Concept of marketing mix

CONCEPT OF MARKRTING MIX

BY
MANISHA VAGHELA

vaghela_manisha13@yahoo.co
BY:MANISHA VAGHELA 1
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Flow of presentation
• Introduction
• Meaning
• Concept of marketing mix
• 7p of marketing mix
• Review of topic
• Bibliography

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INTRODUCTION
jerome Mcarthy an American
professor in marketing popularized the
marketing mix in the terms of 4ps – products,
price, promotion, and place.
the marketing concept that we
have discussed is valid for both products and
services. The marketing mix is one of the most
importance universal concept, which has been
developed in marketing. All the variable are
inter – related and inter-dependent on each
other.
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Conti……
it is appropriate to reconsider the
traditional marketing mix in the concept of
services. Several authors have agreed that a
different marketing mix is needed for service,
while some have expanded the traditional 4pc of
the marketing mix to make it more appropriate
recognizing the diversity of service marketing.
the strategies for the 4pc require
some modification when applied to services due
to the special features of the services.
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Conti…..
the challenges encountered by the
service marketer – like heterogeneity – the
requirement of customers, interaction with
customer while delivering service and
perishability or absence of inventory,
intangibility of offer and absence of protection
etc. necessitate the extention of the marketing
mix to include people,process,and physical
evidence. The additional prescribed Pc refer to
the activities that are essential to meet the
challenges posed by three unique
characteristics of services:
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Cont……
1. simultaneity or inseparability of
service provider from customer (people)
2. the inability to hold inventory of service
marking it critical for the service process to
flow smoothly to match demand and
supply(process)
3. The need to make highly intangible service
offering appear tangible(physical evidence )

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Meaning of marketing mix
“the combination of these marketing
methods or devices is known as the marketing
mix”
marketing manager is a mixer of
all marketing ingredients and he creates a mix
of all the marketing element and resources. the
marketing mix will naturally be changing
environmental factors (
technical, social, economic, and political)
affecting each market.
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7P of marketing mix
1. products
2. Price
3. Promotion
4. Place
5. People
6. Process
7. Physical evidence
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(1) PRODUCT
product is the thing
possessing utility. It has four
components.1product 2.service after
sales 3. brand and 4. package. The
product management evolves products
mix in consultation with marketing
manager,

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(2) Price
price is the valuation placed
upon the product by the offerer. It has to
cover pricing, discounts, allowances and
terms of credit. It deals with price
competition.

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(3)Place(distribution):
Distribution is the delivery
of the product and right to consume it. It
include channels of distribution,
transportation, warehousing and
inventory control.

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(4) Promotion:
promotion is the persuasive
communication about the product by the
offerer to the prospect. It covers
advertising, personnel selling, sales
promotion, publicity, public relations,
exhibition and demonstrations used in
promotion. Largely it deals with non –
price competition.
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(4) 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. Consumers make judgments and
deliver perceptions of the service based on the
employees they interact with.

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Cont….
Staff should have the appropriate
interpersonal skills, attitude, andservice
knowledge to provide the service that
consumers are paying for. Many British
organizations 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.

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(6) Process:
the process element of the
service marketing mix is concerned with the
way in which the service delivered to the
customer. This has two points of interest to
the service marketer.
First, the inseparability characteristic of
services has an important implication for how
the service company‟s personnel deliver the
service to the customer and how the customer
participates in the service delivery process.

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cont
secondly, the „auxiliary‟ aspect of the
service that is the added valve of the
service, becomes an important
competitive weapon in differentiating the
service from competitors when the
service is experience by customers.
Example: how process can be used to
competitive advantage is through the
marketing of financial service.
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(7) Physical evidence
the relative intangibility of many
services makes it important to pay attention to
tangibles. Sometimes, the tangibiling of
intangible services may help to market them
better. ( for example, brochures of a vacation
destination can create images about the place, and
may end in a desire to visit the place.) Physical
evidence are those tangible clues which the
customer may receive during the process of
receiving the service, which „verify either the
existence or the completion of a service‟.

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Cont….
Further physical evidence can be categorized
into- two peripheral evidence and essential.
• Peripheral evidence : Is usually „possessed as part
of the purchase of a service, but it has little or no
independent value‟. E.g. a check book which is
not of any use without the funds transfer and
storage service that it represent.
• Essential evidence : unlike peripheral evidence it
cannot be possessed by the consumer.
However, essential evidence may be „so dominant
in it‟s
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Cont….
the physical evidence that a
service provider presents is not limited to
building, but to the appearance of people,
stationary, bills sent to customers, visiting
cards and any tangible evidence that may
result in an impression being formed
about the service brand. Of course, there
may be cultural factor at play too.

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Cont….
impact on service purchase and use that it
must be consider virtually an element in its
own right.

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Summary
the controllable variables of the firm
product, price, place, place, promotion of the
product marketing are inadequate for
marketing services. The special features of the
service marketing have brought about the need
for the extended marketing mix – people,
process, and physical evidence. Because of the
inseparability of the service production and
consumption, the customer is subjected to
direct experience of the production process,
this also include the interaction with the front
line staff, services being intangible needs to be
tangibilized through the physical evidence.
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Review of topic
• Introduction
• Meaning
• Concept of marketing mix
• 7p of marketing mix

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Bibliography
(1) Services marketing
Another
Rajendra nargundkar
(2) Marketing management
Anther
S.A . Sherlekar
Publish by Himalaya publishing house

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Concept of marketing mix

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