marketing mix for Diploma level course Maxwell Ranasinghe

1. Marketing Mix for SIKSIL
2016
Maxwell Ranasinghe
B.Sc. ( Business Administration) Hons. MAAT, Attorney at
Law, CPM ( New Haven- USA)

2. Today you will be going out of this
class with …….
• With a good idea of the most important
“Marketing Mix” that marketers use in
marketing
• You will be empowered with the ways
and means of integrating elements of
marketing mix
• You will see a product not by its
physical appearance but by many other
aspects

3. Marketing Mix . What is it
• It is called 4 Ps
• Paann
• Pittu
• Parrippu
• Polsambola

4. • Defining marketing mix
• “ Marketing Mix is the set of controllable
tactical marketing tools that the firm
blends to produce the response it wants in
the market. The marketing mix consists of
everything the firm can do to influence the
demand for its product” Kotler 12th
edition

5. • Traditionally it is comprised of
• Product
• Price
• Place ( Placement)
• Promotion ( Communication)
• For ease of use Mccarthy named this as
4 ps.
• ( These elements will be studied as separate modules in
EOM in detail. Today we are just introducing them
briefly to grasp the concept)

7. • These elements in the Marketing Mix are in
the control of the marketer.
• Therefore marketing Mix is a set of
controllable elements ( tools) in the hands
of the marketer to use to achieve desired
targets.
• In other words marketing Mix is used to
influence the buyer in the target market to
create positive responses towards the
marketers product

8. Product
• Product itself has its own way of
offering it to the Target Market.
Therefore it is called the product
Mix
• It comprises of Variety, Design,
Brand name, image, quality, features
and benefits, packaging, styling,
accessories, warranty, after sales
services etc.

9. Price
• Price should be affordable to the target
market
• The cost of the product is very important
to decide the price. Further pricing
objectives and pricing strategies also will
decide the prices.
• Price offer also could be called as the price
Mix
• It will have the suggested retail price,
wholesale price, discounts, trading price,
strategies, allowances, payment terms,
credit etc.

10. Place
• The product should be made available
to the target market where customers
could buy it conveniently.
• The Place mix could have distribution
channels, Channel members, market
coverage, inventory ( stock) control,
warehousing, order processing,
transport and logistics.

11. Promotion
• The major role of promotion is to make
aware the target market that there is a
product offering of this nature and develop
interest, desire and action to buy the
product. (AIDA)
• The promotion mix includes Advertising,
personal selling, Sales Promotion, Public
relations, Direct marketing, etc.
• Setting the communication budget are also
part of the promo mix.

12. Key Characteristics of an Effective
marketing Mix
Effective
marketing Mix
Matches Customers needs
Creates
Competitive
advantage
Well Blended
Matches
corporate
resources

13. • Marketing Mix Matches Customer
needs
- Customer needs to be understood
- How customers choose rival products
to be studied
- The key customer requirements should
be met through the Marketing Mix

14. Click in the middle for flash mob for Akuru mekee nehe

15. • Marketing Mix Creates a
Competitive advantage
If a marketer can really identify the needs
of the customer well and fine tune the
marketing mix, then he will surely have an
advantage over the competitors who have
not done such fine tuning of the marketing
Mix

16. • The marketing Mix should be well blended
• - 4 ps should be well blended ( fine tuned) to form
a consistent theme
• - 4 ps should display a coordinated program
designed to achieve the companies marketing
objectives
• - Marketing Mix should be used as a tactical tool
kit for establishing a strong positioning in the
target market ( consumer)
• Elements of M.Mix is interdependent and a change
in one element may affect the other elements and
on the total mix

17. Do not look at me you talk with your friend
near u about the Key Characteristics of the
marketing mix

18. Extended Marketing Mix
• Pan cakes ?
• Pastries ?
• Patties ?

19. ELEMENTS OF EXTENDED
MARKETING MIX
• People were not buying only
tangible goods but they buy many
services such as services from
banks, insurance companies,
hotels, doctors, government
agencies etc.

20. Services differ from physical
goods
• Variable
• Intangible
• Inseparable
• Perishable
• When services are included in the marketing
further extension of marketing mix took place
• Traditional marketing mix was not enough to
handle the service salutations

21. • THEREFORE
People
Processes
Physical Evidence
Were added to the marketing mix
to accommodate the services into
marketing.

23. People
• Marketing organisation deals with
many stake holders. All of them
are people
• Suppliers, distributors,
customers, competitors,
government, authorities and many
other organisations
• Their needs, values, attitudes are
different

24. • The marketer has to identify
them and treat them well to
deliver the promise that he or
she makes.
• The marketing force should
be trained to handle
customers. They should
recruit people who would be
people friendly.

25. • Understand customer expectations,
understand customer types, help
customers to find their needs,
establish service standards, positive
attitudes, handling complaints,
listening skills, telephone skills, have
to be developed in front line staff of
the marketer.
• A lot of Training needed

26. Process
• Process is the ways and means
the marketing activity is
delivered.
• Efficient processes have to be
adopted in serving customers
• Order taking, queuing and waiting
time, issue of estimates,
completion of repairs and
services, notifying customers of
service completion, automation
and computerization are aspects
that should be dealt in processes.

27. • If processes fail customer
dissatisfaction will appear and it will
lead to loss of sales and business.
• Therefore, establishing service
standards, capacity development to
accommodate customer demands,
managing customer contacts are
process issues that a marketer should
bear in mind.

28. Physical evidence
• “Physical evidence gives the
consumer to refer to and to show
other people if necessary. Since
service products are usually
intangible, the consumer of ( say)
an insurance policy will need some
written evidence of its existence
in order to feel confident in the
product”. Jim Blyth- 2005

29. • Physical evidence includes
• Tangible evidence of
purchase
• Physical environment which
surrounds the purchase

30. • Tangible evidence of purchase could
be created through receipts, bills,
tickets, vouchers, certificates,
letters, labels, logos and other
visible evidence of brand
identification etc.
• Environment of service delivery
could be created by interior décor,
colours, staff uniforms, facilities,
music and sound, company website,
layout etc.

31. • Physical evidence conveys the nature
of the service delivered. It
communicates with the customer
about the status of the service
delivered.
• It could be used to reinforces the
image of the company and its
services.

32. Managing the marketing
mix
• Marketing mix has to be fine tuned to get
the desired results
• A change in one element may affect the
whole marketing mix
• Therefore all elements are interdependent
and carefully adjusted
• When one element cannot be adjusted,
then the other elements may be adjusted
to fill the gaps.

33. Seven Ps in the view point of
marketer and the customer
• Marketer customer
• Product Customers value
• Price Cost
• Place Convenience
• Promotion Communication
• People Consideration
• Process Co-ordination
• Physical Evidence Confirmation

34. Be mindful
• If you are in marketing, you would
always be meddling with the
marketing mix.
• So read more, involve more and get
experience and master the
adjustment of the Marketing Mix.
• You will become a winner.

35. 7 Ps in operation
Satisfying
customer needs
profitably
Product
Physical
evidence
Process
People
Place
Promotion
Price

36. Questions and Answers
and exam technique
• 1. What do you mean by traditional
marketing mix ?
• 2. What do you mean by marketing Mix ?
• 3. Why an extended marketing mix was
introduced ?
• 4. The marketing mix should be fine tuned to
get desired results ?
• Explain the 7 ps of marketing mix in the view
point of customer ?
• What are the key characteristics of an
effective marketing mix