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                                     LEVELS OF PRODUCT

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                                     LEVELS OF PRODUCT

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Advertising, Public Relations,    Personal Selling, Sales Promotions

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Advertising, Public Relations,    Personal Selling, Sales Promotions

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These are the external factors which affect the marketing mix for which the entity has no control over.

✒CONSUMER BEHAVIOR

This refers to the consumer buying behavior as a whole, as to how their buying behavior is and how is it reflected. which includes whether the consumers are willing to spend more on the entity's products or have they limited their spending, if so what is the demand elasticity, as in the factors which is related with consumer buying behavior is considered.

✒ COMPETITIORS BEHAVIOR

This implies the behavior of the competitors as in how do the competitors reflect, react and charge on, similarly if we do something what will they be doing and in what manner is included under competitor's behavior

✒ GOVERNMENT BEHAVIOR
The government behavior represents the policy actions undertaken by the government which will affect the marketing mixes of the particular entity, as an example government imposing maximum prices or limited campaigns or import restrictions, depend on those factors the marketing mixes will vary.

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These are the internal factors which affect the marketing mixes of a particular entity and on which the organization has control over.

✒ PRODUCT POLICY

The basic policy of the product as to in, whether it is designed for long usage or short usage and the purpose of the product, like wise the policies of the product will determine the entity's marketing mix.

✒ BRANDING POLICY

This refers to the branding policy of an entity's product or service, which means how do the entity brands its product? as an example are they branding it as a normal product or a differentiated unique product or in extreme cases as a premium product

✒ PRICING POLICY

Similar to the other policies described, the policy of the entity as to how do they price the product, are they going with skimming or penetration or similar prices to that of the competitors, premium pricing and etc.

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Factors affecting the marketing mix can be divided in to two as controllable factors and uncontrollable factors based on tis controllability.

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Marketing process includes the  ways in which value can be created for the customers to satisfy their requirements. It is an endless series of actions and reactions between the customers and the companies making attempt to create value for and satisfy the needs of customers.

In marketing process, the situation is examined to identify opportunities, the strategy is formulated for a value proposition

Process includes the direct activities and the indirect activities which are performed to add value to the final consumer.

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This includes all the augmentations and transformations a product might undergo in the future. To ensure future customer loyalty, a business must aim to surprise and delight customers in the future by continuing to augment products.

Where the potential product includes the future upcoming additions to the product or services provided which the customer will not even know or expect

CAMERA
Releasing of the latest version of CANON EOS R6 where Canon came up with one of the successful mirrorless all rounders

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The set of attributes or characteristics that buyers normally expect and agree to when they purchase a product

Apart from fulfilling the basic and fundamental purpose, the expected product includes the additional expectations of the consumers as to what they expect as a result of choosing one product over its other competitors is known as the expected products.

CAMERA
The differentiated features and the specific characteristics that the customers who buy the product wish to have. As in as to why they choose Canon over Nikon

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Physical evidence refers to everything the customer sees when interacting with a particular business, which includes the physical environment, layout / interior, packaging and branding and to an extent it refers to the appearance and uniform of the staff employed
Services as we know are largely intangible when marketing, However customers tend to rely on physical cues to help them evaluate the product before they buy it. Therefore marketers develop what we call physical evidence to replace these physical cues in a service. The role of the marketer is to design and implement such tangible evidence.

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People are the most important element of any service or experience. Services tend to be produced and consumed at the same moment, and aspects of the customer experience are altered to meet the individual needs of the person consuming it.

People includes everyone who is involved in the product whether directly or indirectly. even though not all gets in touch with the final customers everyone has their on roles to play in creating value

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An augmented product has been enhanced by its seller with added features or services to distinguish it from the same product offered by its competitors

Augmenting a product involves including intangible benefits or add-ons that go beyond the product itself, which is  enhanced by the addition of related services and benefits, eg. installation, warranty, maintenance and repair services,

CAMERA
Augmented product in the case of a camera can be, the after sales services, warranties, updates and configurations

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A version of the product containing only those attributes or characteristics absolutely necessary for it to function

knowing the core reason, the generic product includes the features and attributes that it has to meet the core need of a consumer choosing the product is known as the generic product.

