...10/10/13 Marketing mix: Kotler on marketing - MaRS Discovery District Search AAA Resources by topic Workbooks Entrepreneurship 101 Funding Portal Search Tool Workshops 2688 3 Google + 1 1 0 Marketing mix: Kotler on marketing Marketing mix describes the set of tools that management can use to influence sales. The traditional formulation is called the 4Ps— product, price, place, and promotion. From the very beginning questions were raised about the 4P formulation of the marketing mix. Perfume companies wanted packaging to be added as a fifth P. 4P guardians said that packaging is already in the scheme, under product. Sales managers asked whether the sales force was left out because it began with an S. No, said the guardians, sales force is a promotion tool, along with advertising, sales promotion, public relations, and direct marketing. Service managers asked where services were in the marketing mix, or whether they, too, were excluded because the first letter was S. Here the guardians said services are part of the product. As services grew more important, service marketers suggested adding three Ps to the original 4Ps, namely personnel, procedures, and physical evidence. Thus a restaurant’s performance will depend on its staff, the process by which it serves food (buffet, fast food, tablecloths, etc.), and its physical looks and features as a restaurant. Others suggested adding personalization to the marketing mix. The marketer has to decide how personalized to make...
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...4PS OF MARKETING Introduction In the early 1960s, the concept of 4Ps was first suggested by E. Jerome McCarthy. He suggested that these four P’s as Product, Pricing, Place, and Promotion. The main reasons the marketing mix is a powerful concept are it makes marketing seem easy to handle, allows the separation of marketing from other activities of the firm and the delegation of marketing tasks to specialists. The marketing mix concept also has two important benefits. First, it is an important tool used to enable one to see that the marketing manager’s job is, in a large part, a matter of trading off the benefits of one’s competitive strengths in the marketing mix against the benefits of others. The second benefit of the marketing mix is that it helps to reveal another dimension of the marketing manager’s job. All managers have to allocate available resources among various demands, and the marketing manager will in turn allocate these available resources among the various competitive devices of the marketing mix. These 4Ps are: 1. THE PRODUCT: Exactly what product or service are you going to sell to this market? Define it in terms of what it does for your customer. How does it help your customer to achieve, avoid or preserve something? You must be clear about the benefit you offer and how the customer’s life or work will be improved if he or she buys what you sell. 2. THE PRICE: Exactly how much are you going to charge for your product or service, and on what...
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...INTRODUCTION: Marketing is essential factor in the whole processing of the firm. The term ‘Marketing’ can be simple defined, as “meeting needs profitably”. (kotler, et al ,p5,2006). Marketing mix is the most important aspect of the concept ‘Marketing’, which is a set of controllable tools that is used by the company in order to get expected response from the targeted market. (Khan, p 95, 2014) The marketing mix includes the main elements of marketing that is 4Ps, Price, Product, Place and Promotion. In the article by E. Constantinides (2006) ‘The Marketing Mix Revisited Towards the 21st Century Marketing’… tries to present the current standing of the main elements that is 4Ps of marketing. The purpose of presenting this article is to write a critical review. This will involve critically evaluating the journal article and highlighting the main objectives and limitations...
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......Heels and the 4 Ps From the Case Study from Colemans’ business formulated from the 4Ps of her marketing strategy we confer that the 4Ps stand for Product, Price, Promotion, and Place. According to Iacobbucci, the product represents that which is sold, the price is the cost, the promotion has to do more with short term advertising more than long term branding, and the place is location. The 4Ps of the Coleman business were developed from a lot of domestic and foreign research. The salient information that surrounded the 4Ps of international marketing was from China and Canada. In China Coleman from research wisely decided that the manufacturer closest to the Shanghai port would be price efficient due to its convenient location near Canada. Also price would be decided by savings by air versus land. A cost that would save her time which would also equate to dollar savings. A cost of only $600.00. Price and place was being evaluated and critiqued quickly. The place would be decided by the retail market and what research and business trends were already revealing. The product was being developed by examining her own personal experience with a pair of heels she wore to an evening event. She realized how beneficial it would be to wear a pair of shoes that would be flat. She also realized it would be extremely convenient to have them in a small bag that could fold up for convenience, and one large bag that heels could go in—one nice little set. And thus she had...
