Marketing Mix and Relationship Marketing

1. Marketing Mix and Relationship Marketing Lecturer – ShahedRahman

2. Introduction • Basic Dish can be constructed in so many ways • Marketing mix ( Product, Price, Promotion and Place) can be assembled to meet channel needs • Need to know how to combine these elements to achieved the desired strategic outcomes

3. The product Ingredient • Product is a unique bundle of intangible and tangible attributes offered to mass consumers • Vehicle through which exchanges of value concurrently satisfy both buyers and seller needs • Continuously evolving blending of intangible and tangible characteristics can enhance exchange of value between buyers and sellers • Fusion of Attributes • Product evolution • Value Satisfaction

4. The Product Ingredient • Fusion of attributes • A telephone is not only a handset with a charger or microprocessors • It is a bundled system that connects signals between senders and receivers • Products are bundled attributes • Product evolution • Speed dialing option • Caller identification • A product evolve to meet market place needs • Marketing channels must adapt to accommodate the new requirements of emerging products and service

5. The Product Ingredient • Value Satisfaction • Products needs satisfying goods and messages • Marketing channel add value to those goods and services • Eg. • Grameen Phone – Stay close • Reach Out and Touch someone

6. Fusion on Attributes • Tangibility is the extent of which something is capable of being touched- physical characteristics of a product • Tangible attributes actually exist in some physical form • Generally tangible components that are bundled together and offered as a package • Sometimes intangible aspects also satisfy customer needs • Product have traditionally been portrayed along an attribute based scale ranging from purely tangible goods to purely intangible services

7. Agile Competitive Environments • Marketplace in which channel members constantly modify and improve their product offerings to better satisfy changing customer needs • A combination of physical and no physical attributes is aimed at meeting distinctive challenges in the exchange relationship

8. Product in Process • The concept of agile competition requires that products continually evolve • Each market offering is really product in process • For example – If you don’t like the car in the showroom you can order one semi customized which will be delivered in 1 week time • Product in process efforts will contribute to new and stronger customer relationship and increase brand loyalty

9. Value Satisfaction • Value Satisfaction is a channel members perception of the benefits derived from owning or consuming the product • Each product must deliver some measure of value satisfaction to both buyer and seller • Different exchange partners will have different assessment of the worth of a product • Channel members should transform themselves from function delivery to value delivery systems • Important in building a channel relationship

10. Value Satisfaction • Assess Customer value • Typing – clicking is like a old idea of using electronic goods – need a touch screen • Provide Customer value • Giving the touchpad or touch screen option – Ipad and Ipod • Communicate customer value • Whether the problems or needs has been met or not • Solving customer problems or not