Marketing Mix

In

Logistics Industry

&

Telecommunication Industry

Marketing Mix

Marketing is the management process responsible for identifying, anticipating and

satisfying consumers' requirements profitably.

7P’s can be defined as-

Product

The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user's needs and wants. The scope of a product generally includes supporting elements such as warranties, guarantees, and support

PricingThis refers to the process of setting a price for a product, including discounts. The price need not be monetary - it can simply be what is exchanged for the product or services, e.g.

time, energy, psychology or attention

PromotionThis includes advertising, sales promotion, publicity, and personal selling, and refers to the various methods of promoting the product, brand, or company.

Placement or distributionrefers to how the product gets to the customer; for example, point of sale placement or retailing. This fourth P has also sometimes been called Place, referring to the channel by which a product or services is sold (e.g. online vs. retail)

People

Any person coming into contact with customers can have an impact on overall satisfaction. Whether as part of a supporting service to a product or involved in a total service, people are particularly important because, in the customer's eyes, they are generally inseparable from the total service. As a result of this, they must be appropriately trained, well motivated and the right type of person.

Process This is the process involved in providing a service and the behavior of people, which can be crucial to customer

satisfaction.

Physical evidence •Unlike a product, a service cannot be experienced before it is delivered, which makes it intangible. This, therefore, means that potential customers could perceive greater risk when deciding whether to use a service.

•To reduce the feeling of risk, thus improving the chance for success, it is often vital to offer potential customers the chance to see what a service would be like. This is done by providing physical evidence, such as case studies, testimonials or demonstrations.

7Ps in logistics industry

Product services (transportation, supply chain management, warehousing)

Price in a logistic industry pricing strategy is based on 3 approaches

  Customer centric approach- According to this strategy different prices are charged to different customers depending on their orders

   Service centric approach- What all services are provided to the customer and accordingly prices are charged.

  Cost centric approach- Cost +margin

Place in order to serve the maximum no. of people ,the company choose a place where they can fulfill all the needs of the customer in serving their customer with better quality of technological services in economic price and through reliable sources.

PromotionEvery logistic company is to provide complete end to end supply chain solution to their customer. So while promoting their brand they should highlight those core strength which are distinctive.Every customer has different needs, according to the strengths highlighted in their promotional activities, customers choose logistics company which can fulfill their need / requirement completely.

Process

process can be defined as set of activities in order to produce output.

1) All the marketing activities carried on by logistic company help them in taking orders from different manufacturing companies.

2) Prices are negotiated on the basis of pricing strategy

3) Orders are taken as per the requirement of customers

4) Committed delivery is provided to the customer with the help of technologies like TPS (transaction processing system), GPS (goods processing system), calling facility etc

5) Anywhere cheque deposition facility is provided to the customers.

 

PeopleMany services of the logistics company depend on direct, personal interaction between customers and a firm’s employees.

The nature of these interactions strongly influences the customer’s perceptions of service quality.

Customers will often judge the quality the services they received based on their assessment of the people providing that services.

Customer also judges the service on the basis of word of mouth or past experiences. 

Physical evidenceThe appearance of buildings, landscaping, vehicles, interior furnishing, equipments, staff members, sign, printed materials and other visible cues of Logistics Company provide tangible evidence of a firm’s service quantity. This industry manages physical evidence carefully as it knows the profound impact on customer’s impressions.

7 P’s Telecommunication

Industry

Product Telephone service via wires and cables that connect customers’ premises to central offices maintained by telecommunications companies. Transmission of all types of graphic, video, and electronic data mainly

over the Internet. PriceThe pricing strategy adopted by the telecommunication industry is based on what kind of services they are providing to their customers.

They charging prices for each and every value added services availed by the customers.

Pricing strategy is based on 3 components-Cost based Competition based

Value based

Promotion

Advertising and promotion are undertaken through cooperation between the service providers and mobile phone manufacturers.

The consumers relate information about the service provider with a combination of brand concept and unit usage flexibility.

The relationship of variable to choice is significant with only price upward difference with current model showing an inverse relationship and the brand concept commanding the highest positive contribution.

Place

Channelsing is through different outlets, franchises

Makes the services available at customer convenience place.

Rural market is targeted by distributing certain scheme to senior person of the village in order to create awareness among the people of the village.

Process

This sector provide telephone service through wires and cables that connect customers’ premises to central offices maintained by telecommunications companies.

The central offices contain switching equipment that routes content to its final destination that determines the most efficient route for the content to take.

While voice used to be the main type of data transmitted over the wires, wired telecommunications service now includes the transmission of all types of graphic, video, and electronic data mainly over the Internet.

PeopleAs the demand internet increases telecommunications companies have been expanding and upgrading their networks.

Customer service representatives work in call centers where they answer customer service calls.

Manpower is required in those areas where industry is set up for the first time as well as expanding their network in rural areas.

Physical evidence

Communication equipments such as telephone operators, work at video display terminals in pleasant, well-lighted, air-conditioned surroundings.these all are well maintained in order to avoid customers discomfort.

The rapid pace of the job and close supervision may cause stress. Some workplaces have introduced innovative practices among their operators to reduce job-related stress.

so in this way the industry maintains physical evidence and satisfaction .