MARKETING MIX

Module 2
Session 1
 Marketing Mix
Marketing mix is the set of marketing tools that the firm uses
to pursue its marketing objectives in the target market.
What is a Product?
• Anything that can be offered to a market for attention,
acquisition, use, or consumption that might satisfy a
want or need.
• Products include physical object, services, events,
persons, places, organizations, ideas, or mixes of these
entities.
Service
• Any activity or benefit that one party can offer to
another that is essentially intangible and does not result
In the ownership of anything.
 Product Classification
 Consumer Products:
Convenience Products
Shopping Products
Specialty Products
Unsought Products

 Industrial Products
Materials and Parts
Capital Items
Supplies and Services
Product Classification

 Industrial Products
Materials and Parts
Raw materials and small components

Capital Items
heavy machinery and equipments

Supplies and Services

 Levels of Product

1.Core Benefit
2.Actual Product
3.Augmented Product
Core Benefit
• It addresses the question What is buyer really buying?
• When designing products, marketers must first define the core , problem-solving
benefits or services that consumer seek

Actual Product
• Product planners must turn the core benefit into a actual product • They need to
develop product and service features, design, A quality Level, a brand Name, and
Packaging

Augmented Product
• With Core and Actual Product, every Planner has to give additional consumer
services and benefits