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MARKETING MANAGEMENT - PRODUCT DECISIONS

Significant Of Marketing Mix - PRODUCT DECISIONS

   Posted On :  18.06.2018 02:20 am

The most popular 4 Ps’ framework as suggested by McCarthy with the marketing mix variables- products, place, promotion and price had origination from the study of the manufacturers – i.e.

Significant Of Marketing Mix

The most popular 4 Ps’ framework as suggested by McCarthy with the marketing mix variables- products, place, promotion and price had origination from the study of the manufacturers – i.e. the organization engaged in production and marketing of goods – it is more oriented to deal with goods marketing situations. However, service characteristics are radically different fro goods; and so are the challenges in their marketing. It is wrong to imply that services are just like products except for intangibility. But such wax-like logic as “apples are just like oranges, except for their appleness’’ does not stand the heat of nuts-and-bolts.
 
Marketing Product / service characteristics and add new dimensions to a marketing situation that is faced by the service manager. Given the product / service characteristics and activities in product/service firms, eight Ps’ framework for services has been proposed. For the services, the additional prescribed Ps given below refer to activities that are service marketing mix can be summarized as follows:
 
Product             - service core, levels, additional services, branding.
 
Price                  - price, discounts, terms of payment.
 
Place                  - location, channels of distribution, coverage.
 
Promotion        - Advertising, sales promotion, personal selling and publicity.
 
For Service Additional 4 Ps Were Added For Marketing Services.
 
They Are:
 
People               - customer-provider relationship, training, culture, skills, and attitudes.
 
Physical             - ambience, appearance, equipment, machines
 
Evidence           - Buildings, physical facilities
 
Process               - Activity sequence, quality management, customer participation and delivery process
 
Productivity - Efficiency of human and non-human capitals in the production process. But our discussion limits only to the first four Ps. 
Tags : MARKETING MANAGEMENT - PRODUCT DECISIONS
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