Marke t ing Mix
Marketing Mix is the set of marketing tools that the firm uses to pursue its marketing objectives. Marketing mix has a classification for these marketing tools. These marketing are classified and called as the Four Ps i.e. Product, Price, Place and Promotion. The most basic marketing tool is product which includes product d e s i g n , q u a l i t y, f e a t u r e s , b r an d i n g , a n d p a c k a g i n g . A critical marketing tool is price i.e. the amount of money that customers pay for the product. It also includes discounts, allowances, credit terms and payment period. Place is another key marketing mix tool. And it includes various activities the company undertakes to make the product accessible a n d a v a i l a b l e t o t h e c u s t o m e r. S o m e f ac t o r s t h a t d e c i d e t h e p l a c e a r e transport facilities, channels of distribution, coverage area, etc. Promotion is the fourth marketing mix tool which includes all the activities that the company undertakes to communicate and promote its product to target market. Promotion includes sales promotion, advertising, sales force, public relations, direct marketing, etc.
Inmarketing, a product is an ything that can be offered to a market t h a t m i g h t s a t i s f y a w a n t o r n e e d . I t i s o f t w o t y p e s : Ta n g i b l e ( p h y s i c a l ) a n d I n t a n g i b l e ( n o n - p h ys i c a l ) . S i n c e s e r v i c e s h a v e b e e n at the forefront of all modern marketing strategies, some intangibility has become essential part of marketingoffers. It is therefore the complete bundle of benefits or satisfactions that bu yers perceive they will obtain if they purchase the product. It is the sum of all physical, ps ychological, symbolic, and service a t t r i b u t e s , n o t j u s t t h e p h ys i c a l m e r c h a n d i s e . A l l p r o d u c t s o f f e r e d i n a m a r k e t c a n b e p l a c e d b e t w e e n Ta n g i b l e ( P u re P r o d u c t ) a n d Intangible (Pure Service) spectrum. A product is similar to goods. In accounting, goods are physical objects that are available in the marketplace. This differentiates them from a service, which is a non-material product. The term goods is used primarily by those that wish to abstract from the details of a given product. As such it is useful in accounting and economicmodels. The term product is used primarily by those that wish to examine the details and richness of a specific market offering. As such it is useful to marketers, managers, and quality control specialists.
23 A service is a non-material or intangible product - such as p r o f e s s i o n a l c o n s u l t a n c y, s e r v i n g , o r a n e n t e r t a i n m e n t e x p e r i e n c e .
T h e C o c a - C o l a f o r m u l a i s T h e C o c a - C o l a C o m p a n y' s s e c r e t r e c i p e for Coca-Cola. As a publicity marketing strategy started by Robert W. Wo o d r u f f , t h e c o m p a n y p r e s e n t s t h e f o r m u l a a s o n e o f t h e m o s t closely held trade secrets ever and only a few emplo yees know or have access to. This Coca-Cola formula appearsto be the original formula to Coca-Cola. It is from the book “For God, Country and Coca-Cola”.
The company Coca-cola is a multinational and it is not limited to one product. Through the years they have invented and introduced many products than their main cola drinks. The list of Coca-cola brands are as follows:
24 1. Appletiser 2. Aquarius 3. BPM Energ y 4. Barq's 5. Beat soda 6. Beverly 7.Cannings 8. Cheers 9. Ciel 10.Coca-Cola Black C h e r r y Va n i l l a 11 . C o c a - C o l a B l a k 12.Coca-Cola C2 13.Coca-Cola Cherry 14.Coca-Cola Citra 15.Coca-Cola M5 16.Coca-Cola Zero 17.Coca-Cola 18.Coca-Cola with Lemon 19.Coca-Cola with Lime 20.Dasani 21.Delaware Punch 22.Diet Coke 23.Fanta 24.Fanta Citrus 25.Fioravanti 26.Fresca 27.Frisco 28.Fruitopia 29.Frutonic 30.Full Throttle...