Marketing Mix Presented by Balachandar K. MBA., PGDRM. Business – Needs and wants. Market – place where buying and selling activities takes place. Philip Kotler defines marketing as “satisfying needs and wants through an exchange process” Marketing concept • • • • • Production concept Product concept Sales concept Marketing concept Societal Marketing concept. – Taking care of customer to get long term benefit. Marketing Strategy = Marketing Mix + Target Segment. Marketing mix or 4P’s E. Jerome Bob Lauterborn, Supply side McCarthy - 1960 Professor North model Carolina Chekitan Dev and Don Schultz Marketing manager as a “mixer of ingredients” James Culliton, 1940. Marketing mix Neil H. Borden, 1953. 4P’s 4C’s SIVA Model 4V’s Product Consumer wants and needs Solution Validity Promotion Communication Information Vogue Price Cost to satisfy Value Value Place Convenience to buy product Access Venue 4P’s 4c’s SIVA Model 4V’s Product IPhone 2.0 Consumer wants and needs IPhone 3g and 3gs ( No front camera) 3G Solution IPhone 4 (Phone with front camera) 4G Viability IPhone 4s ( Personal assistant SIRI) 4G. Usage of plastic bags banned. Promotion. Just conveying about the product. Communication Interactive program. Two way communication. Using web address, phone number, creative. Credit cards. Information ( Giving details). Through blogs, Videos. Vogue ( Communication should be of two ways and should match the trend of the market) Eg: Diwali, Christmas, Aadi sale Popular, Acceptable. Price. ( You didn’t looked for other cost involved in buying the product) Cost to satisfy (Include the cost involved such as transportation, time spent) Value (This emphasize more on the value they got by paying the price) Value (This emphasize more on the value they got by paying the lowest price). Access (Ease of buying a product should be there. Also it should reach in specific time) Venue ( Even your own place can be a marketing place, Pizza delivered at home, Internet sales, Internet banking) 2G Place Convenience (Retailer, Wholesaler, (Pre order online – IPhone 4s, Distributors, Flipkart.com, Door delivery) Inventory, Warehouse) Insights of Marketing Mix For references:• http://vivek-markadiser.blogspot.com/2010/03/evolving-marketingbasics-4-vs-for-4-cs.html • http://www.customfitfocus.com/marketing-1.htm • http://www.daden.co.uk/models/siva_marketing_model.html • thisayakorn.hubpages.com/hub/marketing-4Ps-4Cs-4Vs • http://www.netmba.com/marketing/mix/ • http://www.sales-and-marketing-for-you.com/define-marketingmix.html • http://www.sales-and-marketing-for-you.com/what-is-themarketing-mix.html • Obviously:- Philip Kotler – Marketing Guru.