03. marketing mix

THARAKA DIASDirector – Essence BTC

MBA(USA), MBA(Aldersgate),BBA(USA), Dip in Mgt, ACIM(UK), FAEA(Dip in AEA-UK), FinstSMM(UK),

CPM(Asia), MSLIM, PM(Sri-Lanka)

Marketing Mixes have to be changed from time to time in response to new factors in the marketing picture. The firm can react to environmental changes in an expedient or a systematic fashion”

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The concept is simple. Think about another common mix - a cake mix. All cakes contain eggs, milk, flour, and sugar. However, you can alter the final cake by altering the amounts of mix elements contained in it. So for a sweet cake add more sugar!


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VarietyQualityDesignFeaturesBrand NamePackagingService


Pricing is replaced by cost, reflecting the reality of the total cost of ownership.

List PriceDiscountsAllowancesPayment PeriodCredit Terms


Placement is replaced by the convenience function.

With the rise of internet and hybrid models of purchasing, place is no longer as relevant as before.

Convenience takes into account the ease to buy a product, find a product, find information about a product, and several other considerations.


Channels of distribution are the routes through which the ownership of goods flow on its way from the producer to the customer

DistributorSuper-stockistWholesalersRetailers


Finally, the promotions feature is replaced by communication.

Communications represents a broader focus than simply promotions.

Communications can include advertising, public relations, personal selling, viral advertising, and any form of communication between the firm and the consumer.


AdvertisingPersonal sellingSales promotion- POSPublic RelationsWord of mouth – Viral advertising


There have been attempts to develop an 'extended marketing mix' to better accommodate specific aspects of marketing.

For example, in the 1970s, Nickels and Jolson suggested the inclusion of packaging.

In the 1980s Kotler proposed public opinion and political power


The 7 Ps The 7 Cs Organisation Facing Customer Facing

Product = Customer/ ConsumerPrice = CostPlace = Convenience

Promotion = CommunicationPeople = Caring

Processes = Co-ordinatedPhysical Evidence = Confirmation


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03. marketing mix

Marketing

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