The various product mix strategies are: Once the target market is identified and positioning strategy defined, the retailers employ various tools of product mix to reach out to consumers. These efforts also aim at building store image.
Promotion Information to Customer Before discussing about these Ps, one must note that all the Ps is interrelated.
A decision to make change in one of them affects the rest. Suppose the company wants to launch low- priced product, the promotion has to follow suit and the same channels where premium products are sold cannot be used to provide access to this segment of customers.
Second, each element of marketing mix contains countless variables. Third, the 4Ps of marketing have been the key areas where marketing managers allocate scarce corporate resources to achieve the business objectives.
Fourth, to show the differences between services and physical products, Booms and Bitner suggested the extension of the 4Ps framework to include three additional factors: People, Physical evidence and Process.
Services have unique characteristics: Fifth, we are considered of the view that whether it is products marketing or services marketing, marketing mix must include all the 7Ps. Finally, the marketing mix will vary from industry to industry and organisation to organisation because of different offerings.
Now we shall discuss them one by one. The Product 1st P: Before we get into finer details about the product, it would be better to know what a product is. In its widest sense every offering that is being marketed can be called a product.
Thus, not only a fridge, but fixed deposit facilities provided by a bank, lunch at a restaurant, polio vaccination campaign of UP Government, and promoting Jaisalmer during winters are all products.
A product may be either tangible like this bookor intangible telecom services. A product is a bundle of benefits which may be functional car for transportationsocial status to own a carand psychological a security that I can always move due to car.
A product offering has three independent elements Kotler et al call it as 5 product levels. The first level is the core product — consisting of core benefit a fundamental benefit — a tyre for a car.
The second level comprises of supplemental features Kotler calls them as expected and augmented product levels. For a midway restaurant between Delhi and Jaipur, one expects clean wash rooms.
Supplemental features add value to the core benefit in the form of TV, different kind of foods, free drinking water, bar, shopping arcade, lawns, fountains, etc. For a tyre, supplemental products mean installation, delivery, training, financing, replacement, etc.
Products can be consumer products and business products.
Consumer goods can be classified as fast moving soap, shampoo, etc. Business products may be classified into installations large machines ; accessory equipment calculators ; raw materials corn flour for soup powder making ; component parts mouse for a personal computer ; process material cardamom for sweetsMaintenance, Repairs, and operating items detergents for cleaning factory floors ; and Business services Speed Post.
A single product is known as a product item.
Closely related product items are referred as product line. Cinthol soap is a product item of the Soaps product line of Godrej Consumer Products Limited, as the product line Group of closely related products includes Godrej No.
A product mix is a total of all groups of products. The number of product lines refers to width of product mix; and number of product items offered in each product line is called as depth of product mix.
Like a human being, a product also has a finite life cycle. Though, some products like Coca Cola continue for a long time through improvements. Every product has four major stages: Introduction, growth, maturity and decline.customer relationship management for big bazaar.
Deals with analytical crm of bigbazaar and gives an insight into the brick and mortar industry. Amazon carefully used its acquisition strategies and investment for enabling itself in maintaining its position and continues for expanding the product range on most competitive prices and quick deliveries.
Amazon uses all the marketing mix very well and consider it as the powerful approach for attracting customers and targeting new and. It explores the most common coping strategies, in that waiting for right time to do the job is the most used coping method, because most of the police are having more experience and also seeing criminals going free and lack of personal time are most stressful events faced by the police.
Core Values in Big Bazaar. Different Customer services. Strategic Objectives of the Company. Innovative Marketing Strategies of Big-Bazaar. Impact of Big Bazaar on the Consumers Retailers.
Big Bazaar’s New Marketing Strategy. SWOT Analysis of Big Bazar. Chapter No. Big Bazaar: Innovative Retail Marketing Practices. Big Bazaar ‘ Is Se Sasta aur Accha Kahin Nahi’ The world-country chain, Big Bazaar, which is formed by the CEO of Future Group, Mr. Kishore Biyani.
The Group does not promise more than what it gives. Their basic attraction is linked to affordability, is their Unique Selling Price. Marketing Strategies Fin. Marketing Strategies Fin.
sony project report. Aviva New Final. 1. big mtb15.com people who have a meaningful life and add value to business and society. the Company places a lot of focus is placed on mtb15.comd retail professionals every year.
“Big bazaar has made customer a more knowledgeable.