The marketing mix is marketing tools that help marketer get what they need and want. The variables in marketing mix with 7ps-seven dimensions are product, price, place, promotion, personnel, physical evidence, and process. These factors make the best combination deals with services marketing. Particularly, the last 3Ps are used in service sector rather than goods. Yelkur (2000) found that the elements in the services marketing mix influence and positively effects customer satisfaction.
Retailers use communication techniques such as direct mail and email marketing campaigns are used to create interactive relationship with customers. Retailers send promotions to customers to encourage customers to use their purchasing power, customers who only buy specific types of goods and services, and customers who purchase during promotion of particular goods and services. As a result retailer 's earn profit and return. By consistently reinforcing brand image using the communication mix, retailers gain on the long run
The product marketing mix consists of the 4 P’s (Product, Pricing, Promotions and Placement) and the service marketing mix consists of the remaining 3ps(people,process, physical evidence).These are discussed in my article on product marketing mix – the 4 P’s. Let us brief up each category – Product – Products are what is delivered to the customers. It can be in the form of a good, service or an idea. What was
Customers are one of the important and paramount parts of an organization. Without the customer, the company has nowhere to take their goods and services. Notably, a company’s customers include individuals, organizations, and companies. As a result, a company is forced to create a promotion strategy in which the company attempts to create awareness of its new products in the market, an improvement on an existing as well as any changes in the organization processes that may be of interest to the customers. A promotional strategy widely focuses on raising customer awareness of a product or brand, generating sales and creating brand loyalty.
Traditionally, four Ps are associated with the marketing mix -- product, price, promotion and place. The marketing mix's importance lies in its ability to help a business determine the suitability of a product or service for a particular target consumer base. Product: The product is of course very important and the success of the business will depend largely on how good or bad it is. The decision as to the nature of the product also has to depend on its customer base as also their buying habits, geographical locations, purchasing power and other factors. Sometimes a business may want to come out with the best there is, and sometimes the same business might market a product that is for the budget customer.
This will prevent your customers from seeking convenient solutions elsewhere especially from the competition. Communication The final element in marketing mix 4c’s is communication. With this marketing mix, you do not “promote” your business; rather, you communicate value to your customers/consumers. You give your customers/consumers meaningful content to engage them. You do not just make your target audience aware of your business; you build rapport and relationship with them.
We have sales promotion, digital, direct, indirect and guerilla marketing, database marketing, public relations, product placement and events. Although the importance and relevance of all these tools differ in consumer vs business to business marketing. Sales promotion for business to consumer marketing is about enticing consumers to buy your product. It lasts for a specific period of time and includes free samples of the product, free gifts, special prices, coupons for future shopping, premium product and contests. On the contrary, business to business sales promotion are not so extensive.
Marketing covers public relations, advertising, promotions, and sales. The process of introducing and promoting the product or service into the market and inspires sales from sales is known as marketing. The act of buying or the actual deal of customers purchasing the product or service is called sales. Since the aim of marketing is to sort the product or service extensively known and renowned to the market, marketers must be imaginative in their marketing activities. In this modest nature of many businesses, getting the product observed is not that
Question no 1 Take a trip to departmental store ,Evaluate the in-store marketing effort , which categories or brands seem to be receiving the biggest in-store push? What unique in-store merchandising efforts do you see? Answer:- Marketing is a process of communicating the value of a product or service to customer. For the purpose of selling .marketing is an organizational function and a process that creates or delivers communicating value to the customers. In the store they give us a satisfaction for buying things with a proper management which helps customers, that also benefits the organization.
So I can use the two (marketing communication and promotion) interchangeably. The other three Ps are product, price, and place. It encompasses a variety of communication disciplines which are, advertising, personal selling sales promotion, public relations, direct marketing and online marketing including social media, in combination to provide clarity, consistency and maximum communicative impact. All the forms of promotion mix mentioned above each offers a different means to connect with the target audience. Their integration provides a company/ business with the best means to reach the target audience with the desired message and it enhances the value story by offering a clear and consistent message.