Categories: Marketing

Marketing Mix

&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad1" id&equals;"quads-ad1" style&equals;"float&colon;left&semi;margin&colon;0px 0px 0px 0&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;<h3>Promotion<&sol;h3>&NewLine;<p align&equals;"justify">Promotion is a way of communication to pass message to customers about firms products and services&period; The other 3Ps &lpar;product&comma;price and place&rpar; message is transferred via the 4th P&lpar;promotion&rpar;&comma; target market feel happy to know about the new product and services offered to them&period; Price factor in marketing mix encompassed the following factors channels&comma; coverage&comma; assortments&comma;l ocations&comma; inventory&period; transportation and logistics&period;<&sol;p>&NewLine;<h2>Marketing mix perspectives<&sol;h2>&NewLine;<p align&equals;"justify">There are two perspectives of marketing mix one is from buyer point of view and other is from customer point of view&period;<&sol;p>&NewLine;<h3>Seller marketing mix<&sol;h3>&NewLine;<p align&equals;"justify">The firm see themselves as the seller of the product the above discussion about the 4P&&num;8217&semi;s tells the benefits of the seller not the customer&period;<&sol;p>&NewLine;<h3>Buyer marketing mix<&sol;h3>&NewLine;<p align&equals;"justify">Buyer looking toward the offering not as 4P&&num;8217&semi;s&comma; buyer is searching a solution within the product if the needs and wants are meet then first P&lpar;product&rpar; match the customer first C&lpar;customer solution&rpar;&period; Buyer always wish to get a good retail price for the product to increase his profit margin  but its not the thing most of the customers are not rarely bother about the price of the product&comma;what they are looking for&quest; is cost of the product which they have to pay by acquiring&comma;using&comma; maintaining&comma; storing and disposing the product&period; The second P&lpar;price&rpar; should take care of second C&lpar;customer cost&rpar; will lead the product towards the success&comma; customer feel easy to buy the product at good market price&period;<&sol;p>&NewLine;<p align&equals;"justify">Firm offer their product at many location does not means that their availability is high&comma; deep analysis is required before selecting the location for firm products and services&period; Firm must look third customer C&lpar;convenience&rpar; for the buyer third P &lpar;place&rpar;&period; Firms most of the times promote their products by spending huge amount on advertising&comma; personal selling&comma; sales promotion and public relation&period; Marketing budget is not the only thing to promote the products&comma;what  matters is the communication message to the target market&comma; seller should find out whether the message is quite clear to change the perception of buyers&comma;to make them understand about the product&comma;to communicate merits of the products&comma; channels are appropriate or not&period; If the firm find the answers of these questions then their promotion strategy will work otherwise its a waste of money as well as time&period;<&sol;p>&NewLine;<h2>Criticism on Marketing Mix<&sol;h2>&NewLine;<p>There are several criticism on marketing mix due to this reason many versions of marketing mix are available on different text books&period; Some critics feel  four P&&num;8217&semi;s omit  important activities such as service&comma; the answer for this question is service is considered as part of  product it does mean that service start with S so it can&&num;8217&semi;t be the part of the first P&lpar;Product&rpar;&period; Its not matter whether their are four P&&num;8217&semi;s&comma; six P&&num;8217&semi;s or eight P&&num;8217&semi;s the thing is marketing manager can take a better decision by properly blending variables&period;<&sol;p>&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad2" id&equals;"quads-ad2" style&equals;"float&colon;none&semi;margin&colon;0px 0 0px 0&semi;text-align&colon;center&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad3" id&equals;"quads-ad3" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;

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