Role of Marketing Manager A mature, intelligent and innovative marketing manager needs to be at the helm of the marketing mix.
This understanding will ensure that the product offering is relevant and targeted. Understanding the Consumer The second step is to understand the consumer. Customer as a focal point A vital feature of the marketing mix is that the customer is the focal point of the activity.
Help Achieve Marketing Targets Through the use of this set of variables, the company can achieve its marketing targets such as sales, profits, and customer retention and satisfaction.
All other elements of the marketing mix follow from this understanding. Lack of Focus on Services The conventional marketing mix tends to be applicable to tangible goods i. This video shows how you can create value by using the marketing mix. Evaluating Placement Options At this point the marketing manager needs to evaluate placement options to understand where the customer is most likely to make a purchase and what are the costs associated with using this channel.
Lauterborn put forward his customer centric four Cs classification in But relying on just these can lead to inaccurate assumptions that may not end up delivering results.
Cross-check of the Marketing Mix A step back needs to be taken at this point to see how all the elements identified and planned for relate to each other. Product to Customer Solution. Whatever promotional methods are finalized need to appeal to the intended customers and ensure that the key features and benefits of the product are clearly understood and highlighted.
Through the use of this tool, the attempt is to satisfy both the customer and the seller. Together, elements in these four categories help develop marketing strategies and tactics. Physical Evidence is proof and a reassurance that a service was performed People are the employees who deliver the service Processes are the methods through which a service is executed and delivered to the customer Lack of True Customer Focus Though a total focus on the customer and what they desire is a vital element of the 4P model, this truth is often in danger of being overlooked by enthusiastic marketing teams.
The perceived value of the product is closely tied in with how it is made available. To ensure a marketing mix that is based in research and combines facts with innovation, a manager should go through the following systematic process: Multiple channels may help target a wider customer base and ensure east of access.
On the other hand, if the product serves a niche market then it may make good business sense to concentrate distribution to a specific area or channel.
Who is the customer? What is the value of the product to them? An understanding of the subjective value of the product and a comparison with its actual manufacturing distribution cost will help set a realistic price point. Understanding the Competition The next step is to understand the competition.
The product can be focused by identifying who will purchase it. All marketing mix variables are interdependent and rely on each other for a strong strategy. The value of the product is determined by customer perceptions and the goal is to achieve a satisfied and loyal customer.
Is the promotional material in keeping with the distribution channels proposed? To cater to the unique challenges of services, the 4P model has been supplemented with 3 additional categories which are: Through customer surveys or focus groups, there needs to be an identification of how important this USP is to the consumer and whether they are intrigued by the offering.
These four variables are interdependent and need to be planned in conjunction with one another to ensure that the action plans within all four are complimentary and aligned. Flexible Concept The marketing mix is a fluid and flexible concept and the focus on any one variable may be increased or decreased given unique marketing conditions and customer requirements.
Services or intangible goods are also a vital customer offering and can be planned for in much the same way as physical products. Do the proposed selling channels reinforce the perceived value of the product? The marketing plan can be finalized once it is ensured that all four elements are in harmony and there are no conflicting messages, either implicit or explicit.
To counter this, Robert F. Two main criticisms and their solutions: This pivotal role means that this manager is responsible for achieving desired results through the skill manipulation of these variables.3 Know ye not, that so many of us as were baptized into Jesus Christ were baptized into his death?
4 Therefore we are buried with him by baptism into death: that like as Christ was raised up from the dead by the glory of the Father, even so we also should walk in newness of life. Col. 6 knowing. Published: Mon, 5 Dec The marketing mix is very important for marketer.
Marketing mix has affect on consumers decision to buy or not. There are clearly many factors which influence a consumer’s decision to buy something and these are all part of the marketing mix 7ps are the fundamental element of the marketing mix.
In this article, we will look at 1) the four P’s, 2) history of the marketing mix concept and terminology, 3) purpose of the marketing mix, 4) key features of the marketing mix, 5) developing a marketing mix, 6) key challenges, and 7) marketing mix example – Nivea.
THE FOUR P’S Product. The product is either a tangible good or an intangible service .Download