MARKETING

MARKET
• A market is nothing but a place where potential buyers
and sellers meet to exchange the goods and services.
Here, both the parties play a significant role in fixing
the prices, where the buyers determine the demand
and seller determines the resources.
• Traditionally, the market is a confined place where you
go physically (bazaar or a shopping mall) at a particular
time and make the purchases. But today, with the
invention of E-commerce the definition of the market
has changed drastically, giving customers an array of
items to choose from under one roof.
• Customers can buy things from various online portals
anytime and anywhere.
 MARKETING

Marketing is a comprehensive term that involves all the activities, research,

designing, pricing, promotion, transportation and distribution.
The term marketing is divided into 4Ps, product, place, price and promotion. These
4P’s helps the marketer to determine a customers’ requirement, according to which
they will fulfill their demand and satisfy their need.
The main aim of marketing is to create, build and maintain a relationship with the
customers and deliver the best customer experience.
MARKET MARKETING Marketing is a
A place where buyers method that
and sellers meet to determines human
exchange goods and nature, their demand
services and a need to satisfy
them

It is a process of
It is a process where
researching,
the demand and
analysing, creating
supply fix the price of
and delivering the
a commodity
best to the customer.

Marketing is a
comparatively bigger
Market is a confined
concept that includes
concept
a wide range of
activities

The market varies by Marketing remains

product, place, same irrespective of
demand product

Target audience can Target audience can

be anyone be specific
 MARKETING MIX

Marketing Mix is a set of marketing tool or tactics, used to promote a

product or services in the market and sell it. It is about positioning a
product and deciding it to sell in the right place, at the right price and
right time.
 PRODUCT MIX
• Product Mix, product assortment, or product
portfolio is the categories of products that a
firm offers. In other words, the product mix is
the number of product lines a firm has under
its umbrella.
• There could be one or more products under a
product line. All the product lines together
constitute a product mix.
 Dimensions of Product Mix
Width-The number of product lines that a firm has suggested is what is
called the width of a product mix.

Length-The length refers to the products in a product mix. For instance,

if a company has 4 product lines, and under each product line, it has
four products each, then the length of the company’s product is 16.

Depth-It is the total number of variations of a product in a product line.

The differences can be in the form of size, flavor, or any other product
characteristic

Consistency-It means the relationship between the products in a

product mix. The relation is mainly about the production and
distribution channels. More consistency is advantageous for a company
as it would mean lower costs and better distribution. Moreover, more
compatibility also means brand image aligning with the products that a
company makes.
 Age

Financial
Position
Factors
affecting
product
mix
Brand
Identity

Area Of
Operation
 PRICE MIX
Price is the Price mix is the
amount of money combination of Price mix greatly
customers have different ‘price- influences a
to pay to obtain a related variables’ business’s growth
product It is the determined by a and survival,
economic value producer to fix prosperity and
of a product the price of the profitability,
expressed in product or service and brand image.
monetary terms. he offers.
 Factors Influencing Price Mix

• Costs
INTERNAL • Price objectives

• Market & Demand

EXTERNAL • Competition
• Govt & legal regulation
 PRICING STRATEGIES

Price Psychological
Cost based
Skimming pricing

Competitor Premium Bundle

based pricing pricing pricing
 PROMOTION MIX

A promotion mix is a set of different marketing

approaches that marketers develop to optimize
promotional efforts and reach a broader
audience. The marketer’s task is to find the right
promotion mix for a particular brand.
 Advertising

COMPONENTS
Public OF Direct
relations PROMOTION selling
MIX

Sales
promotion
PROMOTION MIX BEST PRACTICES
Identify the
target audience

Monitor
Follow a five P’s
marketing
rule
trends

Provide people
Implement
with useful
segmentation
information

Use
Rely on the
appropriate
right promotion
marketing
mix elements
channels
 PLACE MIX
• Place mix or distribution mix is an
arrangement of channels, both physical and
non-physical, through which the product is
made available to customers for purchase.
• It’s about making available the right product
with the right approach, in the right spot, at
the right time, in the right form, and to the
right customers.
 Place mix components
• Order processing
Physical • Transportation
• Warehousing
distribution • Inventory control

• Direct channel
Channels of • Indirect channel
distribution
Factors affecting place mix
Nature of
product

Environment Nature of
Consideration market

Intermediaries Nature of
Consideration company
 THE 3 P’S OF MARKETING MIX
• People, in the marketing mix, refers to anyone directly
or indirectly involved in the business side of the
PEOPLE enterprise. That means anyone involved in selling a
product or service, designing it, marketing, managing
teams, representing customers, recruiting and training.

PHYSICAL • Process refers to the flow of activities or mechanism

that take place when there is in an interaction between
EVIDENCE the customers and the businesses.

• Physical evidence in marketing mix refers to the

physical environment that is experienced by the
PROCESS customers at the time of interaction with the business.
It means the place where the products or services are
offered.
 SWOT ANALYSIS

SWOT (strengths, weaknesses, opportunities, and threats) analysis is a

framework used to evaluate a company's competitive position and to develop
strategic planning. It assesses internal and external factors, as well as current
and future potential.
SWOT analysis is a strategic planning technique that provides
assessment tools.

Identifying core strengths, weaknesses, opportunities, and threats leads

to fact-based analysis, fresh perspectives, and new ideas.

A SWOT analysis pulls information internal sources (strengths of

weaknesses of the specific company) as well as external forces that may
have uncontrollable impacts to decisions (opportunities and threats).

SWOT analysis works best when diverse groups or voices within an

organization are free to provide realistic data points rather than
prescribed messaging.

Findings of a SWOT analysis are often synthesized to support a single

objective or decision that a company is facing.
 QUESTIONS
• Define Marketing? Explain the marketing mix
• What is Product mix? Explain its components
• What is Price mix? Explain the factors affecting
pricing decision.
• What are the different pricing strategies?
• What is Place mix? Explain the different channels
of distribution
• What is Promotion mix? Explain the different
methods of promoting a product or service.
• Explain in brief the concept of ‘People’, ‘Process’
and Physical evidence in marketing mix.
• What is SWOT analysis? Explain its components.
ALL THE BEST