Marketing

Mix
What is Marketing Mix?
What are the different 7P’s of
Marketing Mix
Positioning
Product
Packaging
Place
People
Promotion
Price
Positioning/Process
Market dimensions of Positioning
 Latitude – lays out what is
important to the different
customer segments from their
differing points of view.
 Longitude – represents the

product features and attributes of

competitors in the marketplace.
 Product
 Isthe tangible good or the
intangible service that the
enterprise offers to its
customers in order to satisfy
their needs and to produce
their expected results.
4 General types of Products
 Breakthrough products- offer
completely new performance benefits.
They may double the performance at
half the cost.
 Differentiated products- it try to claim

a new space in the mind of the

customer different from spaces
occupied by existing products.
 Copycat products- will not make
much impression on the
consumer’s mind.
 Niche products- they are products

with lower reach, lower visibility,

lower prices, and lower top of
mind.
Packaging/ Physical Appearance
Place
People
Four Levels of Marketing Efforts of
People
 1. To create customer awareness
 2. To arouse customer interest
 3. To educate customers as they

evaluate their buying choices

 4. To close the sale and deliver

the products.
Promotion
Selling- to get the
customers buy
Sales Promotions- to

convince customers to
buy immediately.
Price
Objectives in Pricing it’s products
 1. Profit Maximization
 2. Revenue Maximization
 3. Market Share Maximization
 4. Attainment of the desired

prestige or quality leadership

 5. Penetration, survival, or

liquidation
 6. Scarcity pricing or market
skimming
 7. Cost recovery
 8. Subsidy pricing
 9. Marginal pricing
What is the importance of marketing
mix in the development of marketing
strategy?
 The six reasons to explain the importance of
marketing mix.
 1. It helps in a clean mix creation.
 2. Marketing mix helps new product

development.
 3. It helps increase the product portfolio.
 4. It is a guide to improve a business.
 5. It helps in differentiation.
 6. Finally, it helps you being dynamic.