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Marketing Mix (Product (Concerned on (Quality, Convenience of use, Design,…
Marketing Mix
Product
Classification
Physical Object
Service
Place
Personality
Concerned on
Quality
Convenience of use
Design
Technology
Packaging
Brand
Warranties
Product Mix
Total variety of products a firm sells
Product Life Cycle
Growth
To Pursuade
Maturity
To remind
Introduction
To inform
Decline
Product Adoption Curve (Rogers' Theory)
Innovator
Tech Enthusiats
Early adopter
Visionaries
Early Majority
Pragmatists
Late Majority
Conservatives
Laggards
Skeptics
The BCG Matrix
Star
Question Mark
Cash Cow
Dog
Product Bundling
Mixed Bundling
Cross Industry Bundling
Pure Bundling
Premium Bundling
New or lesser product bundling
Benefits of Bundling
Increse Speed
Increase Efficiency
Advertising Opportunity
Extra Sales
Competitive Tactic
Product Management
Product Life cycle Management (PLM)
Product Line Extension
Up-market Stretch
Two way Stretch
Down-market Stretch
Product Branding
Brand
Or a combination of the above
Sentence
Word
Name
Logo
Symbol
Mark
Brand Equity
The amount customers are willing to pay just because its your brand
Characteristics of a good brand
Worthy
Loved
Clear
Dependable
Authentic
Attractive
Different
Accountable
Brand Extension (Brand Stretching)
uses the same brand name in a different
product category.
Brand Management
Intangible Elements
Consumers' Experience and Relationship with the brand
Tangible Elements
Look, Price, Packaging
Ansoff Matrix
Market Penetration
Market Development
Product Development
Related Diversification
Unrelated Diversification
Price
determines firm's profit and survival
Big impact on the entire marketing strategy
Values assigned for a product
greatly affects sales and demand of the product
Pricing Strategies
Psycological
Rs. 999.99/=
Multiple unit
Push Strategy
Market skimming
setting higher price
Market Penetration
Low initial price
Bundle
software bundles
Differential
offering different customers different prices for the same product
Loss Leader
set price below their cost to attract customers
Competitor based
Price Matching
Going rate Pricing
Predator Pricing
Promotion
create awareness about the product or
service to the customers
Promotional Strategy
Push Strategy
Pull Strategy
Public Relations & Publicity
Sales Promotion
Personal Selling & Sales Force
Endorsements
Campaigns
Billboards
Posters
Place
Placement
position and distribute the product in a place that is
accessible to potential buyers.
available at convenient and
most suitable outlet
right place at right
time
Channels of Distribution
Distributor
Retailer
Agent
Mail order
Direct Selling
Internet
Peer to Peer
Multi Channel
Characteristics of Good Business Location
Strategic Location
Allowance for Expansion
fit for the location or not
availability of power, fuel as well as water supply
abundant supply of raw materials
Place & Distribution Strategies
Intensive
products in as many outlets as possible.
Selective
producer using a limited number of
outlets in a geographical area
Exclusive
limiting distribution to a single outlet
Product Mix Extension
Processes
Physical Evidence
The consumers judgment regarding the service
People
Target market and people directly related to the business