Marketing Mix and Crm
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)
Product:- 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
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)
Product:- 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