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    Recognize The Importance of Marketing Mix

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    Alejandrina Torres
    The document discusses the marketing mix, which is defined as a set of tactical actions used by marketers to promote a product. It explains the traditional 4Ps marketing mix as well as the modernized 4Cs mix of Cost, Commodity, Channel, and Communication. The marketing mix helps companies in new product development, increasing their product portfolio, guiding business improvements, and differentiating themselves from competitors. It emphasizes understanding customer needs over products and convenience over place. The marketing mix is an important guide for businesses.

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    Recognize The Importance of Marketing Mix

    Uploaded by

    Alejandrina Torres
    61 views33 pages
    The document discusses the marketing mix, which is defined as a set of tactical actions used by marketers to promote a product. It explains the traditional 4Ps marketing mix as well as the modernized 4Cs mix of Cost, Commodity, Channel, and Communication. The marketing mix helps companies in new product development, increasing their product portfolio, guiding business improvements, and differentiating themselves from competitors. It emphasizes understanding customer needs over products and convenience over place. The marketing mix is an important guide for businesses.

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    Recognize the Importance of Marketing Mix

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    Recognize the Importance of Marketing Mix

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    The document discusses the marketing mix, which is defined as a set of tactical actions used by marketers to promote a product. It explains the traditional 4Ps marketing mix as well as the modernized 4Cs mix of Cost, Commodity, Channel, and Communication. The marketing mix helps companies in new product development, increasing their product portfolio, guiding business improvements, and differentiating themselves from competitors. It emphasizes understanding customer needs over products and convenience over place. The marketing mix is an important guide for businesses.

    Copyright:

    © All Rights Reserved
    61 views33 pages

    Recognize The Importance of Marketing Mix

    Uploaded by

    Alejandrina Torres
    The document discusses the marketing mix, which is defined as a set of tactical actions used by marketers to promote a product. It explains the traditional 4Ps marketing mix as well as the modernized 4Cs mix of Cost, Commodity, Channel, and Communication. The marketing mix helps companies in new product development, increasing their product portfolio, guiding business improvements, and differentiating themselves from competitors. It emphasizes understanding customer needs over products and convenience over place. The marketing mix is an important guide for businesses.

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    of 33

    Week

    Recognize the
    Importance of
    Marketing Mix
    TEACHER ALEJANDRINA M. TORRES
    Marketing
    Mix
    It defines as a mixture of several
    ideas and plans followed by a
    marketing representative to
    promote a particular product or
    brand
    (ManagementStudyGuide.com
    2008).
    Marketing
    Mix
    The marketing mix is the tactical
    or operational part of a
    marketing plan. The marketing
    mix is also called the 4Cs and the
    7Ps.
    “set of marketing tools that the
    firm uses to pursue its marketing
    objectives in the target“.
    The 4 C's of
    Marketing
    Cost
    Forget price. Understand
    the consumer’s cost to satisfy
    that want or need.
    Price is only a subset of total cost
    incurred to satisfy the want or need.
    The consumer incur much more
    expenditure in acquiring your good or
    service.
    Commodity: Consumer
    wants and needs
    Forget product. Study Consumer
    wants and needs.
    In this highly competitive
    environment, your product will
    not create its own demand if it
    isn’t desired by the consumer.
    Channel: Convenience
    Forget place. Think convenience
    to buy.

    Convenience is the key to more


    sales. Most of your customers
    choose a product based on the
    convenience of purchase.
    Communication
    Forget promotion. The word is
    communication.
    While promotion is
    manipulative and is forced to
    the buyer, communication is
    cooperative and is approved
    by both the seller and the
    buyer.
    Importance
    of
    Marketing
    Mix
    It helps a clean mix creation.
    It helps in new product
    development.
    It helps increase the product
    portfolio.
    It is a guide to improve the business

    It helps in differentiation.
    It helps you to be Dynamic.
    Activity 1: True or False

    Say Verdadera

    Say falsa
    1.Marketing Mix is the
    set of actions, or tactics,
    that a company uses to
    promote its brand or
    product in the market.
    1. VERDADERA
    2. Commodity is also a
    communication in a
    modernized term by Robert
    F. Lauterborn four C’s of
    Marketing Mix.
    2. FALSA
    3.The 4 C’s of Marketing
    Mix are Commodity, Cost,
    Channel and
    Communication proposed
    by Koichi Shimizu in the
    year 1973.
    3. VERDADERA
    4.Marketing Mix
    helps you in
    developing your new
    product.
    4. VERDADERA
    5. You cannot choose
    Marketing Mix as
    your guide in doing
    your gap analysis
    5. FALSA
    6. Marketing mix can
    help you to make your
    business different from
    competitor.
    6. VERDADERA
    7. Being a dynamic is
    being well prepared.
    7. VERDADERA
    8.Minor changes in
    product features will not
    affect the entire product
    portfolio.
    8. FALSA
    9.Market is a set up where
    two or more parties
    engage in exchange of
    goods, services and
    information.
    9. VERDADERA
    10. The term
    “marketing mix” was
    introduced by Neil
    Borden in the year 1954.
    10. FALSA
    Activity 3: Read Nike Marketing Mix Strategy
    ce
    an What is the product strategy of Nike
    rm in their Marketing Mix Strategy?
    rfo sk
    Pe Ta
    Enumerate the Place and Distribution
    used by Nike and explain why they
    chose those channels?

    Why Nike used Social Media


    marketing such as Youtube, Facebook
    and Instagram platforms?
    Why Nike pricing is carried out
    targeting the consumers of the
    premium segment?
    Thank you
    for your
    participation!!!

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