The impacts of marketing mix elements

Definition[ edit ] Marketing is defined by the American Marketing Association as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. From a sales process engineering perspective, marketing is "a set of processes that are interconnected and interdependent with other functions" of a business aimed at achieving customer interest and satisfaction. The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably. However, because the academic study of marketing makes extensive use of social sciencespsychologysociologymathematicseconomicsanthropology and neurosciencethe profession is now widely recognized as a science, [8] [ not in citation given ]allowing numerous universities to offer Master-of-Science MSc programs.

The impacts of marketing mix elements

Law firms, management consultants, IT services and telecom providers, architectural groups, healthcare and educational organizations, financial and insurance institutions, and a multitude of business-to-consumer operations profit from performing and delivering people-based services.

But invisibility, or intangibility, is just one factor that distinguishes services marketing from product marketing.

Along with inseparability, variability, and perishability, these four characteristics affect the way clients behave during the buying process and the way organizations must interact with them.

Additionally, these characteristics influence the development of marketing strategies and the more tactical marketing mix—from the "packaging" and pricing of services bundles, to defining distribution plans and promotions options.

The Importance of Product Positioning to the Marketing Plan |

To ensure business success, services marketing professionals must clearly understand these characteristics, how they affect client behavior, and how their organization can respond to diminish engagement risk, improve customer perceptions, and enhance market opportunities. Intangibility Services are not physical and cannot be "possessed.

A services client will never know how good the service is until after he receives it. In some cases, it actually may be months or years before a trigger event occurs to activate the service, at which time the client hopes to experience the promised service quality e.

This can be unsettling for the The impacts of marketing mix elements, whose response is to look for tangible signals about the service process and quality prior to purchase to reduce uncertainty and reservation. Services marketing professionals must determine how to effectively communicate the services process, deliverables, and benefits in order to build client confidence.

Tangible signals that indicate services quality and value come from personal interaction, trusted recommendations, clear communications, equipment used or processes followed, pricing, and the physical environment in which the business operates.

With promotions, a logo symbol can offer a sense of tangibility—the "good hands" of Allstate, the Merrill Lynch bull, the Prudential Insurance rock. Testimonials and case studies can be used to build client confidence and rapport.

The communications material itself paper, design, and content can convey quality, too. Pricing can also be an indicator of quality: Premium pricing often suggests higher quality, while prices that are too low may hint at the inexperience, limited depth, or vague processes of the services producer.

The impacts of marketing mix elements

But tangibility must extend beyond promotions and price. Because positive personal interaction and "chemistry" is a gauge of quality to the client, marketing as a discipline must be influential in the training of sales and service associates.

These individuals literally are the embodiment of marketing for the organization. Their ability to deliver on the brand promise affects business success.

Therefore, creating client relationships, setting appropriate expectations, and learning to represent the company in an acceptable way e.

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Because it is critical to services delivery, the success of client interactions should be quantified, measured, and improved with regularity. Inseparability The production of the services can't be separated from its consumption.

For example, the production and consumption of a medical exam happen together, as do many consulting services and IT maintenance contracts. This leads to two important factors. First, the client is, essentially, "in the factory," watching production all along the way. It is very important for a service provider or consultant to carefully manage the "production process" as the client is able to observe it in action and make judgments about quality and value.

Second, the client often expects the service to be provided in a specific way or by a specific individual—and that can pose challenges in assigning staff, managing the process, and ensuring the frontline people display the appropriate knowledge, attitude, and appearance when delivering the service.

Services marketing professionals can encourage client participation during the delivery process.

The impacts of marketing mix elements

As the client is engaged through interviews, strategy sessions, regular communications, testing, and face-to-face updates at major milestones, he gains confidence and builds commitment to the engagement and relationship. To manage distribution and pricing considerations in the face of inseparability, the marketing professional can identify the level of personalization that the client requires and the company can support.

For example, interactions can be managed through conference calls versus on-site visits, or exchanges can be shifted from high-contact to low-contact operations e. These changes should be carefully evaluated to ensure client acceptance and positive brand impact.

Variability Sometimes called "heterogeneity," services quality and consistency are subject to great variability because they are delivered by people, and human behavior is difficult to control.

Personal performance and quality can vary by time of day people get tiredtime of month or year during tax time for CPAsworkload, experience, attitude, knowledge, and other factors.

Maintaining client trust during lapses which will happen is critical. Also, variability is why it can be risky to have one person make the sale and establish the relationship, and another deliver the service. The original contact person is the one who reduced risk for the client; when someone else delivers the service, the client may become agitated or wary.

Services marketing professionals particularly can overcome variability by developing special service packages.The last element of the marketing mix is the place. Also called placement or distribution, this is the process and methods used to bring the product or service to the consumer. In this section we will take a look at 1) an introduction of place, 2) distribution channels and intermediaries, 3) making channel decisions, 4) managing distribution channels, 5) the impact of the marketing mix on.

Jun 27,  · Product positioning is an important element of a marketing plan. Product positioning is the process marketers use to determine how to best communicate their products' attributes to . Resources cited above: Clive A. Edwards, Rattan Lal, Patrick Madden, Robert H.

Miller, and Gar House, editors, Sustainable Agricultural Systems (Soil and Water Conservation Society, ). Chapters 1 – . marketing strategy is one of the most important part in making your business plan. It involves the sales tactics of your business, the advertising and promotion of products or services you offer to the market, and through marketing strategy you will be able to know the best distribution channel for your business.

The marketing mix of your product(s) is (arguably) the most important of all the mix elements. And product is key in the development and creation of customer value; which is vital for growth in your sales and the sustainability of your business. Key Elements for Building and Implementing an Enrollment Plan.

By Janet Ward. Just as every institution has a mission statement that expresses its purpose (educational goals and market segment), there needs to be a road map that shows where you’ve come from, where you are .

Services marketing - Wikipedia