Marketing mix example coffee shop,marketing objectives business studies,web marketing manager kolding - PDF Review

The basic major marketing management decisions can be classified in one of the following four categories, namely Product, Price, Place (distribution) and Promotion.
Product: It is the tangible object or an intangible service that is getting marketed through the program.
Promotion: This represents all of the communications that a marketer may use in the marketplace to increase awareness about the product and its benefits to the target segment. So how does a marketer strategize to attain success in a marketing program, using these 4 P’s?
Offering specificity introduces the contextual customization of what needs to be done to address the questions raised in each of these 4 Ps of Marketing.
Product mix or product assortment refers to the number of product lines that an organisation offers to its customers.
Product mix consists of various product lines that an organisation offers,  an organisation may have just one product line in its product mix and it may also have multiple product lines. The width of an organisation's product mix pertains to the number of product lines that the organisation is offering. The length of an organisation's product mix pertains to the total number of products or items in the product mix. The depth of an organisation's product mix pertains to the total number of variants of each product offered in the line. The consistency of an organisation's product mix refers to how closely related the various product lines are in use, production, distribution, or in any other manner. Product mix decision refers to the decisions regarding adding a new or eliminating any existing product from the product mix, adding a new product line, lengthening any existing line, or bringing new variants of a brand to expand the business and to increase the profitability. Product Line Decision - Product line managers takes product line decisions considering the sales and profit of each items in the line and comparing their product line with the competitors' product lines in the same markets.

Line Stretching Decision - Line stretching means lengthening a product line beyond its current range. Downward Stretching means adding low-end items in the product line, for example in Indian car market, watching the success of Maruti-Suzuki in small car segment, Toyota and Honda also entered the segment.
Upward Stretching means adding high-end items in the product line, for example Maruti-Suzuki initially entered small car segment, but later entered higher end segment. Two-way Stretching means stretching the line in both directions if an organisation is in the middle range of the market.
Line Filling Decision - It means adding more items within the present range of the product line.
This is one of the preliminary knowledge every marketer must have and is considered to be the basics of every marketing theory, which emerged henceforth.
Tangible products may be items like consumer goods (Toothpaste, Soaps, Shampoos) or consumer durables (Watches, IPods). If the price outweigh the perceived benefits for an individual, the perceived value of the offering will be low and it will be unlikely to be adopted, but if the benefits are perceived as greater than their costs, chances of trial and adoption of the product is much greater.
Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion.
Our authors are educators from top QS ranked universities and practitioners from multinational enterprises. For example, Hindustan Uni Lever offers wide width of its home care, personal care and beverage products.
Marketing managers have to decide the optimal length of the product line by adding new items or dropping existing items from the line. Intangible products are service based like the tourism industry and information technology based services or codes-based products like cellphone load and credits.

This may include any physical store (supermarket, departmental stores) as well as virtual stores (e-markets and e-malls) on the Internet. Advertising may include using specialty packaging to showcase products, utilizing promotional products for your company, or online ads.
In there very essence, the 4 Ps of marketing is actually a framework that allows the marketer to structure the value proposition of an existing product (or a new product at the time of launch) so as to garner the highest mindshare by distinctly structuring the same. Such products function in similar manner, sold to the same customer group, sold through the same type of outlets, and fall within a same price range . Width of HUL product mix includes Personal wash, Laundry, Skin care, Hair care, Oral care, Deodorants, Tea, and Coffee. This is crucial as this provides the place utility to the consumer, which often becomes a deciding factor for the purchase of many products across multiple product categories.
A certain amount of crossover occurs when promotion uses the four principal elements together (e.g in film promotion). However, that is easier said that done and many marketers fumble when it comes to playing with the real life nuances and bringing out a crisp value proposition. Every product is subject to a life-cycle including a growth phase followed by an eventual period of decline as the product approaches market saturation. To retain its competitiveness in the market, continuous product extensions though innovation and thus differentiation is required and is one of the strategies to differentiate a product from its competitors.

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