PRESENTED BY:-CILU ANDREWSROHIT SHARMA*TOPIC:- MARKETING MIXPRESENTED TO:-PROF:-

CONTENTINTRODUCTIONDEFINATIONELEMENTS OF MARKETING MIXFOUR PS OF MARKETING MIXEXTENDED PS OF MARKETINGSIGNIFICANCE OF MARKETING MIXPRODUCT LIFE CYCLE.BIBLOGRAPHY.ANY QUESTIONSTHANK YOU.

*

INTRODUCTIONMarketing Mix Is Policy Adopted By The ManufacturesThose days, when Goods Were Matched With The MarketModern Market Concept Emphasizes Manufactures Take Various PoliciesMarketing Planning Make Use Of Marketing Information *

ContManufacturer Analyses The Nature Of The Consumers Needs Management plans to meet consumers needPrograms involve a no. of functions Marketing Department perform the operationsThe identification of demand & supply involves various functions of marketing *

DEFINATIONACCORDING TO STANTONMarketing mix is the term used to describe the combination of the four inputs which constitute the core of a companys marketing systemThe productThe price structureThe promotional activitiesThe distribution system*

ELEMENTS OR 4 PS OF MARKETINGPRODUCT It is the first element It must satisfy consumer needsManagement first decide the products to be ProducedThe Product Mix Combines a. Physical Product b. Product Services c. Brand and Packages

*

ContThe Marketing Authority Has To Decide the QualityA Firm May Offer A Single ProductNot Only The Production of right Goods But Also Their a. Shape b. Design c. Style d. Brand e. Packages etc. *

Cont..On The Basis Of Marketing Information The Marketing Authority Has To Take A Number Of Decisions As To a. Product Additions b. Product Deletions c. Product Modifications*

Cont2. PRICEIt Is The Second Element The Marked Or Announced Amount Of Money Asked From The BuyerBasic Price Alterations May Be Made By The Manufacturer May Be In The Form Of discount, Allowances etc.The Terms Of credit ,Liberal Dealings Will Also Boost Sales*

Cont3. PROMOTIONThe Product May Be Made Known To ConsumersFirms Must Undretake Promotion work a. Advertising b. Publicity c. Personal Selling etc.*

Cont..4. DISTRIBUTIONPhysical Distribution Is The Delivery Of Products At The Right Time And At The Right PlaceThe Distribution Mix Is The Combination OF Decisions Relating To a. Storage Facility b. Inventory Control c. Location d. Transportation Warehousing etc.*

4 Ps OF MARKETING MIX*PRICEList PriceDiscountsAllowancesPayment PeriodCredit TermsPROMOTIONSales PromotionAdvertisingSales ForcePublic RelationsDirect MarketingPLACELocationTransportCoverage ChannelsInventoryMarketing Mix(4ps)

EXTENDED PS OF MARKETING *

*

*

SIGNIFICANCE OF MARKETING MIX*Profitable formula for marketing operations.Co-ordination of various elements of marketing system.Link between business firm and customer.Formulation of marketing strategy.Facilitates the requirements of various types of customer.

* PRODUCT LIFE CYCLEThe product life cycle is defined as the period that starts with the initial product design (research and development) and ends with the withdrawal of the product from the market place.

Product life cycle (PLC) is to do with the life of a product in the market with respect to business and sales measures.

The stages through which individual products develop over time is called commonly known as the "Product Life Cycle".

Product life cycle is the course of a product's sales and profits over time.

The classic product life cycle has four stages (illustrated in the diagram below): introduction; growth; maturity and decline

* The Product Life CycleProduct life cycle: progression of products through introduction, growth, maturity, and decline stages

*Exercise of Effective Strategic LeadershipHow important is strategic leadership?Example 2: Wal-MartWhat is the market potential for discount retailing 1980s?In 1987, Wal-Mart marked its 25th anniversary. It had sales of $15.9 billion at 1,198stores and 200,000 employees. But that was not enough.StrategyContinue aggressive growth strategy, expand to capture opportunity, while investing inthe business to perfect the formula: Invest in the core business, (i.e. logistics, pricing, marketing, etc.) Become undisputed price leader, attracting emergent price sensitive customer Capture market share from competitors by attacking their strongholds, (some of theirvictims include: Jamesway, Hills, Montgomery Wards, Kmart???)Results Continued growth into their core-market and experimentation with market extensions(Sams Club) International expansion to further fuel growthFast ForwardWal-Mart became an undisputed champion: Operates over 2,600 Wal-Mart and 475 Sams Club stores (2003 statistics) 2002 ranked #3 on Fortunes Most Admired Company (2003 statistics)