How is the marketing mix used to support branding,viral marketing disadvantages,free hindi movie video song - Review

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To change the color of any specific shape of this matrix, just select that shape and use tools in Drawing Tools submenu.
You can copy this slide to your existing slide, use CTRL+A shortcut to select everything and then copy it to your slide, but have in mind that color scheme may change. The Marketing Mix model, or marketing strategy (also known as the 4 P’s) is widely used by marketers as a tool to assist in implementing the marketing strategy. 4P’s of marketing (McCarthy, 1960): combination of product, price, place (distribution) and promotion. Booms and Bitner (1980) add 3 Ps (participants, physical evidence and process) to the original 4 Ps to apply the marketing mix concept to service. All other trademarks, logos and registered trademarks are properties of their respective owners. This slide is actually an matrix, there are four parts, one for every of 4 elements of marketing mix – product, promotion, price and place.
The diagrams consist of colored circular shapes for each ‘P’ (central idea being the ‘Marketing Mix’ name). Managers use this conceptual framework to attempt to generate the optimal response in the target market by blending 4 (to 7) variables in an optimal way.
It’s full customizable, creating of an impressive presentation has never been easier.
For help with your template you have a support section where you can ask any questions about the template you bought, we’ll answer within 12 hours. Thus when a buyer engages in a market transaction he perceives a bundle of benefits and satisfactions to be derived from that transaction.
I suggest circulating proposed meeting minutes prior to your next meeting so council members may review them in advance.
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The marketing mix is the convenient means of organizing all the variables controlled by the marketer that influence transactions in the marketplace. The TDC asked Commissioner Dailey to convey its specific concerns about the way the BCC has directed spending of the 4th cent as well as its expenditures of TDC reserves.A  Concerns about the BCC spending funds for COCA, $300,000A for Goodwood and depleting reserves was mentioned on by multiple members of the Council. This marketing template can be used for various purposes, from academic research to real business meetings and presentations. A Three additional agenda items were requested: (1) Mickey Brady wanted to discuss the proposed 5th cent. The marketing mix process then is a constant one of fashioning and reshaping the component elements in response to changing market circumstances and needs.Inevitably there is much overlap and interaction between the various components of a marketing mix.
Decisions cannot be made on one component of the mix without considering their impact upon the other components.Also the precise elements and their importance within any marketing mix at any point in time will vary. The outline that follows therefore indicates some of the key areas to which marketing managers need to devote their attention in formulating their marketing mixes for services markets. He emphasized to fellow BCCa€™s the need to evaluate a€?alla€? spending on a regular basis.A  As shown by comments of the Council, it has very specific concerns about the 4th cent, COCA and Goodwood type expenditures that do not regenerate bed taxes. Product: The service product requires consideration of the range of services provided, the quality of services provided and the level of services provided.

Attention will also need to be given to matters like the use of branding, warranties and after-sale service.
Price: Price considerations include levels of prices, discounts allowances and commissions, terms of payment and credit. Price may also pay a part in differentiating one service from another and therefore the customers perceptions of value obtained from a service and the interaction of price and quality are important considerations in many service price sub mixes.3. Place: The location of the service providers and their accessibility are important factors in services marketing.
Accessibility relates not just to physical accessibility but to other means of communication and contact. Also, because services are intangible customers will often be looking for any tangible cue to help them understand the nature of the service experience.These facts have led services marketers to conclude that they can use additional variables to communicate with and satisfy their customers. In addition to the traditional four Ps, the services marketing mix includes people, physical evidence, and process.5.
All of the human actors participating in the delivery of a service provide cues to the customer regarding the nature of the service itself.
How these people are dressed, their personal appearance their attitudes and behaviors all influence the costumers perceptions of the service.The service provider or contact person can be very important. In fact, for some services, such as consulting, counselling, teaching, and other professional relationship – based services, the provider is the services. In other cases the contact person may play what appears to be a relatively small part in service delivery, for instance, a telephone installer, an airline baggage handler, or an equipment delivery dispatcher. Yet research suggests that even these providers may be the focal point of service encounters that can prove critical for the organization.6. Physical Evidence: The environment in which the service is delivered and where the firm and customer interact, and any tangible components that facilitate performance or communication of the service. The physical evidence of service includes all of the tangible representations of the services – such as brochures, letterhead, business cards, report formats, signage, and equipment. Especially when consumers have little on which to judge the actual quality of service they will rely on these cues just as they rely on the cues provided by the people and the service process. Process: The actual procedures, mechanism and flow of activities by which, the service is delivered the service delivery and operating systems. The actual delivery steps the customer experiences, or the operational flow of the service, will also provide customers with evidence on which to judge the service.Some services are very complex, requiring the customer to follow a complicated and extensive series of actions to complete the process. None of these characteristics of the service is inherently better or worse than another.Rather, the point is that these process characteristics are another form of evidence used by the consumer to judge service.
For example, two successful airline companies, Southwest in the United States and Singapore Airlines, follow extremely different process models. Southwest is no-frills (no food, no assigned seats), no exceptions, low-priced airline that offers frequent, relatively short length domestic flights.All of the evidence it provides is consistent with its vision and market position. It is also a very important component of a marketing plan as it determines your firm’s profit and survival. Singapore Airlines, on the other hand, focuses on the business traveler and is concerned with meeting individual traveler needs.
Adjusting the price of the product has a big impact on the entire marketing strategy as well as greatly affecting the sales and demand of the product. Thus, its process is highly customized to the individual, and employees are empowered to provide nonstandard service when needed.

If a company is new to the market and has not made a name for themselves yet, it is unlikely that your target market will be willing to pay a high price.
Wherever possible the services marketing manager will need to research and analyses the characteristics of the markets served. Although they may be willing in the future to hand over large sums of money, it is inevitably harder to get them to do so during the birth of a business. Always remember that a low price usually means an inferior good in the consumers eyes as they compare your good to a competitor.
Consequently, prices too high will make the costs outweigh the benefits in customers eyes, and they will therefore value their money over your product. In services marketing adaptations and adjustments may be required, although the processes of devising marketing strategies and formulating marketing mixes are similar irrespective of market type.3. In the analytical stage preceding strategy formulation, common questions posed about all products may give rise to different answers for services.4. When setting the product price, marketers should consider the perceived value that the product offers. There are three major pricing strategies, and these are: Market penetration pricing Market skimming pricing Neutral pricing Here are some of the important questions that you should ask yourself when you are setting the product price: How much did it cost you to produce the product? Do you think that the slight price decrease could significantly increase your market share?
Promotion is comprised of various elements like: Sales Organization Public Relations Advertising Sales Promotion Advertising typically covers communication methods that are paid for like television advertisements, radio commercials, print media, and internet advertisements. This includes press releases, exhibitions, sponsorship deals, seminars, conferences, and events. Word of mouth is an informal communication about the benefits of the product by satisfied customers and ordinary individuals.
Harnessed effectively and it has the potential to be one of the most valuable assets you have in boosting your profits online. An extremely good example of this is online social media and managing a firm’s online social media presence. In creating an effective product promotion strategy, you need to answer the following questions: How can you send marketing messages to your potential buyers?
It is important to devise a plan that balances profit, client satisfaction, brand recognition, and product availability. It is also extremely important to consider the overall “how” aspect that will ultimately determine your success or failure. The ultimate goal of business is to make profits and this is a surefire, proven way to achieve this goal. I think branding is entirely different concept and that built with special attributes the business products have.

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