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...Marketing Plan Executive Summary Background and Mission Statement Situational Analysis SWOT Objectives Target Market Selection Brand Positioning Strategic Marketing Mix which consists of the 4Ps Product that has three levels of product Price Place in terms of distribution channels Promotion in terms of advertising, marketing etc. Marketing Strategies in the next 12 months of existing brand of a certain product Classify consumer products in terms of the four categories known as convenience consumer product, shopping consumer product, specialty consumer product and unsought consumer product. Market Segmentation in terms of age group Microenvironment and macroenvironment Marketing Plan Executive Summary Background and Mission Statement Situational Analysis SWOT Objectives Target Market Selection Brand Positioning Strategic Marketing Mix which consists of the 4Ps Product that has three levels of product Price Place in terms of distribution channels Promotion in terms of advertising, marketing etc. Marketing Strategies in the next 12 months of existing brand of a certain product Classify consumer products in terms of the four categories known as convenience consumer product, shopping consumer product, specialty consumer product and unsought consumer product. Market Segmentation in terms of age group Microenvironment and macroenvironment Marketing Plan Executive Summary Background and Mission Statement Situational...
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...The feasibility for SONY to develop low-end versions of its video games in UK market from the perspective of marketing 2.0 Aims and objectives: 1. Obtain a preliminary understanding of the target market environment of SONY (1) Understand the basic development conditions of the UK game market. Is it a mature market or an emerging one? (2) Understand SONY's main products in the UK game market. Is there a market for lower-end video game products of SONY? (3) Understand the sales of SONY’s video game in 2013 in the UK. Is it impressive in the industry today? (4) Understand the conditions of main contenders of SONY. Compare the sales between SONY and its main competitors in 2013. (5) Understand the market share of the low-end video games developed by SONY in the UK. Is there a market for it? What kind of consumers prefer to buy such products? 2. Analyze the establishment of a viable product marketing mix of SONY in the low-end market from the perspective of 4P marketing theory. Price (1) What is the consumer expected price (2) What pricing strategy is appropriate for SONY (3) Estimate whether the product can bring profit Product (1) How to position a suitable product to meet market demand (2) How to increase the competitiveness of the products with an outstanding product concept. Place and promotion (1) How to select ideal sales locations to boost sales (2) What promotional tools would be appropriate? Through the answers to the first part of questions, it can be known...
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...Brighton & Hove City, England, 29 – 30 September 2008 Where we are now Good Works and So Do the 4Ps. Sharing Success Stories from the U.S. Nancy Lee University of Washington, Seattle, USA and Social Marketing Services, Inc., USA & So Do The 4Ps ! Washington Washington State State #1 !! #1 WASHINGTON STATE #1 FOUR SUCCESS STORIES 1. 2. 3. 4. Tobacco Cessation Pedestrian Safety HIV/AIDS Testing Litter Prevention FOR EACH STORY Target Audience Behavior Objective Guiding Theory 4Ps Results & ROI TOBACCO CESSATION Situation: Washington State Year 2000: 1 million adult users $1800 taxpayer cost per smoker/per year Target Audience: 70% wanting to quit Behavior: Call the Quit Line Theory: Stages of Change PRODUCT PRICE PLACE PROMOTION Quit counselor Quit plan Quit kit Quit resources PRODUCT PRICE PLACE PROMOTION •Toll Free Number •Free Counselor •Free Quit Plan Kit •Online Calculator PRODUCT PRICE PLACE PROMOTION PHONE 7 days a week 5am – 9pm Message 24/7 WEB SITE Worksheet “Click to Call” button PRODUCT PRICE PLACE PROMOTION Messages Encouraging Understanding Assuring PRODUCT PRICE PLACE PROMOTION Media Channels Television Outdoor Posters Brochures Wallet cards Bar coasters Workplace activities Fax from physician Publicity RESULTS & ROI Seven years later– 100,000th call 13% of callers quit State cost per quit: $830 State savings per quit: $1800/year...
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...Marketing Mix “The four P approach has led to a manipulative attitude to people” (Gummesson, 2002:285). “What marketing deserves is new approaches, new paradigms, which are more market oriented” (Gronroos, 2002:140). “We propose that the mix has now reached its vanishing point, and we argue that marketing requires a new paradigm” (O’Malley & Patterson, 2002:50). What is common among the above three quotations is the fact that they are all against the Marketing mix. They also share the common belief that it’s time for a radical change, one where the 4Ps are rejected for a new paradigm. But the importance of the 4Ps is being undermined. Despite its limitations, they still form the base which is being used by modern organizations. This paper attempts to show the importance of the marketing mix for modern marketers and that it cannot be relegated from modern marketing strategy. The paper is divided into six parts. Beginning with the introduction it then moves on to the development of the marketing mix theory. The third part contains the literature review of the mix. The fourth asserts that marketing mix in conjunction with RM and CRM can result in a successful marketing strategy and the fifth uses Lexus as an example to prove this assertion. It ends with the conclusion. What Is Marketing Mix? The Oxford Dictionary of Business and Management’s definition of the Marketing Mix is of “the factors controlled by a company that can influence consumers’ buying of its products” (Anon...
