To get a better understanding about this, please start reading from the first post of the series.
THESIS: The Marketing Communication Strategy of Blue Bird Taxi To Maintain Market Leader Position After Using The Highest Tariff:
- Introduction & Book Cover : Part 1
- Research Originality Statement and Acknowledgement : Part 2
- Abstract : Part 3
- Table of Contents : Part 4
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(Chapter II continued...)
2.6.
Marketing Mix
The definition of Marketing Mix is the set
of controllable tactical marketing tools that the firm blends to produce the
response it wants in the target market. The marketing mix consists of
everything the firm can do to influence the demand for its product. The many
possibilities gather into four groups of variables known as the ‘four P’s’;
Product, Price, Place and Promotion. (Kotler et al., 1999:109)
- Product
Product is anything that can be
offered to a market for attention, acquisition, use or consumption that might
satisfy a want or need. It includes services, physical objects, persons, places,
organization and ideas. It is the totality of goods and services that the
company offers the target market. The marketing tools under product are:
variety, quality, design, features, brand name, packaging, services and
warranties.
- Price
Price is the amount of money
charged for a product or service, or the sum of the values that consumers
exchange for the benefits of having or using the product or service. It is what
customers pay to get the product. The marketing tools under price are: list
price, discounts, allowances, payment period and credit terms.
- Place
Place is all the company
activities that make the product or service available to target customers. The
marketing tools under place are: channels, coverage, assortments, locations,
inventory and transport.
- Promotion
Promotion is the activities that
communicate the product or service and its merits to target customers and
persuade them to buy. The marketing tools under promotion includes:
advertising, promotions, personal selling and publicity.
The services mix is an expansion of the
marketing mix that includes: People, Process and Physical evidence. (Botha et
al., 2007)
- People
This includes all the people who
play a part in the delivery of service and influence the buyer’s perception.
This includes the staff, the customer, and the front-line service personnel.
- Process
This includes all the actual
procedures and activity flows through which service is delivered. The
organization’s operating system and the service delivery system are included in
this process.
- Physical evidence
This is the environment in which
the service is delivered, as well as the boundary at which the company and the
customer interact. It also includes the tangible aspects of delivering the
services or communicating the service.
An effective marketing program blends the marketing
mix elements into a coordinated program designed to achieve the company’s
marketing objectives. From a customer viewpoint, each marketing tool must
deliver a customer benefit. One marketing expert suggests that companies should
view the four Ps as the Customers four Cs, which is: Customers, Cost, Convenience
and Communication
2.7.
Integrated Marketing Communications
Marketing communications is the collective term for all communication functions used in marketing a
product. The purpose of marketing communications is to add persuasive value to
a product for customers. (Kitchen & de
Pelsmacker, 2004:20). Yeshin (1998:3) defines marketing communication as the
process by which the marketer develops and presents an appropriate set of
communications stimuli to a defined target audience with the intention of
eliciting a desired set of responses. In fact, the marketing communications
functions help build a brand by connecting a company with customers and
influencing the information processing activities of stakeholders (Ouwersloot
& Duncan, 2007:8)
Kotler & Keller (2006:536) mentions that
marketing communication from the view
point of the producer
is to inform, persuade and
remind the customer
about the products
and brand that they
sell. This can contribute to
brand equity by establishing the brand in the memory and crafting a brand
image.
Integrated marketing communications, or IMC,
is defined by the American Association of Advertising Agencies as a concept of
marketing communications planning that recognizes the added value of a
comprehensive plan. Such a plan evaluates the strategic roles of a variety of
communications disciplines, for examples general advertising, direct response,
sales promotion and public relations; and combines these disciplines to provide
clarity, consistency and maximum impact through the seamless integration of
messages. (Kotler & Keller, 2006:558)
