Planning the Marketing Mix (4p’s)

Planning the Marketing Mix (4p’s)

1. Product activities
Quality/ features / style / brand name / packaging / size / service / warranty / returns
2. Pricing activities
Target customers / costs / competition / the law / social responsibility
3. Promotion activities
Advertising / personal selling / sales promotion / publicity and public relations
4. Place activities (distribution)
Physical distribution: transportation / warehousing & storage / order processing / inventory control / location

Marketing Environment

Types of Marketing Environments:

Macroenvironment refers to the broad demographic, societal, economic, political, and technological forces that an organization faces.

1. Demographic environment
   Worldwide population growth/ population age mix / ethic markets / household patterns / geographical shifts in population, etc
2. Economic environment
   Stages in business cycle/ inflation & deflation/ unemployment / income distribution, etc
3. Social cultural
   High persistence of core values / existence of subcultures / shifts of secondary cultural values through time
4. Natural
   Shortage of raw materials/ increased energy costs/ increased pollution level, etc
5. Technological
   Accelerating pace of technological change / unlimited opportunities for innovations / increase regulation of technological change
6. Political-legal
   Legislation governing business – laws maintaining a competitive environment / laws regulating competition / laws protecting consumers / laws deregulating specific industries

Microenvironment refers to the forces close to an organization that have a direct impact on its ability to serve its customers

What is Marketing?

Marketing is getting the right goods and services to the right people with the right places at the right time at the right price with the right communications and promotion.

Marketing is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return.

Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives.

What is Marketed?
1 Goods
2 Services
3 Events
4 Experiences
5 Persons
6 Places
7 Properties
8 Organizations
9 Information
10 Ideas

Key Customer Markets
- Consumer markets
- Business markets
- Global markets
- Nonprofit/Government markets

Marketing orientations
- Marketing Concept
- Product Concept
- Production Concept
- Selling Concept
- Societal Concept

Marketing Mix (4Ps)
- Product
Brand, service, product line variety, warranty, style, design, colour, packaging, sizes
- Price
List price, discounts, allowances, payment period, credit terms
- Place (distribution)
Transportation, storage, handling, inventory, retailers, wholesalers
- Promotion
Persuasion, advertising, personal selling, displays, publicity, merchandising, sales promotion, direct marketing

Marketing Strategy
- Market segmentation
- Product planning
- Promotion
- Physical distribution
- pricing

Segmentation, Targeting, Positioning
A marketer would firstly segment the market, then target a single segment or series of segments, and finally position within the segment(s).

- Segmentation
The identification of subsets of buyers (separation of the buyers) within a market who share similar needs and who demonstrate similar buyer behavior.
- Targeting
After the market has been separated into its segments, the marketer will select a segment or series of segments and 'target' it/them.
- Positioning
A company has to develop a positioning strategy for each segment it chooses to serve. This relates to the task of distinguishing a particular company’s products occupy a planned for place in chosen target markets, pertinent to opposing competition in the marketplace.