ssd-smg-l4 mktg mix
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Marketing ManagementMarketing Management
Marketing Mix
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Product MixProduct Mix
A bundle of attributes capable of exchange or use ,
covering tangible as well as intangible form.
Customers however buy value from these attributes
& not the product per se.
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Marketing Mix .. ContdMarketing Mix .. Contd
Product Mix
Line
Quality
Branding
Guarantees / Warranties
Packaging Value add-ons
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Product MixProduct Mix -- ContdContd
Line
Width ± No. of Product Lines ±
Current / Savings / Loans / Vaults / Trav Cheques
Depth ± Prod Line ± No. of Items in Each
EMI / Fxd Rate / Floating Rate / Unsecured / Term
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Product MixProduct Mix -- ContdContd
Quality :
Customer Perception : Intangibility Bottleneck
Customer Perception : Pre-Use & Post-Use
Efforts at bridging gap :Use of Positioning Bases
Efforts at Tangibilising : Goa Tourism / Crossword
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Product MixProduct Mix -- ContdContd
Branding :
Stand alone or Family : HLL v/s LIC
Differentiation
Pull effect
Enables Line Extensions Less price sensitivity
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Product MixProduct Mix -- ContdContd
Branding may Involve use of :
Visual : Welcome Group ± Folded Hands
: Canada ± Maple Leaf
Slogan : FedEx ± The World on Time
: IA ± Your home in the Sky
Colours : Jet Airways ± Blue & Yellow
: Ferrari - Red
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Value AddValue Add--ons / Augmentationons / Augmentation
Restaurants :
Tendulkar¶s : Children¶s Menu & Section
Hotels :
Free Internet Access / Room based access
Complimentary Health Club
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Promotion MixPromotion Mix
What does µpromotion¶ hope to do?
Objective is to inform , persuade or refresh
people¶s minds about an organization or
it¶s goods , services , ideas , image , etc.
Attempt to re - inforce receiver¶s feelings ,
beliefs or behaviour about your brand.
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Marketing Mix ..contdMarketing Mix ..contd
Promotion Mix
Advertising
PR
Publicity
Sales Promotion
WOM
Tele Marketing
E-Marketing
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Promotion MixPromotion Mix
Promotion may seek to influence :
Target Market
Channel Partners
Trade Entities
Consumer Groups Opinion Makers
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Promotion MixPromotion Mix
Promotion hopes to address :
Creating awareness about your brand / offering
Build reputation & customer confidence
Communicate USPs / Features
Keep existing products / services in ToM recall
Help in re - positioning image / products
Inform consumers about where / how of availability Inform consumers about special offers / sale
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Promotion MixPromotion Mix
Most Commonly used words in Promotions:
Free Save Easy
New You Few
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Promotion MixPromotion Mix
Sales Promotion :
Can be directed towards :
Channel Entities
Target Market
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Promotion MixPromotion Mix
Sales Promotions directed at Channel :
Trade Shows PoP displays
Trade discounts
Free Merchandise
Incentive Packages / Gifts
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Promotion MixPromotion Mix
Sales Promotions directed at Consumers :
Free Samples : Magazines
Exhibitions : GITEX / Utsav Contests : Slogan Writing
Rebates : Card Fee Waiver
Prizes / Gifts : In-flight Lucky Draw
Loyalty Benefits : FFPs
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Marketing Mix ..contdMarketing Mix ..contd
Price Mix Interest
Rent
Fare Fee
Retainership
Wages
Tariff Premium
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Price MixPrice Mix
What¶s d ifferent ?
It is the only element in the marketing mix
which generates revenue , all others
generate costs.
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Price MixPrice Mix
What does pricing strategy get influenced by :
Cost
Competition
Customer Willingness
Brand / Product Price Positioning
Payment Terms
Taxes & Duties
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Marketing Mix ..contdMarketing Mix ..contd
Price Mix
Methods of Pricing
Cost Based
Demand Based
Flexible
Penetration Skimming
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Methods of PricingMethods of Pricing
Demand Based :
Flexible pricing :
By product : Air travel:Business v/s Tourist
By place : Hotels :Swimming Pool view v/s Other View
By time : Hotels : Seasonality : Weekend Prices
By Volume : Hotels : Minimum Room Nights Contracts
By Customer : Special prices for Aged / Infirm ,etc.
