Marketing Assignment Help With About Marketing On A Day To Day Basis
Marketing On A Day To Day Basis
Marketers deal with the marketing mix, which was described by McCarthy as the four Ps of marketing. These are:
- Product The product should fit the task the target consumers want it for, it should work, and it should be what the consumers expected to get.
- Place The product should be available from wherever the firm's target group of customers find it easiest to shop. This may be a high street shop, it may be mail order through a catalogue or from a magazine coupon, or it may even be doorstep delivery.
- Promotion Advertising, public relations, sales promotion, personal selling and all the other communications tools should put across the organisation's message in a way that fits what the particular group of consumers and customers would like to hear, whether it be informative or appealing to the emotions.
- Price The product should always be seen as representing good value for money. This does not necessarily mean that it should be the cheapest available; one of the main tenets of the marketing concept is that customers are usually prepared to pay a little more for something that really works well for them.
The 4-P model has been useful when applied to the manufacture and marketing of physical products, but with the increase in services provision the model does not provide a full enough picture. In 1981 Booms and Bitner proposed a 7-P framework to include the following additional factors:
- People Virtually all services are reliant on people to perform them, very often dealing directly with the consumer
- Process Since services are usually carried out with the consumer present, the process by which the service is delivered is, again, part of what the consumer is paying for. For example, A consumer seeking a fast process will prefer the fast-food place, whereas a consumer seeking an evening out might prefer the slower process of the restaurant.
- Physical evidence Almost all services contain some physical elements: for example, a restaurant meal is a physical thing, even if the bulk of the bill goes towards providing the intangible elements of the service (the decor, the atmosphere, the waiters, even the dishwashers). Likewise a hairdressing salon provides a completed hairdo, and even an insurance company provides glossy documentation for the policies it issues. Each of the above elements of the marketing mix will be dealt with in greater detail throughout the book, but it is important to recognize that the elements need to be combined as a mix.
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