TRAN HOANG MY - PDF Flipbook
TRAN HOANG MY
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MARKETINGMIXMARKETING MIX – 4P’S VS. 7P’S
Place
Product Price Price 4P
Product
7P Promotion
People
4P
Promotion Place 3P Physical
Evidence
Process
Classic Consumer Goods Marketing Expanded Service Marketing
4 P’S MARKETING MIX EXISTING IN PROGRESS
PRODUCT Features Quality Discounts PRICE
Allowances
Payment terms
Packaging
PLACE Inventory Public relations Direct marketing PROMOTION
Market coverage
Transportation
Advertising
7 P’S MARKETING MIX 04 PRODUCT
01 PLACE Place • Design
• Technology
• Retail • Usefulness
• Wholesale • Convenience
• Mail Order • Warranties
• Internet
• Direct Sales 05 PEOPLE
02 PRICE Physical Price • Employees
Evidence Promotion • Management
• Skimming • Culture
• Penetration TARGET • Customer Service
• Psychological MARKET • Personnel
• Cost-Plus
• Loss leader, etc. 06 PROCESS
03 PROMOTION Process • Especially relevant to service
industries
• Special Offers 07
• Advertising • How are services
• Endorsement consumed?
• User Trials
• Leaflets/posters • Performance & analytics
• Validation
PHYSICAL EVIDENCE
People Product • Interface
• Comfort
• Facilities
• Foot traffic
• Store lines
8P’S MARKETING MIX
PERFORMANCE PRODUCT
How well the service competes in the marketplace, Includes design, packaging, usability,
including measuring the company’s financial goals quality, features, colors and size options
PROCESS TARGET CLIENT PRICE
Activities and actions involved in Depends on packing, discounts, timing,
delivery of the product to the customer location, shipping and other offer elements
PHYSICAL EVIDENCE PLACE
Environment in which service occurs and Includes retail, wholesale, internet,
customers and service personnel interact phone and other multi-channel options
PEOPLE PROMOTION
Includes employees, customer service, Advertising, communications, messaging and
and everyone with customer contact content to persuade the customers to buy
PROMOTION MIX
MASS OR CUSTOMIZED PAYMENT STRENGTHS WEAKNESSES
Advertising Mass Fees paid for space or time • Efficient means for reaching • High absolute costs
Personal selling Customized large numbers of people • Difficult to receive good
Public relations
Sales promotions Mass feedback
Direct marketing
Fees paid to salespeople as either • Immediate feedback • Extremely expensive per
salaries or commissions • Very persuasive exposure
• Can select audience
• Can give complex information • Messages may differ between
salespeople
No direct payment to media • Often most credible source in • Difficult to get international
the consumer’s mind media cooperation
Mass Wide range of fees paid, • Effective at changing behavior • Easily abused
Customized depending on promotion selected in short run • Can lead to promotion wars
• Easily duplicated
• Very Flexible
Cost of communication through • Messages quick to prepare • Declining customer response
mail, telephone, or computer • Facilitates relationship with • Database management is
customers expensive
POTENTIAL PRODUCT PRODUCTPRODUCT LEVELS
AUGMENTED PRODUCT
POTENTIAL PRODUCT
EXPECTED PRODUCT
GENERIC PRODUCT This provides additional tangible and intangible features
CORE PRODUCT AUGMENTED PRODUCT
Goes beyond physical product and sets it apart from competitors
EXPECTED PRODUCT
This offers generic product plus other attributes consumer wants.
GENERIC PRODUCT
This provides actual product with tangible qualities
CORE PRODUCT
This fulfills basic benefits consumers want
PRICING STRATEGIES
THE MOST COMMON APPROACHES
01 02 03 04 05 06 07 08
PENETRATION ECONOMY PROMOTIONAL COMPETITIVE VALUE-BASED COST-PLUS SKIMMING PREMIUM
To enter the market Budget pricing of a Discounts, gifts, Price based on Price based on what Calculating prices Set a high price to Product is priced higher
and gain market share product or a service coupons, competitor prices customer believes based on costs and start and lower it as based on unique
the product is worth branding strategy
buy-one-get-one-free adding a markup market evolves
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