The four marketing mix variables,software editing audio ubuntu,creating video using images - Plans Download

12.12.2014
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Business and its supporting branches of information dissemination, connection, and contact, are no longer practical in the era of interactive media.
In its sixth Communication and Public Relations Generally Accepted Practices (GAP) study produced by the Strategic and Public Relations Center at the USC Annenberg School for Communication & Journalism, it appeared as though a clear winner was crowned in the tug of war for social media governorship. If you believe the information contained within this study, PR is a clear beneficiary of the strategies and purse strings that drive corporate social media. The truth is that while we control the top down aspects of branding, it is the people who define our stature in social media today. So in the great debate as to social media ownership, for the time being, it appears as though it’s not created, but co-created. The socialization of media begets an approach that’s reverse engineered in order to affect the culture of our organization to inspire relevance in our markets and in turn, socialize the outbound efforts that connect products, services, and communications across every impacted branch of our business. A hybrid approach is required to ensure that engagement is focused and genuine in order to meet the needs and expectations of today’s social consumer.
Social networks and the prevailing cultures within each foster interaction and reward active contributors with visibility and connectedness. The Four P’s represent the variables controlled by a marketing manager as dictated by the internal and external dynamics of the market ecosystem. As content production and dissemination is democratized and influence is equalized accordingly, a new “P” is necessary to ensure the integrity of the existing 4 P’s. The innovation transpiring across the board however, wasn’t ushered out of vision as much as it was pressured through the democratization of content and the equalization of influence. A new philosophy and methodology is required to effectively shed the perpetual cycle of catching up to consumer behavior.
According to the report, more than 25% of companies placed between 81 to 100 percent of budgetary control over social medias compared to only 12.6 percent going to marketing. But to say that it is the industry standard or even the right or only answer, is far from reality. As individuals in online networks earn prominence, it’s clear that their authority and influence is only expanding. Originally, the 4 Ps were designed to create the perception of value in order to drive activity and in a positive and profitable direction. Doing so will position us for prominence and influence to guide experiences, direction, and earn presence through not only traditional media, but also through the opinions, thoughts, and ultimately public validations of our influencers and influential consumers. In addition, one quarter of respondents claimed that PR held strategic control over social media as a whole within their organizations and only 9 percent was bestowed upon marketing. While Public Relations may not operate with commercial motives, it doesn’t operate without its own bias and agenda.
As we’re learning, people and their actions and words, are now critical ingredients in business. Doing so opens the doors to identify and apply specific value and resources to where it’s most critical and to specifically match capabilities with needs. Therefore, a 360 approach is only complete through the integration of a fifth “P” to the marketing mix, people. In the late 1940’s, Borden adopted the term in his teachings inspired by James Culliton who had described the marketing manager as a “mixer of ingredients.” Borden grouped the ingredients of the marketing mix in 13 parts, product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, fact finding and analysis. This marketing mix is mainly used in case of Tangible goods.2) Service marketing mix –  The service marketing mix has three further variables included which are people, physical evidence and process. A new skill set is required to effectively compete for attention, mindshare and ultimately affinity. They are discussed in detail in the article on service marketing mix.The term marketing mix was first coined by Neil H Borden back in 1964 in his article “The concept of marketing mix”.
Suppose the company wants to launch low- priced product, the promotion has to follow suit and the same channels where premium products are sold cannot be used to provide access to this segment of customers. Hybrid Theory introduces a workforce of cross-breeds , experts who master an array of marketing artistry, social sciences such as psychology and sociology, creative vision, business dynamics, service, and communications. Several strategic analysts over the years believe that the marketing mix can make or break the firm. Second, each element of marketing mix contains countless variables.Third, the 4Ps of marketing have been the key areas where marketing managers allocate scarce corporate resources to achieve the business objectives.
These individuals do not displace the authorities in their respective disciplines, they simply extend their capabilities into new media and corresponding domains and markets.
Fourth, to show the differences between services and physical products, Booms and Bitner suggested the extension of the 4Ps framework to include three additional factors: People, Physical evidence and Process. Over time the concept of marketing mix has provided a steady platform for the launch of a new product or business.As mentioned before, the marketing mix is characterized by four different but equally important variables. Finally, the marketing mix will vary from industry to industry and organisation to organisation because of different offerings. However, a change in one of the variables may cause a change in all the other variables as well. The variables are as follows1) Product –  The first thing you need, if you want to start a business, is a product.
