SELF - Marketing Mix

                                          ( Marketing Mix 4 P's)

1. Product
2. Price 
3. Place 
4. Promotions

Level of Product

• core product

1. Product bought
2. Tangible in nature

• Actual Product

1. Product- Internal features | brand name |packaging features
2. Brand differentiation

• Augmented product

1. Additional benefits
2. Services

• (Product Strategy - Decision Area)

1. Product attribute (same features | same amount of quantity quality)
2. Packaging  (eg- kinder..)
3. Labelling and logos ( Identifier)
4. Support services (eg -AWS customer centric )

(Product Life Cycle)

1. Introduction stage  (time consuming | focus : product Awareness )
2. Growth Stage (High sales rate | growth and revenue )
3. Maturity Stage ( Flattened sales | Reposition | Rebranding )
4. Decline Stage ( a. Differ for products | b. Focus : Replace or kill brand )

                              Price Definition

• Customer point of view  (overall package )  
• Marketer point of view (cost |of product |revenue brand positioning

[Price Ceiling ]

Product Perceived value 

Product cost to company

[Price Floor ]

PRICING STRATEGIES 

1. Customer value -based pricing ( Based on value of product in consumer mind)
2. Cost based pricing (determined by cost of product and distribution)
3. Competition based pricing (based on same category product competition)

eg.

Soap (Manufacturing) + Distribution + Retailer + Logistic + Brand building (advertisement)

PLACE 

Logo | Packaging | Color |Schemes | Labelling 

SUITABLE PLACE

• Distributers  - Contract | Supply bulk order  region | Industry specefic
• Whole seller - Bulk purchase good distribute to smaller and larger shop
• Retailer - Supply good to consumer
• Stockists - Keep storage of product 

PROMOTIONS

Elements of promotion Strategy 

1. Advertising
2. Sales
3. Direct and Digital Marketing
4. Public Relation
5. Personal Selling

Product Life Cycle

• Introduction - Informative + increase product awareness  

                              - Strengthen Product messaging

• Growth Stage -  Increase base of loyal customers

                                 -  Increase product revenue 

• Maturity Stage - Elaborate the lifecycle of product

                                   - Price change sales and promotions increases

• Decline Stage - Reposition of promotional messages

                                 -  Repackaging of brand's and communication