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...Marketing International Will Xiaomi succeed in conquering West Markets ? Thèmes des cours 1. Intro 2. Global + Local = Glocal a. Glocalization (a portmanteau of globalization and localization) is a term that describes the adaptation of international products around the particularities of a local culture in which they are sold. b. glocalization broadly involves the altering of an overarching brand or product so as to better appeal to customers within a specified country or region. This phenomenon is the relative inverse of Americanization and the suppressing of local preferences in favor of providing goods and media whose content has been dictated by foreign entities. Glocalization can also involve the use of culturally friendly media to encourage the acceptance of foreign products among a local audience c. Global is the body of octopus, it “touch down” on to the local surfaces by its forces, which function as its legs 3. International Product & Brand policy 4. Price and Places opportunities 5. Communication & Promotion 6. Digitalization – Targetin & Tools 7. Alternative Business Model Questions ? Comment XIAOMI adapte-il ses produits à l’international ? Quelle est la stratégie de distribution de Xiaomi ? Quelle est la stratégie en termes d’offre produits ? o Grosse diversification sur le hardware o Offre software ? Quelle est la stratégie marketing en termes de médias ? o Keynotes & press Plan de la présentation Design : en fond de chaque slide...
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...Be ready with a case example of Management/Marketing transfer from or to your country to or from another country (SA and /or AI transfer). You are asked to cover 4Ps of Management/Marketing transfer of Product, Program, Process and People Strategies and their spiral evolution (Slides 39-47). How has the transfer changed lifestyle cultures (slide 25) of your or another country? This term paper will discuss three following aspects namely, Objectives; Methodology and Conclusion Objective: Firstly, let us reveal objectives for this term paper. The objective of the said writing is to critically analyze operations of a mnc (multi-national company) in any chosen discipline in light of Management/Marketing transfer techniques discussing its operations transferring from SA (global) to AI (local). Keeping in view, my first step is to review business performance of Europe-based Foods and Beverages Company Nestle Limited originally operated from Europe in late 1860s started primarily as Food company but expanded their businesses in other units like beverages particularly. Nestle started its operations in Pakistan from 1981 a city named Sheikhupura as their first production plant and as the time goes their production capacity was enlarged. Later on during this study I would also mention the Nestlé’s performance in terms of 4P`s of Management/Marketing. One can question this very easily why choose Nestle, and the simplest answer could be because of globally followed trend of expanding...
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...The 4P Classification of the Marketing Mix Revisited Author(s): Walter van Waterschoot and Christophe van den Bulte Source: Journal of Marketing, Vol. 56, No. 4 (Oct., 1992), pp. 83-93 Published by: American Marketing Association Stable URL: http://www.jstor.org/stable/1251988 . Accessed: 21/10/2013 10:06 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . American Marketing Association is collaborating with JSTOR to digitize, preserve and extend access to Journal of Marketing. http://www.jstor.org This content downloaded from 130.88.179.25 on Mon, 21 Oct 2013 10:06:41 AM All use subject to JSTOR Terms and Conditions Walter van Waterschoot & Christophe Van den Bulte The Classificationthe of Revisited MarketingMix 4P McCarthy's 4P classification of the marketing mix instruments has received wide acceptance in past decades. In recent years, however, increasing criticism has been voiced, among other reasons because of its inherent negative definition of sales promotion and its lack of mutual exclusiveness...
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...INTRODUCTION According to palmer (2004; 576), “the marketing mix refers to the choices available to a company or organization regarding the promotion or marketing of its product or services. Usually this process involves considerations regarding where the marketing will take place, the product or service, the customers, and the best way to carry out the promotion as a whole.” The marketing mix is not based on any theory, but on the need for marketing managers to breakdown their decision making into a number of identifiable and actionable headings. The familiar 4ps marketing mix, firmly based on the needs of the manufactured goods sector has given us the four familiar 4ps of product, price, promotion and place. These 4ps have been found to be too limited in their application to services, however the 4ps have been expanded to the 7ps to address the different nature of business. PRODUCT Product offering lies at the heart of an organization’s marketing program is usually the starting point in creating or marketing mix. Product is everything, both favorable and unfavorable that a person receives in an exchange. Dynamates Public Relations consultancy is a new company which will be offering services to other companies. This company should provide services that satisfy the needs and wants of the target market. The importance of a high quality product and services that delivers value to the extended end user is critical because it will help the consultancy to compete against it rivals...