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Methods of PricingMethods of Pricing
Penetration Pricing :
Very Low Introductory Pricing
Sales Volume / Market Share
Skimming Pricing :
Premium Introductory
Pricing
Short Supply / Inelastic Demand
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Place ( Distribution )Place ( Distribution )
Refers to the availability of the service
Ie Where & When can it be purchased
2 key dimensions :Accessibility & Availibility
2 key issues there : Inseparability + Perishability
Channels have to be short & swift
µRight Time¶ & µRight Place¶ Important
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Factors determining DistributionFactors determining Distribution
Company Resources : Owned / Franchised
NIIT / Aptech
Market Analysis : Size & Spread
Thomas Cook / SOTC
Type of Service : People / Equipment based
CA / ATM
Customer Confidence : Confidentiality / FaithBank / Fast Food
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Distribution thru FranchisingDistribution thru Franchising
Benefits to the Franchisor :
Low Cost Expansion
Rapid Growth
Local Expertise
Benefits to the Franchisee :
Reduced risk
Brand & Business Support
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Electronic Channels in ServicesElectronic Channels in Services
Offer the following Advantages :
Convenience : 24x7 , 365 days availability
Reach : Width & Depth of reach
Standardization : Maintain consistent quality
Speed : Much faster than human interface
Cost : Capital , High ; Operating , Low
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Marketing Mix ..contdMarketing Mix ..contd
Place Mix
Quality Channels
Distribution Process
Reach
Storage
Techno Marketing Innovations
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Marketing of ServicesMarketing of Services
7 P¶s of Marketing
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The Augmented MixThe Augmented Mix
People
Physical Evidence
Process
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People MixPeople Mix
Services can be :
High Contact : Professional : Dentist / Education
----do---- Non± Professional : Baby-Sitting / Taxi
Low Contact : Car Wash / Vending Machine
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People MixPeople Mix
Contact based services can be re-grouped :
Direct : SP executes : Dentist / Hairstylist
Facilitation : Brand & SP distinct : Employee based
Ancillary : Setting up service deal :
Broker / Agent
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People & Customer SatisfactionPeople & Customer Satisfaction
Service Encounters :
Moments of Truth / Customer¶s First-Hand Experience
First & Last Opportunity to impress & delight customers
Service Profit Chain :
Employee Satisfaction => Customer Satisfaction
= > Customer Loyalty = > +ve WoM = > Revenue = > Profit
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Marketing Mix ..contdMarketing Mix ..contd
People Mix ± Imp Issues Recruitment
Training Customer Care Attitude
Personal Attention
Grievance Handling
Culture & Values Team Work
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Physical Evidence MixPhysical Evidence Mix
Service Setting or Servicescape
Tangible commodities along with service
Independent items that communicate service
or indicate possible performance standard.
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Physical Evidence MixPhysical Evidence Mix
Facility Exterior :
Signage / Front Elevation / Surrounding Environment
Facility Interior :
Design / Layout / Automation / Comfort
Other Tangibles :
Uniforms / Brochures / Testimonials
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Physical Evidence MixPhysical Evidence Mix
Physical Evidence ± Airline Industry
Waiting Lounge / Check-In Counters / Terminal
Aeroplane Exterior : Colours / Cleanliness
Aeroplane Interior : Décor / AC / Seat / Music
Others : Uniforms / Food / Cutlery
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Marketing Mix ..contdMarketing Mix ..contd
Process Mix
Process design would be influenced by :
Service Basis : Standardization / Customization
Use of Automation / Equipment
Level of Complexity of the Service
Response Times Expected / Committed
Level of Customer Involvement
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Process MixProcess Mix
Process Mix ± Imp Issues
Maximize Customization around Standardization Make it as structured & repeatable as possible
Provide for Customer Influence
Factor-In Customer Alignment
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Global ImpactGlobal Impact
Multiple choices,
difficult decisions.
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Thank YouThank You
For Your For Your ParticipationParticipation