Horti-Business Management (2+0)

Planning Marketing Programs

• To transform marketing strategy into marketing programs, marketing managers must make basic decisions on marketing expenditure, marketing mix, and marketing allocation.
• Marketing Mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market.
• A four factor classification of these tools is called the four Ps product, price, place (i.e., distribution), and promotion. The four Ps of the Marketing Mix is
	Marketing Mix
Product	Price	Promotion	Place
Product variety	List price	Sales promotion	Channels
Quality	Discounts	Advertising	Coverage
Design	Allowances	Sales force	Assortments
Features	Payment period		Public relations
Brand name	Credit terms	Direct marketing	Inventory
Packaging			Transport
Sizes
Services
Warranties
Returns


• The most basic marketing mix tool is product-the firms’ tangible offer to the market, which includes the product quality, design, features, branding and packaging.
• A critical marketing mix tool is price, the amount of money that customers pay for the product.
• Place, another key marketing mix tool, includes the various activities the company undertakes to make the product accessible and available to target customers.
• Promotion, the fourth marketing-mix tool, includes all the activities the company undertakes to communicate and promote its products to the target market.
4Ps	4Cs
Product	Customer needs and wants
Price	Cost to the customer
Place	Convenience
Promotion	Communication