Thus, not only a fridge, but fixed deposit facilities provided by a bank, lunch at a restaurant, polio vaccination campaign of UP Government, and promoting Jaisalmer during winters are all products.It means every good (Sony TV), service (domestic maid), idea (eradication of TB), event (Wimbledon), etc. Product decisions are the first decisions you need to take before making any marketing plan. A product can be divided into three parts. The second level comprises of supplemental features (Kotler calls them as expected and augmented product levels).For a midway restaurant between Delhi and Jaipur, one expects clean wash rooms.
Supplemental features add value to the core benefit in the form of TV, different kind of foods, free drinking water, bar, shopping arcade, lawns, fountains, etc.For a tyre, supplemental products mean installation, delivery, training, financing, replacement, etc. Thus as long as you dont know your product, you cannot decide any other variable of the marketing mix.
However, if the product features are not fitting in the marketing mix, you can alter the product such that it finds a place for itself in the marketing mix.2) Pricing – Pricing of a product depends on a lot of different variables and hence it is constantly updated.


Major consideration in pricing is the costing of the product, the advertising and marketing expenses, any price fluctuations in the market, distribution costs etc.
Cinthol soap is a product item of the Soaps product line of Godrej Consumer Products Limited, as the product line (Group of closely related products) includes Godrej No. Thus the pricing has to be such that it can bear the brunt of changes for a certain period of time. However, if all these variables change, then the pricing of a product has to be increased and decreased accordingly.Along with the above factors, there are also other things which have to be taken in consideration when deciding on a pricing strategy. These names may be associated with founders (Tata Salt), Sports (Polo shirts), animals (Crocodile tee shirts), invented names (Dalda ground nut oil), abbreviated names (ICICI Bank, 3M, HDFC Bank), Gods (Natraj pencils, Shri Krishna Dhoop and Agarbatti), Forts and Palaces (Lai Quila Rice, Lai Mahal Rice), numbers (555 soap), number and words (7UP), geography (Woodland shoes, Fuji Camera), objective (Boost nutritional food drink granules) and fruits (Fruit of The Loom inner wear and casual wear). When a brand is registered with trademark authority, the owner gets exclusive authority to use.Trade names refer to company names instead of product names.
Thus based on these factors there are several pricing strategies, one of which is implemented for the marketing mix. Some brand names have become so popular that they have become generic names, like Dalda (HLL), Nylon (Dupont), Vim (HUL), etc. On the other hand, if the product is a Premium consumer product, it will be available only in select stores.
Similarly, if the product is a business product, you need a team who interacts with businesses and makes the product available to them.
Packaging protects and maintains the functional form of the product, provides convenience to consumers, and promotes the image of the company and the product. Thus the place where the product is distributed, depends on the product and pricing decisions, as well as any STP decisions taken by a firm.Distribution has a huge affect on the profitability of a product. An increase in petrol rates by 10 rs will in fact bring about drastic changes in the profitability of the company. Thus supply chain and logistics decisions are considered as very important costing decisions of the firm.
The firm needs to have a full proof logistics and supply chain plan for its distribution.4) Promotions –  Promotions in the marketing mix includes the complete integrated marketing communications which in turn includes ATL and BTL advertising as well as sales promotions.
Labels are used for identification, legal, informational and promotional purposes.Product decision of marketing mix is concerned with both the existing products and the new products.
Price is the one, which creates sales revenue – all other parts of marketing mix are costs. The right kind of promotions affect all the other three variables –  the product, price and place. If the promotions are effective, you might have to increase distribution points, you might get to increase the price because of the rising brand equity of the product, and the profitability might support you in launching even more products. Promotions is considered as marketing expenses and the same needs to be taken in consideration while deciding the costing of the product.Thus as we see from the above diagram, all the four variables of marketing mix are inter related and affect each other. Captive product pricing (Products that complement others, like cheaper tooth paste and costly tooth brush, cheaper printer costly cartridge)3. By increasing the pricing of the product, demand of the product might lessen, and lesser distribution points might be needed. Bait Pricing (Low price of one item to attract customers to store for selling a higher priced item in the line, like Reality developers)4. On the other hand, the product USP can be such that maximum concentration is on creating brand awareness, thereby increasing need of better pricing and more promotions.
