Marketing Mix and Crm

Topics: Marketing, Customer relationship management, Customer service Pages: 8 (2280 words) Published: December 11, 2011
Marketing Mix
The primary marketing concerns today have most of the apprehensions about building the 4ps rather four pillars of marketing. A successful mix of the right product sold at the right place in the right time using the most suitable promotion is vital for marketing. It serves as a link between the firm and its customers. “Deriving benefit out of the various elements of the mix, linking them all together in a balanced format is the marketing focus today.” (Ferrel, 2008) The 4ps namely

• Product
• Price
• Place
• Promotion

“Form the marketing mix. Each of them has its own ramifications extending into many factors to be considered under each head. On the basic level the combination of these four define the beginning and the end of the marketing process.” (Kotler, 2011)

The product is mostly developed after doing a market research and judging the demand of the market but sometimes market research also does not provide reliable result as in the case the market research showed that the market is not ready for the product but the company went against the market research results and launched the product and the product was a huge success. So development of the product is not always derived from customer needs but sometimes need can be created for the product. Price :- This is what determines the profit margin for the company and value the customer would expect for the product to cater. Although price factor is considered to be determined keeping the customer’s expectations and views in focus but covering the cost factor and the value the product is providing to the customer is empirically is stressed upon. This is due to the fact that value proposition that the product addresses is also dependent upon the place in which it is sold. The pricing factors has different effect on the different segments of the society. Some calculate the value with respect to the price they have paid for the product. This is mostly in the low end segment. The cheaper the product and more durable it is the more value the product is able to deliver. The middle level customer demands a mix of price as well as quality. “The value proposition by the product should be balanced of the scale of both aspects. Whereas the high end consumers are the least price conscious. They prefer high quality product. They value the product on the differentiation and the social status the product provides to the customer. Like in the case of automobiles or cell phones. The more recent and more pricy the model, the more it is sold in the high end segment market.” (Kotler, 2011) On this basis pricing can be divided into

• Penetration pricing
• Market skimming
• Cost plus pricing
• Target pricing
• Marginal cost pricing
• Loss leader pricing
• Going rate pricing
• Price discrimination
• Destroying pricing
• Physiological pricing

Place :-
It commonly refers to the place where the product is being sold. Transporting the product to that place, storing to the product and making it reach the customer at the right place in the right time is the variables related to place. Each variable is contingent to various factors such as strategy adopted by the business firm, the existent demand and demand fluctuations. Promotions:-

“A successful promotion is also contingent to many factors like what is the objective of the campaign, to create awareness about the product, to remind the customer about the product or provide knowledge about somaething new that has been added in the product.” (Murray 2006). The time and place of the promotion is also very important. The target customers are sought out and the place is decided keeping in mind the target customer. Like promotions jams and other eatables would be placed near the schools. Time is also important. Like the promotion near the schools are mostly done at the time of recess or at the time when the school gets...
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