Understanding Marketing & Branding
Some valuable insights.
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Evolution of P’s in Marketing
Classical Marketing Mix
• conceived by James Culliton in 1948
• coined as the marketing mix by Neil Borden
• declassified as the 4′s by Jerome McCarthy
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1. Product:• More than just a simple set of tangible features,
physical products as well as services.
• Split into three different levels the product can refer to either;
– the core product,
– the actual product or
– the augmented product.
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2. Price:
• Despite the increasing role of non pricing factors
in the modern marketing process,
• Price remains an important element in the
marketing mix.
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3. Placement:
• Producing a product or service and making it
available to buyers requires
• building relationships not just with customers
• but also with key suppliers and resellers in the
supply chain.
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4. Promotion:
• Represents the numerous aspects of marketing
communication, informing customers about
product benefits and carefully positioning these
in customers minds, utilising a wide range of
communication forms and mediums.
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Service Marketing 7P’s (Extended Marketing Mix)
• Service Marketing draws upon the principles of
understanding the interaction involved between
the customer and the suppler in order to
understand how to improve services and how to
build a greater rapport.
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5. People:
• For most services, people are a vital element of
the marketing mix.
• The interaction between staff and customers can
be the essential turning point between any
decision making process.
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6. Process:
• A service firm has no products, only interactive
processes – Gronroos, 2001 cited from Adrian Palmer Principles of
Service Marketing 4th Edition.
• With services, a clear distinction cannot be made
between marketing and operations
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7. Physical Environment:• Because of the intangible nature of a service this
subsequently means that potential customers are unable to judge that service before it is consumed.
• An important element of marketing planning is therefore to reduce this level of risk by offering tangible evidence of the nature of the service. –cited from Adrian Palmer Principles of Service Marketing 4th Edition.
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New Age of Marketing - Online Marketing 11 P’s of Marketing:
• With the incorporation of Web 2.0 and the
greater interaction between users and
companies via the internet and the virtual world,
the marketing mix now can utilise the following
additional 4 P’s of Marketing.Prepared by Virender Raina 11
8. Privacy: • In accordance with the rules and regulations of
data protection acts it is important especially in the online digital age.
• Privacy from unwanted spam, junk and telecommunications provides customers with a sense of anonymity and allows for more selective forms of marketing.
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9. Personal Interest: • As services are becoming more interactive,
advertising and promotion are becoming more personalised with the incorporation of personal tastes.
• Personal interests are becoming an increasing important decision making process for customers.
• Personal interests can make the difference between customer choosing a particular brand or product.
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10. Personal [e.g. Social] Networks:
• For instance Facebook, Myspace forum sites and
social media.
• These sites generate a new form of marketing
know as social media marketing.
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11. Public Commentary:• Important in the age of online trading and
entrepreneurship.
• For instance online auction sites like E-Bay, Amazon have more credibility when providing market information
• They also place a 2 directional form of communication (social exchange process)
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Technomadic Age of Marketing New Ideas and Philosophies of Trade and Commerce
• growing awareness that the statistically defined traditional markets were rapidly becoming more diverse and fragmented.
• In addition that the role of the customer is moving away from being a passive instrument in marketing towards a more engaging interactive approach.
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• “New 4Ps” model of Nomadic Marketing was developed by Idris Mootee in 2001.
• Founded a strategic innovation and experience design firm that helps Fortune 500 clients harness purposeful innovation to create new products, services and experiences.
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12. Personalization:
• Through the combination of emerging
technologies and the increasing form interaction
between customers via the internet, there is a
greater degree of customisation of products and
services.
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13. Participation:
• This allows customers to participate in what a
brand should stand for.
• What the direction of product should be and the
style of advertisements, creating a free flow of
information between customers and companies.
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14. Peer to Peer:• Social computing is becoming an increasing
disruptive form of the traditional balance in marketing, as customers bases are being replaced by active customer communities.
• Rather than the companies imposing brand awareness and advertising, it is increasingly engaging towards the customers as active instruments in the selling process.
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15. Predictive Modeling:• The neural network algorithms used in applied
marketing problems.
• In essence to try to predict the best probability of an outcome on the basis of detection theory.
• Extensively developed in analytical customer relationship management helps plan out the expectations that a customer will take a particular action.
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Recollecting all the P’s.
1. Product
2. Price
3. Place
4. Promotion
5. People
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6. Process
7. Physical Evidence
8. Privacy
9. Personal Interest
10. Personal Social Networks
11. Public Commentary
12. Personalisation
13. Participation
14. Peer to Peer
15. Predictive Modeling
BRANDS & BRANDING
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Let us watch one more short video.
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