Price Lining (Different prices for different combinations – Tata Sky gives different channels packages at different prices)5. This is because, your marketing mix decision will also affect segmentation, targeting and positioning decisions. Penetration pricing (Low price to gain market share and then increase price, like Tata Telecom)2. Price skimming (High initial price, in future price will come down to parity, like films on release)C. If your product is a service then there are 3 further P’s taken into consideration namely –  people, physical evidence and process.
Reference Pricing (Pricing at moderate level a product kept next to a more expensive product, so that customer can differentiate between moderate and better products)2. Group or Bundle Pricing (Package to contain two or more products and the package is priced, like tour to Europe Price includes air fare, transfers, sight-seeing, hotel, and food)3.
Multiple – Unit Pricing (in Big Bazaar socks with three pairs are per unit cheaper than buying one pair)4.
Everyday Low Prices (Instead of declaring frequent short-term price reductions, marketers keep the prices otherwise low, like Wal-Mart-“Always Low Prices. Prestige Pricing (Keeping higher price because customers believe that a higher priced product is of better quality).D.
Price Leaders (Keeping low prices of some products in the hope of sale of other regularly priced items, like lower sugar price and regular pricing for tea leaves, milk and cardamom)2.
Special Event Pricing (Most of the big stores announce lower prices on the eve of Diwali, Id, Gurpurab, 25th December, 15th August)3. Comparison Discounting (Company writing earlier higher prices along with current lower prices for comparison by the customers)4.
Other promotional pricing strategies (Includes Low Interest financing, longer payment terms, extended warranties and Service Contracts, and Psychological Discounting)E.
Pricing variations (Early bird discounts, like ticket booking one month in advance at lower price)2.
Geographical pricing (Different prices in different geographies, like Indian Oil charges different prices for petrol and diesel in different cities)4.
Value pricing (Difficult economic conditions and marketer making value offering, like restaurant offering value menu)5.
Transfer Pricing (Price charged for intra-company or group companies selling).The basis for pricing may be Cost-based methods include Mark-up pricing (Cost plus predetermined Profit), and Target Return (Cost plus say Rs. Thus, it is concerned with the store where the goods shall be displayed and sold, the channels of distribution and logistics management through which goods will flow from marketer to consumers.Chain or path or route in the channels may be marketer to consumer (through factory outlet or internet or company owned stores, or mail order business or door to door sales, or multilevel marketing as done by Amway), or marketer to retailer to consumer, or marketer to wholesaler (also referred to as distributors) to retailer to consumer, or agent to wholesaler to retailer to consumer. In order to post comments, please make sure JavaScript and Cookies are enabled, and reload the page. Through internet marketer can sell to a geographically disperse market, target and focus on specific segments, relatively keep low costs set-up, and makes use of e-commerce technology (for payment, shopping software, etc).With regard to channel six basic decisions are to be made -direct or indirect channel (in certain sectors, both direct and indirect channels may be used.


Hotels, for example, may sell their rooms directly or through travel agents, tour operators, airlines, and tourist boards.With centralized reservation systems, etc. All these decisions have to be made by individual marketer.Selection of a channel which is flexible, effective, and consistent with the declared marketing policies and programmes of the firm is very important. The nature and the type of the middlemen required by the firm and its availability also affect the choice of the distribution channel.A company prefers a middleman who can maximise the volume of sales of their product and also offers other services like storage, promotion as well as after-sale services.
For example Coca Cola uses Grocery Stores, Panwalas, and the restaurant owners to market its beverages, and hul uses not only grocery stores but also chemists to market its soaps and shampoos. This kind of distribution is suitable for convenience goods, like bread, butter, egg, newspapers, namkins, potato chips, etc.2. Exclusive distribution: Only one outlet in a bigger geographical area is used to sell the product.
The stores seen by you in your colony or street, wherefrom you buy milk, bread, grocery, stationary, medicines are mostly these kind of stores only.2. Department Stores: These are large retail firms, have wide product assortment (mix), and organised into separate departments.
The services are so varied that many a times the owner leases out space to others for these services.3.
