MARKETING MIX

Definition
The tools available to a business to gain the

reaction it is seeking from its target market in relation to its marketing objectives.
Marketing mix is the sole vehicle for creating and

delivering customer value

Definition
Marketing mix includes all activities and

programs which a marketer designs and carries out in his effort at winning customers, relate to one or the elements of Product, Place, Promotion and Pricing.

The Marketing Mix

Product
Process Price

Marketing Mix People Place

Physical Evidence

Promotion

FOUR Ps OF MARKETING MIX

PRODUCT
PRICE PLACE PROMOTION

MARKETING MIX
PRODUCT

Product variety Quality Design Features Brand Name Packaging Sizes Services Warranties

MARKETING MIX
PRICE
List Price Discounts Allowances Payment Period Credit Terms

MARKETING MIX
PLACE Channels Coverage Assortments Locations Inventory Transport

MARKETING MIX
PROMOTION
Advertising Sales Promotion

Personal Selling
Public Relations Direct Marketing

Extended Ps of Marketing-Mix

People

An essential ingredient to any service provision

is the use of appropriate staff and people. Recruiting the right staff and training them appropriately in the delivery of their service is essential if the organisation wants to obtain a form of competitive advantage.

People
Consumers make judgements and deliver

perceptions of the service based on the employees they interact with. Staff should have the appropriate interpersonal skills, aptititude, and service knowledge to provide the service that consumers are paying for. Many organisations aim to apply for the Investors In People accreditation, which tells consumers that staff are taken care off by the company and they are trained to certain standards.

Process

Refers to the systems used to assist the organisation in delivering the service. Imagine you walk into Burger King and you order a Whopper Meal and you get it delivered within 2 minutes. What was the process that allowed you to obtain an efficient service delivery? Banks that send out Credit Cards automatically when their customers old one has expired again require an efficient process to identify expiry dates and renewal. An efficient service that replaces old credit cards will foster consumer loyalty and confidence in the company.

Physical Evidence

Where is the service being delivered? Physical Evidence is the element of the service mix which allows the consumer again to make judgements on the organisation. If you walk into a restaurant your expectations are of a clean, friendly environment. On an aircraft if you travel first class you expect enough room to be able to lay down! Physical evidence is an essential ingredient of the service mix, consumers will make perceptions based on their sight of the service provision which will have an impact on the organisations perceptual plan of the service.

Physical Evidence

Elements of Physical Evidence: Facility Exterior

Exterior design Signage Parking Land scape Surrounding environment Interior design Equipment Signage Layout Air quality/temperature

Facility Interior

Physical Evidence
Other tangibles
Business cards Stationery Billing statements Reports Employee dress

Uniforms
Brouchers