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...Wrap & Roll www.wrap-and-roll.com Team Gi lSi T GirlSix: LOGO Contents Introduction The 4Ps-Product The 4Ps-Place The 4Ps Price 4Ps-Price The 4Ps-Promotion Conclusion Company Logo Introduction-Service Product C ’ i d t Company’s service products: www.themegallery.com Introduction-Brief history 2006 2007 2008 2010 The 1st Wrap & Roll Restaurant on Hai Ba Trung St established by Nguyen Kim Oanh Develop into Wrap & Roll chain including- 6 Restaurants & Food Court Outlets Continue to expand Wrap & Roll chain of Restaurants to 8 Recognized achievements from magazines Achieve Achievements: “Best Vietnam dishes for Crab and seafood nem”; f d ” Reach 10 outlets and p planning g overseas expansion Company Logo Introduction-Company Growth Number of Employees 35 140 200 Over 200 2006 2007 2008 2009 Number of outlets/ Restaurants 1 6 8 10 According to http://veer.vn/Company/Information.aspx?EnterpriseId=1739 Introduction-Target market Target market Description Office Staff: Middle class (salary- above 300$) . Age: 25 34 Prefer eating simply and conveniently but healthy Family Middle to high income Prefer healthy food and relaxed & clean environment for gathering together. Foreigners Mainly travelers, business man or oversea Vietnamese Prefer traditional and cultural cuisine of Vietnam Corresponding Feature/ Benefits Each dish of Wrap and Roll consists of vegetables and balanced nutritious Free...
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...1 CHAPTER © John Stillwell/PA Wire URN: 8920071 (Press Association via AP Images) What Is Marketing? structures the book and the way you should think about marketing (specifically, we’ll define all the terms in 5Cs, STP, and 4Ps). We will then dig right into the customer perspective: How does a customer (consumer or business) make a buying decision? Marketing is ultimately about deFining Marketing If you ask the average person “What is marketing?” he or she might respond in one of the following ways: >> Marketing is sales or advertising. >> Marketers make people buy stuff they don’t need and can’t afford. >> Marketers are the people who call you while you’re trying to eat dinner. These comments are probably all deserved—we have to own up to the fact that our profession, like any other, has its unsavory members. But in this book, we’ll try for a more enlightened view.1 This chapter overviews marketing concepts and terms, beginning with marketing and its vital role in today’s corporation. We then present the marketing framework that 2 Marketing is an exchange between a firm and its customers. serving customers well; to do so, we must understand what customers want. The chapter concludes by briefly describing what to expect throughout the rest of the book. 8134X_01_ch01_p002-013.indd 2 12/15/10 3:58 PM Marketing is an exchange relationship Marketing is defined as an exchange between a firm and its customers. As Figure 1.1 indicates, the customer wants something...
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...Lesson 4 Assessment Tool: Marketing Plan Framework This Assessment Tool contains real world examples, guiding principles, practical worksheets, and information that can help you complete a 4E-based marketing plan for your business. This Tool can serve as companion activities for Lesson 4. 4.1. Executive summary: This is a summary of the marketing plan, so it is usually prepared after the plan has been completed. It should summarize: Situation analysis results Marketing goals and objectives Proposed marketing actions (strategies and tactics) to meet goals and objectives Proposed marketing budget and key resources that are necessary to implement the marketing actions Expected outcomes of the proposed marketing actions 4.2. Mission Statement: This statement summarizes the guiding principles for your business. Some example mission statements are shown below with the type of information to be included. The three examples are presented in the way that you can see one from a well-established government organization and two from small businesses like yours. Try one on your own after examining the examples. A. Federal Food and Drug Administration (http://www.fda.gov/opacom/morechoices/mission.html): “The FDA is responsible for protecting the public health by assuring the safety, efficacy, and security of human and veterinary drugs, biological products, medical devices, our nation’s food supply, cosmetics, and products that emit radiation. The FDA is also responsible for advancing the...
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