Marketing Distribution) – Where your business sells its

 

Marketing is the procedure by which companies create
customer interest in goods or services. It

makes the strategy that motivates sales techniques, business
communication, and business

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developments. It is an combined process through which
companies build strong customer

relationships and create value for their customers and for
themselves

 

 

 

(1) Product

The product can be tangible or intangible that offered by the

manufacturer to the customers. It can be defined as a package of
satisfaction and

dissatisfactions offered by company to the customers at a point of
time. Their physical

attributes what they do, how they differ from your competitors and
what benefits they

provide. The products can be classified as durable and non durable,
consumers and industrial

goods, perishable and non perishable, finished and semi-finished etc.

 

GoPro has varied collection of
unique products. They manufacture eponymous action cameras and develops its own
mobile apps and video editing software.Size of the product is small ,light
weight and rugged body. This one can shooting full HD video.All of their
products can buy from online websites.

 

(2) Price

Price means the monetary value of the product has been fixed for
exchange purpose. The

price is the amount a customer pays for the product. It is fixed after
considering various

factors such as market share, competition, material costs, product
identity and the customer’s

perceived value of the product. The business may increase or decrease
the price of product if

other stores have the same product. It is through price the company
gets its money back in

business. It should be fixed in such a way the company is in position
to recover the costs and

earn profits also. If it is fixed very low then it may be difficult to
come to the breakeven point

and if fixed very high then it may have deterrent effect on the sale.
The prix decision is very

sensitive and for that special care is to be taken so that you may get
the competitive edge due

to price decision. Place (Also referred to as Distribution) – Where
your business sells its

products or services and how it gets those products or services to
your customers.

 

GoPro is one of the most
affordable cameras on the market.it was selling the lifestyle that came with
using a camera that real “doers” buy.

 

(3) Promotion

The promotion concept is applied for products or services and to the
business. The promotion

include all communications a marketer used in the market for his
products of services to

create awareness, persuade the customers to buy and retain in future
also. For improvement

in the position of sales or progress of business this method is used.
The message is given to

target group regarding the features and benefits of the products or
services to the target

customers. Without communication the features, benefits and schemes
would not be known

to the customers and objectives of in launching of products or services
and increasing sates

would not be completed. When communication creates awareness then only
the interest

would be created and customers would take the decision for buying. For
promotion different

methods of communication can be used.

 

 

 

(4) Placement

Place represents the point or location where the product is made
available to purchase. It is

required that the products and customer should be available at a point
then only the sales

would be possible. If not then the sale does not taken place. This
term is used for distribution

channel. It can include any physical store as well as virtual stores
on the Internet. Place is not

exactly a physical store where it is available Place is nothing but
how the product takes place

or create image in the mind of customers. It depends upon the
perception of customers. The

products or services should reach to the customer that channel is
called distribution channel

of placement.

These above mentioned elements of marketing mix are only for products.
With the

development of service sector in every economy, the marketing of
services is also needed.

Due to this the elements of marketing mix for service have been
extended. The three more

elements for service have been added. These are:

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(5) People

The services are being provided with the help of employees and to the
customers. There is

direct contact for delivery of the services to the customers. The type
of people providing the

service matters a lot from business point of view. The people are to
be selected, trained and

motivated to keep the customers very happy. So the people are very
important for service

marketing. It is to be managed effectively.

 

(6) Process

For availing a service certain activities are to be performed. For
that purpose procedure,

mechanism and flow of activities by which services are delivered are
to be decided. Without

The service cannot be delivered properly with uniformity. That would
maintain the standard

format for availing the services. This is called process. For example,
one wants saving

account facility in a bank then he has to apply for opening an
account. After this the pass

book, cheque book and ATM card would be issued and service can be
availed after this..

 

(7) Physical Evidence

There are essential conditions for providing the service. These are
two types. One is internal

and another is external. These create the environment in which the
service or product is

delivered. For example to provide the hotel service and external
evidence required are

building, parking place, gate and a long drive- way. Internal evidence
required like counter,

telephone, passbooks, reservation facilities, cigarettes etc. Without
this providing hotel

service, a question does not arise.

 

 GoPro’s has used marketing mix
to establish its brand.

 

Product