The Marketing Mix

THE 5 P'S OF MARKETING

Introduction
Marketing is the process of performing market research, selling products and/or services to customers and promoting them via advertising to further enhance sales. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves. Marketing is used to identify the customer, to satisfy the customer, and to retain the customer. With the customer as the focus of its activities,

About Marketing Mix

The marketing mix is probably the most famous marketing term. Its elements are the basic, tactical components of a marketing plan.

The Marketing Mix-The 5 P's

Product Price Place (distribution) Promotion People

People- When referred to as an element in the marketing mix, this 5th P refers to how your level of service and the expertise and skills of the people who work for you can be used to set you apart from your competitors. The truth is, marketing has to be People are your strongest central customer centric, and although the customer is what ingredient of you marketing mix. Internally, completes the adjoining sales cycle, it is also the you and your employees are brand for your product or service. customer thatambassadors drives the entire marketing mix.

Basically, the entire process starts and stops with the customer. People are your strongest central ingredient of you marketing mix. Internally, you and your employees are brand ambassadors for your product or service. Two way communication can help build relationships with customers and result in more closed sales. Even if u have small operations customer support is fairly easy to implement.

People
People decisions are those related to customer service. In order to market effectively, people are an essential part of the equation. The company hires and train staffs that would represent their company to the market. Recruiting the right staff and training them appropriately in the delivery of their service is essential if the organization wants to obtain a form of competitive advantage.

Contd
People are the most important element of any service or experience. Services tend to be produced and consumed at the same moment, and aspects of the customer experience are altered to meet the 'individual needs' of the person consuming it. some ways in which people add value to an experience, as part of the marketing mix training, personal selling and customer service.

Contd
Training: All customer facing personnel need to be trained and developed to maintain a high quality of personal service. Personal Selling: The salesperson builds goodwill with customers with the longer-term aim of generating orders. Customer Service: Many products, services and experiences are supported by customer services teams.

'People' as part of the marketing mix: People How your level of service and the people who will provide that service will be used in marketing your products or services to the customer. Who are the people that will be providing this service and what kind of training will they receive.

Marketing Mix

 Marketing theorists like booms and Bitners have added a 5th P of marketing to the elements of the marketing mix: People- When referred to as an element in the marketing mix, this 5th P refers to how your level of service and the expertise and skills of the people who work for you can be used to set you apart from your competitors. The truth is, marketing has to be customer centric, and although the customer is what completes the adjoining sales cycle, it is also the customer that drives the entire marketing mix. Basically, the entire process starts and stops with the customer.

The Power of the Fifth P When the importance of employees to brand marketing is ignored, the cost is huge. The name of the game for any brand manager today is inducing the customer with a view to establishing a longterm relationship. people have become the most important component in the marketing mix. Social networks are largely driven by the people who use them, and these people are discussing the business,

Comparison-To Prove Fast Food: Relative importance of people and four other factors in likelihood of a consumer choosing a fast-food restaurant again

Airlines: Relative importance of people, promotion and place in likelihood of a consumer choosing an airline again

Summary of Marketing Mix Decisions

People:- Appearance, Service, Uniforms, Attitude, Patience, responsive, willing full, time conscious, dynamic, exception Job allocation/marketing plan/staff interaction so that consumers have good judgment & perception. Performance/reliability/responsibility/quality/ value/satisfaction/feedback/ measure success &control and budget.

Contd
Without people no one to listen, cater, engage with or sell to / no profits/salaries. Just remember first impression counts. Willpower is the key to success. Nothing stops an organisation faster than people who believe that the way you worked yesterday is the best way to work tomorrow. Believe and be yourself and strive No matter what happens .

Promotion
Generally, is communicating with the public in an attempt to influence them toward buying product or services

What is Promotion
It is one of the element of Marketing Mix or four Ps.The concept begun in 1953 coined by Mr. Neil Borden in his American Marketing Association presidential address Product Price Promotion Place

Promotion
Basically it is related to retail business as well as service sectors It is an activity such as sale or advertising campaign designed to increase sales of product or service

Promotion Period
Annually Semiannually Seasonally

Need of Promotion
In order to sustain in business Promotion is a must. To liquidate the stock To meet sales targets When sales declining to up bring the business It is a business strategy

Contd,
To stimulate the customer To acquire new customer To bring back the old customer

Promotion
Marketing team Sales team Advertising team Are responsible for promotional program

Main Considerations
Budget Outcome of the promotion

Forms of Promotion
Raffle Coupons Scratch & Win Coupons (Instant Price) Buy one Get one free Air Mails Discounts on certain amount of purchase Free service post sales Attributes Free other products with prime product

Promotional Mix
Advertising Personal Selling Sales Promotion Direct Marketing Internet Marketing Publicity

Promotional Objectives
Sales Targets Increase Market Share Awareness Information Retain the brand name forever in customers mind like Lux, Colgate Britania etc

Advertising Media
Television Radio Magazines Newspapers Direct Mails Banners Billboards

Promotion
In order to bring attention of the people & creating awareness, information is very important It is medias significant activity Therefore your advertisement should be very promising Factual information Should not be overstated

Conclusion
Promotions should be done in ethical manner Reimburse incentives /rewards /gifts promptly Winner information should be provided for every buyer