CAMERA
Generic product represents the purpose apart from the core, as to the features that the customers expect in order to fulfill the core purpose of buying a camera

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This is the first level to be defined and explored. What is the main or core benefit that a product offers to its consumers
which implies the basic reason as to why a particular consumer will buy the product . the fundamental cause of reason as to why the customers want to consume the product is known as the core product

CAMERA
Core product in the case of camera is that, it has the ability to capture memories forever. (capturing pictures)

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The Marketing Mix Explained: The 4 Ps of Marketing

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Combination of key elements in a marketing strategy
marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place.
It refers to the set of controllable factors that a firm can use to influence the buyer's response within a given marketing environment. It is used to describe the combination of four inputs which were described above Product, Price, Promotion and Place.

Together with that nowadays the businesses have not limited themselves only to the elements mentioned above, together with that they are considering the other 3Ps, such as people, Process and Physical evidence collectively refers the 7Ps of marketing mix

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📩✔ Marketing is the process of identifying developing, promoting and distributing products to satisfy customer  needs. Marketing includes all the activities which are performed in respect of identifying the customer needs and satisficing those in full with great value addition

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📩✔ Marketing is the process of identifying developing, promoting and distributing products to satisfy customer  needs. Marketing includes all the activities which are performed in respect of identifying the customer needs and satisficing those in full with great value addition

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These are the importance as to why the organization or an entity will analyze the market and develop its marketing mixes appropriately.

It helps in clean mix creation

This implies as to not only for the well devised traditional 04 P,s where along with the other three mixes as well, it allows the organization to come with a clean set of mixes where through which they can target their customers well.

It helps new product development

Appropriate devising of marketing mixes allows the entity to learn and penetrate the market in a way that it indicates the entity as to the needs that are still unfulfilled and allows to come up with new products in order to penetrate such gap.

To increase the product portfolio

As similar to what explained above, it allows the organization to diversify its product portfolio in a manner that would reach the meet the customers well.

Become more competitive and adaptable in its market

Better usage of these mixes allows the entity to understand the customers, attract them, reach them and to compete from a very advantageous position.

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4P's + Physical evidences+ Process+ People

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promotional mix refers to the specific combination of the tools, channels, and processes used to promote your offerings. Promotion is the part of marketing where you advertise and market your product, also known as a promotional strategy.
It’s what you say, how you say it, who you say it to, what channels you use to reach them
Through it, you let potential customers know what you are selling.

In the case of NIKE, sponsoring for the cricketers bats, sponsoring sports events. matcher or sports campaigns to enhance their brand awareness

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The amount of money charged for a product or service. The price charged on the product or service provided should reflect the actual value perceived by the customer. may or may not be but the price should reflect the value.
Pricing is the method of determining the value a producer will get in the exchange of goods and services. Simply, pricing method is used to set the price of producer’s offerings relevant to both the producer and the customer.

In the case of NIKE, the different prices that they charge on their products. More precisely the pricing strategies undertaken by NIKE falls under this category. They go under the concept of quality represents price, thereby charging a higher price. Therefore the prices and strategies falls under this

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Particular set of interdependent organization involved in the process of making a product or service available for use or consumption.
In the marketing mix, the process of moving products from the producer to the intended user is called place.
In other words, it is how your product is bought and where it is bought. This movement could be through a combination of intermediaries such as distributors, wholesalers and retailers.

In the case of NIKE, the place represents their manufacturing plants, distribution channels and also their retail outlets through which the customers can get their product from. And these outlets can either be their own outlets orelse third party retail outlets as well. These elements of how they reach the customers fall under place.

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A product is an item that satisfies a need or a want. This can be a physical item, a service or a virtual offering. It is produced at a cost and is subsequently made available to the right audience at a price.
Product refers to the An understanding of the elements that make up a product and those necessary to successfully sell is called the product marketing mix

In the case of NIKE, the footwears and sports accessories that they produce to satisfy the needs of athletes can be taken as their product.