PROMOTION

Promotion (also one of the 4P’s of marketing) which is known as marketing communication is one of the major attribute for any of the product or services. For any brand one of the major issues faced is that of sustaining its market share. They need...

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DISTRIBUTION

Distribution channel or the marketing channel plays a very crucial role in making the product available to the final customer or the target consumer. There are various types of marketing channels or distribution channels. These are:-  Push and...

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PRICING

Pricing is the process of determining what monetary benefit a company will receive in exchange for its products. Factors that affect pricing of any product are as follows: i.         Manufacturing cost ii.        Market places iii.        Competition marker...

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PRODUCT MIX ELEMENTS

According to AMA, Product mix is defined as: “The full set of products offered for sale by an organization. The product mix includes all product lines and categories. It may be defined more narrowly in specific cases to mean only that set of products in a particular product line or a particular market”. Every company’s product mix has a certain...

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PRODUCT LEVELS

CORE BENEFIT : The benefit the customer is really buying is satisfaction and indulgence. Magnum being a premium ice cream brand has to offer these basic benefits to the customer in order to gain the customer value. BASIC PRODUCT : The...

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MARKETING MIX ELEMENTS

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PRODUCT LIFE CYCLE

The Product Life Cycle (PLC) is used to map the lifespan of a product. It is the period of time over which an item is developed, brought to market and eventually removed from the market. There are generally four stages in the life of a product. These four...

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COMPETITION AND COMPETITORS

For any product, one of the most important things to be thought about is its market competition. What are the closest substitutes to their products, who can be a threat to the market share of the product etc. There is however a noticeable difference between...

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BUYING DECISION PROCESS AND CONSUMER BEHAVIOR

For any product, it is essential to know what factors influence the consumer behavior. It is defined as the study of how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and...

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CUSTOMER VALUE AND BENEFITS

 “The difference between the prospective consumer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives“ – by Philip Kotler. The concept of customer value is one of the most important factors affecting the marketing...

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