Marketing Mix

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Marketing Mix
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What is Marketing?
Marketing is the process of discovering and
translating consumer wants into products and
services and then in turn making it possible for
them to enjoy the products and services
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Marketing involves finding out what your
customers want and supplying it to them at a
profit
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Marketing v/s Selling

• Focuses on consumers needs
• Consumer enjoys supreme importance
• Product planning and development to match
  products with markets
• Converting consumer needs into products
• Cavet Vendor (let the seller beware)

• Focuses on sellers needs.
• Product enjoys supreme importance
• High pressure selling to sell goods already
  produced.
• Converting products into cash
• Cavet emptro (let the buyer beware)

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Marketing v/s Selling
Focus
Means
Objectives
Selling concept
Selling and promotion
Profits through sales volume
Products
The marketing concept calls for goal-oriented
approach. The objective is to earn profits
through customer satisfaction.
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What is Marketing Planning?

• Marketing planning is to inject the philosophy
  of consumer orientation into the total business
  system and serves as a guide to the
  organisations efforts.

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What is Marketing Mix?

• It is the combination of four inputs which
  constitute the core of a companys marketing
  system
• product,
• price structure,
• promotional activities
• distribution system

www.learnmarketing.net/marketingmix.htm
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Purpose of Marketing Mix

• The purpose of marketing mix is to satisfy the
  needs and wants of the customers in most
  effective and economical manner

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Elements of Marketing Mix
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Lets explore Marketing Mix
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Problem

• Some fast moving consumer good (FMCG) are
  experiencing a decline in the demand and thus
  losing their market share

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Your Project

• Select one Fast Moving Consumer Goods (FMCG)
  facing decline in the demand
• As a market researchers, conduct a case study of
  each aspect price, place, promotion and product
  itself
• Prepare revival strategy multimedia presentation
  of the product for the board of directors

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A Big Question

• What is the right marketing mix for your product?

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Some questions to explore

• How can we determine a right marketing mix?
• What are the factors that affect the choice of
  the channel of distribution?
• What influences the price of a commodity?
• In what ways can surveys help us to make business
  decisions?

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Project Scenario

• Stages
• Select one FMGC product facing decline in the
  demand
• Conduct survey for studying the trend of market
• Analyse the results and draw inferences
• Use online thinking tools for studying elements
  of marketing mix of your products in detail
• Suggest revival strategy for your product
• Your distribution channel. Picture it with
  diagrams.
• Your pricing strategy. Indicate the price you
  will choose.
• Your advertising program
• Your plan to improve the product considering the
  customers demand
• Create revival strategy presentation for board of
  directors

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Remember

• To work in teams
• To note down your learning in journal
• To refer to the marketing mantra score sheet for
  self evaluation

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Go ahead and master the Marketing Mantra

• All the best

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References

• http//www.freeworldacademy.com/newbizzadviser/fw1
  5.htm8