What is Importance and role of marketing mix ?

Importance and role of marketing mix

The marketing mix is very important for marketer. Marketing mix has affect on consumers decision to buy or not. There are clearly many factors which influence a consumer's decision to buy something and these are all part of the marketing mix 7ps are the fundamental element of the marketing mix. These elements are very useful for marketer to conduct a marketing plan. The 7ps stand for product, price, place, promotion, people, process, physical evidence.

PRODUCT

Costumer satisfaction is very important. Nokia focuses on the satisfying the customers need. NOKIA is the leading global brand when it comes to products, they are considered as a high quality products, services. Also, nokia makes high efforts to understand of the consumer`s need including people with physical, sensory or cognitive limitations. For instance, in October 2010, the only brand was the nokia who launched the visual user guides for people in growth markets.who are illiterate or semiliterate to help them make the most of their mobile phone. The products of nokia has less hazardous for environment. Because, that products are 100% recyclable. That's why they are highly energy efficient.

Today's competitive markets do not have a bad product. Actually, costumers have right to send back the product if he did not like it. This question is very important: does the Nokia create what its intended customers want? Also, variety is very important. Nokia has large of variety in every series. Other important factor is that quality. Nokia had got brand personality that's why it has 35% of market share as it is considered very good quality.

Design plays an important part for a product. Nokia was the first brand to launch N-gage series with game pads for game loving users. Nokia phones have various designs for example, slide, candy bar, touch screen, classic, fold and QWERTY phones. Their phones are known for long lasting battery life and durability.

Nokia is familiar. The reason is that nokia has unique and slick appearance. And it is very important for marketing. Nokia has innovative service and user-friendly application that's why these features have affect on market. Until now, nokia has launched more than 50 mobile phone which has its different kinds of features. The aim of nokia strategies are socio economic groups rather than other tactics.

For instance, nokia N GAGE was aimed at young consumer. It has very kinds of game. On the other hand, nokia N series have the features of spreadsheet, word processor for the aimed at professional workers.

Analysis:

First, Market expression has facility to communicate to customers for the manufacturing organizations and also product determines the company ability. Therefore, product strategy and product policy plays very important role for organization and the decision for the product.

Second, determinant of marketing mix is product as it has affect on distribution, pricing and advertising. Therefore, it is important that company has to follow proper policy.

PRICE

Price has two effects on choices the brand. The first thing is that the seeking the lowest price for financial factor, the second thing is that the seeking the higher price to get product quality (Macdonald & Sharp 2000). In marketing mix, price plays important role as it is highly visible factor for marketing mix and it is also distinctive. Price composes the revenues for organisations. the price of product detects the socio economic groups. In order to achieve competitive advantage, it should be balanced the relationship between the price and the product.

Nokia has quite healthy approach to all the kinds of targeted consumers. That's why, nokia has wide range of handsets which are affordable and truly lives up to its buzzword of connecting people. Nokia uses the skimming pricing strategy. Its prices start from £29 to £499.

For instance, if a customer wants a phone which is unique and will be willing to pay higher price, nokia is successful to get the customers unique products such as; nokia 9210 communicator and nokia X6. when nokia X6 initially launched, the pricing was the psychological and skimming price. Now, the price is £255.60 at the stores and in internet.

Analysis:

Therefore, the product`s price is related to:

seeking in market

Covering cost

Price which generates profit

Competitive products

Customers benefit

Therefore, deciding the price of a product is very important. There is some points that should be considered. These are, what the product is and the worth to the customer. Another point is that being aware of the cost to produce and also cost of competitor.

PROMOTION

Promotion is all about communication. The way informing the chosen target groups is important. It can be by advertising such as; through TV, radio and newspaper, public relations, such as; Nokia spot light, personal selling. These has affect on increasing the awareness of the product. For instance, nokia has pull promotional strategy. Nokia promotes to wholesalers. Retailers get from wholesalres. Customers get from retailers. Additionally, pepsi has link for promoting the product of nokia 5800 handset.

Analysis:

Strategies has to be consider some factors to gain competitive advantage. Product improvement has to be advertised and should maintain the preference.

PLACE

Place in marketing mix plays very important role. It is all about the way how the costumer gets the product. Companies should be determine the better place at the right time to trade and the promote the product for the success of the product. To buy the product should not be so difficult for the customers. Nokia phones can be found at the nokia gallery and also at any established retailer such as; tesco, argos and Carphoneware. Additionally, it can be found at online.

The best example of nokia`s strategy is hong kong for significant turnover as Asian pacific countries is the most powerful economic region. It has gross figure of £14 trillion. Since 1960, collective global percentage of nokia has increased six times. That's why, production for nokia strategies in asian countries is good for Nokia.

Analysis:

Therefore, place is important as it decides the reach of the product. There is some factors to be followed for the stargegies. The first factor is that seeking for the best distribution channel. The second factor is that having significant premises for the customers. And final factor is that being aware of the if the response is whether quick at the reasonable cost or not.

 

 

PEOPLE

The having the appropriate staff and people is important factor for any service provision. In order to get competitive advantage for the organisation, it is important the hiring the right employee and training them. Because consumers make judgements about the service based on the staff`s behaviour. Thus, employees should have the interpersonal skills and service knowledge.

PROCESS

Process can be described as a systems used to help the company in delivering the service. process refers to the actual procedures, mechanisms, and flow of activities' used to deliver the service (Zeithaml and Bitner, 1996). The marketer has to plan the process of service deliver carefully, and plan what quality controls can be built in to make sure that customers are confident that about to expect each time they use the service product. 

Nokia has moved quickly to business process mode from functionally oriented organization. Nokia introduced a new development approach for information development in order to satisfy the business needs,

PHYSICAL EVIDENCE

Example of physical evidence might be the way staff member treats the customer. Or the priod of time the customer has to wait. Physical Evidence allows the consumer again to make judgments on the organization. For example, if you go to a restaurant, your expectation would be a clean and a friendly environment. It is the same with nokia. If the customer has a problem about product, the expectation is a friendly and efficiently help by the staff member.

Physical evidence is very important factor for service mix as the consumers make perceptions based on their sight of the service provision which will have an impact on the organisations perceptual plan of the service.