Traditional marketing mix consist of 4P’s (Product, Price, Place, Promotion) now it’s extended to 7P’s the additional 3P’s are useful for services industry which will help the company to provide good services to their consumers. Only the additional 3P’s will be discussed which is related to services industry
Following are the additional 3P’s
1. People
2. Process
3. Physical [...]
Objective plays an important role in business because it shows the path that what to achieve if company don’t have any objective and keep on workings will never be satisfy of their work because employees will really don’t know that what they want to achieve? What is their aim? What is the reason of the [...]
Direct mail is actually a form of advertising, used by advertisers. Advertisers send printed ads, letters etc. to a large group of targeted consumers. These letters are mailed in bulk to reduce mailing cost; the main focus on target market mailing is done to get good response. Though it used in different situations, the method [...]
Sales promotions are generally short-term incentives. These incentives are given to encourage maximum sales of a product or service; however these incentives are not for consumers alone but can also be given to wholesalers and retailers by the company. Sales promotions comprise various communication activities, which try to offer added value to customers to stimulate [...]
Sponsorship is a business relationship, between two parties. This relationship is determined through a trade of product, fund or services where both parties seek profitable benefits. Sponsorship is basically a relationship that is equally valuable to the sponsored as well as the sponsor. It is also the fastest growing form of marketing in the world, [...]
Public relations or PR on the whole is part of management. It deals with managing the communication between the public/customer and the organization. “The main goal of a public relations department is to enhance a company’s reputation. Staff that work in public relations, or as it is commonly known ‘PR’ are skilled publicists. They are [...]
Personal selling is a very old form of promotion, it involves the use of sales force to support the push strategy, that is influencing intermediaries into buying the product or a pull strategy in which the role of sales force is limited for supporting the retailers to provide services after sales. It is a promotional [...]
Marketing is all about identifying and satisfying the needs of customer so the central focus is on customer but there are some other factors which companies have to consider can be barrier in focusing on customer satisfaction activities some of the factors or variables are under the control of the organization/company which is called micro [...]
Good product is not enough for business to be sold at good price. To generate sale in order to increase profit the product have to be communicated to the customer. This communication is known as “promotion” in marketing
Marketing communication program is known as promotion mix
1. Advertising
2. Personal Selling
3. Sales Promotion
4. Public relation
5. Direct Mail
6. Sponsorship
Advertising
It’s [...]
Marketing research can be defined as the organized assembling, recording & study of data related to marketing products or services. The basic goal or objective of marketing research is to assess and recognize how the varying rudiments of the marketing mix affect consumer behavior. The official definition by the American Marketing Association is as follows:
“Marketing [...]