Marketing And Marketing

Mix
MARKETING

 Managing profitable customer relationships.

Wal-Mart ( Always low prices. Always)
Dell ( desktops), Procter and Gamble
 Organizational function and a set of
processes for creating, delivering and
communicating value to customers, and
managing customer relationships in ways
that benefit the organization and its
shareholders.
The Marketing Mix

 Marketing Mix is a combination of marketing

tools that a company uses to satisfy their
target customers and achieving
organizational goals.
Classification of Marketing Mix

 McCarthy classified all these marketing tools

under four broad categories:
 Product
 Place
 Price
 Promotion
 Style Packagin
g

Quality
Durability

Physically
good
PRODUCT Installatio
n

After sales
Features

Branding Warranty
Price:
 The amount in money for which something is offered for sale
.
Price includes the pricing strategy of the company for its
products. How much customer should pay for a product?
Pricing strategy not only related to the profit margins but also
helps in finding target customers. Pricing decision also
influence the choice of marketing channels. Price decisions
include:
Basic Price: the basic price of the product or service must be
worth the value of the product.
Discounts: discounts on the product are used rarely, to obtain
more customers.
Promotion:

The product must be promoted it includes all

communication and selling activities to persuade
future prospects to buy the product.
Promotion decisions include not only the place
where the product is placed, all those activities
performed by the company to ensure the
availability of the product to be targeted
customers. Availability of the product at the right
place, at the right time and in the right quantity
is crucial in placement decisions.
Place:

There will need to be a place where the product can

be sold and purchased.

Pushing and pulling through the channels:

Location: the location of the company is important.

Physical distribution: how the product will be
distributed.
Long and short channels:
People:

People promote and sell services

People deliver services

Service quality is important for customer satisfaction.

Manner and appearance are important in marketing.

Small sayings such as 'have a nice day' will keep customers

happy.
Process:

Is how customers are handled from the beginning to

the end.

Payments: Must be accurate and added up correctly,

with the right amount of change given.
Booking: Must be done correctly and quickly, without
delaying.
Speed and Timing of delivery: Customers may get
nervous and leave if they are not served quickly
enough.
Physical Evidence
When you offers the tangible products then you give chance to the customers to
try product before they use or atleast see, touch or smell. This includes factors
such as:

Facilities: there must be suitable facilities available for the customer. E.g. a
restaurant will have toilets for customer use.

Ambience: ambience is the atmosphere of the area, small comforts such as

background music, will keep the customers at ease.

Layout: the layout must be simple and easy to follow.

Decoration: The way the building or website is decorated will attract customers.
E.g. Air passengers expect attractive and stimulating environments, such as
interesting departure lounge, with activities for young children etc.
In Conclusion
The 7 Ps The 7 Cs
< Organisation Facing Customer Facing >
Product = Customer Value
Price = Cost
Place = Convenience
Promotion = Communication
People = Caring
Processes = Co-ordinated
Physical Evidence = Confirmation
Accounting

It is a systematic process of identifying,

recording, measuring, classifying, verifying,
summarizing, interpreting and
communicating financial information to
support management and other parties
decisions.
Finance

 Finance is a field that deals with the study of

investments.
 It concerned with acquiring funds for
organizations and managing funds within the
organization.
 Debt Financing
 Equity Financing
HUMAN RESOURCE MANAGEMENT

Involves the productive use of people in

achieving
 the organization's strategic Objectives
 the satisfactions of individual employees
needs.
“ HRM is the management function that
deals with recruitment, orientation,
training, development, compensating
and firing of employees.”
 The HRM Functions

HRM has 4 basic

Functions

Staffing
Training &
Development

Motivation

Maintenance
In other words, hiring people, preparing them,
stimulating them, and keeping them.

Zehra A.Sayyid 18
Management Information System

 Process of transmitting and transforming

data into information that can be used to
facilitate communication and decision
making.
Production and Operations

 The function concerned with the efficient

transformation of resources into finished
goods and services.