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Marketing Mix

This document discusses marketing management and the marketing mix. It covers the five approaches to marketing, including the marketing approach which involves producing products that meet consumer needs, pricing correctly, distribution, and promotion. It then discusses the marketing mix, known as the "4 P's": product, price, place (distribution), and promotion. For each P, it provides details on factors to consider like product features, pricing methods, distribution channels, and promotional strategies and tools. The goal of marketing is to satisfy customer needs profitably by having the right product at the right price, place, and time.

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Deepika K Gupta
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25 views

Marketing Mix

This document discusses marketing management and the marketing mix. It covers the five approaches to marketing, including the marketing approach which involves producing products that meet consumer needs, pricing correctly, distribution, and promotion. It then discusses the marketing mix, known as the "4 P's": product, price, place (distribution), and promotion. For each P, it provides details on factors to consider like product features, pricing methods, distribution channels, and promotional strategies and tools. The goal of marketing is to satisfy customer needs profitably by having the right product at the right price, place, and time.

Uploaded by

Deepika K Gupta
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Marketing Management: Marketing Mix, Communication

Five approaches to Marketing


y y

Production Approach- produce as much as possible at lowest possible cost Product Approach- produce high quality product and the world will beat a path to your door. marketing Approach- produce a product that fills a consumer need, price it correctly, make readily available and promote it properly and the marketing success will follow Societal Marketing Approach- extend the marketing approach to consumer's and societys well-being

Agribusiness and the Marketing Approach the old way


Functional approach The nine marketing functions y Commodity approach single commodity from the farm to the fork y Institutional Approach examine the roles of the middleman
y

Use of the Marketing Approach the new way


Give direction to production y Identifying consumers, wants y Involve all part of organizational levels
y

What is Marketing
Marketing is the ability to identify and satisfy customer needs at a profit y Marketing concentrates on customer/clients and what they need or want
y

customers are the essence of marketing - they are the source of sales and profits

Aim of Marketing
The aim of Marketing is to have:
the right product or service at the right price at the right place at the right time

Marketing Mix

product
The first "P" of the marketing mix deals with the product. y The positioning, packaging, etc.
y

The Marketing Mix


PRODUCT - what is it that you are going to sell. y Product Mix - range of PRODUCTS or SERVICES offered for sale y Product Features- color, packaging, quality, brand name y Product Support - maintenance, after-sales Service, presale like advice and Quotations
y

Price
The second "P" of the marketing mix is price. y There are several options to consider regarding price: y 1) price matching, 2) price making, 3) introductory penetration pricing, and 4) a competitive upgrade price strategy.
y

The Marketing Mix


Pricing - not just how much you charge for a product but how the price fits your target market and the image you wish to develop. y Pricing Methods you choose depends on:
competition in the market and your marketing strategies demand for your product controlled pricing your costs perceived value

Place
y

The 3rd "P" of the marketing mix deals with product placement--the width of distribution

The Marketing Mix


Distribution - how your products or services reach your customers y Distribution Methods
y

Customers come to you You take the product/service direct to the customer You use an agent merchant franchise etc. to reach your customer

The Marketing Mix


LOCATION - the place of the business "locate your business where the market is". y Factors in Selecting an area:
y

Customer accessibility Adequacy of transport/communication facilities Supply of skilled labor Population Trends

Promotion
Our promotions are designed to create demand. y PR, Online Marketing, Advertising, Direct Marketing and Event Marketing.
y

The Marketing Mix


y

ADVERTISING and PROMOTION - are aimed at Making potential customers aware of the existence of your business, your product and services and to encourage them to buy from you.

The Marketing Mix


y

Different Methods of promoting your product or service Public Relations - establishing a favorable image Publicity - feeding media of information that is Of public interest (free advertisement) Sales Promotions Merchandising - point-of-sale display

The Marketing Mix


Advertising - purpose is to inform people how best they can satisfy their needs and wants and how they can benefit by buying your goods and services.

The Marketing Mix


What advertising can do Principle of AIDA A - Attention I - Interest D- Desire A - Action

http://classical http://classical add

http://Budweiser http://Budweiser

The Marketing Mix


y

Advertising Options
Local Press General Press Brochures Catalogues/Letterbox drops Direct Mail Trade Journals Magazines Directories Yellow Pages Directory Radio Television Cinema Telephone Outdoor Advertising Billboards Business Cards Internet

The Business Plan


The Values Consumer Needs

The Firms Purpose: What the firm is going to do The Firms Objective: How the firm is going to accomplish its purpose

The Marketing Plan Establish the marketing mix Analyze the current market situation, the opportunities and issues, the implementation, finance, and the control

Analyzing Market Potential


y y

The transition from mass to target marketing Estimating market potential


The macroeconomic approach The population approach The consumption approach

Discussion Questions
1. Explain why an agribusiness manager should be interested in having a clear purpose and objective. 2. Explain the relationship between marketing and the four functions of management. 3. Describe and explain how the role of marketing has changed the way agribusinesses operate. 4. Explain why it is important to adopt the marketing approach to be successful in agribusiness.

Discussion Questions
5. Describe the business planning process and explain the role of consumer needs in this process. 6. The unifying theme of this book is maximizing the long-term profits of the firm by profitably satisfying consumer needs. Explain this in your own words. Do you agree or disagree with it? Explain why you feel this way.

Discussion Questions
7. In this chapter you found the phrase by meeting a consumer need the firm earns its right to make a profit. Explain this in your words. Do you agree with this statement? Explain why you feel this way.

Discussion Questions
8. The use of the marketing approach in an agribusiness leads to greater economic efficiency and greater consumer satisfaction. Do you agree or disagree with this statement? Explain why you feel this way. 9. Identify the 4 Ps of the marketing mix and explain why they are called controllable. Explain why you would want to control them.

Discussion Questions
10. What is the difference between business planning and strategic planning? 11. Describe how information technology has changed the marketing management process. Explain your answer.

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