Discount Stores: These are self-service, general merchandise stores, regularly offering national, regional, and store brands at low prices. Convenience Stores: These are small self-service stores, open for long hours, and normally carry convenience goods like soft drinks, snacks, cigarettes, chocolates, newspapers. Supermarkets: These are big, self-service stores, carry a complete line of food and non-food products (like cosmetics and over the counter drugs), organised into efficient different departments, offer lower prices than small neighbourhood stores),and central checkout.
They carry other routinely purchased items apart from food and non-food products of supermarkets- food to clothing, appliances to furniture, gardening equipment to artificial jewellery.Superstores are spread over 2, 00,000 square feet area. Hypermarket: These stores are spread over 2, 25,000 to 3, 25,000 square feet area and offer roughly 45,000 to 60,000 different types of low-priced products.
Roughly half of the space is allocated to groceries and rest is meant for electrical and electronic appliances, shoes, toys, house wares, hardware’s, furniture, etc.Space is leased to banks and fast food restaurants. Cash-and-Carry Stores: In India recently, some cash-and-carry stores, also known as Warehouse Clubs, have opened. Important among them are Bharati-Walmart (Punjab), Carrefour (in trans-Yamuna area of Delhi).These are for members only and engaged in wholesaling only.
To keep prices lower than supermarkets and discount stores, they provide little range of sizes and styles and services. Warehouse Showrooms: IKEA, a Swedish firm sells furniture, household goods and kitchen accessories through catalogues across the world. Five important features of a warehouse showroom are large, low-cost buildings, warehouse materials-handling technology, vertical merchandise displays, large on-premises inventories, and minimal services.10. In case of jewellery we have many such stores, like Suranas of Jaipur, PC Jewellers of Delhi, Ramchandra KrishnaChandra of Chandni Chowk, and Saboos of Delhi in sarees. They inevitably also share some degree of central management, supply chains, training programs, personnel, etc.They tend to either be parts of a single company or franchises, in which individual store owners license the use of the shared brand, training, and know-how.
Three notable companies in this kind of business are Amway India, Oriflame India (beauty products), and Tupperware India (food grade plastic containers). Recently Sky shopping, popularly known as the Direct Response Television (DRTV) industry has also become very important form of marketing through mail.14. Non-Store based Retailers: The mail order houses, online businesses, vendors, and hawkers are examples of non-store based retailers.
Logistics Management:For smooth inflow of goods from manufacturer to ultimate consumers, there are many backend operations which are performed by Logistics.
It will provide information to assist them in making a decision to buy a product or service. The cost associated with promotion often represents a sizeable proportion of the overall cost of producing an item.
With increased sales due to promotion, costs are spread over a larger output.Though increased promotional activity is often a sign of a response to a problem such as competitive activity, it enables an organization to develop and build up a succession of messages and can be extremely cost- effective. The ad message would be given differently on different media, due to media characteristics. To increase effectiveness of salespeople, the marketing manager decides on sales territories and sales quota.
Information can be sought through the call reports, customer feedback and invoices.Some of the firms instead of personal selling go in for vending machines, which are cheaper to install and operate and flexible in location. Sales promotion as a technique of promotion has been developed to supplement and coordinate advertising and personal selling efforts of a firm. It is any short-term incentive used by a firm to increase the sales of its product.It consists of all those promotional activities that help in enhancing sales through non-repetitive and one-time communication. 1,200), (ix) Fairs and Exhibitions (Trade shows, fashion shows or parades, fairs and exhibitions , Lever Lame sponsored Fashion Week for many years), (xi) Exchange scheme (exchange the old product with new by paying less , like exchange of old Black & White Television for Colour Television by paying rupees 8000 only), (x) Sale (Annual clearance sale of jainsons). Almost any organization that has a stake in how it is portrayed in the public arena employs some level of public relations.
There are a number of public relations disciplines falling under the banner of corporate communications, such as analyst relations, media relations, investor relations, internal communications and labor relations. The people should have appropriate interpersonal skills, aptitude and service knowledge to deliver expected service. To deliver products or services, systems or processes have to be in place, to avoid any discretion.
If you walk in a grocer’s shop and find rats, insects and flies, what will be your perception? The young generation prefers to go to malls instead of street shop is the physical ambience.- the cleanliness, air conditioning, parking facility, facility to touch, etc. People do not mind to pay more but need clean environment at the place of delivery for having better experience.



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