look at its marketing mix: 1. PRODUCT Variety: In every series of Nokia there are large numbers of sets thus large variety. Quality: Nokia gain brand personality and market shares of 35% because of its quality. Design: Nokia sets are of various designs such as flip sets, Flat sets, Slide sets, Sets with rotating Camera etc Features: Each set of Nokia has its own features. 2. PRICE Prices start from mere Rs.1200 to more than Rs. 50, 000 to suit all class of people. Nokia also offer cash allowances. It uses skimming price strategy.

 3. PROMOTION Advertising Through TV, Sign boards, Bill boards, Radio and Newspaper, Brochures, Posters Dummies and display stands Personal selling By product training to Distributer (what is product) Sale promotion Gift like Yamaha bike, Philips TV, Mitsubishi split AC, watches and digital diary, With N73 mobile offer 2500Rs original Blue tooth free With 6220 offer leather Wallet, With 6300 offer caps and shirts Public relation Nokia spot light Road shows N-gage.com for game lovers, Nokia football crazy. 4. PLACE Nokia products are available at Nokia gallery. Established mobile phone dealership. Retailers like Dixon & other electrical products suppliers.

Service Marketing Mix of Adlabs

PRODUCT: The Core Competency here is SCREENING OF MOVIES. The supplementary products / services are enormous like the Video Games Parlour & the Food Court. The ambience is pleasant with centrally air conditioning, well-illuminated layout. FAME ADLABS is well known for its DOBLY DIGITAL SOUND. PRICE: FAME uses differential or flexible pricing for its Multiplex theatres. Rates: In the multiplex averages between Rs. 90 & Rs.220 depending upon the box office performance of the movies screened. The prices are popularly estimated to be extremely fair prices for the complete entertainment experience.

PLACE It is located at Andheri, Mumbai. From the point of view of public transport its closest to Andheri station. PROMOTION Initially hyped, FAME attracted a lot of press attention and subsequently the public flocked to Andheri. However after the initial hype died down FAME did not take a more aggressive role in promotion. FAME beat IMAX by offering its clientele innovative methods of buying tickets via the MOBILE PHONES (SMS) that completely excluded the requirement of the customer to visit the theatre before the actual movie experience. The most effective way of promotion is the daily advertisements in the paper, which promote the movie, which is currently being screened in the theater, and informs the public. One of the new ways adopted in online ticket booking which is quickly becoming quite popular.

PEOPLE Courteous and well-dressed people characterize the Multiplex. The employees are highly motivated and trained and exude an aura of energy and vibrancy as they perform their duty with a smile. Therefore FAME, which attracts the upper strata of the society, is a very conducive atmosphere and a pleasant environment to enjoy a movie with the entire family. PROCESS The process is a sequence of actions to deliver the service to the customer. In this case the following is the process followed by FAME: The customer arrives to FAME by car and first goes to the pay n park to park the car. The customer then moves on to the ticket window to purchase the ticket for the movie he is interested to watch. Then the customer enters the building. Here the usher at the door checks for the tickets. Then the customer will move on to the screening area and watch the movie. In the interval the customer will mostly come out to eat or drink something from the cafeteria. The customer goes back to the screening area to continue the movie. Watching a movie at Fame Cinemas is like taking a short vacation. There is a cool ambience, quality service and convenience in booking.

PHYSICAL EVIDENCE Ambient factors Air conditioning Excellent ventilation Design factors Uniform appearance Extensive parking lot Spacious interiors Social factors Well dressed employees Courteous Elite and up market crowd Family atmosphere

Activity#2
Select any 1 product brand and 1 service brand to prepare entire marketing-mix for each one respectively.