Subject | Marketing Management | Module No. | 105 | Lecturer | Mrs. Chulani Senarathna | Due Date | 13th May 2011 | EXECUTIVE SUMMARY The requirement as per the assignment was to comprehend the key aspects of the extended marketing mix by applying to a realistic service organizational context. This assignment covers one of the core concepts in Marketing‚ the seven P’s‚ Product‚ Price‚ Place‚ Promotion‚ People‚ Physical evidence and Process that comes under the subject Marketing Management-
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save the Queen! Photo by Bachir MKTG-380 Services Marketing Lecturer: Alkis Thrassou Section 01 May‚ 12 2008 Zehra Fattah Anastasia Kondratenko Federico Lovat 2 1. 3 2. 3 3. 7 4. 8 5. 10 6. 15 7. 19 CONTENTS Corporate overview The augmented service Breaking down the process Flowchart Blueprint Improvement of service delivery Bibliography Can I get you anything
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INTRODUCTION: What is marketing? The definition that many marketers learn as they start out in the industry is: “Putting the right product in the right place‚ at the right price‚ at the right time.” It’s simple! You just need to create a product that a particular group of people want‚ put it on sale some place that those same people visit regularly‚ and price it at a level which matches the value they feel they get out of it; and do all that at a time they want to buy. A lot of hard work needs
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Marketing Mix is the set of marketing tools that the firm uses to produce the response from its target market. Price‚ product‚ place and promotion are the 4 P’s that make up a marketing mix. Apple 1. Product – Apple’s key products are the iPhone‚ iPad‚ and the Mac line of personal computers. Steve Jobs has always maintained that first and foremost Apple is an industrial manufacturing firm with a mission to create innovative and compelling products that are unmatched in their visual appeal and
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Introduction The term “marketing mix” was introduced by Neil Borden in his 1964 article “The Concept of the Marketing Mix”. Borden’s (1964) original marketing mix was a list of 12 elements that make up a marketing programme. McCarthy (1964) refined Borden’s list and reduced Borden’s 12 elements to four Ps: product‚ price‚ place and promotion. In addition‚ McCarthy (1964) defined the marketing mix as “a combination of all the factors at a marketing manager’s command to satisfy the target market”
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1.0 OVERVIEW OF THE SERVICE INDUSTRY We have always had service industries‚ and indeed there are numerous biblical references to services as diverse as inn keeping‚ money lending and market trading. Over time‚ the service sector has grown in volume and in the importance attributed to it. According to Baker J.M et al‚ The Marketing Book 5th Ed‚ (2003)‚ early economists saw services as being totally unproductive‚ adding nothing of value to an economy. He quotes Adam Smith as having included
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The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. Traditionally the marketing mix consisted of just 4 Ps with 3 extras; an example of marketing mix is Amazon. The most difficult task for any organization is creating an all-around environment which allows a group of customers to feel comfortable purchasing their products or services. The strategy requires the organization to determine the ideal products
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Marketing decisions generally fall into four categories; product‚ price‚ place and promotion. These categories together‚ are known as the marketing mix‚ or the 4 P ’s of marketing. Subject to the internal and external constraints of the marketing society‚ the marketing mix gives marketing managers controllable parameters to make decisions that are centered on customers in the target market. The ultimate goal of the marketing mix is to create value and generate a positive response for any organzition
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Introduction Lusch et al. (2007) describe as marketing emerged in the beginning of the 20th century‚ it embraced the goods-dominant (G-D) logic. The concept of the Four Ps of marketing mix – product‚ price‚ place and promotion became treated as the basic model at that time. (Grönroos‚ 1989) Today‚ this paradigm is beginning to lose its position. Service marketing is one leading new approach to marketing. Four main characteristics of services defined by Kotler et al. (2009) are intangible‚ perishable
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The extended marketing mix (7Ps) The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. Traditionally the marketing mix consisted of just 4 Ps. For example‚ a motor vehicle manufacturer like Audi: * Produces products that are of the highest quality and fit for the needs of different groups of consumers‚ * Offers a range of cars at value for money prices‚ depending on the market segmented they
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