Marketing Mix and Strategy Plan PDF

**1. Objectives** - The presentation aims to: - Discuss the **Marketing Mix** as a tool for achieving marketing objectives. - Differentiate between a **Marketing Strategy** (broad, directional approach) and a **Marketing Plan** (specific, actionable roadmap)....

**1. Objectives** - The presentation aims to: - Discuss the **Marketing Mix** as a tool for achieving marketing objectives. - Differentiate between a **Marketing Strategy** (broad, directional approach) and a **Marketing Plan** (specific, actionable roadmap). **2. Marketing Mix** - **Definition**: The Marketing Mix is a set of marketing tools a firm uses to pursue its marketing objectives within a target market. - **Evolution of the 4 Ps**: Traditionally, the Marketing Mix focused on four core areas (Product, Price, Place, Promotion). However, due to shifts in consumer behavior and technological advances, the model now includes three additional Ps: - **People**: Emphasizes the importance of human interactions in the brand experience. - **Process**: Focuses on the systems and methods that deliver the product or service. - **Physical Evidence**: Refers to the tangible or intangible proof of a brand\'s value, like store layout, packaging, or even online presence. **3. Marketing Strategy vs. Marketing Plan** - **Definitions**: - **Marketing Strategy**: Outlines the overarching direction, goals, and value proposition. It\'s long-term, shapes the brand\'s position in the market, and guides decision-making. - **Marketing Plan**: An actionable document detailing steps, timelines, and resources needed to reach the objectives set by the strategy. It\'s tactical and short-term. - **Influence of Strategy on the Plan**: The strategy lays the groundwork by establishing goals, target audience, and competitive positioning, which are then realized through the plan\'s specific actions. - **Sequential Relationship**: - The **strategy** precedes the **plan**, providing high-level direction. - The **plan** is dynamic, adapting to market conditions and updated regularly to remain relevant and effective. **4. Differences Between Marketing Strategy and Plan** - **Time Frame**: - Strategy: Long-term, guiding organizational goals. - Plan: Short-term, focused on immediate tactics. - **Scope**: - Strategy: Broad, organization-wide approach. - Plan: Detailed, focused on specific marketing initiatives. - **Function**: - Strategy: Framework for overall decision-making. - Plan: Specific steps, timelines, and resources required to achieve marketing objectives.