meaning of marketing mix and branding

MAY 2, 2020

DAY 5

THANK YOU FOR LOGGING IN. GOOD MORNING BOYS!

YESTERDAY'S CASE STUDY ANSWER- Various types of thinking that guided the marketing efforts were:
GINIKA- SOCIETAL MARKETING CONCEPT
TANISH- SELLING CONCEPT
ROHIT- MARKETING CONCEPT

THERE WILL BE A GOOGLE MEET TODAY AT 1 PM FOR 12 B BOYS. THE LINK IS GIVEN BELOW:

meet.google.com/suf-wryc-kef

LEARNING OUTCOMES- At the end of the lesson, students will be able to:
1) Explain the elements of marketing mix.
2) Discuss the meaning of branding.
3)  Enumerate the advantages of branding.

NOW WATCH A SMALL VIDEO FIRST FOR CLARITY OF MARKETING MIX  AND ITS ELEMENTS:

NOW TAKE DOWN THE NOTES:

Q.5 What is Marketing Mix? Explain the elements of marketing mix. (5)

Ans-Marketing Mix is the set of marketing tools that a firm uses to pursue its marketing objectives in a target market. It is the combination of variables chosen by a firm to prepare its market offering. The elements are explained as follows-
1. Product Mix -
a) Product means goods and services or anything of value which is offered to the market for exchange.
b) Product Mix is the combination of all the products offered for exchange by a company. It includes branding ,labelling and packaging.
2. Price mix -
a)Price may be defined as the amount of money paid by the buyer in consideration for the purchase of a product or a service .
b) It affects the revenue and profits of the firm. The marketers have to take several pricing decisions  like setting the pricing objectives, determining the pricing strategies ,determining the factors affecting price and fixing a price for the firm's products.
3  Physical distribution or Place Mix-
a)Place Mix is concerned with making  the goods and services available at the right place ,in right quantity and at the right time so that the consumers can purchase the same.
b)  There are two important decisions related to this aspect-
i) The decision regarding physical movement of goods from producers to consumers or users .
ii) The decision regarding the channels or using intermediaries in the distribution process like retailers, wholesalers, agents, etc.
4. Promotion Mix-
a) It refers to the use of communication with the objective of informing potential customers about the product and persuading them to buy the same.
b) Promotion Mix refers to the combination of promotional tools used by an organisation to achieve its marketing objectives like advertisement personal selling ,sales promotion and public relations.

Q.6  What is Branding? What are the advantages of branding? (4)
Ans- Branding is the process of giving a name, sign or symbol to a  product which helps in identifying and distinguishing it from the competitors product.
a)Brand is the name ,term, sign ,symbol, design or some other combination of them used to identify the products of one firm and to differentiate them from those of the competitors .For example- Parker ,Nike, Mercedes, Woodland, etc.
b) Brand Name- That part of a brand which can be spoken like Asian Paints, Maggie and Uncle Chips.
c) Brand mark - That part of a brand which can be recognised only but cannot be spoken like Devil of  Onida, etc.
d)Trademark - A brand that is given legal protection against its use by other firms.

ADVANTAGES WE WILL DO TOMMORROW.


GOD BLESS YOU ALL!